North America And Europe Veterinary Telehealth Market Is Expected To Expand At A CAGR Of 19.0% From 2021 To 2028

 North America And Europe Veterinary Telehealth Industry Overview

The North America and Europe veterinary telehealth market size is anticipated to reach USD 279.0 million by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 19.0% from 2021 to 2028. The market is primarily driven by the increasing number of pets. For instance, in 2019 about 67.0% of American households (or 84.9 million American homes) owned a pet, as per data released by the American Pet Products Association (APPA). Compared to the 2017 data wherein about 60.2 million American households owned at least one pet dog, the 2019 data was significantly greater, showing an upward trend in the pet population. Rising humanization of pets and pet expenditure are other factors expected to drive the market growth. An increase in the number of veterinary hospitals and pet care clinics is also expected to contribute to market growth.

 

The COVID-19 pandemic had an intense effect on the veterinary care market. According to the CEO of Animal Policy Group, the adoption of pets increased along with the adoption of veterinary telehealth in order to follow social distancing norms. Deb Leon, CEO of WhiskerDocs, stated that their business experienced a 30% surge during the COVID-19 pandemic.

 

Additionally, in response to the pandemic, the USFDA relaxed its Federal VCPR requirements, temporarily. This allowed veterinarians to practice telemedicine without an on-premises animal examination or a pre-existing veterinarian-client relationship. Given the temporary nature of this policy, the FDA plans to reassess it periodically to either revise or withdraw the guidelines, as necessary. However, this catalyzed the adoption of veterinary telehealth. Governments of various states across the U.S. also recognized the impact, and many of them added veterinary care to the list of essential services covered by telehealth under emergency measures. Even post-COVID, the trend of increased usage of these solutions is expected to continue.

The demand for livestock products is growing in developing and developed economies. This has led to greater concern over the health of livestock. According to the United States Department of Agriculture, National Agricultural Statistics Service, as of January 2021, the number of cattle and calves in the U.S. was 93 million and that of beef cows was 31.0 million, respectively. Monitoring livestock health is important in order to secure the food supply. Telemonitoring solutions are increasingly adopted to monitor livestock farms to keep track of herd health in real-time and to gain actionable insights.

 

North America And Europe Veterinary Telehealth Market Segmentation

Grand View Research has segmented the North America and Europe veterinary telehealth market on the basis of animal type, service type, and region:

Based on the Animal Type Insights, the market is segmented into Canine, Feline, Equine, Bovine, Swine, and Others.

  • The others segment dominated the market for veterinary telehealth in North America and Europe and accounted for the largest revenue share of 29.0% in 2020. This is owing to market players launching new services to capture a larger share of the market along with supportive regulations. 
  • The feline segment is anticipated to register the highest CAGR over the forecast period owing to the rising preference for cats as pets and the humanization of pets. In Germany, for example, cats are more popular as pets as per the 2019 findings of the Accapi Group.


Based on the Service Type Insights, the market is segmented into Telemedicine, Teleconsulting, Telemonitoring, and Others.

  • The teleconsulting segment dominated the market for veterinary telehealth in North America and Europe and accounted for the largest revenue share of 30.0% in 2020. Teleconsulting services are increasingly used by veterinarians to seek advice from veterinary experts via telehealth tools.

 

  • The telemedicine segment, on the other hand, is anticipated to witness the fastest growth rate from 2021 to 2028. This growth can be attributed to growing pet health concerns resulting in increased vet visits and the number of insured pets in the region. 

 

Key Companies & Market Share Insights

North America and Europe veterinary telehealth market is competitive in nature and prominent industry players are undertaking strategies, such as increasing their customer base, distribution network, partnerships, and improving product features, among other initiatives. For instance, in March 2021, PetsApp launched PetsApp Widget and PetsApp Web to onboard more clients and to enable users to experience the app features on their desktop computers, respectively. Some of the prominent players in the North America and Europe veterinary telehealth market include:

  • FirstVet
  • PawSquad
  • Vets Now
  • Petzam
  • Whiskers Worldwide, LLC
  • BabelBark, Inc.
  • Video With My Vet
  • Vet-AI Ltd
  • AmerisourceBergen Corporation
  • The Vet Connection
  • IDEXX Laboratories, Inc.
  • Wizzvet
  • Barkibu
  • Barkyn, Lda
  • VetCT
  • Dindog Tech SL
  • PetsApp Ltd
  • Activ4Pets
  • Airvet, Inc.
  • GuardianVets

 

Order a free sample PDF of the North America And Europe Veterinary Telehealth Market Intelligence Study, published by Grand View Research.

 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

 

Contact:

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Corporate Sales Specialist, USA

Grand View Research, Inc.

Phone: 1-415-349-0058

Toll Free: 1-888-202-9519

Email: sales@grandviewresearch.com

Web: https://www.grandviewresearch.com

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