According to recent market reports published by the North American Pet Health Insurance Association (NAPHIA), roughly 4 percent of pets in the United States are covered by active pet insurance policies. Although the American pet insurance market has experienced a significant compound annual growth rate over recent years due to soaring veterinary inflation and advanced medical treatments, penetration rates remain notably lower in the U.S. compared to European nations like the United Kingdom or Sweden, where a much higher percentage of pet owners insure their animals.
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