Veterinary Telemedicine Market
Veterinary Telemedicine Market Forecasts to 2030 - Global Analysis By Type (Telephone, Online and Other Types), Animal Type (Companion Animal, Livestock Animal and Other Animal Types), Service, Application, End User and By Geography
According to Stratistics MRC, the Global Veterinary Telemedicine Market is accounted for $530 million in 2023 and is expected to reach $1932 million by 2030 growing at a CAGR of 20.3% during the forecast period. Veterinary telemedicine is the provision of remote healthcare services for animals through digital communication technologies. It enables pet owners to consult with veterinary professionals, receive medical advice, and access diagnostic evaluations for their pets without the need for physical visits to a veterinary clinic. This approach offers convenience, accessibility, and timely care for animals, particularly in situations where in-person consultations may be challenging or impractical.
According to the International Renal Interest Society (IRIS), chronic kidney disease (CKD) is prevalent in aging cats and dogs.
Market Dynamics:
Driver:
Rising awareness of animal health
Pet owners are increasingly recognizing the significance of preventive care and timely intervention for their animal companions. As pet owners become more informed about the importance of regular check-ups, vaccinations, and early detection of health issues, they are seeking convenient and accessible avenues to ensure the well-being of their pets. Veterinary telemedicine offers a solution by providing remote consultations, monitoring, and advice, allowing pet owners to address concerns promptly without the need for physical clinic visits. Therefore, rising awareness of animal health is a significant factor in accelerating market demand.
Restraint:
High costs associated with the services
Developing and integrating telemedicine platforms, acquiring necessary equipment, ensuring compliance with regulatory standards, and training veterinary professionals in telemedicine protocols all entail substantial investment. Moreover, the cost of accessing telemedicine services can be a deterrent for both veterinary practices and pet owners. Pet owners may also face expenses related to purchasing compatible devices or software for telemedicine interactions. These factors hinder market expansion.
Opportunity:
Technological advancements
The continuous evolution of technology has led to the development of sophisticated telecommunication tools, high-speed internet connectivity, and innovative medical devices, all of which have revolutionized the delivery of veterinary care. Telemedicine platforms equipped with video conferencing capabilities allow veterinary professionals to conduct remote consultations, diagnose conditions, and provide treatment recommendations to pet owners from virtually anywhere. Furthermore, the proliferation of mobile devices and applications has made telemedicine more accessible and user-friendly for both veterinary professionals and pet owners.
Threat:
Data security concerns
Telemedicine involves the transmission and storage of sensitive medical information, including pet health records, diagnostic images, and the personal details of pet owners. The potential risks associated with data breaches, unauthorized access, or improper handling of confidential information raise concerns among veterinary professionals and pet owners alike. However, the loss or theft of sensitive data could lead to financial liabilities, legal consequences, and reputational damage for veterinary practices. As a result, data security concerns are a significant factor limiting market growth.
Covid-19 Impact
The COVID-19 pandemic has had a significant impact on the veterinary telemedicine market, accelerating its adoption and reshaping the landscape of veterinary care delivery. With lockdowns, social distancing measures, and restrictions on non-essential travel, pet owners have increasingly turned to telemedicine as a safe and convenient alternative to traditional in-person veterinary consultations. Moreover, veterinary practices have rapidly adopted telemedicine solutions to continue providing essential services while minimizing physical contact and reducing the risk of virus transmission.
The online segment is expected to be the largest during the forecast period
The online segment is estimated to hold the largest share. Online platforms serve as the digital infrastructure that connects pet owners with veterinarians, enabling communication and access to veterinary care. Online telemedicine platforms offer various features, including video conferencing, secure messaging, appointment scheduling, and access to medical records, allowing for comprehensive virtual consultations. Additionally, pet owners can seek advice on non-emergency issues, receive guidance on pet care, and obtain prescriptions or treatment recommendations from licensed veterinarians via online channels.
The companion animal segment is expected to have the highest CAGR during the forecast period
The companion animal segment is anticipated to have lucrative growth during the forecast period. Companion animals, including dogs, cats, and small mammals, are integral members of households worldwide, and their health and well-being are of the utmost importance to their owners. Telemedicine offers numerous benefits for companion animals and their owners. Through remote consultations, pet owners can seek timely advice and guidance from veterinary professionals without the need for physical visits to a clinic. Furthermore, telemedicine enables veterinarians to provide more personalized and proactive care for companion animals.
Region with largest share:
Asia Pacific commanded the largest market share during the extrapolated period. Rapid urbanization, increasing disposable income, and changing lifestyles have led to a surge in pet ownership across the region, particularly in countries like China, India, Japan, and South Korea. Furthermore, advancements in technology, increasing internet penetration, and the proliferation of smartphones have made telemedicine more accessible and user-friendly for both veterinary professionals and pet owners in the Asia-Pacific region.
Region with highest CAGR:
North America is expected to witness profitable growth over the projection period. The region boasts a large population of pet owners who prioritize the health and well-being of their animals, driving demand for convenient and accessible veterinary care solutions. Moreover, North America is home to a highly developed healthcare infrastructure and advanced technology ecosystem, fostering the adoption of telemedicine in veterinary practice.
Key players in the market
Some of the key players in the Veterinary Telemedicine Market include Activ4Pets, Airvet, BabelBark, Inc., GuardianVets, PetDesk, Petzam, TeleTails, Televet, Vetster, Inc., VitusVet, Whiskers Worldwide, LLC, Virtuwoof, Llc, Firstvet, Pawsquad and Vettriage.
Key Developments:
In July 2022, PetDesk announced a new strategic partnership with Blue Heron Consulting (BHC), the nation's top veterinary consulting team, designed to aid the veterinary community in solving one of the industry's biggest problems — the commoditization of pet care.
In March 2021, IVS Evidensia acquired PawSquad, a veterinary telemedicine company. The acquisition aimed to make high quality veterinary care more accessible to pet owners, lowering the barriers to engagement with the veterinary profession. Thus, improving the quality and expanding the growth of the company.
In June 2020, PetDesk, the leading provider of veterinary client communications software and CareCredit, a leading promotional financing solution for pet care have partnered to provide the first mobile pet health app with integrated financing options.
Types Covered:
• Telephone
• Online
• Other Types
Animal Types Covered:
• Companion Animal
• Livestock Animal
• Other Animal Types
Services Covered:
• Tele-Consulting
• Tele-Monitoring
• Tele-Education/Training
• Other Services
Applications Covered:
• Magnetic Resonance Imaging (MRI) Reporting
• Radiographic Reporting
• Computed Tomography Reporting
• X-Ray & Picture Archiving and Communication System (PACS) Advice
• Other Applications
End Users Covered:
• Veterinary Hospitals
• Pet Owners
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Veterinary Telemedicine Market, By Type
5.1 Introduction
5.2 Telephone
5.3 Online
5.4 Other Types
6 Global Veterinary Telemedicine Market, By Animal Type
6.1 Introduction
6.2 Companion Animal
6.2.1 Cats
6.2.2 Horses
6.2.3 Dogs
6.3 Livestock Animal
6.3.1 Swine
6.3.2 Cattle
6.3.3 Sheep
6.4 Other Animal Types
7 Global Veterinary Telemedicine Market, By Service
7.1 Introduction
7.2 Tele-Consulting
7.3 Tele-Monitoring
7.4 Tele-Education/Training
7.5 Other Services
8 Global Veterinary Telemedicine Market, By Application
8.1 Introduction
8.2 Magnetic Resonance Imaging (MRI) Reporting
8.3 Radiographic Reporting
8.4 Computed Tomography Reporting
8.5 X-Ray & Picture Archiving and Communication System (PACS) Advice
8.6 Other Applications
9 Global Veterinary Telemedicine Market, By End User
9.1 Introduction
9.2 Veterinary Hospitals
9.3 Pet Owners
9.4 Other End Users
10 Global Veterinary Telemedicine Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Activ4Pets
12.2 Airvet
12.3 BabelBark, Inc.
12.4 GuardianVets
12.5 PetDesk
12.6 Petzam
12.7 TeleTails
12.8 Televet
12.9 Vetster, Inc.
12.10 VitusVet
12.11 Whiskers Worldwide, LLC
12.12 Virtuwoof, Llc
12.13 Firstvet
12.14 Pawsquad
12.15 Vettriage
List of Tables
1 Global Veterinary Telemedicine Market Outlook, By Region (2021-2030) ($MN)
2 Global Veterinary Telemedicine Market Outlook, By Type (2021-2030) ($MN)
3 Global Veterinary Telemedicine Market Outlook, By Telephone (2021-2030) ($MN)
4 Global Veterinary Telemedicine Market Outlook, By Online (2021-2030) ($MN)
5 Global Veterinary Telemedicine Market Outlook, By Other Types (2021-2030) ($MN)
6 Global Veterinary Telemedicine Market Outlook, By Animal Type (2021-2030) ($MN)
7 Global Veterinary Telemedicine Market Outlook, By Companion Animal (2021-2030) ($MN)
8 Global Veterinary Telemedicine Market Outlook, By Cats (2021-2030) ($MN)
9 Global Veterinary Telemedicine Market Outlook, By Horses (2021-2030) ($MN)
10 Global Veterinary Telemedicine Market Outlook, By Dogs (2021-2030) ($MN)
11 Global Veterinary Telemedicine Market Outlook, By Livestock Animal (2021-2030) ($MN)
12 Global Veterinary Telemedicine Market Outlook, By Swine (2021-2030) ($MN)
13 Global Veterinary Telemedicine Market Outlook, By Cattle (2021-2030) ($MN)
14 Global Veterinary Telemedicine Market Outlook, By Sheep (2021-2030) ($MN)
15 Global Veterinary Telemedicine Market Outlook, By Other Animal Types (2021-2030) ($MN)
16 Global Veterinary Telemedicine Market Outlook, By Service (2021-2030) ($MN)
17 Global Veterinary Telemedicine Market Outlook, By Tele-Consulting (2021-2030) ($MN)
18 Global Veterinary Telemedicine Market Outlook, By Tele-Monitoring (2021-2030) ($MN)
19 Global Veterinary Telemedicine Market Outlook, By Tele-Education/Training (2021-2030) ($MN)
20 Global Veterinary Telemedicine Market Outlook, By Other Services (2021-2030) ($MN)
21 Global Veterinary Telemedicine Market Outlook, By Application (2021-2030) ($MN)
22 Global Veterinary Telemedicine Market Outlook, By Magnetic Resonance Imaging (MRI) Reporting (2021-2030) ($MN)
23 Global Veterinary Telemedicine Market Outlook, By Radiographic Reporting (2021-2030) ($MN)
24 Global Veterinary Telemedicine Market Outlook, By Computed Tomography Reporting (2021-2030) ($MN)
25 Global Veterinary Telemedicine Market Outlook, By X-Ray & Picture Archiving and Communication System (PACS) Advice (2021-2030) ($MN)
26 Global Veterinary Telemedicine Market Outlook, By Other Applications (2021-2030) ($MN)
27 Global Veterinary Telemedicine Market Outlook, By End User (2021-2030) ($MN)
28 Global Veterinary Telemedicine Market Outlook, By Veterinary Hospitals (2021-2030) ($MN)
29 Global Veterinary Telemedicine Market Outlook, By Pet Owners (2021-2030) ($MN)
30 Global Veterinary Telemedicine Market Outlook, By Other End Users (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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