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Veterinary Telemedicine Market to Surpass US$ 95.2 Million by 2028, Says Coherent Market Insights (CMI)

/EIN News/ -- 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.

Competitive Landscape:

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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Market Segmentation:

  • Global Veterinary Telemedicine Market, By Type:
    • By Telephone
    • By Internet
    • Other
  • Global Veterinary Telemedicine Market, By Application:
    • Radiographic Reporting
    • CT Reporting
    • X-Ray & PACS Advice
    • MRI Reporting
    • Other
  • Global Veterinary Telemedicine Market, By Region:
    • North America
      • By Country
        • U.S.
        • Canada
    • Latin America
      • By Country
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • By Country
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Country
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • By Country
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • By Region/Country
        • South Africa
        • Central Africa
        • North Africa

Related Market Intelligence Reports:

Video Telemedicine Market, By Deployment (On-Premise Video Conferencing, and Cloud-Based Video Conferencing), By Component (Hardware, Software), By Application (Oncology, Cardiology, Dermatology, Gynecology, Dentistry and Neurology), By Communication Technologies (3G, 4G, ADSL, Broadband ISDN, and Satellite Communication), and By End User (Hospitals, Clinics, Home Care Services) - Global Industry Insights, Trends, Outlook and Opportunity Analysis, 2018-2026

Veterinary Oncology Market, by Animal Type (Companion Animal (Equine, Canine, and Feline), and Livestock Animal), by Therapy Type (Chemotherapy, Combination Therapy, Immunotherapy, and Targeted Therapy), by Mode of Administration (Oral and Intravenous), by Application (Canine Lymphoma, Osteosarcoma (OSA), Mast Cell Cancer, Melanoma, and Multiple Myeloma), by Distribution Channel (Hospital Pharmacies, Government Agencies, and Retail Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 – 2026

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Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.

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