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The Business Research Company’s Pet Cat Lifetime Insurance Global Market Report 2025 – Market Size, Trends, And Forecast 2025-2034
LONDON, GREATER LONDON, UNITED KINGDOM, September 8, 2025 /EINPresswire.com/ — What Is The Expected Cagr For The Pet Cat Lifetime Insurance Market Through 2025?
The market for lifetime insurance for pet cats has seen a swift expansion in recent years. The market size is projected to increase from $1.38 billion in 2024 to $1.56 billion in 2025, marking a compound annual growth rate (CAGR) of 13.4%. This growth in the historic period can be credited to factors such as heightened acceptance of top-tier insurance policies, a rise in chronic conditions among cats, a boost in the availability of tailored insurance plans, a surge in the presence of online pet insurance platforms, and growth in the network of veterinary service providers.
The life insurance market for pets, specifically cats, is poised to experience substantial growth over the upcoming years. Projections estimate that it will escalate to $2.55 billion by 2029, at a compound annual growth rate (CAGR) of 13.1%. The surge during this forecasted period can be attributed to the increased demand for tailor-made insurance policies, the growth of telemedicine for pets, the rise of artificial intelligence in dealing with claims, increased consciousness regarding regular pet health check-ups, and the sweeping digitalization of insurance services. Noteworthy developments anticipated in the forecast period include progress in AI-driven claim procedures, advancement in telehealth services tailored for pets, development of customizable insurance plans, progress in mobile app for policy management, and the emergence of consolidated wearable health monitors.
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What Are The Key Factors Driving Growth In The Pet Cat Lifetime Insurance Market?
The growth of the pet cat lifetime insurance market is set to surge in response to the rising rates of pet ownership. Keeping and caring for a domestic animal like a cat or dog, known as pet ownership, typically involves providing food, shelter, and healthcare, along with emotional support. There’s an uptick in pet ownership rates as a result of an increased consciousness towards emotional and mental health, as more individuals seek out pets for companionship to combat stress and feelings of loneliness. This trend mirrors a growing consensus of pets being regarded as comforting members of families. Pet cat lifetime insurance is taken out by pet owners to cover the continuing veterinary costs for their cats suffering from chronic or recurring ailments. As per the American Pet Products Association, a trade group based in the United States, the count of households with pets is rising. There were 94 million U.S. households owning at least one pet in March 2025, marking an increase from 82 million in 2023. Hence, the burgeoning rates of pet ownership are fuelling the expansion of the pet cat lifetime insurance market.
What Are The Top Players Operating In The Pet Cat Lifetime Insurance Market?
Major players in the Pet Cat Lifetime Insurance Global Market Report 2025 include:
• PetFirst Healthcare LLC
• Nationwide Pet Insurance Company
• RSA Insurance Group
• Crum & Forster Holdings Corp.
• Trupanion Inc.
• Anicom Holdings Inc.
• Embrace Pet Insurance Agency LLC
• Fetch Insurance Services LLC
• Mylo LLC
• PetPartners Inc.
What Are The Main Trends, Positively Impacting The Growth Of Pet Cat Lifetime Insurance Market?
Prominent businesses in the pet cat lifetime insurance market are turning their attention towards forging strategic alliances in a bid to reinforce their market penetration, upgrade their product lineup, uplift customer involvement, and consolidate their foothold in the market. Essentially, strategic alliances pertain to cooperative contracts formed between multiple entities, aimed at leveraging shared objectives while maximizing each party’s core competencies and resources. In a case in point, May 2024 saw the U.S.-headquartered insurance firm, Mylo LLC, entering into a cooperative agreement with another U.S. insurer, Safeco. The partnership was designed to enhance its digital insurance portfolio by incorporating pet insurance solutions, in line with its ethos of offering all-encompassing coverage for every stage of life. Mylo proffers cost-effective insurance solutions for dogs and cats, armed with an array of flexible features such as discounts for multiple pets, preferred veterinarian usage, and lifetime protection devoid of age-related termination. Two tailor-made plans are available for customers to select from and they can apply via the online portal in a matter of minutes. The launch furthers extends to Mylo’s employee perks associates, thereby opening up access to value-based insurance for both individuals and entities, with exclusion applicable in four U.S. locales.
Comprehensive Segment-Wise Insights Into The Pet Cat Lifetime Insurance Market
The pet cat lifetime insurance market covered in this report is segmented –
1) By Coverage Type: Accident Only, Time-Limited, Maximum Benefit, Lifetime
2) By Distribution Channel: Online, Offline
3) By End-User: Residential, Commercial
Subsegments:
1) By Accident Only: Injury Treatment Coverage, Emergency Care Reimbursement, Fracture And Trauma Expenses, Bite Wound Treatment
3) By Time-Limited: Illness Coverage Within Policy Period, Short-Term Accident Insurance, Time-Bound Surgical Benefits, Temporary Chronic Condition Support
3) By Maximum Benefit: Fixed Monetary Cap Per Condition, Lifetime Condition Limit, Non-Renewable Payout Limit, Per-Condition Maximum Reimbursement
4) By Lifetime: Chronic Illness Continuous Coverage, Annual Limit With Renewal, Comprehensive Lifetime Health Plan, Ongoing Condition Reimbursement
View the full pet cat lifetime insurance market report:
https://www.thebusinessresearchcompany.com/report/pet-cat-lifetime-insurance-global-market-report
Global Pet Cat Lifetime Insurance Market – Regional Insights
In 2024, North America led as the most significant region in the pet cat lifetime insurance market. It’s projected that the Asia-Pacific region will experience the most rapid growth within the given forecast period. The report takes into account the following regions: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Browse Through More Reports Similar to the Global Pet Cat Lifetime Insurance Market 2025, By The Business Research Company
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Life Insurance Global Market Report 2025
https://www.thebusinessresearchcompany.com/report/Life-Insurance-Global-Market-Report
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