United Kingdom Pet Insurance Market Segmentation Analysis Report 2021-2026 | United Kingdom Pet Insurance Industry Analysis on Size, Share, Growth, Trends, Demand, Competitive Analysis, and Forecast Report 2021-2026

Published: September 2020  |  Report ID:1029  | Pages: 150

United Kingdom Pet Insurance Market Research Analysis:

United Kingdom Pet Insurance Market size was worth USD 1.0 billion in 2018 and it is expected to reach USD 1.9 billion by the end of 2026, with growth at a CAGR of 13.1% during the forecast period 2021-2026. The Pet Insurance Market also measures significant prospects in the industry and shape the aspects that are and will be driving the growth of the pet insurance market.

Pet Insurance Policy was First Introduced in 1976:

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This pet insurance policy was primarily introduced in the year 1976, in the United Kingdom. This first insurance was provided by a monoline insurance provider. The main intent of this insurance is illness coverage, the product mainly focused on illness and accident coverage, which including unlimited coverage policy for the pet’s life, which is nothing but lifetime coverage, and congenital and hereditary conditions ( a particular breed of pet).

UK Pet Insurance Market Growth and Policy Coverage Insights:

The Pet Insurance Market also measures significant prospects in the industry and shape the aspects that are and will be driving the growth of the pet insurance market. In view of the previous market growth summaries, and market growth drivers, the overall growth of the United Kingdom pet insurance market has also been forecasted for the year of 2021-2026.

Most of the peoples in the United Kingdom will put more focus on buying pet insurance policies rather than the price. So a maximum of the pet insurance policyholders will take policy coverage that too they prefer or they will show interest to buy the policies form well-known companies, well-branded providers.

Data Research Reports analyze the pet insurance market in the United Kingdom, our research study involved market size, and changes in premiums, medical costs occurred, claims, pet ownership, and opportunities in the market. This research analysis gives a picture of the key competitors in the market, how the market is changing from previously to present, and it also gives an in-depth future analysis of the market by analyzing with the present scenario of the pet insurance market size in the United Kingdom up to 2026.

The main motto of this pet insurance policy is, whenever the insured pet falls under illness or when the pets injured in an accident, this insurance policy will help to cover the medical expenses. Major products serve dogs, and cats, even though, there are available insurance policies for horses, rabbits, fish, and unusual animals (such as exotic pets).

The UK Pet insurance market is ruled by a few major players, those key players are probably looking to balance their position in coming future years. The major fear for insurance providers will be increasing of claims costs, with gross claims cost, as well as average claims, cost gradually rising over the past years, and this trend is estimated to continue in the future.

Regional Insights:

According to our secondary research analysis, the United Kingdom continues to be a substantial provider to pet insurance market growth in the European region, owing to the market being technologically advanced, which consequences in deeper diffusion of insurance providers in the area. Generally, the pet insurance market in the UK remains beneficial for growth owing to a growing trend of holding companion animals in the region and because of the potential for offering previously available premiums and services to pet owners, who are highly aware and are agreeable to spend on pet care.

Pet insurance generally comes under four categories, listed below are:

  • Accident
  • Time-Limited
  • Maximum Benefit
  • Lifetime

Pet Insurance can also cover below facilities:

  • Medical Bills
  • Third-Party Injury & Accidental Damage
  • Death Coverage & Cremation

United Kingdom Pet Insurance Market Segmentation Analysis:

As per the Data Research Report research analysis, the Pet Insurance market is segmented into by Animal Type, by Provider, and Policy type. The Animal type segment further classified into Dog, Cat, Rabbit, Horse, and other Exotic Pets. The Provider segment is further divided into Private and Public. And another segment called by Policy type, it is further segmented into Lifetime coverage policy and No lifetime coverage policy.

Major Players listed in the market are:

According to Data Research Report analysis, Petplan was the largest pet insurer in the United Kingdom in 2018 with share 35.5% of GWP. The major key players listed in the Pet Insurance Market Petplan globally, such as Pet Insurance, Embrace Pet Insurance Agency, Royal & Sun Alliance (RSA), Pethealth Inc., Agria Pet Insurance, Petfirst Healthcare, Nationwide Pet Insurance, PetSure Pty Ltd., Petsecure Pet Health Insurance, and Hartville Group.

1. Preface

                1.1 Market Definition and Scope

                1.2 Base Currency, Base Year and Forecast Periods

                1.3 Key Research Objectives

                1.4 Research Highlights

2. General Study Assumptions

3. Research Methodology

                3.1 Introduction

                3.2 Secondary Research

                3.3 Primary Research

                3.4 Analysis Design

                3.5 Study Timeline

4. Market Dynamics

                4.1 Drivers

                4.2 Restraints

                4.3 Opportunities

                4.4 Market Trends

5. Supply Chain Analysis

6. Company Strategy Analysis

                6.1 Merger and Acquisition Analysis

                6.2 Agreements, Collaborations and Joint Ventures

                6.3 Regional Presence

                6.4 New Product Launches

7. Market Outlook

                7.1 Technological Advancement

                7.2 Pricing Analysis

                7.3 Epidemiology

                7.4 Product Landscape Analysis (Brand Tracking Analysis & Pipeline Analysis)

8. Market Segmentation

                8.1 Overview

                8.2 United Kingdom Pet Insurance Market, By Animal Type forecast year 2021-2026

                                8.2.1 Dog

                                8.2.2 Cat

                                8.2.3 Rabbit

                                8.2.4 Horse

                                8.2.5 Other Exotic Pets

                                8.2.6 Market Size Estimations & Forecasts (2021-2026)

                                8.2.7 Y-o-Y Growth Analysis

                                8.2.8 Market Investment Opportunities Analysis

                8.3 United Kingdom Pet Insurance Market, By Provider forecast year 2021-2026

                                8.3.1 Private

                                8.3.2 Public

                                8.3.6 Market Size Estimations & Forecasts (2021-2026)

                                8.3.7 Y-o-Y Growth Analysis

                                8.3.8 Market Investment Opportunities Analysis

                8.4 United Kingdom Pet Insurance Market, By Policy Type, forecast year 2021-2026

                                8.4.1 Lifetime coverage policy

                                8.4.2 No lifetime coverage policy

                                8.4.3 Market Size Estimations & Forecasts (2021-2026)

                                8.4.4 Y-o-Y Growth Analysis

                                8.4.5 Market Investment Opportunities Analysis

9. Global Market Regional and Country Analysis, Forecast 2021-2026

                9.1 Overview

                9.2 Regional Trends

                9.3 Impact Analysis

                9.4 Key Findings

                9.5 United Kingdom Pet Insurance Market,  by Region, 2021-2026

                                9.5.1 By Animal Type

                                9.5.2 By Provider

                                9.5.3 By Policy Type

10. Competitive Landscape Analysis

                10.1 Market Player

                                10.1.1 Company Revenue

                                10.1.2 Business unit

                                10.1.3 Product Mapping

                                10.1.4 Geographical Locations

                10.2 Company Share Analysis

11. Strategic Analysis

                11.1 PESTLE analysis

                11.2 Porter’s Five analysis

                                11.2.1 Bargaining Power of Suppliers

                                11.2.2 Bargaining Power of Consumers

                                11.2.3 Threat of New Entrants

                                11.2.4 Threat of Substitute Products and Services

                                11.2.5 Competitive Rivalry within the Industry

12. Company Profiles

                12.1 Petplan

                                12.1.1 Overview

                                12.1.2 Product Portfolio

                                12.1.3 Financial Details

                                12.1.4 SWOT Analysis

                                12.1.5 Market Strategies

                12.2 Embrace Pet Insurance Agency

                12.3 Royal & Sun Alliance (RSA)

                12.4 Pethealth Inc

                12.5 Agria Pet Insurance

                12.6 Petfirst Healthcare

                12.7 Nationwide Pet Insurance

                12.8 PetSure Pty Ltd

                12.9 Petsecure Pet Health Insurance

                12.10 Hartville Group

13. Market Guidance

14. Appendix