U.S. pet insurance market to double by 2022: Here are 5 reasons why
Growing consumer awareness of pet insurance and its benefits is one factor driving growth. Here are a few more.
By Jayleen R. Heft|October 11, 2018 at 10:00 AM|The original version of this story was published on PropertyCasualty360
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Market research firm Packaged Facts forecasts that the U.S. pet health insurance industry, estimated at slightly over $1 billion in 2017, will nearly double to reach $2 billion by 2022.
The pet insurance market will grow over 14 percent per year, supported by a number of trends in both this emerging market and competitive ones, according to company experts. Most notably, increased consumer awareness will be crucial to growth.
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