Although rising policy sales over the past few years suggest there is growing interest in pet insurance among American pet owners, the U.S. market still has a long way to go if it is to achieve the level of penetration seen in Great Britain (25% of dog owners) or Sweden (nearly 50% of all pet owners), since the rate of pet insurance ownership in the United States is still in the low single digits. At the core of the challenge are a much tougher regulatory environment for pet insurance in this country, concerns that existing plans do not offer enough value, competition from managed veterinary care providers and discounters, and a lukewarm feeling among veterinarians and retailers when it comes to promoting pet insurance to their clients and customers. Nevertheless, marketers and investors remain optimistic, bringing to bear in this market an increasingly sophisticated arsenal of strategic initiatives.
Pet Insurance in North America, a fully updated edition of Packaged Facts’ pioneering report on the U.S. pet insurance industry, charts historical sales for the past five years and makes market projections through 2010, expanding coverage to examine more fully the North American market including Canada. It profiles leading providers Veterinary Pet Insurance (VPI), Pethealth, Hartville, and Pet Protect, as well as competitive health plan providers and discounters from outside the pet insurance fold, such as Banfield, PrePaid Vet, AmeriPlan, CareCredit, and Pet Assure. Extending beyond the traditional veterinary marketing model, educating consumers about pet insurance is at the center of most companies’ market expansion plans for the future, as is building strong relationships with partners capable of delivering solid referrals—as seen in Pethealth’s renewed alliance with PETCO, Hartville’s tie-in with PetMed Express and the American Kennel Club, and VPI’s synergy with Iams. The report also covers employee benefit plans as a route to fast-track growth, as well as bellwether trends in the more developed and still-growing U.K. market.
Packaged Facts’ Pet Products and Services Collection
Packaged Facts is the leading source of market intelligence for pet products and services. No other market research publisher offers the breadth and depth of coverage in this lucrative, fast-growing industry. Other titles include The U.S. Market for Pet Food, The U.S. Pet Insurance Market, Market Trends: Pet Supplements and Nutraceuticals, Market Trends: Natural, Organic and Eco-Friendly Pet Products, and The U.S. Market for Pet Services.
The information contained in this report was obtained from both primary and secondary research. Primary research entailed attendance at industry trade shows and extensive interviews with industry officials. Secondary research included extensive Internet canvassing and research- and data-gathering from relevant trade, business, and government sources; company reports including annual reports, 10Ks, and other financial releases from public companies; company profiles in trade and consumer publications; and other reports by Packaged Facts, which has been reporting on pet-related markets for nearly two decades.
Our market size estimates are based on extensive interviewing, company reports and figures appearing in the trade press. Our analysis of consumer demographics derives primarily from the Simmons Market Research Bureau (New York, New York) spring 2005 consumer survey, which is based on approximately 28,000 respondents
What You’ll Get in this Report
Pet Insurance in North America: The Market and Trends in the U.S. and Canada offers unique perspective on this burgeoning market. No other market research report provides the analysis and trends coverage that this report offers. Plus, you’ll benefit from extensive data, presented in easy-to-read and practical charts, tables and graphs.