Veterinary Telehealth Market Size Worth $417.1 Million By 2028: Grand View Research, Inc.

SAN FRANCISCO, Feb. 24, 2021 /PRNewswire/ -- The global veterinary telehealth market size is expected to reach USD 417.1 million by 2028 according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 19.5% from 2021 to 2028. An increase in the adoption of telehealth services among pet owners coupled with the rising prevalence of animal diseases are the key contributors to market growth.

Key suggestions from the report:

• The other animal segment dominated the market with a revenue share of 27.5% in 2020 and is projected to show a CAGR of over 18.0% from 2021 to 2028. High consumption of poultry and cattle products on a daily basis is contributing to the growth of this segment
• The teleconsulting segment dominated the market with a revenue share of 19.6% in 2020 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 2020 with a revenue share of around 37.2%
• 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 October 2019, BabelBark partnered with the Independent Veterinary Practice Association (IVPA), an organization representing the interests of privately owned hospitals in North America. This would allow the company to reach a large customer base of 390 members in 42 states and the local population in their areas

Read 115 page research report with ToC on "Veterinary Telehealth Market Size, Share & Trends Analysis Report By Animal Type (Canine, Feline, Equine, Bovine), By Service Type (Telemedicine, Teleconsulting, Telemonitoring), By Region, And Segment Forecasts, 2021 - 2028" at: https://www.grandviewresearch.com/industry-analysis/veterinary-telehealth-market

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 growth of the market.

Grand View Research has segmented the global veterinary telehealth market on the basis of animal type, service type, and region:

• Veterinary Telehealth Animal Type Outlook (Revenue, USD Million, 2016 - 2028)
• Canine
• Feline
• Equine
• Bovine
• Swine
• Others
• Veterinary Telehealth Service Type Outlook (Revenue, USD Million, 2016 - 2028)
• Telemedicine
• Teleconsulting
• Telemonitoring
• Others
• Veterinary Telehealth Regional Outlook (Revenue, USD Million, 2016 - 2028)
• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Asia Pacific
• Japan
• China
• India
• Australia
• Latin America
• Brazil
• Mexico
• Argentina
• Middle East and Africa (MEA)
• Saudi Arabia
• South Africa

List of Key Players of Veterinary Telehealth Market

• Airvet
• Activ4Pets
• BabelBark, Inc.
• GuardianVets
• PetDesk
• Petzam
• TeleTails
• Televet
• Vetster, Inc.
• VitusVet
• Whiskers Worldwide, LLC
• Virtuwoof, LLC
• FirstVet
• PawSquad
• Petriage Inc.

Find more research reports on  Animal Health Industry by Grand View Research:

• Animal Health Market ? The global animal health market size was valued at USD 48.8 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 5.9% during the forecast period.
• Companion Animal Health Market ? The global companion animal health market size was valued at USD 15.91 billion in 2018 and is expected to witness a CAGR of 6.1% over the forecast period.
• Telemedicine Market ? The global telemedicine market size was estimated at USD 41.4 billion in 2019 and is expected to witness a CAGR of 15.1% during the forecast period.

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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