Pet Insurance Market Projected to Grow at 8.1% CAGR by 2032
Pet Insurance Market Projected to Grow at 8.1% CAGR by 2032

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The global pet insurance market, valued at $6.05 billion in 2018, is projected to reach $18.11 billion by 2032, estimating a compound annual growth rate (CAGR) of 8.1%. Growth in the Asia Pacific region is fueled by increasing pet health concerns, higher disposable incomes, and changing perceptions of pets as family members. The market’s expansion is also driven by rising veterinary costs and greater awareness of pet insurance, particularly in developing economies. Multi-pet policies and customer retention strategies are being introduced by insurers to enhance market growth and address diverse pet insurance needs.

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