Pet insurance plan services market slated for CAGR 16.2% by 2029

Key trends shaping the market include tele-veterinary services.

The global pet insurance plan services industry is projected to climb 16.6% this year to $6.19b, driven by higher pet adoption rates, an upsurge in veterinary care expenses, increased awareness, a growth in disposable income worldwide, as well as heightened demand for wellness.

Looking ahead, the market is projected to reach $11.29b by 2029, representing a compound annual growth rate (CAGR) of 16.2%, according to the Business Research Company.

Key trends shaping the market include digital claims processing, tele-veterinary services, tech-enabled wellness monitoring, customizable insurance products, and AI-driven risk assessment.