by The U.S. veterinary telehealth market size was estimated at around USD 49.54 billion in 2023 and it is projected to hit around USD 234.49 billion by 2033, growing at a CAGR of 16.82% from 2024 to 2033.
U.S. Veterinary Telehealth Market Growth
The expansion of the U.S. veterinary telehealth sector owes its growth to various key factors driving its advancement. Firstly, the increase in pet ownership nationwide has led to a greater demand for convenient and easily accessible veterinary care. Additionally, the rising awareness and acceptance of telehealth services among pet owners have also contributed to the market’s expansion. Technological progress, particularly in telecommunication technologies like video consultations and remote monitoring, has notably improved the effectiveness of veterinary telehealth solutions. Furthermore, the evolving regulatory landscape, adapting to the shifting dynamics of healthcare delivery, provides a supportive framework for industry development. These combined factors create favorable conditions for the U.S. Veterinary Telehealth Market, positioning it as an essential component of modern pet healthcare services.
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U.S. Veterinary Telehealth Market Trends:
Data Security and Privacy Concerns: With the increasing reliance on digital platforms, ensuring data security and addressing privacy concerns has emerged as a significant trend. Stakeholders in the veterinary telehealth sector are prioritizing robust security measures to protect sensitive pet health information, thereby fostering trust among both pet owners and clinicians.
Rise of Remote Monitoring Devices: The adoption of remote monitoring devices for pets is gaining traction within the telehealth market. These devices enable pet owners and veterinarians to remotely track vital health metrics, facilitating proactive healthcare management and early detection of potential issues.
Growing Emphasis on Training for Veterinary Professionals: Acknowledging the importance of seamless telehealth integration, there is a growing emphasis on comprehensive training for veterinary professionals. Ensuring that veterinarians are well-prepared to utilize telehealth tools and technologies contributes to the effective delivery of remote veterinary care services.
Service Type Insights
Teleconsulting has emerged as the dominant force in the market, capturing the largest revenue share of 30% in 2023. Veterinarians are increasingly utilizing telehealth tools for teleconsulting, connecting with veterinary experts to gain valuable advice and insights on animal care. This facilitates the delivery of timely and appropriate medical guidance for animals, ultimately improving their treatment outcomes. Moreover, teleconsultation plays a crucial role in reducing transportation and associated costs. The immediate access to expert advice eliminates lengthy waiting periods, enabling veterinarians to promptly address the healthcare needs of animals. These advantages significantly contribute to the growth of the teleconsulting segment.
Telemedicine is positioned to be the fastest-growing segment, projected to achieve a CAGR of 15.93% from 2024 to 2033, driven by the increasing penetration of the internet. The surge in internet users has led to a substantial rise in the adoption of telehealth services for animals. Additionally, the segment’s growth is bolstered by industry players’ initiatives, such as those undertaken by Guardian Vets. In April 2021, the company, a leading player in veterinary client communication technology and telemedicine, introduced three innovative services – Virtual CRS, Overflow Protection, and Callback Support. These services have effectively alleviated the workload on veterinary practices, contributing to the overall market expansion.
Animal Type Insights
The “Others” category has emerged as the market leader, holding the largest revenue market share of 29% in 2023. This diverse segment encompasses animals such as poultry, sheep, and goats. The significant consumption of poultry and cattle products on a daily basis plays a crucial role in driving the growth of this segment. Particularly, the global increase in pork production contributes significantly to this growth, as pork is widely consumed as a staple food. Sheep, besides their role in meat production, also contribute to wool production. The rising incidence of chronic diseases in sheep and goats is a major factor fueling the adoption of veterinary telehealth within this segment, promoting preventive measures and disease management strategies.
The Feline segment is poised to be the fastest-growing over the forecast period. This growth is attributed to the increasing expenditure on animal healthcare, particularly for felines. Common conditions such as chronic kidney disease, hyperthyroidism, endocrine diseases, and diabetes are driving the clinical urgency to adopt veterinary telehealth, serving as impactful drivers for segment growth. Corporations are strategically expanding their product portfolios for felines due to their heightened sensitivity to diseases compared to other companion animals.
Read More: https://www.heathcareinsights.com/medical-nitrile-gloves-market/
U.S. Veterinary Telehealth Market Key Companies
- Airvet
- Activ4Pets
- PetHub, Inc.
- VitusVet
- Televet
- GuardianVets
- Whiskers Worldwide, LLC
- Animan Technologies Inc.
- Chewy, Inc.
- Petzam
- BabelBark, Inc.
- TeleTails
Recent Developments
- In June 2020, AirVet, a U.S.-based startup, successfully secured a funding of USD 14 million from its investors. This financial boost is aimed at addressing the growing need for online care services. This will equip the company to effectively handle the surging demand for its telemedicine platform.
- In March 2020, BabelBark and WhiskerDocs collaborated to provide their services to pet owners for free for 60 days. BabelBark offered free use of its connected care platform, BabelVet, to veterinary practices across the U.S. & Canada.
U.S. Veterinary Telehealth Market Segmentations:
By Animal Type
- Canine
- Feline
- Equine
- Bovine
- Swine
- Others
By Service Type
- Telemedicine
- Teleconsulting
- Telemonitoring
- Others
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