GCC pet insurance market Size, Share, Growth Drivers, Trends, Opportunities & Forecast 2025–2030

GCC Pet Insurance Market Overview

• The GCC Pet Insurance Market is valued at USD 180 million, based on a five-year historical analysis. This growth is primarily driven by increasing pet ownership, rising awareness of pet health, and the growing trend of pet humanization among consumers. The demand for comprehensive pet insurance plans has surged as pet owners seek to mitigate veterinary costs and ensure the well-being of their pets. Recent trends also highlight the expansion of digital insurance platforms, the introduction of customizable coverage options, and insurer–veterinary collaborations as significant growth drivers in the region .
• The United Arab Emirates and Saudi Arabia dominate the GCC Pet Insurance Market due to their high disposable incomes, a growing population of pet owners, and a strong emphasis on pet care and welfare. These countries have seen a significant increase in the number of veterinary clinics and pet service providers, further driving the demand for pet insurance products .
• Pet insurance in the United Arab Emirates is governed by theInsurance Authority Board of Directors’ Resolution No. (3) of 2010 Concerning the Instructions for Licensing and Registration of Insurance-Related Professions, issued by the UAE Insurance Authority. This regulation requires all insurance providers, including those offering pet insurance, to be licensed and to comply with operational standards, consumer protection measures, and product disclosure requirements. The regulation ensures that pet insurance products meet minimum coverage and transparency standards, supporting responsible pet ownership and access to veterinary care .

GCC Pet Insurance Market Segmentation

By Type:This segmentation includes various types of pet insurance products that cater to different needs and preferences of pet owners. The subsegments are Accident Only, Accident & Illness, Chronic Conditions, Wellness/Preventive Care Plans, Third-Party Liability, and Others. Each type serves a unique purpose, addressing specific concerns of pet owners regarding their pets' health and safety. Comprehensive plans, particularly Accident & Illness, are increasingly favored due to their broader coverage and the rising costs of veterinary care .

TheAccident & Illnesssegment is currently dominating the market due to the increasing prevalence of pet health issues and the rising costs of veterinary care. Pet owners are increasingly opting for comprehensive plans that cover both accidents and illnesses, ensuring that they are financially prepared for unexpected medical expenses. This trend is further fueled by the growing awareness of the importance of pet health insurance among consumers, leading to a higher adoption rate of these policies .

By End-User:This segmentation focuses on the different categories of customers who purchase pet insurance. The subsegments include Individual Pet Owners, Veterinary Clinics & Hospitals, Pet Retailers, and Pet Breeders. Each end-user group has distinct needs and motivations for acquiring pet insurance, influencing their purchasing decisions. Individual pet owners are the primary market drivers, motivated by rising veterinary costs and a desire for financial protection .

Individual Pet Ownersrepresent the largest segment in the market, driven by the increasing number of households owning pets and the growing awareness of the benefits of pet insurance. This demographic is particularly concerned about the rising costs of veterinary care and seeks insurance solutions that provide peace of mind and financial protection. As pet ownership continues to rise, this segment is expected to maintain its leadership in the market .

GCC Pet Insurance Market Competitive Landscape

The GCC Pet Insurance Market is characterized by a dynamic mix of regional and international players. Leading participants such as RSA Insurance Group (UAE), Oman Insurance Company (UAE), AXA Gulf (now GIG Gulf), National General Insurance (NGI) (UAE), Al Ain Ahlia Insurance Company (UAE), Qatar Insurance Company (QIC), Tawuniya (Saudi Arabia), Gulf Insurance Group (GIG) (Kuwait), Orient Insurance (UAE), Tokio Marine & Nichido Fire Insurance Co. (UAE), Al Sagr National Insurance Company (UAE), Al Khaleej Takaful Insurance (Qatar), Watania Takaful Insurance (UAE), Salama Islamic Arab Insurance Company (UAE), and GIG Bahrain contribute to innovation, geographic expansion, and service delivery in this space.

GCC Pet Insurance Market Industry Analysis

Growth Drivers

• Increasing Pet Ownership:The GCC region has witnessed a significant rise in pet ownership, with over 30 million pets reported in future. This increase is driven by changing lifestyles and a growing affinity for pets as family members. The UAE alone saw a 20% rise in pet ownership in recent years, indicating a robust demand for pet-related services, including insurance. This trend is expected to continue, further propelling the pet insurance market.
• Rising Awareness of Pet Health:Pet owners in the GCC are increasingly prioritizing their pets' health, leading to a surge in demand for veterinary services. The veterinary care market in the region was valued at approximately $800 million in future, reflecting a notable increase from previous years. This heightened awareness is driving the adoption of pet insurance, as owners seek to mitigate the financial risks associated with unexpected veterinary expenses.
• Technological Advancements in Insurance:The GCC pet insurance market is benefiting from technological innovations, such as digital platforms for policy management and claims processing. Over 40% of pet insurance policies were purchased online in future, a trend that is expected to grow as more consumers embrace digital solutions. These advancements not only enhance customer experience but also streamline operations for insurers, making pet insurance more accessible and appealing.

Market Challenges

• Limited Awareness of Pet Insurance:Despite the growth in pet ownership, awareness of pet insurance remains low in the GCC. Only 25% of pet owners were aware of available insurance options in recent periods. This lack of knowledge poses a significant barrier to market growth, as many potential customers remain unaware of the benefits and coverage options that pet insurance can provide.
• High Premium Costs:The cost of pet insurance premiums in the GCC can be prohibitive for many pet owners. The average annual premium for pet insurance was around $400, which is considered high compared to other regions. This financial burden can deter pet owners from purchasing insurance, limiting market penetration and growth potential in the region.

GCC Pet Insurance Market Future Outlook

The GCC pet insurance market is poised for significant growth, driven by increasing pet ownership and a shift towards preventive care. As pet owners become more aware of the benefits of insurance, demand for customizable plans is expected to rise. Additionally, the integration of technology in insurance processes will enhance customer engagement and streamline operations. The market is likely to see innovative products tailored to specific needs, fostering a more competitive landscape and encouraging broader adoption among pet owners.

Market Opportunities

• Growth in E-commerce for Pet Products:The rise of e-commerce in the GCC presents a unique opportunity for pet insurance providers. Online pet product sales are projected to reach $500 million in future, and insurers can leverage this trend by offering bundled insurance products alongside e-commerce platforms, enhancing visibility and accessibility for potential customers.
• Partnerships with Veterinary Clinics:Collaborating with veterinary clinics can create synergies that benefit both parties. By forming partnerships, insurers can offer exclusive discounts or packages to clinic clients, increasing policy uptake. Clinics reported a 30% increase in client inquiries about insurance options in recent periods, highlighting the potential for growth through strategic alliances.