Veterinary Telemedicine Market

Veterinary Telemedicine Market Size

Veterinary Telemedicine Market size was around USD 134.3 million in 2022 and is expected to reach USD 753.1 million by 2032 with a CAGR of 18.3%. Major growth factors for the market are increasing pet ownership, rising prevalence of diseases in animals, growing pet spending, and ongoing advancements in telecommunication technology. The increasing prevalence of diseases in animals has emerged as a significant driver for the growth of the market.

For instance, according to American Veterinary Medical Association (AVMA), diabetes mellitus is a common chronic disease affecting both cats and dogs globally. Similarly, according to International Renal Interest Society (IRIS), chronic kidney disease is estimated occur up to 30% in cats and 10% in dogs in the recent years. Thus, telemedicine provides timely and efficient access to veterinary care, overcoming geographical barriers in remote or underserved areas, where access to traditional veterinary services may be limited.

Veterinary telemedicine utilizes technology and digital communication tools to provide remote animal healthcare services. This practice allows veterinarians to offer consultations, diagnosis, treatment recommendations, and ongoing monitoring without the need for physical presence. It encompasses a range of virtual services, including video calls, phone consultations, online messaging, and the electronic transfer of medical records and images.

COVID-19 Impact

The global COVID-19 pandemic has significantly accelerated the adoption and growth of veterinary telemedicine. The pandemic saw a surge in pet adoptions, as people sought companionship during lockdowns. This rise in pet ownership increased the demand for veterinary services. Pet owners became more accustomed to the convenience and safety of virtual consultations. The ability to consult with veterinarians from the comfort of their homes reduced the risk of exposure to the virus for both pet owners and veterinary professionals.

Additionally, in response to the limitations on in-person veterinary visits, pet owners turned to telemedicine as a safe and convenient alternative. This shift in behaviour has played a pivotal role in boosting the market during the pandemic.

Veterinary Telemedicine Market Trends

• The increasing pet ownership play a pivotal role in driving the market. For instance, in 2023, according to Forbes Advisor, 66% of U.S. households (86.9 million homes) own a pet. This surge in pet ownership has created a corresponding demand for veterinary services, and veterinary telemedicine has positioned itself as a crucial solution to meet these evolving needs.
  
• Furthermore, the convenience of virtual consultations, coupled with the ability to access expert veterinary advice from the comfort of one's home, resonates with the preferences of a new generation of pet owners. As pets become indispensable members of households globally, the demand for accessible, convenient, and technologically advanced veterinary services is set to further fuel the market expansion.
  

However, the limitation of a physical examination poses a significant challenge and potential pitfall for the market. Traditional veterinary care involves hands-on examinations, palpation, and direct observation, which are essential for accurate diagnosis and treatment planning.

• In the absence of a physical presence, veterinarians may encounter difficulties in assessing certain health aspects, such as the feel of tissues, detecting subtle changes in posture, or identifying specific physical abnormalities. This limitation is particularly critical in cases where a comprehensive examination is crucial for a definitive diagnosis or when immediate intervention is required.
  

Veterinary Telemedicine Market Analysis

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Based on type, the market is bifurcated into telephone and online. The online segment held the largest business share at 66.3% in 2022. Online veterinary telemedicine platforms offer unparalleled convenience for pet owners and contributes to a broader market presence.

• With the ability to access veterinary consultations from the comfort of their homes, pet owners are more likely to seek timely advice and care for their animals. The ease of scheduling online appointments and avoiding the need for physical travel to a veterinary clinic contributes significantly to the popularity of online services.
  
• Online platforms provide a broader reach, allowing pet owners to connect with veterinary professionals irrespective of geographical barriers. This is particularly advantageous in rural or underserved areas where access to in-person veterinary care may be limited. The online segment facilitates global access to expert veterinary advice, contributing to its widespread adoption.

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Based on service, the veterinary telemedicine market is classified into tele-consulting, tele-monitoring, tele-education/training, and other services. The tele-consulting segment dominated the market with USD 55.9 million in 2022.

• The dominance in the market can be attributed due to its various advantages such as convenient consultations, remote monitoring for ongoing care, accessibility, and global reach in both urban and rural areas, and quality of care for animal.
  
• The tele-consulting segment often involves the use of digital technologies that enable remote monitoring of a pet's health. This can include video consultations, digital images, and other data shared between the pet owner and the veterinarian. Continuous monitoring can lead to early detection of health issues, contributing to better overall pet health.
  

Based on application, the veterinary telemedicine market is classified into diagnosis & treatment, prescription, follow-ups, consultation, education, and other applications. The diagnosis & treatment segment held the largest market revenue of USD 30.5 million in 2022.

• The use of digital imaging technologies, such as telepathology and tele-radiology, allows veterinarians to remotely analyze images of animals, facilitating the diagnosis of various conditions. This is particularly valuable for conditions that can be identified through visual inspection, such as skin issues or certain types of injuries.
  
• Telemedicine allows veterinarians to discuss treatment plans with pet owners remotely and provide follow-up consultations. This can enhance communication between veterinarians and pet owners, leading to better adherence to treatment plans and improved outcomes.
  

Based on animal type, the veterinary telemedicine market is divided into companion animal and livestock animal. The companion animal segment is expected to dominate the market with USD 437.2 million by 2032.

• The dominance is attributed to increasing ownership of companion animals. The urbanization trends and changing lifestyles have led to increased pet ownership in urban areas which is significantly higher compared to livestock animals.
  
• Further, companion animals, such as dogs and cats are often considered as integral members of the family. Pet owners are increasingly focused on preventive care and overall wellness for their animal companions, driving the demand for veterinary telemedicine services that support these aspects of care.

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In 2022, North America held a significant share of 35.6% in the global veterinary telemedicine market.

• North America boasts advanced technological infrastructure, including widespread access to high-speed internet and mobile connectivity. This robust technological foundation facilitates seamless communication and the widespread adoption of veterinary telemedicine.
  
• Moreover, the region has a substantial pet-owning population, with a high prevalence of companion animals such as dogs and cats. The cultural significance of pets in many North American households contributes to a greater demand for convenient and accessible veterinary care, making telemedicine an attractive option.
  

Veterinary Telemedicine Market Share

The veterinary telemedicine industry is characterized by diverse players competing in the industry. Airvet, GuardianVets, and PawSquad account for significant market share. These prominent players thrive through a combination of strategic initiatives, investing in research and development, meeting the specific needs of veterinary patients, geographical expansion, strategic approaches, and regulatory compliance.

Foremost players operating in the veterinary telemedicine industry is as mentioned below:

• Airvet
• GuardianVets
• PawSquad
• Activ4Pets
• FirstVet
• Babelbark,inc
• TeleTails
• VitusVet
• Whiskers Worldwide, LLC
• Vetchat
  

Veterinary Telemedicine Industry News:

• In November 2023, Airvet has secured USD 18.2 million in Series B funding led by Mountain Group Partners, with participation from a group of strategic investors, to expand its services to enterprise and employer clients. This will help in the overall expansion of the virtual telemedicine service, thereby increasing the growth of the company.
  
• In March 2021, IVS Evidensia acquired PawSquad, a veterinary telemedicine company. The acquisition aimed to make high quality veterinary care more accessible to pet owners, lowering the barriers to engagement with the veterinary profession. Thus, improving the quality and expanding the growth of the company.
  

The global veterinary telemedicine market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2032 for the following segments:

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By Type, 2018 – 2032 (USD Million)

• Telephone
• Online

By Service, 2018 – 2032 (USD Million)

• Tele-consulting
• Tele-monitoring
• Tele-education/training
• Other services

By Application, 2018 – 2032 (USD Million)

• Diagnosis & treatment
• Prescription
• Follow-ups
• Consultation
• Education
• Other applications

By Animal Type, 2018 – 2032 (USD Million)

• Companion animal   
  • Cats
  • Dogs
  • Horses
  • Other companion animals 
• Livestock animal      
  • Cattle
  • Swine
  • Sheep
  • Other livestock animals

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada 
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • Rest of Middle East & Africa