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Beyond Market Insights reported that the global pet insurance market was worth $9.3b in 2022 and is estimated to grow to $31.13b by 2030, with a CAGR of 16.3 % over the forecast period from 2023 to 2030. The expansion is primarily due to efforts made by current providers to inform customers about rising veterinarian costs and the many benefits of pet medical insurance plans.
The global pet insurance market is segregated based on policy coverage, animal type, and sales channel. Based on policy coverage, the market is divided into accident & illness, accident only, and others. Among these, the accident & illness segment led the market in 2022 and is expected to maintain its dominance throughout the forecast period. Based on animal type, the market is classified into dogs, cats, and others. In 2022, the dog category dominated the global market. Based on sales channels, the market is classified into broker, agency, and others. The agency segment dominated the market in 2022.
https://finance.yahoo.com/news/pet-insurance-market-size-reach-124600966.html
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