SEATTLE, Oct. 27, 2021 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global veterinary telemedicine market is estimated to be valued at US$ 31.2 million in 2021 and is expected to exhibit a CAGR of 17.3% during the forecast period (2021-2028).
Key Trends and Analysis of the Global Veterinary Telemedicine Market:
Key trends in the market include key companies in the market focusing on inorganic growth strategies such as partnership, which is expected to drive the global veterinary telemedicine market growth over the forecast period. For instance, in July 2020, Zoetis U.K. a global animal health company, announced that they entered in a partnership with telemedicine companies such as Vet-AI and Video with My Vet. The telemedicine platforms follow the developing telemedicine guidelines for the U.K. and will enable veterinarians to derive information with the existing client on their smartphones via virtual consultations.
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Key Market Takeaways:
The global veterinary telemedicine market is expected to exhibit a CAGR of 17.3% during the forecast period due to growing prevalence of zoonotic diseases and chronic animal diseases, which is expected to drive the market growth over the forecast period. For instance, according to statistics by the World Health Organization (WHO) in 2021, it is estimated that about one million cases of illness and millions of deaths occur each year from zoonotic diseases, and approximately 60% of emerging infections, worldwide, are the result of zoonotic diseases.
Among type, by internet segment estimated to hold a dominant position in the global veterinary telemedicine market over forecast period. Key players in the market focusing on product launch which is estimated to drive the segment growth in the market over the forecast period. For instance, in March 2021, Practo, an integrated healthcare company, launched a veterinary telemedicine service on its platform. The India-based company teamed up with licensed veterinarians across the country to offer 24x7 online consultation services for pets.
On the basis of region, North America is estimated to hold a dominant position in the global veterinary telemedicine market over forecast period, owing to increasing pet ownership in the U.S. For instance, according to National Pet Owners Survey conducted by the American Pet Products Association (APPA) 2019-2020, about 85 million families in the U.S. own a pet.
Key players operating in the Global Veterinary Telemedicine Market include Agora.io, Anipanion, Linkyvet, Oncura Partners, TeleVet, Vetchat, VetCT., Vetoclock, WellHaven Pet Health, Petriage, PawSquad, and Petpro Connect.
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Global Veterinary Telemedicine Market, By Type:
Global Veterinary Telemedicine Market, By Application:
X-Ray & PACS Advice
Global Veterinary Telemedicine Market, By Region:
Rest of Latin America
Rest of Europe
Rest of Asia Pacific
Rest of Middle East
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