Global Veterinary Telehealth Industry to 2026 – Rising Number of Global Pet Owners Drives Growth – ResearchAndMarkets.com | Company
DUBLIN – (BUSINESS WIRE) – August 6, 2021–
The report “Veterinary Telehealth Market – Growth, Trends, COVID-19 Impact and Forecast (2021 – 2026)” has been added to the offering of ResearchAndMarkets.com.
The veterinary telehealth market is expected to register a CAGR of over 19% during the forecast period.
- First veterinarian
- Whiskers Worldwide, LLC
- Virtuwoof, LLC
- Pétriage Inc.
- Animan Technologies Inc.
Key market trends
Telemedicine Segment Expected to Experience Significant Growth During the Forecast Period
The telemedicine segment is expected to experience significant growth due to increased internet penetration. Telemedicine is a technology that allows a veterinarian to scan X-ray, ultrasound and microscopic images and send them by fax or Internet to a specialist veterinarian for interpretation service without leaving their veterinary hospital. The increase in the number of Internet users is leading to a wider adoption of veterinary telemedicine services. Several market players are also engaged in the launch of veterinary telemedicine service platforms.
For example, in December 2020, Whiskers Worldwide, LLC, one of the largest providers of pet telehealth in North America, announced plans to launch its proprietary telemedicine service for pet owners in the United States. United in January 2021. Additionally, in July 2020, Zoetis UK announced that it has partnered with telemedicine companies such as Vet-AI and Video With My Vet. The telemedicine platforms follow the developing telemedicine guidelines for the UK and will allow vets to derive information with the existing client on their smartphones via virtual consultations. So, considering the aforementioned service launches, the segment is expected to grow significantly during the forecast period.
North America Expected to See Significant Growth in Global Veterinary Telehealth Market
In North America, the United States holds the bulk of the market and is expected to dominate during the forecast period. This can be attributed to factors such as high healthcare spending, strong presence of major market players, technological advancements and an increase in disposable income. Additionally, the preference for pet adoption due to the need for companionship and lifestyle in the region has prompted Americans to opt for pet insurance, thus fueling the uptake of pet insurance. veterinary telehealth.
According to the North American Pet Health Insurance Association (NAPHIA), the United States recorded gross written premiums of $ 1.99 billion in 2020, an increase of 27.5% from $ 1.56 billion in 2019. In addition, the increased consumption of livestock products contributes to the high demand for veterinary care in the region, thus further fueling the demand for veterinary telehealth services. For example, according to the United States Department of Agriculture, National Agricultural Statistics Service, 2021, the number of cattle and calves in the United States is approximately 93 million. So, considering the above-mentioned factors, the North America veterinary telehealth market is expected to grow significantly during the forecast period.
Main topics covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market overview
4.2 Market drivers
4.2.1 Increase the number of pet owners worldwide
4.2.2 Increased Pet Health Expenses
4.2.3 Growing prevalence of zoonotic diseases
4.3 Market restrictions
4.3.1 High cost associated with services
4.3.2 Lack of awareness and accessibility of telehealth services in developing countries
4.4 Porter’s five forces analysis
5 MARKET SEGMENTATION
5.1 Type of animal
5.2 Type of services
6 COMPETITIVE LANDSCAPE
6.1 Company profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information on this report, visit https://www.researchandmarkets.com/r/292g8
See the source version on businesswire.com: https://www.businesswire.com/news/home/20210806005376/en/
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INDUSTRY KEYWORD: VETERINARY HEALTH
SOURCE: Research and markets
Copyright Business Wire 2021.
PUB: 06.08.2021 10:31 / DISC: 06.08.2021 10:32
Copyright Business Wire 2021.