Press release
Veterinary Telehealth Global Market Expected to Witness $8.99 Billion with Impressive Growth at a 19.0% CAGR By 2028 | FirstVet, VetCT, TeleVet, Practo, VetFamily, Vettr
Veterinary Telehealth Global Market
The Business Research Company offers in-depth market insights through Veterinary Telehealth Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The veterinary telehealth market size has grown rapidly in recent years. It will grow from $3.74 billion in 2023 to $4.48 billion in 2024 at a compound annual growth rate (CAGR) of 19.8%. The growth in the historic period can be attributed to strong emerging markets growth, increased spending on pets, supportive government initiatives, and increased penetration of pet insurance.
The veterinary telehealth market size is expected to see rapid growth in the next few years. It will grow to $8.99 billion in 2028 at a compound annual growth rate (CAGR) of 19.0%. The growth in the forecast period can be attributed to the increasing pet ownership, the increasing consumption of animal-derived products, and the increasing urbanization. Major trends in the forecast period include advanced technologies such as artificial intelligence, new facility expansions, partnerships and collaborations, and launch of new veterinary telehealth services to improve their financial strength and product portfolio.
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Market Segmentation:
The veterinary telehealth market covered in this report is segmented -
1) By Animal Type: Canine, Feline, Equine, Bovine, Swine, Other Animal Types
2) By Service Type: Telemedicine, Teleconsulting, Telemonitoring, Other Service Types
Major Driver - Rising Zoonotic Disease Incidences Fuel Demand For Veterinary Telehealth Services
The growing prevalence of zoonotic diseases in animals is expected to propel the growth of the veterinary healthcare market going forward. Zoonotic diseases are a group of common diseases caused by pathogenic germs such as viruses, bacteria, parasites, and fungi. These viruses can cause various ailments in humans and animals, from moderate to severe illness and even death. Veterinary telemedicine services can help to reduce zoonotic infections in animals by enabling disease detection and management. Veterinarians can discover and diagnose diseases in their early stages by providing virtual consultations with pet owners, thereby limiting the spread of zoonotic infections. For instance, in July 2022, according to an article published by the World Health Organization, a Switzerland-based government agency, states that there was a 64% rise in the number of zoonotic cases in Africa. Furthermore, zoonotic illnesses are on the increase both internationally and in India. These emerging infectious diseases in humans account for 60% of cases, with 816 zoonotic pathogens out of 1407 human pathogens. Therefore, the growing prevalence of zoonotic disease in animals will drive the veterinary telehealth market.
Competitive Landscape:
Major companies operating in the veterinary telehealth market report are FirstVet, Whiskers Worldwide, LLC, Airvet, BondVet, Fuzzy Pet Health,Petzam, PetDesk, WellHaven Pet Health, VetCT, TeleVet, Practo, VetFamily, Vettr, The Vet Connection, Homevet, China Animal Healthcare Ltd, Ceva Sant Animale, Merck/MSD Animal Health, Boehringer Ingelheim, VetPlanet, VetNOW, Vetster, Pawzy, PocketPills for Pets, VIC Animal Health, AVZ animal health, Provet Group, VitOMEK LCC, Micro-plus, Biowet, Bioveta, VELELEK, Delos Medica, Vetro Solutions, Belfarmacom, Pawp, GuardianVets, PetLove, Doctor Vet, Teleconsulta Veterinaria, Vetwork, Aster DM Healthcare, Sesneber International, GE Healthcare, Medtronic Saudi Arabia, Cisco Saudi Arabia Limited Company, Altibbi, Global Vet Ltd, Multivet Ghana Ltd
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Top Trend - Veterinary Telehealth Market Embraces AI For Advanced Pet Care Solutions
Major companies operating in the veterinary telehealth market are focusing on advanced technologies such as artificial intelligence (AI) to strengthen their position in the market. AI algorithms analyze a pet's medical history, genetic information, lifestyle factors, and even environmental data to develop customized treatment plans. For example, in May 2023, PetHub Inc., a US-based company that connects pet owners with resources, tools, savings, and a place to store key pet data, launched a new wellness tool for pet owners, powered by VetInsight. The PetHub Wellness Tools include unlimited 24/7 veterinary telehealth services, a comprehensive AI symptom checker, and a virtual food and treat finder that provides custom recommendations for pets. The Symptom Checker feature is an on-demand, artificial intelligence (AI) virtual veterinarian that allows pet owners to search their pet's symptoms and receive recommendations for the next steps based on the information provided.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Veterinary Telehealth Market Characteristics
3. Veterinary Telehealth Market Trends And Strategies
4. Veterinary Telehealth Market - Macro Economic Scenario
5. Veterinary Telehealth Market Size And Growth
…..
27. Veterinary Telehealth Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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