Companion Animal Insurance Market Report 2026

The companion animal insurance market size has grown rapidly in recent years. It will grow from $6.4 billion in 2025 to $7.29 billion in 2026 at a compound annual growth rate (CAGR) of 13.9%. The growth in the historic period can be attributed to increasing pet ownership rates, rising veterinary treatment costs, growing awareness of pet healthcare coverage, expansion of private insurance providers, increased humanization of companion animals.

The companion animal insurance market size is expected to see rapid growth in the next few years. It will grow to $12.1 billion in 2030 at a compound annual growth rate (CAGR) of 13.5%. The growth in the forecast period can be attributed to increasing demand for personalized pet insurance plans, growing use of ai in claims assessment, expansion of coverage for senior pets, rising focus on preventive veterinary care, increasing penetration of online insurance distribution. Major trends in the forecast period include increasing adoption of digital pet insurance platforms, rising demand for comprehensive accident and illness coverage, growing popularity of preventive care and wellness plans, expansion of data-driven risk pricing models, enhanced focus on claims automation and transparency.

The increasing focus on companion animal welfare is expected to fuel growth in the companion animal insurance market. Companion animal welfare encompasses the overall health, comfort, and quality of life of pets, including access to proper nutrition, medical care, and a safe environment. Public concern for animal welfare is rising due to greater awareness of animal sentience and increased sensitivity toward their treatment. Companion animal insurance supports welfare by making veterinary care more affordable and accessible, reducing the likelihood of delayed or forgone treatment. For example, in June 2023, the Royal Society for the Prevention of Cruelty to Animals (RSPCA), a UK-based animal protection organization, reported that 23% of pet owners expressed concern about feeding their animals, up from 19% in 2022. Consequently, growing concern for companion animal welfare is driving the expansion of the companion animal insurance market.

Leading companies in the companion animal insurance market are developing advanced solutions, such as telehealth integration platforms, to enhance pet health monitoring and streamline insurance claims processes. Telehealth platforms allow pet owners to connect virtually with veterinarians and access real-time health data, supporting preventive care and early diagnosis. For example, in January 2024, Petco Health and Wellness Company Inc., a US-based pet care provider, launched a co-branded pet insurance product in partnership with Nationwide Pet Insurance, a US-based pet health insurer. The product offers easy access to veterinary telehealth services, simplified claims submission, and personalized health plans, providing convenient, comprehensive coverage and improved pet health outcomes. This collaboration combines Nationwide’s insurance expertise with Petco’s customer base and veterinary network, integrating insurance with Petco’s services to offer discounts, digital tools, and a seamless online and in-person pet care experience.

In April 2024, Independence Pet Holdings Inc., a US-based company managing a portfolio of pet health brands and services, acquired Pets Best Insurance Services LLC for an undisclosed sum. Through this acquisition, Independence Pet Holdings aims to strengthen its presence in the North American pet insurance market by integrating Pets Best’s digital-first insurance platform and customer base into its portfolio of 15 pet health brands. The move is intended to enhance service continuity, expand coverage options, and accelerate innovation in pet wellness and financial protection. Pets Best Insurance Services LLC, based in the US, specializes in companion animal insurance and offers customizable pet health coverage.

Major companies operating in the companion animal insurance market are MetLife Pet Insurance, Royal & Sun Alliance Insurance Group, AXIS Capital Holdings Limited, The New India Assurance Company Limited, Trupanion Inc., Bajaj Allianz General Insurance Company Limited, Anicom Holdings Inc., Petsure Pty Ltd., Feather Insurance Services GmbH, ManyPets Limited, Agria Pet Insurance Limited, Prudent Pet Insurance Company, The Kennel Club Insurance, Odie Pet Insurance Company, Lassie AB, Everypaw Pet Insurance, Nationwide Pet Insurance, Healthy Paws Pet Insurance, Embrace Pet Insurance, ASPCA Pet Health Insurance.

North America was the largest region in the companion animal insurance market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the companion animal 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 companion animal insurance market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The companion animal insurance market includes revenues earned by entities through the claims processing, policy administration, risk assessment, telehealth consultation and wellness plan management. 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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