Pet Insurance in the US Industry Market Research Report from IBISWorld Has …
News from Benzinga:

Rising costs of veterinary care and mounting consumer awareness of industry offerings have led to growth in sales of pet insurance. For this reason, industry research firm IBISWorld has updated a report on the Pet Insurance industry in its growing industry report collection.

(PRWEB) April 17, 2015

Despite accounting for only a marginal portion of the broader Property, Casualty and Direct Insurance industry, rapidly increasing consumer awareness and acceptance of industry offerings has benefited the Pet Insurance industry substantially over the five-year period. According to the latest available data from the Department of Clinical Veterinary Science and the Pet Food Institute, 30.0% of pets in Sweden and 23.0% of pets in the United Kingdom are covered by pet insurance policies. Alternatively, only 1.0% of domestic pets are insured; yet, this figure continues to rise and will provide the basis for sustained industry growth. More specifically, over the five years to 2015, industry revenue is anticipated to rise at an annualized rate of 10.9% to reach $ 721.0 million; this growth includes an expected 12.6% increase in revenue in 2015 alone.

According to IBISWorld Industry Analyst Stephen Hoopes, “Pet…………… continues on Benzinga

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