The global veterinary telehealth market size is expected to grow at a CAGR of 18.5% over the forecast period (2023-31).
Telehealth is an umbrella term encompassing technology to remotely deliver health care, health education, or health information. A few different categories can be used for telehealth, each determined by who participates in the conversation. Telemedicine is the practice of veterinary care (advice, diagnosis, and treatment) that occurs remotely between a veterinarian and an animal owner utilizing telecommunication. This type of veterinary medicine is also known as relevant.
In other words, telemedicine is a tool utilized in veterinary medicine that incorporates the electronic transfer of medical data about a patient's clinical health. Telemedicine is also known as e-health. Instead of replacing traditional veterinary medical practice, telemedicine is an adjunct to it. A true veterinary-client-patient relationship (VCPR) must already exist between the patient and the client before a veterinarian can diagnose and treat a patient using telemedicine. In addition, it is necessary to follow all other legal requirements, such as obtaining informed consent.
Increasing Number of Zoonotic and Chronic Diseases
The prevalence of livestock and zoonotic illnesses is increasing due to the negative effects of climatic change and quickening globalization. The veterinary telehealth industry is anticipated to be driven by government initiatives that mandate secure medical procedures for livestock animals. Preventing zoonotic illnesses in humans and animals is a priority for many governments worldwide. Additionally, initiatives are being made to help animal producers spread the word about animal diseases and their identification and treatment. Ticks, mosquitoes, and fleas can transmit zoonotic illnesses and contact other affected animals. The culprits are typically ticks that carry the bacterium that causes Lyme disease. The need for veterinary telemedicine is anticipated to increase because these infections can result in illnesses like rabies and Lyme disease.
Furthermore, the WHO is engaged in several activities to address health hazards at the animal-human-ecosystem interface, such as foodborne zoonoses, food safety, and antibiotic resistance. The WHO carries out these initiatives both internationally and at the national and regional levels. To take significant steps toward disease management, the WHO started working with the World Organization for Animal Health (OIE), the Food and Agriculture Organization (FAO), national ministries of health, the World Bank, and UNSIC. The spread of zoonotic illnesses has the potential to negatively affect human life, which will probably increase demand for veterinary telemedicine.
Increasing Consumption of Animal-Derived Products
Demand for animal products such as milk, chicken, eggs, and meat motivates farmers to implement diagnosis and treatment options for their animals to increase their profits. As urbanization increases, consumers are becoming more conscious of the nutritional value of animal protein. Rapid growth can also be observed in demand for healthful, sustainable, and high-quality meat products that contain comparatively fewer or no drugs. Thus, the increasing demand for healthy animal reproduction is anticipated to fuel the global market.
Additionally, consumers are becoming aware of the significance of micronutrients, the natural sources of which are animal proteins. Vitamin D (ocean fish, cheese, and eggs) are among these micronutrients. Vitamin B12 is another micronutrient; its only natural source is animal proteins. Therefore, the high demand for these micronutrients is fueling market expansion by increasing the demand for animal meat. Technologies such as gene editing are also anticipated to allow producers to breed animals resistant to most chronic diseases, stimulating market growth.
Lack of Telehealth Adoption in Developing Regions
Developing countries from Asia Pacific, Latin America, and the Middle East and Africa are slow adopters of cost-effective and technologically advanced veterinary services. Large-scale telehealth structures, whether aimed at animal or human monitoring surroundings, share execution obstacles, such as interstate licensing, cost-effectiveness, biocompatibility, market momentum, ethical issues, diagnostic feasibility, usability, and confidentiality. In developing countries such as India, increased broadband connectivity is required to facilitate access to bandwidth-intensive telehealth applications, particularly in remote and rural communities. While the internet is an outstanding intermediate for transferring information amid remote workstations, it is susceptible to security problems. Hence, transferring information between computers away from unauthorized should be solved.
Furthermore, the state-level licensure laws that regulate interstate telehealth practice are not uniform. Moreover, there is a lack of confidence in patients or livestock owners regarding the outcome of e-medicine as no high-tech development can change anything when the end-users don’t want to change. One psychological barrier is the self-consciousness of being on camera or video may be of concern for some veterinarians, livestock owners, and para veterinarians. Such factors result in low adoption of telehealth adoption in developing regions.
Growth Strategies by Market Players
Several businesses focus on organic growth strategies, such as new product introductions, product approvals, and other methods, such as patents and events. The most prevalent inorganic growth strategy activities observed in the market were acquisitions, partnerships, and collaborations. In addition, expanding market actors' businesses and consumer bases has been made possible as a direct consequence of these actions. It is anticipated that industry participants in the global market will have lucrative growth prospects due to the rising demand in global markets.
| Study Period | 2020-2032 | CAGR | 18.5% |
| Historical Period | 2020-2022 | Forecast Period | 2024-2032 |
| Base Year | 2023 | Base Year Market Size | USD XX Billion |
| Forecast Year | 2032 | Forecast Year Market Size | USD XX Billion |
| Largest Market | North America | Fastest Growing Market | Asia-Pacific |
Based on region, the global veterinary telehealth market is bifurcated into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
North America is the most significant global veterinary telehealth market shareholder and is estimated to exhibit a CAGR of 19.0% over the forecast period. The region is anticipated to experience unprecedented growth due to several factors, including rising pet adoption, the prevalence of chronic diseases, and growing investments in pet insurance. Other factors include a well-developed healthcare infrastructure and significant market participants. According to the North American Pet Health Insurance Association (NAPHIA), the market for pet health insurance in North America has grown by 21%. In North America, the global market is dominated by the United States. A major aspect driving the market is the development of pet humanization, which involves treating animals with more care and cleanliness. In addition, the presence of important firms and substantial investment in animal health care expenditures are only two examples of the many elements contributing to the expansion. Technological advancements and increased disposable income are expected to drive the veterinary telehealth market over the forecast period.
Asia-Pacific is anticipated to exhibit a CAGR of 20.7% over the forecast period. Due to the increasing modernization of the healthcare infrastructure, the market for veterinary telehealth is anticipated to grow significantly during the forecast period. The market is growing because of the escalating expansion of manufacturing facilities in developing countries like China and India and the rising need for veterinary healthcare facilities. For instance, the government of the Indian state of Andhra Pradesh launched a telemedicine program for veterinary care. The region's relatively high livestock population is also stimulating the telemedicine sector. For instance, China and India are home to more than 30% of the world's cattle.
In Europe, the presence of key firms is the driving force behind this industry's growth. These rivals actively participate in several crucial initiatives that improve the market. In Germany, the telehealth industry for animals is expected to grow the fastest over the next few years. According to the German Kennel Club, the number of dogs purchased increased by around 20% compared to previous years. The market in the area is also predicted to be pushed by the region's established veterinary care facilities and expanding pet insurance usage.
Brazilian veterinarians could only use online consultations to guide and answer animal health, nutrition, and behavior inquiries. The new laws passed by the Federal Council of Veterinary Medicine (CFMV) make it possible for specialists to monitor the clinical status of animals, provide answers to queries posed by pet parents, or monitor animals' health following a survey or chronic disease. In addition, the veterinarian must have a preexisting relationship with the animal before beginning treatment. The service is only available after an in-person interview with the owner. Such factors drive market growth.
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The global market is bifurcated into animal type and service type.
Based on the animal type, the global market is bifurcated into canine, feline, and equine.
The canine segment dominates the global market and is projected to exhibit a CAGR of 20.1% over the forecast period. The dog segment accounts for a large portion of animal healthcare spending, particularly in developed regions. The increase in the adoption of telehealth is a consequence of growing consumer awareness about the availability and benefits of telehealth. In addition, the general concern of owners about the overall hygiene and health of their pets is also another factor contributing to market growth.
Additionally, the COVID-19 pandemic encouraged pet owners, healthcare providers, and even payers to adopt telehealth in veterinary care. For instance, in October 2020, online pet pharmacy Chewy Inc. brought telehealth to cats and dogs as the pandemic halted vet clinic visits. Public and private animal healthcare organizations consistently strive to promote awareness among customers about the available diagnostics, such as in-house analyzers, hematology, clinical chemistry analyzers, and rapid lateral flow tests. Dogs are known to lower blood pressure and improve cardiac health in patients, creating potential growth opportunities for greater adoption.
Based on service type, the global market is segmented into telemedicine, teleconsulting, telemonitoring, and others.
The teleconsulting segment owns the largest market share and is predicted to exhibit a CAGR of 19.6% during the forecast period. Animal veterinarians have used teleconsulting to get guidance and ideas on caring for animals from veterinary experts using telehealth systems. Teleconsultation thereby offers appropriate medical direction for sick animals, enhancing treatment. Teleconsultation also saves on traveling costs and lowers ancillary expenditures.
Additionally, professional guidance may be obtained immediately without losing time while waiting a long time. Reducing exposure and the danger of infection from clinic visits has led organizations involved in animal healthcare to offer substitute methods and solutions. Teleconsultation is, therefore, the best option for giving animals high-quality care virtually while preventing the spread of infection. As a result, these elements promote segment expansion.
