About Veterinary Telemedicine Platform
The veterinary telemedicine platform helps in connecting veterinary professionals with the vet clinics across the globe for specialty vet care for small and large animals. This software provides real-time and web-connected healthcare facilities to vet owners. Through this veterinarian can set up virtual consultation capabilities in the wake of social distancing and COVID-19 to provide care to their clients, in place of in-person clinic visits. There are various start-ups that emerge in the last few years by looking at the low risk of investing in less regulated healthcare sectors. This is a major reason behind the growing interest of start-ups in veterinary clinics. As FDA revealed that the veterinary clinic sector is less regulated as compared to any other healthcare model. As due to COVID-19, man states such as New York, New Jersey, Minnesota, and North Carolina, forbid the corporate practice of veterinary medicine.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
This market is seeing major awareness in the United States and Canada regions, because of the highest adoption of pets by millennials in the North America region. As of now, there is no big player operates in this industry. There are some start-ups are holding major market share in this market technologies such as Animation, Linkyvet, Vetoclock, VetNOW, and others. All technology-based new start-ups are ruling in this market. By looking at current market situations, start-ups are focusing on strengthen their connections with leading healthcare players. For instance, Elanco Animal Health Incorporated and VetNOW announced the partnership to provide veterinarians access to provide their service in the United States and Canada for free. Through the VetNOW is enhancing its customer base in the United States and Canada. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Veterinary Telemedicine Platform market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Anipanion (United States), Linkyvet (France), Vetoclock (United Kingdom), TeleVet (United States), Petriage (United States), TeleTails (United States), VetNOW (United States), AirVet (United States), PawSquad (England) and VetCT (United Kingdom) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Petpro Connect (Italy), Analogic Corporation (Oncura Partners) (United States) and GoFetch Health (Canada).
Segmentation Overview
AMA Research has segmented the market of Global Veterinary Telemedicine Platform market by Type (Real-time Chat, Radiology Consulting and Others), Application (Livestock Animals {Poultry, Swine, Cattle, Fish} and Companion Animals {Dogs, Cats, Horses}) and Region.
On the basis of geography, the market of Veterinary Telemedicine Platform has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Services, the sub-segment i.e. Tele-Consultation will boost the Veterinary Telemedicine Platform market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Technology, the sub-segment i.e. Standalone or App-Based Texting will boost the Veterinary Telemedicine Platform market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Offerings, the sub-segment i.e. Solutions will boost the Veterinary Telemedicine Platform market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
The radiographic is becoming a major revenue contribution segment which is expected to grow in the forecast period. As radiologists are moving towards telemedicine tools for medical professionals. This will add value to the medical diagnosis by rejecting the requirement for visiting the doctor and making veterinary healthcare approachable.
Market Growth Drivers:
With the rise in popularity of social distancing because of enhancing the ability to deliver health information and education to remote places. As easy access to telemedicine through electronic communication promotes the high driving factor users. Along with rising accessibility of smart devices, along with increasing penetration of the internet is also rising awareness towards telemedicine platforms.
Challenges:
Lack of Awareness Regarding Veterinary Telemedicine Platform in Underdeveloped Regions
Restraints:
Lack of Trained Medical Personnel Specializing in Telemedicine
Opportunities:
Technological Advancements Such Advent of Artificial Intelligence in Telemedicine Platforms is Creating Strong Growth Potential in This Market and Increasing Number of Technology-Based Start-Ups Across the Globe
Market Leaders and their expansionary development strategies
In April 2023, Mars, Incorporated ("Mars"), and Heska Corporation has acquired Heska, a global provider of advanced veterinary diagnostic and specialty products. This acquisition will enable the Science & Diagnostics division of Mars Petcare to expand its diagnostic offerings and broadly promote point-of-care veterinary diagnostics to the global pet healthcare community.
In Mar 2020, GoFetch, a Canadian based announced the launch of its free access to its veterinary telemedicine platform, which will connect pet owners with veterinary clinics during the COVID-19 outbreak. This is an application-based service and it is register free of charge until June 1, 2020. The application provides live veterinary chat function under which veterinarians and veterinary technicians provide general support, advice, and triage to the multiple pet owners simultaneously. And after that provide paid virtual video consults for a primary veterinarian, with more in-depth support, and treatments.
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analyst and Strategic Business Planners, Veterinary Telemedicine Platform Providers, Government Regulatory and Research Organizations and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.