Pet - insurance market slated for $40.1 billion in 2035
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APAC is the fastest growing region.
As per the latest analysis of Market Research Future, the worldwide pet insurance sector is anticipated to note a compound annual growth rate of 12.12% throughout the period up to 2035.
This means that by 2035 the market value will be around $40.1b and the growth will be mainly due to the factors such as the increasing number of pets owned, the constantly rising veterinary expenses, and the gradually increasing knowledge about the advantages of pet insurance.
The report further stated that Asia-Pacific would be the most rapidly developing market. The rising pet adoption and the expanding middle-class segment will be the main contributors to this growth.
Sun Life has appointed Anshuman Das as the Chief Bancassurance Officer
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