Veterinary Telemedicine Market by Type (Telephone, Internet), Component (Software & Services, Hardware), Application (Diagnosis & Treatment, Prescription, Follow-up, Consultation, Education), Animal Type (Companion, Livestock) & Region - Global Forecast t

Veterinary Telemedicine Market by Type (Telephone, Internet), Component (Software & Services, Hardware), Application (Diagnosis & Treatment, Prescription, Follow-up, Consultation, Education), Animal Type (Companion, Livestock) & Region - Global Forecast to 2028

The global veterinary telemedicine market is projected to reach USD 1,230 million by 2028 from USD 530 million in 2023, at a CAGR of 18.3%. Growth in this market is largely driven by the increase in pet healthcare spending. Veterinary telemedicine has emerged as a convenient and cost-effective solution for pet owners seeking accessible and efficient healthcare options. By leveraging telecommunication technologies, pet owners can connect with veterinarians remotely, reducing the need for physical visits while still receiving expert guidance. This telemedicine approach offers convenience, saves time, and allows for timely interventions and ongoing monitoring of chronic conditions. As pet owners continue to prioritize their pets' health and seek convenient healthcare solutions, the demand for veterinary telemedicine is expected to grow, further driving the overall expenditure on pet care.

“The diagnosis and treatment segment holds the major share of the veterinary telemedicine market”

In 2022, the diagnosis and treatment segment holds the major share of the veterinary telemedicine market. A large share of the diagnosis and treatment segment can be attributed to the increased access to care, increasing adoption of telemedicine by veterinarians and reducing travel time and costs. The diagnosis and treatment segment in the veterinary telemedicine market is expected to continue to grow in the coming years. As the technology continues to improve and more veterinarians become comfortable using telemedicine, it is likely that this segment will become even more popular.

“The companion animals segment holds the major share of the veterinary telemedicine market”

The companion animals segment holds the major share of the veterinary telemedicine market. A large share of the companion animals’ segment can be attributed to the increase in the small companion animal population, growing pet care expenditure, the growing demand for pet insurance, and technological advancements in veterinary telemedicine devices/services for small companion animals. Telemedicine allows pet owners to connect with licensed veterinarians remotely through various communication channels, including video calls, phone calls, and online messaging platforms. It enables pet owners to seek advice, get prescriptions, and even receive follow-up care without the need for in-person visits.

“Asia Pacific will grow at highest CAGR during the forecast period”

In 2022, Asia Pacific will grow at highest CAGR during the forecast period. The high growth in this market can majorly be attributed to the rising companion animal population and the expansion of key players in the veterinary telemedicine market in several Asia Pacific countries such as India, China, and Thailand. The growing trend of pet ownership in APAC countries has resulted in increased pet healthcare expenditures. This can also be attributed to the growing disposable income levels in APAC countries, due to which the willingness to spend on animal healthcare and well-being is rising.

The break-up of the profile of primary participants in the veterinary telemedicine market (Supply Side):

By Company Type: Tier 1 – 34%, Tier 2 – 38%, and Tier 3 – 28%

By Designation: C Level – 26%, Director Level – 35%, Others-39%

By Region: North America – 17%, Europe – 39%, Asia Pacific – 28%, Middle East – 8%, and Latin America – 8%

The break-up of the profile of primary participants in the veterinary telemedicine market (Demand Side):

By End User: Veterinary Hospitals- 55%, Veterinary Clinics- 32%, Others-13%

By Designation: Doctors-35%, Hospital Directors & Managers-27%, Critical Care Specialist-22%, Others-16%

By Region: North America-17%, Europe-39%, Asia Pacific-28%, Latin America-8%, Middle East & Africa-8%

The prominent players in the veterinary telemedicine market include Vettriage (US), JustAnswer (US), Airvet (US), PetDesk (US), Pawsquad (UK), FirstVet (Sweden), Vetster (Canada), TeleVet (US), Anipanion (US), VitusVet (US), Whiskers Worldwide (US), WellHaven Pet Health (Canada), AskVet (US), Petriage (US), BI X GmbH (Germany), GuardianVets (US), TeleTails (US), Activ4Pets (US), BabelBark (US), Linkyvet (France), VetChat (Australia), VetCT (US), VetoClock (Spain), VetNow (US), Vetsource (US).

Research Coverage:

The report analyzes the veterinary telemedicine market and aims at estimating the market size and future growth potential of this market based on various segments such as type, component, application, animal type and region. The report also includes a product/service portfolio matrix of various veterinary telemedicine services available in the market. The report also provides a competitive analysis of the key players in this market, along with their company profiles, product/service offerings, and key market strategies.

Reasons to Buy the Report

The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall veterinary telemedicine market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

This report provides insights into the following pointers:

Analysis of key drivers (increasing pet ownership, increasing prevalence of chronic diseases in animals, rising adoption of iot and ai by pet owners, increase in pet healthcare spending) restraints (high costs associated with the services, lack of awareness and accessibility to services), opportunities (the advancement of technology, increased access to specialists), and challenges (lack of reimbursement, acceptance by veterinarians) influencing the growth of the veterinary telemedicine market

Product/Service Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product/service launches in the veterinary telemedicine market

Market Development: Comprehensive information on the lucrative emerging markets by type, component, application, animal type and region.

Market Diversification: Exhaustive information about new products/services or product/service enhancements, growing geographies, recent developments, and investments in the global veterinary telemedicine market.

Competitive Assessment: In-depth assessment of market shares, growth strategies, product/service offerings, competitive leadership mapping, and capabilities of leading players like Vettriage (US), JustAnswer (US), Airvet (US), PetDesk (US), Pawsquad (UK) in the global veterinary telemedicine market.