Veterinary Telehealth Market Size Growth USD546.8 Million By 2030

 The global veterinary telehealth market size is expected to reach USD 546.8 million by 2030 according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 17.6% from 2022 to 2030. An increase in the adoption of telehealth services among pet owners coupled with the rising prevalence of animal diseases is a key contributor to market growth.

The key advantages of veterinary telehealth such as saving transportation costs and reduction of ancillary expenses are driving the growth of the market. In addition, the doctor’s advice and virtual care can be obtained on an immediate basis. Further, it also saves time as animal caretakers can skip the time consumed during long waiting hours. Such factors are boosting market growth.

There is increased adoption of IoT and AI by farmers and pet parents. This can be attributed to the increase in internet penetration and user-friendly animal healthcare websites or apps. Such factors are anticipated to increase the demand for veterinary telehealth over the forecast period. In addition, increasing cases of zoonotic diseases coupled with the concern of owners about their animal health is also propelling the market.

Upsurge in pet ownership globally is contributing to the rising adoption of telehealth services by pet owners.  Furthermore, according to Pet Food Manufacturers Association statistics in 2021, 3.2 million households adopted a pet in the U.K.since the onset of the COVID-19 pandemic. Moreover, pet owners are preferring telehealth services to veterinarians because of the pandemic situation, thereby increasing the adoption of veterinary telehealth services. Thus, rising pet ownership further contributes to the market globally.

Additionally, several healthcare Companies had launched telehealth solutions and services. For example, in March 2021, a leading integrated healthcare company in India, Practo, launched a veterinary telemedicine service. Moreover, in 2020, the Centers for Disease Control and Prevention recommended that veterinarians minimized their contact with pet owners using telemedicine during pandemic. Thus, these key factors contribute to an increase in the number of veterinary telehealth services during the ongoing pandemic  

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 Veterinary Telehealth Market Trends And Growth

• The other animal segment dominated the market with a revenue share of 27.16% in 2021. High consumption of poultry and cattle products on a daily basis is contributing to the growth of this segment
• The tele consulting segment dominated the market with a revenue share of 29.08% in 2021 owing to the increasing demand for virtual quality animal healthcare services
• Due to the presence of well-established market players and increasing research and development activities by these players, North America dominated the market as of 2021 with a revenue share of around 37.0%
• However, Asia Pacific is anticipated to show lucrative growth over the forecast period owing to the rising adoption of veterinary telehealth services and increasing livestock population in the region
• Industry players are involved in strategic initiatives such as acquisitions and mergers, collaborative agreements, and geographic expansion to gain an edge over the competition
• For instance, in April 2021, Guardian Vets, the industry leader in veterinary client communications technology, telemedicine and triage launched Virtual CRS, Overflow Protection and Callback Support, three innovative services. These services had reduced burdens on veterinary practices

Key Players And Veterinary Telehealth Market Share Insights

Industry players are involved in business activities such as strategic collaborations, new product launches, and regional expansion as emerging countries are still in the loop of adopting veterinary telehealth. For instance,  in August 2020, Televet partnered with Cornell University Hospital for Animals. With this, the company would deploy its telehealth platform for the University’s veterinary telehealth operations. This extended the company’s market growth. Additionally, in July 2020, Zoetis partnered with telemedicine companies such as Vet-AI and Video With My Vet. The telemedicine platforms follow telemedicine guidelines for the U.K. and allow veterinarians to acquire information from clients on their smartphones through virtual consultations, thereby driving the market. Some of the prominent players in the veterinary telehealth market include: Airvet, Activ4Pets, BabelBark, GuardianVets, PetDesk, TeleTails, Televet, Vetster, VitusVet, Whiskers Worldwide, Virtuwoof, FirstVet, PawSquad, Petriage Inc

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