#3
Pet Insurance
US pet insurance policies reached 6.5 million in 2024—a 22% year-on-year increase—as veterinary costs rose 10% annually, with emergency bills exceeding $10,000. Providers like Trupanion, Lemonade, and Spot dominate a market projected to hit $16 billion by 2028. This growth outpaced Pet Mental Health and Anxiety Products in adoption rate. Many employers now offer pet insurance as a workplace benefit, a trend that doubled enrollment among younger pet owners.
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