Kathmandu. The demand for horse insurance is increasing in the world.
According to the Future Market Insights report, the size of the global horse insurance market is expected to reach $ 1.73 billion in the next 10 years. The horse insurance market is expected to be $666.6 million in 2025. By 2035, it is projected to grow by an average of 10 percent annually to $2.75 billion.
The demand for horse insurance is increasing rapidly in emerging markets. According to the report, China will see an average annual growth of 13.5 percent. Investment in horses used in special types of sports and luxurious lifestyles is increasing.
In the next 10 years, the horse insurance market is expected to grow by 12.5 per cent in India, 11.5 per cent in Germany, 9.5 per cent in the UK and 8.5 per cent in the US. Rising veterinary costs, high liability claims and rising horse prices are driving demand for insurance, the report said. – Agency
