Pet accident insurance hits $1.3b in 2025

Insurers are also rolling out new tools such as AI-assisted claims processing.

The global pet accident-only insurance market is forecast to increase from $1.16b in 2024 to $1.27b in 2025, reflecting a compound annual growth rate of 9.6%. 

Growth in recent years has been supported by more households owning pets, higher spending on veterinary care, greater awareness of pet health, and higher disposable incomes, according to The Business Research Company.

The market is projected to reach $1.80b by 2029, with a CAGR of 9.2%. Growth over the forecast period is expected to come from wider acceptance of pet insurance, an increase in pet-related accidents, more urban pet owners, and easier access to policies through online platforms. 

Insurers are also rolling out new tools such as AI-assisted claims processing, digital policy personalisation, mobile apps, and wearable pet health devices.

Rising pet ownership remains the main driver. Accident-only pet insurance helps cover unexpected veterinary bills from injuries, reducing the financial strain on owners and supporting quicker access to treatment.