Veterinary Telehealth Market: Feline Segment Is Anticipated To Be The Fastest-Growing Segment With A Rate Of Over 17%

 Veterinary Telehealth Industry Overview

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 grow at a CAGR of 17.0% from 2023 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 


Veterinary Telehealth Market Segmentation

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


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

  • The other animal segment accounted for the largest revenue share of around 27.0% in 2022. The others segment comprises poultry, sheep and goats, etc. High consumption of poultry and cattle products on a daily basis is a major factor contributing to the growth of this segment. Sheep are also required for other commodities such as wool.
  • The feline segment is anticipated to be the fastest-growing segment with a rate of over 17% over the forecast period. The dominant share captured by the segment is a consequence of increasing animal healthcare spending, specifically in developed nations. As per the statistics released by the American Pet Product Association, it was found that 44,100millions were spent on pet food and treats, whereas 32,300 was on veterinary care and product sale in 2021.

 


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

  • The teleconsulting segment held the majority of the revenue share of 28% in 2022. The segment growth is attributed to the rising usage among veterinarians to seek consultation from the veterinary specialist via telehealth tools to gain advice & insights regarding the care of the animal. Further, teleconsultation saves transportation costs and reduces ancillary expenses.
  • Telemedicine is anticipated to be the fastest-growing segment with a CAGR of about 17% over the forecast period due to the increased internet penetration. The upsurge in the number of internet users has led to an increase in the usage of animal telehealth. The increasing initiatives by market players is anticipated to fuel the telemedicine segment market growth. 

 

Key Companies & 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, Inc.
  • GuardianVets
  • PetDesk, Petzam
  • TeleTails
  • Televet
  • Vetster, Inc.
  • VitusVet
  • Whiskers Worldwide, LLC
  • Virtuwoof, LLC
  • FirstVet
  • PawSquad
  • Petriage Inc.

 

Order a free sample PDF of the 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.

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