France Pet Insurance Market Size, Share, and COVID-19 Impact Analysis, By Policy Coverage (Accident Only, Accident and Illness, and Others), By Animal Type (Dogs, Cats, and Others), and France Pet Insurance Market Insights, Industry Trend, Forecasts to 2033

France Pet Insurance Market Insights Forecasts to 2033

• The France Pet Insurance Market Size was valued at USD 1,808.2 Million in 2023.
• The Market is growing at a CAGR of 10.51% from 2023 to 2033
• The France Pet Insurance Market Size is Expected to Reach USD 4,910.2 Million by 2033

The France Pet Insurance Market is Anticipated to Exceed USD 4,910.2 Million by 2033, growing at a CAGR of 10.51% from 2023 to 2033.

Market Overview

Pet insurance is a form of protection that pays for all expenses related to medical treatment for a policyholder's unwell or wounded pet. Certain plans offer advantages in case a pet dies, goes missing, or is stolen. The pet insurance industry is growing due to the rising costs of veterinary care and pet owners' higher expectations for their animals' health and welfare compared to previous years. Pet insurance plan includes coverage for medical costs for treating an injured or ill pet. Owners typically choose pet insurance to reduce the financial strain of accessing veterinary care. European public and private providers offer policies for a variety of animals including dogs, cats, horses, and more. The pet insurance company provides tailor-made policies that align with the preferences of tech individuals. Their focus is on the packages based on the lifetime of the pet and a per-incident basis. The owner must file a claim with the company for the pet's treatment, and the tech company will provide reimbursement based on the policy. The number of pet animals being adopted for companionship in France has significantly risen over the past decade. Many individuals have embraced pets primarily for companionship, with a noticeable transition from pet owners to pet parents, highlighting the increasing perception of pets as valued family members.

Report Coverage

This research report categorizes the market for the France pet insurance market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the France pet insurance market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the France pet insurance market.

Driving Factors

Key factors contributing to the growth of the market include the expanding pet population, uptake of pet insurance in untapped markets, rising costs of veterinary care, efforts of major companies, and the trend of humanizing pets. Furthermore, there is an increasing demand for pet insurance to alleviate costs related to severe health issues such as accidental injuries and cancer, which is driving the growth of the market. The increase in the need for veterinary care facilities is anticipated to boost the use of pet insurance, due to the high costs involved in these services, such as capital investment, specialized staff, and diagnostic equipment, resulting in increased expenses for pet owners. Moreover, the rise in discretionary income among pet owners, particularly in emerging markets, has resulted in pet insurance becoming more cost-effective and easily obtainable, leading to an expansion in the market.

Restraining Factors

A lack of knowledge about pet insurance is impeding the expansion of the pet insurance industry by preventing potential customers from realizing the advantages and importance of pet insurance. Additionally, pet owners might not have a complete grasp of the advantages of pet insurance, including financial safeguards for unforeseen vet bills and assistance with preventative treatments.

Market Segmentation

The France pet insurance market share is classified into policy coverage and animal type.

• The accident-only segment is expected to hold the largest market share through the forecast period.   

The France pet insurance market is segmented by policy coverage into accident only, accident and illness, and others. Among them, the accident-only segment is expected to hold the largest market share through the forecast period. The rise in popularity of pet insurance and the growing expenses of treatments and medication are said to be the reasons for this trend. Moreover, having accident-only coverage in a pet insurance policy is a budget-friendly method to prevent hefty and unforeseen expenses.

• The dog segment is expected to hold the largest market share through the forecast period.

The France pet insurance market is segmented by animal type into dogs, cats, and others. Among them, the dog segment is expected to hold the largest market share through the forecast period. Dogs are the top choice for pets in many countries worldwide because of their role in providing security and the rising expenses related to their care have led to a greater need for pet insurance.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the France pet insurance market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• RSA Insurance
• Petplan (Allianz)
• AGILA (Allianz)
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In June 2024, Trupanion, Inc. (Nasdaq: TRUP) and Boehringer Ingelheim, a major player in animal health innovation worldwide, announced a partnership to improve access to top-notch healthcare and better disease treatment for pets and their owners.

Market Segment

This study forecasts revenue at France, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the France Pet Insurance Market based on the below-mentioned segments:

France Pet Insurance Market, By Policy Coverage

• Accident Only
• Accident and Illness
• Others

France Pet Insurance Market, By Animal Type

• Dogs
• Cats
• Others