Veterinary Telehealth Market Size, Share & Trends Analysis Report By Type, By Animal Type (Canine, Feline, Equine, Bovine, Swine), By Delivery Mode, By End-use, By Region, And Segment Forecasts, 2024 - 2030

Veterinary Telehealth Market Size, Share & Trends Analysis Report By Type, By Animal Type (Canine, Feline, Equine, Bovine, Swine), By Delivery Mode, By End-use, By Region, And Segment Forecasts, 2024 - 2030

Veterinary Telehealth Market Growth & Trends

The global veterinary telehealth market size is expected to reach USD 732.63 million by 2030, registering a CAGR of 19.46% during the forecast period, according to a new report by Grand View Research, Inc. 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 Report Highlights

• In 2023, canine segment held the highest market share, due to rising costs for veterinary care, particularly in wealthy nations.
• The teleconsultations segment dominated the market with a revenue share of 36.48% in 2023 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 2023 with a revenue share of around 41.63%
• 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.

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