Veterinary telemedicine market

Veterinary Telemedicine Market, by Type (By Telephone, By Internet, and Other), by Application (Radiographic Reporting, CT Reporting, X-Ray & PACS Advice, MRI Reporting, and Other), and by Region (North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2021 - 2028

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Oct 2021
CMI4712
185 Pages
Excel & Pdf
Healthcare IT

Summary

Telemedicine is the use of medical information such as patient's clinical health status, which is exchanged from one site to another via electronic communications. Telemedicine is a technology that allows a veterinarian to digitalize radiographic, ultrasound and microscopic images and send them via fax or the internet to a veterinary specialist for interpretation providing service without leaving their veterinary dispensary/hospital.

The global veterinary telemedicine market is estimated to be valued at US$ 31.2 million in 2021 and is expected to exhibit a CAGR of 17.3% during the forecast period (2021-2028).

Figure 1.Global Veterinary Telemedicine Market Share (%) in Terms of Value, By Type, 2021

Rise in pet healthcare spending is expected to drive the market growth during the forecast period.

The increasing in the pet healthcare spending is expected to drive the global veterinary telemedicine market growth over the forecast period. For instance, according to report by APPA - American Pet Products Association in 2018, the cumulative spending in the U.S. pet industry increased by 4.1 % from 2016 to 2017.

Veterinary Telemedicine Market Report Coverage

Report Coverage	Details
Base Year:	2020	Market Size in 2021:	US$ 31.2 Mn
Historical Data for:	2017 to 2020	Forecast Period:	2021 to 2028
Forecast Period 2021 to 2028 CAGR:	17.3%	2028 Value Projection:	US$ 95.2 Mn
Geographies covered:	North America: U.S. and Canada Latin America: Brazil, Argentina, Mexico, and Rest of Latin America Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific Middle East: GCC Countries, Israel, and Rest of Middle East Africa: South Africa, North Africa, and Central Africa
Segments covered:	By Type: By Telephone, By Internet, Other By Application: Radiographic Reporting, CT Reporting, X-Ray & PACS Advice, MRI Reporting, Other
Companies covered:	Agora.io, Anipanion, Linkyvet, Oncura Partners, TeleVet, Vetchat, VetCT., Vetoclock, WellHaven Pet Health, Petriage, PawSquad, and Petpro Connect
Growth Drivers:	Increasing prevalence of zoonotic and chronic diseases in animals Increasing pet ownership across the globe Rise in pet healthcare spending
Restraints & Challenges:	Lack of awareness and accessibility to telemedicine services

Figure 2.Global Veterinary Telemedicine Market Share (%), By Application, 2021

Increasing prevalence of zoonotic and chronic diseases in animals are expected to drive the market growth during the forecast period.

Increasing prevalence of zoonotic and chronic diseases in animals is expected to drive the global veterinary telemedicine market growth during the forecast period. For instance, according to an article published in Sage Journals in 2016, stated that chronic kidney disease (CKD) is the most common metabolic disease of domesticated cats. The overall prevalence of feline CKD in aged cats have ranged from 1% to 3% to 50%.

Global Veterinary Telemedicine Market– Impact of Coronavirus (COVID-19) Pandemic

The COVID-19 pandemic is positively influencing the veterinary telehealth market. The interest in veterinary telehealth is increasing during the ongoing crisis. For instance, as per a 2020 article by the Veterinary Medical Association (AVMA), the use of telemedicine has grown to protect and monitor the health of veterinary patients and veterinary teams. Additionally, the U.S. Food and Drug Administration (U.S. FDA) was providing flexibility across FDA-regulated industries and announced that it does not intend to enforce certain requirements that may enable veterinarians to better utilize telemedicine to address animal health needs during the pandemic. Moreover, several healthcare organizations launched telehealth services during the pandemic. For instance, in March 2021, a leading integrated healthcare company in India, Practo, announced the launch of a veterinary telemedicine service. Moreover, in 2020, the Centers for Disease Control and Prevention (CDC) recommended the veterinarians minimized their contact with pet owners using telemedicine in the pandemic. Thus, the factors mentioned above are leading to an increase in the number of veterinary telemedicine services during the ongoing pandemic.

Global Veterinary Telemedicine Market: Restraint

The major factors that hinder growth of the global veterinary telemedicine market include lack of awareness and accessibility to telemedicine services. Rural areas of emerging economies such as Africa and Asia Pacific have very low awareness regarding such novel technologies, which is expected to be a major reason leading to slow adoption of telemedicine systems in such regions, thereby hindering the market growth.

Key Players

Agora.io, Anipanion, Linkyvet, Oncura Partners, TeleVet, Vetchat, VetCT., Vetoclock, WellHaven Pet Health, Petriage, PawSquad, and Petpro Connect

Table of Content

*Browse 27 market data tables and 31 figures on "Veterinary Telemedicine Market” - Global forecast to 2028

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- Frequently Asked Questions -

What is the current market size and compound annual growth rate (CAGR) of the market during the forecast period (2021-2028)?

The global veterinary telemedicine market size is estimated to be valued at US$ 31.2 million in 2021 and is expected to exhibit a CAGR of 17.3% between 2021 and 2028

What are the major factors driving the market growth?

Factors such as increasing prevalence of zoonotic and chronic diseases in animals, increasing pet ownership across the globe and rise in pet healthcare spending are expected to drive the market growth during the forecast period.

Which is the leading type segment in the market?

Internet segment is expected to hold a major market share during the forecast period.

What are the key factors hampering growth of the market?

The major factors hampering growth of the market include lack of awareness and accessibility to telemedicine services.

Which are the major players operating in the market?

Major players operating in the market include Agora.io, Anipanion, Linkyvet, Oncura Partners, TeleVet, Vetchat, VetCT., Vetoclock, WellHaven Pet Health, Petriage, PawSquad, and Petpro Connect.