North America And Europe Veterinary Telehealth Industry Overview
North America and Europe veterinary telehealth market size was valued at USD 63.4 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 19.0% from 2021 to 2028. The rising animal population along with the increasing expenditure on pets and initiatives by the government and private sectors are some of the key drivers of this market. According to the American Pet Products Association (APPA), in 2020, Americans spent USD 103.6 billion on pets, which was about USD 6.0 billion more than the previous year.
The COVID-19 pandemic fueled the rapid adoption of veterinary telehealth solutions as pet parents and veterinarians sought contactless ways to care for animals and their health issues. Many veterinary clinics and hospitals began offering telehealth services to their customers in combination with curbside services. This trend is expected to continue even after the pandemic, as more and more people opt for a veterinarian’s opinion on a digital platform first before visiting a clinic or hospital.
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In the U.K., the Royal College of Veterinary Surgeons (RCVS) is the chief regulatory body for standards and guidance regarding the veterinary practice and profession. In view of the COVID-19 pandemic, the RCVS allowed remote prescribing of veterinary medicine without a physical examination. However, the RCVS Standards Committee is poised to press on with its review of telemedicine rules post the pandemic.
Increasing availability and adoption of pet insurance is another factor driving the market for veterinary telehealth in North America and Europe. As per the May 2020 press release by the North American Pet Health Insurance Association (NAPHIA), Canada’s pet health insurance sector has been growing at an average annual growth rate of 15.4%. A similar trajectory is observed for the U.S. market as well. Many pet insurance providers provide telehealth either as a complementary service to onboard new customers or as part of its reimbursed services. For example, Prudent Pet covers a variety of e-visits under its accident plus illness plan.
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Veterinary Telehealth Market - The global veterinary telehealth market size was valued at USD 119.6 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 17.6% from 2022 to 2030.
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North America And Europe Veterinary Telehealth Industry Segmentation
Grand View Research has segmented North America and Europe veterinary telehealth market on the basis of animal type, service type, and region:
North America & Europe Veterinary Telehealth Animal Type Outlook (Revenue, USD Million, 2016 - 2028)
- Canine
- Feline
- Equine
- Bovine
- Swine
- Others
North America & Europe Veterinary Telehealth Service Type Outlook (Revenue, USD Million, 2016 - 2028)
- Telemedicine
- Teleconsulting
- Telemonitoring
- Others
North America & Europe Veterinary Telehealth Regional Outlook (Revenue, USD Million, 2016 - 2028)
- North America
- Europe
Market Share Insights
March 2021: PetsApp launched PetsApp Widget and PetsApp Web to onboard more clients and to enable users to experience the app features on their desktop computers, respectively.
Key Companies profiled:
Some prominent players in the North America And Europe Veterinary Telehealth Industry include
- FirstVet
- PawSquad
- Vets Now
- Petzam
- Whiskers Worldwide, LLC
- BabelBark, Inc.
- Video With My Vet
- Vet-AI Ltd
- AmerisourceBergen Corporation
- The Vet Connection
- IDEXX Laboratories, Inc.
- Wizzvet
- Barkibu
- Barkyn, Lda
- VetCT
- Dindog Tech SL
- PetsApp Ltd
- Activ4Pets
- Airvet, Inc.
- GuardianVets
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