Increasing Pet Ownership Drives Market Growth

Global Veterinary Telemedicine Market

Dublin, Nov. 13, 2023 (GLOBE NEWSWIRE) — The “Global Veterinary Telemedicine Market by Type, Component, Application, Animal Type & Region – Forecast to 2028” report has been added to ResearchAndMarkets.com’s providing.

The world veterinary telemedicine market is projected to achieve USD 1,230 million by 2028 from USD 530 million in 2023, at a CAGR of 18.3%.

Growth on this market is essentially pushed by the rise in pet healthcare spending. Veterinary telemedicine has emerged as a handy and cost-effective resolution for pet homeowners in search of accessible and environment friendly healthcare choices. By leveraging telecommunication applied sciences, pet homeowners can join with veterinarians remotely, lowering the necessity for bodily visits whereas nonetheless receiving knowledgeable steerage. This telemedicine method affords comfort, saves time, and permits for well timed interventions and ongoing monitoring of persistent situations. As pet homeowners proceed to prioritize their pets’ well being and search handy healthcare options, the demand for veterinary telemedicine is predicted to develop, additional driving the general expenditure on pet care.

The analysis and remedy phase holds the key share of the veterinary telemedicine market

In 2022, the analysis and remedy phase holds the key share of the veterinary telemedicine market. A big share of the analysis and remedy phase could be attributed to the elevated access to care, rising adoption of telemedicine by veterinarians and lowering journey time and prices. The analysis and remedy phase within the veterinary telemedicine market is predicted to proceed to develop within the coming years. As the know-how continues to enhance and extra veterinarians develop into comfy utilizing telemedicine, it’s possible that this phase will develop into much more widespread.

The companion animals phase holds the key share of the veterinary telemedicine market

The companion animals phase holds the key share of the veterinary telemedicine market. A big share of the companion animals’ phase could be attributed to the rise within the small companion animal inhabitants, rising pet care expenditure, the rising demand for pet insurance coverage, and technological developments in veterinary telemedicine units/companies for small companion animals. Telemedicine permits pet homeowners to attach with licensed veterinarians remotely by means of numerous communication channels, together with video calls, telephone calls, and on-line messaging platforms. It allows pet homeowners to hunt recommendation, get prescriptions, and even obtain follow-up care with out the necessity for in-person visits.

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Asia Pacific will develop at highest CAGR through the forecast interval

In 2022, Asia Pacific will develop at highest CAGR through the forecast interval. The excessive development on this market can majorly be attributed to the rising companion animal inhabitants and the growth of key gamers within the veterinary telemedicine market in a number of Asia Pacific international locations resembling India, China, and Thailand. The rising development of pet possession in APAC international locations has resulted in elevated pet healthcare expenditures. This may also be attributed to the rising disposable earnings ranges in APAC international locations, because of which the willingness to spend on animal healthcare and well-being is rising.

Company Profiles:

• Vettriage

• Justanswer

• Airvet

• Firstvet

• Vetster

• Televet

• Anipanion

• Vitusvet

• Whiskers Worldwide

• Wellhaven Pet Health

• Askvet

• Petriage

• Petdesk

• Pawsquad

• Bi X GmbH

• Guardianvets

• Teletails

• Activ4Pets

• Babelbark

• Linkyvet

• Vetchat

• Vetct

• Vetoclock

• Vetnow

• Vetsource

Key Topics Covered:

Executive Summary

• Veterinary Telemedicine Market, by Type, 2023 Vs. 2028 (USD Million)

• Market, by Component, 2023 Vs. 2028 (USD Million)

• Market, by Application, 2023 Vs. 2028 (USD Million)

• Market, by Animal Type, 2023 Vs. 2028 (USD Million)

• Geographical Snapshot of Veterinary Telemedicine Industry

Premium Insights

• Veterinary Telemedicine Market Overview – Increasing Pet Ownership to Drive Market

• Asia-Pacific: Market, by Type and Country (2022) – Internet Segment Held Largest Share of Asia-Pacific Market in 2022

• Market: Geographic Growth Opportunities -Asia-Pacific Countries to Register Higher Growth During Forecast Period

• Market: Regional Mix -North America Will Continue to Dominate Market During Forecast Period

• Market: Developed Vs. Developing Markets -Developing Markets to Register Higher Growth During Forecast Period

Market Dynamics

Drivers

• Increasing Pet Ownership

• Increasing Prevalence of Chronic Diseases in Animals

• Rising Adoption of IoT and AI by Pet Owners

• Increase in Pet Healthcare Spending

Restraints

Opportunities

Challenges

Industry Trends

Key Report Attributes:

For extra details about this report go to https://www.researchandmarkets.com/r/2u1ibc

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