Pet Insurance Market Report 2026

The pet insurance market size has grown rapidly in recent years. It will grow from $10.66 billion in 2025 to $12.53 billion in 2026 at a compound annual growth rate (CAGR) of 17.6%. The growth in the historic period can be attributed to rising pet ownership globally, increasing veterinary treatment costs, growing awareness of pet healthcare needs, expansion of insurance based financial protection, early development of structured pet insurance plans.

The pet insurance market size is expected to see rapid growth in the next few years. It will grow to $24.08 billion in 2030 at a compound annual growth rate (CAGR) of 17.7%. The growth in the forecast period can be attributed to increasing demand for comprehensive pet health coverage, rising investments in veterinary healthcare services, growing pet humanization trends, expansion of insurance offerings across regions, strengthening focus on long term pet wellness security. Major trends in the forecast period include growing awareness of veterinary healthcare protection, rising preference for financial risk coverage for pets, increasing enrollment in comprehensive pet insurance plans, expansion of private pet insurance providers, strengthening focus on affordable premium offerings.

The rising number of pet adoptions is expected to propel the growth of the pet insurance market going forward. Pet adoptions refer to the process of bringing previously homeless or shelter animals into permanent households. Pet adoptions are increasing due to the growing humanization of pets, as more people view companion animals as family members and feel motivated to provide them with long-term care and protection. Pet insurance supports pet adoptions by reducing the financial burden of veterinary care, making it easier and more reassuring for families to adopt and responsibly care for pets. For instance, in July 2025, according to the World Animal Foundation, a US-based nonprofit animal welfare organization, a total of 4,192,443 dogs and cats were adopted in 2024, including approximately 2 million dogs and 2 million cats. Therefore, the rising number of pet adoptions is driving the growth of the pet insurance market.

Major companies operating in the pet insurance market are focusing on incorporating advanced technologies such as telehealth integration to enhance customer support, real-time monitoring, and claims processing efficiency. Telehealth integration involves the use of digital communication tools that connect pet owners with licensed veterinarians remotely, enabling virtual consultations, real-time guidance, and faster triage during emergencies. For instance, in May 2024, Unum Group, a US-based employee benefits provider, launched Unum Pet Insurance, a digital pet insurance product designed to simplify enrollment, streamline claims handling, and strengthen telehealth-based pet care. The offering includes 24/7 live veterinary consultations through its VetHelpline service, mobile claims submission with digital payments, and optional wellness and lost-pet support. Unum Pet Insurance enhances operational efficiency, improves customer convenience, and supports informed decision-making for employers and pet owners.

In May 2023, JAB Holding Company, a Luxembourg-based conglomerate, acquired Pumpkin Insurance Services Inc. for an undisclosed sum. This acquisition represents a strategic effort by JAB Holding to strengthen its position in the fast-growing pet insurance sector and enhance its range of services. Pumpkin Insurance Services Inc. is a US-based provider of pet insurance.

Major companies operating in the pet insurance market report are Trupanion Inc., Nationwide Mutual Insurance Company, Pets Best Insurance Services LLC, Healthy Paws Pet Insurance LLC, Figo Pet Insurance LLC, Fetch Pet Insurance LLC, PetFirst Healthcare LLC, Prudent Pet Insurance Company, Bivvy Pet Insurance Company, ASPCA Pet Health Insurance Program, American Kennel Club Pet Insurance, Hartville Pet Insurance Company, Petplan Limited, Animal Friends Insurance Ltd., ManyPets Group Limited, Bought By Many Limited, Lemonade Insurance Company, PetSure Australia Pty Ltd., Medibank Private Limited, Petcover Australia Pty Ltd.

North America was the largest region in the pet insurance market in 2025. The regions covered in the pet insurance market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the pet insurance market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The pet insurance market includes revenues earned by entities by providing services such as lifetime cover, time-limited cover and money-limit cover. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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