Pet Insurance Market Size, Share & Trends Analysis Report By Coverage Type (Accident-only, Accident & Illness), By Animal Type (Dogs, Cats), By Sales Channel, By Region, And Segment Forecasts, 2025 - 2030
Pet Insurance Market Growth & Trends
The global pet insurance market size is expected to reach USD 48.98 billion by 2030, registering a CAGR of 17.97% from 2025 to 2030, according to a new report by Grand View Research, Inc. The key factor driving the industry growth includes increasing veterinary care costs as a result of advancements in medical technology and treatments. Thus, pet owners are seeking insurance to help cover these expenses. According to the American Pet Products Association (APPA), the total pet spending in the U.S. alone was estimated to reach a record high of over $100 billion in 2023. This includes expenses, such as pet food, supplies, over-the-counter medications, veterinary care, and other services. The increasing trend in pet spending reflects the growing importance of pets in people's lives and the willingness of pet owners to invest in the well-being of their animals.
Furthermore, pet insurance providers are offering a wider range of coverage options, including customizable plans that cater to different needs and budgets, making insurance more accessible and attractive to pet owners. For instance, in August 2023, Nationwide launched its most cutting-edge pet protection product, empowering pet owners to tailor coverage in each category to suit their pet's requirements and financial constraints. The introduction of highly customizable pet insurance plans signifies a significant trend in the market. This innovative approach recognizes the diverse needs of pet owners and their animals, providing a flexible and personalized solution. As pet insurance becomes more tailored and adaptable, it is likely to attract a broader audience, fostering increased adoption rates. This trend emphasizes the industry's commitment to meeting individualized customer needs and contributes to the overall growth and evolution of the market.
In addition, increased regulatory support and legislation advocating for pet welfare are expected to drive the demand for pet insurance, as owners seek to comply with legal requirements and provide the best possible care for their pets. For example, in some European countries, pet insurance is not mandatory, while in others, it may be required by law. The National Association of Insurance Commissioners (NAIC) has developed a Pet Insurance Model Act to create regulatory guidance for states regarding pet health insurance. Moreover, some regulations, such as mandatory microchipping or pet travel requirements, have made certain forms of insurance a necessity. For example, the EU Pet Travel Scheme necessitates compliance with specific health and identification measures when traveling with pets. This has directly increased the demand for pet insurance to meet these regulatory obligations.
Pet Insurance Market Report Highlights
- The accident & illness coverage type segment dominated the market with a share of about 85.18% in 2024. Since pet accidents and illnesses are more common, posing a significant financial strain on pet owners, which results in a higher need for pet insurance
- The dogs segment attributed to the largest market share in 2024 in terms of animal type. The other animal type segment includes small mammals, horses, reptiles, & birds, and is projected to grow at the fastest CAGR from 2024 to 2030
- By sales channel, the direct sales segment held the highest share in 2023 and is estimated to grow at the fastest CAGR from 2024 to 2030
- Europe held the largest share of about 41.58% of the overall market in 2024
- The rising number of pet adoptions globally is a major factor driving market growth. In addition, there is a growing awareness and concern among pet owners about their pets' health, leading to an increased demand for pet insurance
- Chapter 1. Methodology and Scope
- 1.1. Market Segmentation and Scope
- 1.1.1. Products & Service Segment
- 1.1.2. Application Segment
- 1.1.3. End Use Segment
- 1.2. Regional Scope
- 1.3. Estimates and Forecast Timeline
- 1.4. Research Methodology
- 1.5. Information Procurement
- 1.5.1. Purchased Database
- 1.5.2. GVR’s Internal Database
- 1.5.3. Primary Research
- 1.6. Information or Data Analysis:
- 1.6.1. Data Analysis Models
- 1.7. Market Formulation & Validation
- 1.8. Model Details
- 1.8.1. Commodity Flow Analysis
- 1.9. List of Secondary Sources
- 1.10. List of Abbreviations
- 1.11. Objective
- Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Snapshot
- 2.3. Competitive Landscape Snapshot
- Chapter 3. Market Variables, Trends, & Scope
- 3.1. Market Lineage Outlook
- 3.1.1. Parent Market Outlook
- 3.1.2. Related/Ancillary Market Outlook
- 3.2. Market Dynamics
- 3.2.1. Market Driver Analysis
- 3.2.1.1. Increasing demand for personalized medicine
- 3.2.1.2. Technological advancements in organ-on-a-chip technologies
- 3.2.1.3. Increasing applications of organ-on-a-chip models in biomedical research
- 3.2.2. Market Restraint Analysis
- 3.2.2.1. Technical challenges and complexities associated with organ-on-a-chip technique
- 3.2.2.2. Regulatory hurdles in organ-on-a-chip method
- 3.3. Industry Analysis Tools
- 3.3.1. Porter’s Five Forces Analysis
- 3.3.2. PESTEL Analysis
- 3.3.3. COVID-19 Impact Analysis
- Chapter 4. Products & Service Group Business Analysis
- 4.1. Products & Service Segment Dashboard
- 4.2. Organ-on-a-Chip Market Products & Service Movement Analysis
- 4.3. Organ-on-a-Chip Market Size & Trend Analysis, by Products & Service, 2018 to 2030 (USD Million)
- 4.4. Products
- 4.4.1. Products market estimates and forecasts, 2018 - 2030 (USD Million)
- 4.4.2. Instruments
- 4.4.2.1. Instruments market estimates and forecasts, 2018 - 2030 (USD Million)
- 4.4.3. Organ-on-a-Chip Devices
- 4.4.3.1. Organ-on-a-chip devices market estimates and forecasts, 2018 - 2030 (USD Million)
- 4.4.3.2. Liver-on-a-Chip
- 4.4.3.2.1. Liver-on-a-chip market estimates and forecasts, 2018 - 2030 (USD Million)
- 4.4.3.3. Lung-on-a-Chip
- 4.4.3.3.1. Lung-on-a-chip market estimates and forecasts, 2018 - 2030 (USD Million)
- 4.4.3.4. Intestine-on-a-Chip
- 4.4.3.4.1. Intestine-on-a-chip market estimates and forecasts, 2018 - 2030 (USD Million)
- 4.4.3.5. Kidney-on-a-Chip
- 4.4.3.5.1. Kidney-on-a-chip market estimates and forecasts, 2018 - 2030 (USD Million)
- 4.4.3.6. Heart-on-a-Chip
- 4.4.3.6.1. Heart-on-a-chip market estimates and forecasts, 2018 - 2030 (USD Million)
- 4.4.3.7. Others
- 4.4.3.7.1. Others market estimates and forecasts, 2018 - 2030 (USD Million)
- 4.5. Services
- 4.5.1. Services market estimates and forecasts, 2018 - 2030 (USD Million)
- Chapter 5. Application Group Business Analysis
- 5.1. Application Segment Dashboard
- 5.2. Organ-on-a-Chip Market Application Movement Analysis
- 5.3. Organ-on-a-Chip Market Size & Trend Analysis, by Application, 2018 to 2030 (USD Million)
- 5.4. Drug Discovery
- 5.4.1. Drug discovery market estimates and forecasts, 2018 - 2030 (USD Million)
- 5.5. Toxicology Research
- 5.5.1. Toxicology research market estimates and forecasts, 2018 - 2030 (USD Million)
- 5.6. Others
- 5.6.1. Others market estimates and forecasts, 2018 - 2030 (USD Million)
- Chapter 6. End Use Business Analysis
- 6.1. End Use Segment Dashboard
- 6.2. Organ-on-a-Chip Market End Use Movement Analysis
- 6.3. Organ-on-a-Chip Market Size & Trend Analysis, by End Use, 2018 to 2030 (USD Million)
- 6.4. Pharmaceutical & Biotechnology Companies
- 6.4.1. Pharmaceutical & biotechnology companies market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.5. Academic & Research Institute
- 6.5.1. Academic & research institute market estimates and forecasts, 2018–2030 (USD Million)
- 6.6. Others
- 6.6.1. Others market estimates and forecasts, 2018 - 2030 (USD Million)
- Chapter 7. Regional Business Analysis by Products & Service, Application, End Use
- 7.1. Regional Dashboard
- 7.2. Market Size & Forecast and Trend Analysis, 2024 & 2030
- 7.3. North America
- 7.3.1. North America Organ-on-a-Chip Market, 2018 - 2030 (USD Million)
- 7.3.2. U.S.
- 7.3.2.1. Key Country Dynamics
- 7.3.2.2. Competitive Scenario
- 7.3.2.3. Target Disease Prevalence
- 7.3.2.4. U.S. Organ-on-a-Chip Market, 2018 - 2030 (USD Million)
- 7.3.3. Canada
- 7.3.3.1. Key Country Dynamics
- 7.3.3.2. Competitive Scenario
- 7.3.3.3. Target Disease Prevalence
- 7.3.3.4. Canada Organ-on-a-Chip Market, 2018 - 2030 (USD Million)
- 7.3.4. Mexico
- 7.3.4.1. Key Country Dynamics
- 7.3.4.2. Competitive Scenario
- 7.3.4.3. Target Disease Prevalence
- 7.3.4.4. Mexico Organ-on-a-Chip Market, 2018 - 2030 (USD Million)
- 7.4. Europe
- 7.4.1. Europe Organ-on-a-Chip Market, 2018 - 2030 (USD Million)
- 7.4.2. UK
- 7.4.2.1. Key Country Dynamics
- 7.4.2.2. Competitive Scenario
- 7.4.2.3. Target Disease Prevalence
- 7.4.2.4. UK Organ-on-a-Chip Market, 2018 - 2030 (USD Million)
- 7.4.3. Germany
- 7.4.3.1. Key Country Dynamics
- 7.4.3.2. Competitive Scenario
- 7.4.3.3. Target Disease Prevalence
- 7.4.3.4. Germany Organ-on-a-Chip Market, 2018 - 2030 (USD Million)
- 7.4.4. France
- 7.4.4.1. Key Country Dynamics
- 7.4.4.2. Competitive Scenario
- 7.4.4.3. Target Disease Prevalence
- 7.4.4.4. France Organ-on-a-Chip Market, 2018 - 2030 (USD Million)
- 7.4.5. Italy
- 7.4.5.1. Key Country Dynamics
- 7.4.5.2. Competitive Scenario
- 7.4.5.3. Target Disease Prevalence
- 7.4.5.4. Italy Organ-on-a-Chip Market, 2018 - 2030 (USD Million)
- 7.4.6. Spain
- 7.4.6.1. Key Country Dynamics
- 7.4.6.2. Competitive Scenario
- 7.4.6.3. Target Disease Prevalence
- 7.4.6.4. Spain Organ-on-a-Chip Market, 2018 - 2030 (USD Million)
- 7.4.7. Denmark
- 7.4.7.1. Key Country Dynamics
- 7.4.7.2. Competitive Scenario
- 7.4.7.3. Denmark Organ-on-a-Chip Market, 2018 - 2030 (USD Million)
- 7.4.8. Sweden
- 7.4.8.1. Key Country Dynamics
- 7.4.8.2. Competitive Scenario
- 7.4.8.3. Target Disease Prevalence
- 7.4.8.4. Sweden Organ-on-a-Chip Market, 2018 - 2030 (USD Million)
- 7.4.9. Norway
- 7.4.9.1. Key Country Dynamics
- 7.4.9.2. Competitive Scenario
- 7.4.9.3. Target Disease Prevalence
- 7.4.9.4. Norway Organ-on-a-Chip Market, 2018 - 2030 (USD Million)
- 7.5. Asia Pacific
- 7.5.1. Asia Pacific Organ-on-a-Chip Market, 2018 - 2030 (USD Million)
- 7.5.2. Japan
- 7.5.2.1. Key Country Dynamics
- 7.5.2.2. Competitive Scenario
- 7.5.2.3. Japan Organ-on-a-Chip Market, 2018 - 2030 (USD Million)
- 7.5.3. China
- 7.5.3.1. Key Country Dynamics
- 7.5.3.2. Competitive Scenario
- 7.5.3.3. China Organ-on-a-Chip Market, 2018 - 2030 (USD Million)
- 7.5.4. India
- 7.5.4.1. Key Country Dynamics
- 7.5.4.2. Competitive Scenario
- 7.5.4.3. Target Disease Prevalence
- 7.5.4.4. India Organ-on-a-Chip Market, 2018 - 2030 (USD Million)
- 7.5.5. Australia
- 7.5.5.1. Key Country Dynamics
- 7.5.5.2. Competitive Scenario
- 7.5.5.3. Target Disease Prevalence
- 7.5.5.4. Australia Organ-on-a-Chip Market, 2018 - 2030 (USD Million)
- 7.5.6. Thailand
- 7.5.6.1. Key Country Dynamics
- 7.5.6.2. Competitive Scenario
- 7.5.6.3. Target Disease Prevalence
- 7.5.6.4. Thailand Organ-on-a-Chip Market, 2018 - 2030 (USD Million)
- 7.5.7. South Korea
- 7.5.7.1. Key Country Dynamics
- 7.5.7.2. Competitive Scenario
- 7.5.7.3. Target Disease Prevalence
- 7.5.7.4. South Korea Organ-on-a-Chip Market, 2018 - 2030 (USD Million)
- 7.6. Latin America
- 7.6.1. Latin America Organ-on-a-Chip Market, 2018 - 2030 (USD Million)
- 7.6.2. Brazil
- 7.6.2.1. Key Country Dynamics
- 7.6.2.2. Competitive Scenario
- 7.6.2.3. Target Disease Prevalence
- 7.6.2.4. Brazil Organ-on-a-Chip Market, 2018 - 2030 (USD Million)
- 7.6.3. Argentina
- 7.6.3.1. Key Country Dynamics
- 7.6.3.2. Competitive Scenario
- 7.6.3.3. Target Disease Prevalence
- 7.6.3.4. Argentina Organ-on-a-Chip Market, 2018 - 2030 (USD Million)
- 7.7. MEA
- 7.7.1. MEA Organ-on-a-Chip Market, 2018 - 2030 (USD Million)
- 7.7.2. South Africa
- 7.7.2.1. Key Country Dynamics
- 7.7.2.2. Competitive Scenario
- 7.7.2.3. Target Disease Prevalence
- 7.7.2.4. South Africa Organ-on-a-Chip Market, 2018 - 2030 (USD Million)
- 7.7.3. Saudi Arabia
- 7.7.3.1. Key Country Dynamics
- 7.7.3.2. Competitive Scenario
- 7.7.3.3. Target Disease Prevalence
- 7.7.3.4. Saudi Arabia Organ-on-a-Chip Market, 2018 - 2030 (USD Million)
- 7.7.4. UAE
- 7.7.4.1. Key Country Dynamics
- 7.7.4.2. Competitive Scenario
- 7.7.4.3. Target Disease Prevalence
- 7.7.4.4. UAE Organ-on-a-Chip Market, 2018 - 2030 (USD Million)
- 7.7.5. Kuwait
- 7.7.5.1. Key Country Dynamics
- 7.7.5.2. Competitive Scenario
- 7.7.5.3. Target Disease Prevalence
- 7.7.5.4. Kuwait Organ-on-a-Chip Market, 2018 - 2030 (USD Million)
- Chapter 8. Competitive Landscape
- 8.1. Company Categorization
- 8.2. Strategy Mapping
- 8.3. Company Market Position Analysis, 2024
- 8.4. Company Profiles/Listing
- 8.4.1. Emulate, Inc.
- 8.4.1.1. Overview
- 8.4.1.2. Financial Performance
- 8.4.1.3. Product Benchmarking
- 8.4.1.4. Strategic Initiatives
- 8.4.2. MIMETAS B.V.
- 8.4.2.1. Overview
- 8.4.2.2. Financial Performance
- 8.4.2.3. Product Benchmarking
- 8.4.2.4. Strategic Initiatives
- 8.4.3. Valo Health
- 8.4.3.1. Overview
- 8.4.3.2. Financial Performance
- 8.4.3.3. Product Benchmarking
- 8.4.3.4. Strategic Initiatives
- 8.4.4. Nortis, Inc.
- 8.4.4.1. Overview
- 8.4.4.2. Financial Performance
- 8.4.4.3. Product Benchmarking
- 8.4.4.4. Strategic Initiatives
- 8.4.5. AxoSim
- 8.4.5.1. Overview
- 8.4.5.2. Financial Performance
- 8.4.5.3. Product Benchmarking
- 8.4.5.4. Strategic Initiatives
- 8.4.6. BICO - THE BIO CONVERGENCE COMPANY
- 8.4.6.1. Overview
- 8.4.6.2. Financial Performance
- 8.4.6.3. Product Benchmarking
- 8.4.6.4. Strategic Initiatives
- 8.4.7. CN Bio Innovations Ltd
- 8.4.7.1. Overview
- 8.4.7.2. Financial Performance
- 8.4.7.3. Product Benchmarking
- 8.4.7.4. Strategic Initiatives
- 8.4.8. The Charles Stark Draper Laboratory, Inc.
- 8.4.8.1. Overview
- 8.4.8.2. Financial Performance
- 8.4.8.3. Product Benchmarking
- 8.4.8.4. Strategic Initiatives
- 8.4.9. SynVivo, Inc.
- 8.4.9.1. Overview
- 8.4.9.2. Financial Performance
- 8.4.9.3. Product Benchmarking
- 8.4.9.4. Strategic Initiatives
- 8.4.10. AlveoliX AG
- 8.4.10.1. Overview
- 8.4.10.2. Financial Performance
- 8.4.10.3. Product Benchmarking
- 8.4.10.4. Strategic Initiatives
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