July 28, 2022 15:30 ET | Source: Straits Research Straits Research
New York, United States, July 28, 2022 (GLOBE NEWSWIRE) -- Medical professionals and anyone receiving medical support can communicate with health information, education, or treatment remotely. To improve a patient's clinical health status, telehealth offers the transmission of technology from one location to another. Patients who are not in the same place as the healthcare professional can be monitored thanks to the technology. The use of telehealth by veterinarians is a result of ongoing technical improvements. The practice of veterinary care (advice, diagnosis, and treatment), which takes place remotely using telecommunication between a veterinarian and an animal owner, is referred to as telehealth. In other words, telehealth is a tool used in veterinary medicine, and it entails the electronic transmission of medical data on a patient's clinical health status. Telehealth is a supplement to conventional veterinary medical practice, not a replacement. All legal prerequisites, including informed permission, must be met before an animal doctor can diagnose and treat an individual via telehealth.
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The Rising Cases of Zoonotic Infections and Chronic Diseases among Animals The enormous preference for veterinary telemedicine services is partly influenced by the rising occurrence of zoonotic illnesses and chronic animal diseases. Approximately 1 million illnesses and millions of deaths are attributed to zoonotic diseases each year, as well as 60 percent of all new infections, according to WHO data from 2021. As a result, the infection surge is pressuring farm and pet owners to use telehealth services to monitor and improve their animals' health. Additionally, the extensive use of veterinary telehealth services is being prompted by the rising incidence of diseases that affect the animal population, such as chronic kidney disease and diabetes. Therefore, the above causes play a part in the growing demand for veterinary telemedicine services.
Increasing Pet Owners Globally The popularity of pet owners' telehealth services is growing, partly due to the rise in pet ownership worldwide. About 85 million American families own pets, according to the American Pet Products Association's (APPA) 2019-2020 National Pet Owners Survey. Additionally, due to a growing preference for companionship, roughly one in three Americans adopted a pet during the COVID-19 epidemic, according to the Insurance Research Council's October 2020 study. Additionally, 3.2 million households in the UK have adopted a pet since the start of the COVID-19 epidemic, according to statistics from the Pet Food Manufacturers Association (PFMA) 2021. Pet owners choose virtual care since it eliminates the burden of travelling, waiting, and spending time and money on their dogs. As a result, the need for veterinary telehealth services is growing as pet ownership increases globally.
Growth Opportunities for the Global Veterinary Telehealth Market
Many businesses emphasise organic growth initiatives, including new launches, product approvals, patents, and events. Acquisitions, partnerships & collaborations were examples of inorganic growth tactics observed in the market. These actions have enabled market participants to increase their clientele and revenue. With the growing demand for Veterinary telehealth in the global market, market participants from the veterinary telehealth market are projected to benefit from lucrative growth prospects in the future.
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Regional Analysis of the Global Market for Veterinary Telehealth The global market for veterinary telehealth is segmented into North America, Europe, Asia-Pacific, Latin America and the Middle East & Africa. North America dominated the market. The United States currently holds the largest proportion of the North American market, a position it is certain to keep. This is due to high healthcare costs, influential market participants, technological improvements, and rising disposable income. The region's demand for companionship and lifestyle has prompted Americans to opt for pet insurance, fuelling the use of veterinary telehealth services.
North American Pet Health Insurance Association (NAPHIA): US gross written premiums of USD 1.99 billion in 2020, up 27.5% from USD 1.56 billion in 2019. The rise in cattle consumption also boosts the demand for veterinary telehealth services. 93 million cattle and calves will be in the US by 2021, according to the USDA's National Agricultural Statistics Service. The veterinary telehealth market in North America is expected to increase significantly over the projected period.
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Some of the Key Players Contributing Majorly To the Global Veterinary Telehealth Market Are
Market Segmentation By Animal Type
Table of Content and Figure @ https://straitsresearch.com/report/veterinary-telehealth-market/toc
Recent developments in some of the key players:
How Boosting Advanced Imaging Could Improve Rural Health in the US?
How COVID-19 Pandemic Accelerated the Global Telemedicine Market
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