Global Veterinary Telehealth Market: Overview
Rising adoption of various electronic and digital management systems is boosting the sales in global veterinary telehealth market in recent times. These management systems receive huge demand owing to their benefits such as excellent veterinary disease detection as well as increasing focus on veterinary telehealth solutions. Moreover, rising prevalence of various chronic as well as zoonotic diseases in animals is also propelling the growth in global veterinary telehealth market in coming years. Furthermore, increasing adoption of next generation and latest technologies, such as artificial intelligence as well as internet of things by pet parents is also expected to foster the development of global veterinary telehealth market in coming years.
The study evaluates key factors that can influence the growing global veterinary telehealth market over the forecast period of 2021 to 2031. It also examines the individual as well as the cumulative performance of various regions operating within the global veterinary telehealth market. The research report on healthcare industry analyses various market drivers and restraints that can potentially change the landscape of global veterinary telehealth market over the forecast period of 2021 to 2031. The professional survey study employs enormous amount of data acquired through various industry leading sources to determine the shifts in demand dynamics in global veterinary telehealth market during the forecast period. It shares insights regarding the key segments in the global veterinary telehealth market and assesses them based on their size, share, revenue, and forecast over 2021 to 2031.
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Global Veterinary Telehealth Market: Major Trends and Drivers
Rising prevalence of pet diseases including kidney diseases, issues related to blood pressure, diabetes, and spinal disc problems is fuelling the demand in global veterinary telehealth market. Rising instances of obesity in pets and subsequent health conditions such as osteoarthritis as well as joint diseases is also driving the demand in global veterinary telehealth market for enhanced treatment and therapeutic options. Moreover, increasing instances of disease outbreaks in livestock that can cause loss in production, disruption of regional markets, and other socioeconomic threats may also bolster the development trajectory of global veterinary telehealth market in years to come.
Global Veterinary Telehealth Market: Key Players and Manufacturers
Few of the leading and major players and stakeholders in the global veterinary telehealth market include Airvet, Babel Bark, Inc., Pet Desk, TeleTails, Vester, Inc., Whiskers Worldwide LLC, FirstVet, Petriage Inc., Activ4Pets, Guardian vets, Petzam, Televet, VitusVet, Virtuwoof, LLC, and Paw Squad, among others. Players and service providers in the global veterinary telehealth market are engaged in various organic as well as inorganic strategies such as strategic collaborations, regional expansion, and new product launches to amass a greater share in the industry in coming years.
For example, TeleVet entered into a partnership with Cornell University Hospital for Animals to deploy their telehealth platform for telehealth operations of the University in August of 2020. Furthermore, TeleTails launched a new suite of software solutions as a response to COVID-19 pandemic in May of 2020 called ‘Tele Tails Instant’. This software solution offers a video conferencing tool for vets and pets.
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Global Veterinary Telehealth Market: Regional Assessment
Geographically, North America dominated the global veterinary telehealth market in recent past owing to strong presence of major incumbent players in the region as well as increasing investments in expenditure for animal health. Furthermore, technological advancements as well as high disposable income amongst regional population are also some key reasons for the large industry share of North America within the global veterinary telehealth market. Another region expected to demonstrate considerable growth in the global veterinary telehealth market in coming years is Asia Pacific.
Key factors driving development of the global veterinary telehealth market in Asia Pacific include increasing adoption veterinary healthcare facilities along with fast paced expansion of production and manufacturing facilities in the regional economies such as India and China.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.