At the end of 2020, more than 3 million pets were insured in North America. According to the most recent report from the North American Pet Health Insurance Association, that number increased to 4.41 million in 2021.
In the United States, there was a 28.3% increase in total pets insured in 2021, with an average annual growth rate of 21.6% since 2017. "The U.S. market represented 90.2% of North America's Total Insured Pets in 2021 and continues to outpace the Canadian market," the report states.
Dogs continue to comprise the majority of insured pets in the U.S., with 81.7% of insured dogs compared to 18.3% of insured cats in 2021. However, the market share for insured cats has been increasing every year since 2017, with a 37% increase from 2020 to 2021.
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Richard Binder
Richard Binder, based in New York, is part of the social media team at ALM. He is also a 2014 recipient of the ASPBE Award for Excellence in the Humorous/Fun Department.
