The latest report from Reports and Data reveals that the global Veterinary Telehealth Market was valued at USD 109.64 million in 2022, and it is anticipated to exhibit a revenue compound annual growth rate (CAGR) of 15% throughout the forecast period.
Veterinary telehealth refers to the utilization of telecommunications technology to deliver veterinary healthcare services from a distance. This includes services such as video consultations, remote monitoring, and various virtual care options.
The market’s revenue growth is being propelled by several contributing factors, including the increasing trend of humanizing domestic animals and the rising expenditures on pet healthcare. The American Pet Products Association (APPA) estimates that the pet industry in the United States allocated approximately USD 99 billion in 2020, with Veterinary Care accounting for around 26% of the total expenditure. Additionally, there is a growing prevalence of veterinary telehealth services due to the growing adoption of pets as companions and heightened awareness among pet owners about the significance of their pets’ well-being.
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Advancements in technology, including the development of pet wearable devices and the integration of Artificial Intelligence (AI) and Machine Learning (ML) technologies into telehealth solutions, are driving the demand for veterinary telehealth services. One notable example is smart collars, which allow real-time monitoring of a pet’s vital signs and health conditions. Veterinarians can access this data remotely, enabling them to make diagnoses and provide treatment recommendations. The incorporation of AI and ML technologies in telehealth solutions has also enhanced predictive analytics and the creation of personalized treatment plans based on pet health data, ultimately elevating the overall quality of care.
Key players in the Veterinary Telehealth Market:
Some Key Highlights in the Report:
- In 2022, the primary source of revenue in the worldwide veterinary telehealth market was video conferencing, thanks to the increasing use of this technology for online consultations between pet owners and veterinarians. The more personalized and interactive nature of video conferencing allowed veterinarians to deliver more comprehensive treatment to their patients.
- During the same year, the segment with the highest revenue growth rate in the global veterinary telehealth market was pet owners. This growth was driven by the global surge in pet adoption and the growing demand for remote pet healthcare services. Additionally, the trend of humanizing pets and the availability of various telehealth services like video consultations, online chats, and remote monitoring contributed to the revenue boost in this market.
- In 2022, North America dominated the global veterinary telehealth market in terms of revenue share. This can be attributed to the increasing adoption of telehealth solutions by veterinary hospitals and clinics in the region. Furthermore, the market’s revenue growth was fueled by the growing need to monitor pets with chronic illnesses and the rising demand for remote consultation services, driven by a shortage of veterinary specialists. The market saw a high demand for telemedicine software solutions that enable real-time communication and seamless integration with existing veterinary practice management systems.
- Looking ahead, the European market is anticipated to experience the most rapid revenue growth in the global veterinary telehealth market during the forecast period. This growth is linked to the rising demand for preventive pet care services and increased awareness of pet health in the region. Furthermore, the adoption of advanced technologies like telemedicine, remote monitoring, and data analytics is gaining momentum and is expected to drive revenue growth. Additionally, the increasing demand for telemedicine platforms offering features such as video consultations, electronic medical records, and appointment scheduling will also contribute to revenue growth in this region.
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For the purpose of this report, Reports and Data has segmented the global veterinary telehealth market on the basis of Technology Outlook, Application Outlook, End-use Outlook, and Regional Outlook:
Technology Outlook (Revenue, USD Million; 2022 – 2032)
Application Outlook (Revenue, USD Million; 2022 – 2032)
End-use Outlook (Revenue, USD Million; 2022 – 2032)
- Veterinary Hospitals
- Veterinary Clinics
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Regional Outlook (Revenue, USD Billion; 2022-2032)
- North America
- Rest of Europe
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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Some points on how the report benefits stakeholders:
- The reports include historical (2020–2021) and forecast (2022–2032) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
- Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2019 and 2030.
- The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
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- The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.
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