Middle East & Africa Pet Insurance Market Size & Outlook
Middle East & Africa pet insurance market, 2018-2030 (US$M)
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MEA pet insurance market highlights
- The MEA pet insurance market generated a revenue of USD 300.1 million in 2023.
- The market is expected to grow at a CAGR of 18% from 2024 to 2030.
- In terms of segment, accident & illness was the largest revenue generating coverage type in 2023.
- Accident & Illness is the most lucrative coverage type segment registering the fastest growth during the forecast period.
- Country-wise, Kuwait is expected to register the highest CAGR from 2024 to 2030.
MEA data book summary
| Market revenue in 2023 | USD 300.1 million |
| Market revenue in 2030 | USD 957.1 million |
| Growth rate | 18% (CAGR from 2023 to 2030) |
| Largest segment | Accident & illness |
| Fastest growing segment | Accident & Illness |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Accident & Illness, Accident only |
| Key market players worldwide | Trupanion Inc, Allianz SE, Direct Line Insurance Group PLC, MetLife Inc, Deutsche Familienversicherung, Anicom, Animal Friends Insurance, Figo Pet Insurance, Nationwide Mutual Insurance, Embrace Pet Insurance, Ipet Insurance, Pumpkin Insurance Services |
Other key industry trends
- In terms of revenue, MEA region accounted for 2.6% of the global pet insurance market in 2023.
- Globally, Europe is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 5,640.2 million by 2030.
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Pet Insurance Market Scope
Pet Insurance Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Middle East & Africa pet insurance market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to pet insurance market will help companies and investors design strategic landscapes.
Accident & illness was the largest segment with a revenue share of 85.34% in 2023. Horizon Databook has segmented the Middle East & Africa pet insurance market based on accident & illness, accident only covering the revenue growth of each sub-segment from 2018 to 2030.
MEA pet insurance market is anticipated to grow over the forecast period because of rising awareness regarding animal health in developing countries such as Saudi Arabia and the South Africa. The disposable income in the region is high, which indicates higher spending capacity on animal healthcare.
Rising need for pet insurance products and services, increasing ownership of companion animals further propels the market growth in the region. The region has huge growth opportunities for cat insurance providers due to presence of large cat population.
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Target buyers of Middle East & Africa pet insurance market databook
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Our clientele includes a mix of pet insurance market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa pet insurance market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa pet insurance market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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MEA pet insurance market size, by country, 2018-2030 (US$M)
Middle East & Africa Pet Insurance Market Outlook Share, 2023 & 2030 (US$M)
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