Veterinary Telehealth Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Jul 14, 2024 - 18:14

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Veterinary Telehealth Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope
Veterinary telehealth refers to any use of technology to provide health information, education, or remote care for vets. Veterinary telehealth involves the use of electronic medical information interchange from one site to another to improve and analyze animals' overall health status.

Sizing and 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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Segmentation & Regional Insights
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

North America was the largest region in the veterinary telehealth market in 2023. 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.

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Major Driver Impacting Market Growth
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.

Key Industry Players
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

The veterinary telehealth market report table of contents includes:

1. Executive Summary
2. Veterinary Telehealth Market Characteristics
3. Veterinary Telehealth Market Trends And Strategies
4. Veterinary Telehealth Market - Macro Economic Scenario
5. Global Veterinary Telehealth Market Size and Growth
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31. Global Veterinary Telehealth Market Competitive Benchmarking
32. Globa Veterinary Telehealth Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Fat Replacers Market
34. Veterinary Telehealth Market Future Outlook and Potential Analysis
35. Appendix