Press release
Veterinary Telehealth Market Size Forecasted To Achieve $5.44 Billion By 2029 With Steady Growth
Veterinary Telehealth
What Is the Veterinary Telehealth Market Size and Projected Growth Rate?
The size of the veterinary telehealth market has experienced substantial growth over the recent past. The market is projected to expand from a value of $1.64 billion in 2024 to about $2.05 billion in 2025, marking a compound annual growth rate (CAGR) of 25.4%. Factors contributing to the growth during the historical period include robust growth in emerging markets, heightened expenditures on pets, favorable government interventions, and a rise in the uptake of pet insurance.
Repercussions of the forthcoming years are expected to hold exponential surge in the size of the veterinary telehealth market. A projection of $5.44 billion in worth is anticipated by 2029, with a compound annual growth rate (CAGR) of 27.6%. Reasons for the growth during the predicted period include the rise in pet ownership, the increased consumption of products derived from animals, and escalated urbanization. The period is expected to see prominent trends like the introduction of state-of-the-art technologies like AI, establishment of new facilities, formation of partnerships and collaborations, and the introduction of novel veterinary telehealth services to enrich financial strength and diversify product portfolio.
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What Are the Major Segments in the Veterinary Telehealth Market?
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
Subsegments:
1) By Canine: Small Breed Dogs, Large Breed Dogs
2) By Feline: Domestic Cats, Exotic Cats
3) By Equine: Horses, Ponies
4) By Bovine: Dairy Cattle, Beef Cattle
5) By Swine: Pigs, Hogs
6) By Other Animal Types: Poultry, Small Mammals, Reptiles
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What Are The Driving Veterinary Telehealth Market Evolution?
The veterinary healthcare market is expected to witness significant growth due to the increasing occurrence of zoonotic diseases in animals. Zoonotic diseases are commonly caused by infectious agents such as bacteria, viruses, fungi, and parasites. They can inflict a range of health conditions in humans and animals, ranging from mild to severe sickness and even death. Using veterinary telemedicine services can help control the spread of zoonotic infections in animals by allowing early detection and treatment of diseases. Virtual consultations with pet owners allow veterinarians to identify and diagnose diseases early, which can aid in preventing the spread of zoonotic diseases. A piece published by the World Health Organization in July 2022 reported a 64% surge in zoonotic cases in Africa according to a Switzerland-based government agency. Moreover, there is a global and national rise in zoonotic illnesses in India. These developing infectious diseases in humans account for 60% of cases, with 816 zoonotic pathogens identified out of 1407 human pathogens. Thus, the increase in zoonotic diseases in animals will push the growth of the veterinary telehealth market.
Which Firms Dominate The Veterinary Telehealth Market Segments?
Major companies operating in the veterinary telehealth market include FirstVet, Whiskers Worldwide, LLC, Airvet, BondVet, Fuzzy Pet Health,Petzam, PetDesk, WellHaven Pet Health, VetCT, TeleVet, VetFamily, Vettr, The Vet Connection, Homevet, Boehringer Ingelheim, VetPlanet, VetNOW, Vetster, Pawzy, PocketPills for Pets, VIC Animal Health, Vetro Solutions, Belfarmacom, Pawp, GuardianVets, PetLove, Doctor Vet, Teleconsulta Veterinaria, Vetwork, Altibbi, Global Vet Ltd, Multivet Ghana Ltd
What Trends Are Expected to Dominate the Veterinary Telehealth Market in the Next 5 Years?
Leading firms in the veterinary telehealth sector are prioritizing advanced technologies like artificial intelligence (AI) to bolster their market standing. AI algorithms scrutinize a pet's medical history, genetic makeup, lifestyle indicators, and even environmental information to form tailor-made treatment plans. For instance, in May 2023, PetHub Inc., a US-based enterprise facilitating pet owners with resources, toolkits, savings, and a location to keep crucial pet information, introduced a new wellness tool for pet owners, powered by VetInsight. The PetHub Wellness Tools comprise limitless 24/7 veterinary telehealth facilities, a comprehensive AI symptom examiner, and a digital food and treat finder offering personalized suggestions accommodating pets' needs. The Symptom Checker feature is an instant, AI-powered virtual vet, enabling pet owners to explore their pet's symptoms and acquire directives for prospective steps based on the data given.
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Which Is The Largest Region In The Veterinary Telehealth Market?
North America was the largest region in the veterinary telehealth market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the veterinary telehealth market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Veterinary Telehealth Market?
2. What is the CAGR expected in the Veterinary Telehealth Market?
3. What Are the Key Innovations Transforming the Veterinary Telehealth Industry?
4. Which Region Is Leading the Veterinary Telehealth Market?
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