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Global Horse Insurance Market to reach USD XX million by 2028.

Global Horse Insurance Market Size study, By Type (Mortality, Major Medical & Surgical, Loss of Use, Liability), by Horse Type (American Quarter Horse, Arabian, Thoroughbred, Morgan, Appaloosa), by Application (Recreational, Commercial), by Sales Channel (Broker, Agency, Direct Response), and Regional Forecasts 2022-2028

Product Code: BFBFSI-60430276
Publish Date: 30-08-2022
Page: 200

Global Horse Insurance Market is valued approximately USD XX million in 2021 and is anticipated to grow with a healthy growth rate of more than XX % over the forecast period 2022-2028.

The Horse Insurance also known as “equine insurance” is specially designed insurance product for the horse business and offers a range of policies and coverage. This insurance is mainly used by horse farms, horse industry groups, rodeos, equestrian professionals, clubs, and exhibits related to the horse business. The rising adoption pet horses and increasing demand for quality veterinary services as well as Strategic initiatives from leading market players are factors that are accelerating the global market demand. For instance, according to American Pet Products Association’s 2021-2022 National Pet Owners Survey – as of 2021, around 3.5 million households in US owns a pet horse. Moreover, as per Pet Food Manufacturers Associations’ Pet Population 2021 report – as of 2021, the population of pet Horses and Ponies was estimated at 0.5 million, witnessing for around 1% of households. Furthermore, leading market players are working towards new acquisitions to enhance their product offering and customer portfolio. For instance, in November 2020, USA based AHT completed the acquisition of New York based Kaplow Insurance. Kaplow specialises in equine insurance, farm property and liability. Further, in May 2021, Charlotte, USA based insurance distributor AmWINS Group Inc. acquired a specialty insurance firm Equisure Inc. The company specializes in insurance for horse and dog associations. Also, growing automation in BFSI Sector coupled with increasing emergence of horse-riding events are anticipated to act as a catalyzing factor for the market demand during the forecast period. However, a high premium Cost and lack of awareness towards Horse Insurance impede the growth of the market over the forecast period of 2022-2028.

The key regions considered for the global Horse Insurance Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the growing adoption of horse events and presence of leading insurance providers. Whereas, Asia Pacific is anticipated to exhibit a significant growth rate over the forecast period 2022-2028. Factors such as the increasing adoption of pet horses and rising awareness onwards horse insurance solutions, would create lucrative growth prospects for the global Horse Insurance Market across the Asia Pacific region.

Major market players included in this report are:
Markel Corporation
Harry Hall Horse Insurance
The Insurance Emporium Horse Insurance
Animal Friends Horse Insurance
Quotezone Horse Insurance
Pet Plan
Pet Assure

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type
Major Medical & Surgical
Loss of Use
By Horse Type
American Quarter Horse
By Application
By Sales Channel
Direct Response
By Region:
North America

Asia Pacific
South Korea
Latin America
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019, 2020
Base year – 2021
Forecast period – 2022 to 2028

Target Audience of the Global Horse Insurance Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2028 (USD Million)
1.2.1. Global Horse Insurance Market, by Region, 2020-2028 (USD Million)
1.2.2. Global Horse Insurance Market, by Type, 2020-2028 (USD Million)
1.2.3. Global Horse Insurance Market, by Horse Type, 2020-2028 (USD Million)
1.2.4. Global Horse Insurance Market, by Application, 2020-2028 (USD Million)
1.2.5. Global Horse Insurance Market, by Sales Channel, 2020-2028 (USD Million)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Horse Insurance Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Horse Insurance Market Dynamics
3.1. Horse Insurance Market Impact Analysis (2020-2028)
3.1.1. Market Drivers Rising adoption pet horses. Increasing demand for quality veterinary services Strategic initiatives from leading market players.
3.1.2. Market Challenges High premium Cost. Lack of awareness towards Horse Insurance.
3.1.3. Market Opportunities Growing automation in BFSI Sector. Increasing emergence of horse-riding events.
Chapter 4. Global Horse Insurance Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2018-2028)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
4.5. Top investment opportunity
4.6. Top winning strategies
Chapter 5. Risk Assessment: COVID-19 Impact
5.1.1. Assessment of the overall impact of COVID-19 on the industry
5.1.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Horse Insurance Market, by Type
6.1. Market Snapshot
6.2. Global Horse Insurance Market by Type, Performance – Potential Analysis
6.3. Global Horse Insurance Market Estimates & Forecasts by Type 2018-2028 (USD Million)
6.4. Horse Insurance Market, Sub Segment Analysis
6.4.1. Mortality
6.4.2. Major Medical & Surgical
6.4.3. Loss of Use
6.4.4. Liability
Chapter 7. Global Horse Insurance Market, by Horse Type
7.1. Market Snapshot
7.2. Global Horse Insurance Market by Horse Type, Performance – Potential Analysis
7.3. Global Horse Insurance Market Estimates & Forecasts by Horse Type 2018-2028 (USD Million)
7.4. Horse Insurance Market, Sub Segment Analysis
7.4.1. American Quarter Horse
7.4.2. Arabian
7.4.3. Thoroughbred
7.4.4. Morgan
7.4.5. Appaloosa
Chapter 8. Global Horse Insurance Market, by Application
8.1. Market Snapshot
8.2. Global Horse Insurance Market by Application, Performance – Potential Analysis
8.3. Global Horse Insurance Market Estimates & Forecasts by Application 2018-2028 (USD Million)
8.4. Horse Insurance Market, Sub Segment Analysis
8.4.1. Recreational
8.4.2. Commercial
Chapter 9. Global Horse Insurance Market, by Sales Channel
9.1. Market Snapshot
9.2. Global Horse Insurance Market by Sales Channel, Performance – Potential Analysis
9.3. Global Horse Insurance Market Estimates & Forecasts by Sales Channel 2018-2028 (USD Million)
9.4. Horse Insurance Market, Sub Segment Analysis
9.4.1. Broker
9.4.2. Agency
9.4.3. Direct Response
Chapter 10. Global Horse Insurance Market, Regional Analysis
10.1. Horse Insurance Market, Regional Market Snapshot
10.2. North America Horse Insurance Market
10.2.1. U.S. Horse Insurance Market Type estimates & forecasts, 2018-2028 Horse Type estimates & forecasts, 2018-2028 Application estimates & forecasts, 2018-2028 Sales Channel estimates & forecasts, 2018-2028
10.2.2. Canada Horse Insurance Market
10.3. Europe Horse Insurance Market Snapshot
10.3.1. U.K. Horse Insurance Market
10.3.2. Germany Horse Insurance Market
10.3.3. France Horse Insurance Market
10.3.4. Spain Horse Insurance Market
10.3.5. Italy Horse Insurance Market
10.3.6. Rest of Europe Horse Insurance Market
10.4. Asia-Pacific Horse Insurance Market Snapshot
10.4.1. China Horse Insurance Market
10.4.2. India Horse Insurance Market
10.4.3. Japan Horse Insurance Market
10.4.4. Australia Horse Insurance Market
10.4.5. South Korea Horse Insurance Market
10.4.6. Rest of Asia Pacific Horse Insurance Market
10.5. Latin America Horse Insurance Market Snapshot
10.5.1. Brazil Horse Insurance Market
10.5.2. Mexico Horse Insurance Market
10.6. Rest of The World Horse Insurance Market

Chapter 11. Competitive Intelligence
11.1. Top Market Strategies
11.2. Company Profiles
11.2.1. Markel Corporation Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
11.2.2. AXA
11.2.3. Harry Hall Horse Insurance
11.2.4. The Insurance Emporium Horse Insurance
11.2.5. Animal Friends Horse Insurance
11.2.6. Quotezone Horse Insurance
11.2.7. Pet Plan
11.2.8. ASPCA
11.2.9. Nationwide
11.2.10. Pet Assure
Chapter 12. Research Process
12.1. Research Process
12.1.1. Data Mining
12.1.2. Analysis
12.1.3. Market Estimation
12.1.4. Validation
12.1.5. Publishing
12.2. Research Attributes
12.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
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