New York, July 04, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Veterinary Telehealth Global Market Report 2023" - https://www.reportlinker.com/p06457494/?utm_source=GNW
, Petzam Inc., and Animan Technologies Inc.
The global veterinary telehealth market is expected to grow from $3.15 billion in 2022 to $3.77 billion in 2023 at a compound annual growth rate (CAGR) of 19.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The veterinary telehealth market is expected to reach $7.43 billion in 2027 at a CAGR of 18.4%.
The veterinary telehealth market consists of revenues earned by entities by providing veterinary healthcare services such as telemedicine, teleconsulting, telemonitoring, teleadvice, teletriage,e-prescribing, and mhealth.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Veterinary telehealth refers to any use of technology to provide health information, education, or remote care for vets. Veterinary telehealth involves the use of electronic medical information interchange from one site to another to improve and analyze animals’ overall health status.
North America was the largest region in the veterinary telehealth market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in veterinary telehealth report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main animal types in veterinary telehealth are canine, feline, equine, bovine, swine, and others.Canine animals are mammals with snouts, nonretractable claws, and frequently long muzzles.
It is available in service types such as telemedicine, teleconsulting, and telemonitoring and others. It envolves various applications such as computed tomography (CT) reporting, radiographic reporting, X-ray and picture archiving and communication system (PACS) advice, magnetic resonance imaging (MRI) reporting, and others.
The growing prevalence of zoonotic diseases in animals is expected to propel the growth of the veterinary healthcare market going forward.Zoonotic diseases are a group of common diseases caused by pathogenic germs such as viruses, bacteria, parasites, and fungi.
These viruses can cause various ailments in humans and animals, from moderate to severe illness and even death.Veterinary telemedicine services can help to reduce zoonotic infections in animals by enabling disease detection and management.
Veterinarians can discover and diagnose diseases in their early stages by providing virtual consultations with pet owners, thereby limiting the spread of zoonotic infections.For instance, in July 2022, according to an article published by the world health organization, a US-based government agency, states that there was a 64% rise in the number of zoonotic cases in Africa.
Furthermore, zoonotic illnesses are on the increase both internationally and in India. These emerging infectious diseases in humans account for 60% of cases, with 816 zoonotic pathogens out of 1407 human pathogens. Therefore, the growing prevalence of zoonotic disease in animals will drive the veterinary telehealth market.
Product innovations are a key trend for gaining popularity in the veterinary telehealth market.Major companies operating in the veterinary telehealth market are focused on developing innovative solutions to strengthen their position in the market.
For instance, in October 2020, Chewy Inc., a US-based pet e-commerce retailer of pet-related items, will introduce a new telehealth service, Connect With a Vet, which allows pet owners and veterinarians to use the company’s unique tele-triage technology to maintain continuous veterinary care and support. With this new service, pet parents may speak directly with a licensed veterinarian to obtain answers to their questions, obtain advice, address concerns about their pet’s health and welfare, and even seek recommendations to local doctors or emergency clinics. The simplicity of use and convenience of this tele-triage solution will have a favorable influence, making it unique. Chewy Inc.’s introduction of Connect With a Vet promises to revolutionize how pet owners access veterinary care .
In November 2020, Pets at Home, a UK-based pet care business providing food, toys and bedding, grooming services, and veterinary services, acquired The Vet Connection for £ 15 million ($17.90 million). The acquisition of The Vet Connection is a significant step toward the growth of Pets at Home’s digital capabilities, which will provide trustworthy guidance and even more accessible pet care services. The Vet Connection (TVC) is a UK-based provider of independent veterinary telehealth.
The countries covered in the veterinary telehealth market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The veterinary telehealth market research report is one of a series of new reports from.The Business Research Company that provides veterinary telehealth market statistics, including veterinary telehealth industry global market size, regional shares, competitors with a veterinary telehealth market share, detailed veterinary telehealth market segments, market trends and opportunities, and any further data you may need to thrive in the veterinary telehealth industry.
This veterinary telehealth market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06457494/?utm_source=GNW
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
