Telehealth Market 2024 – Market Brief Analysis, Market Size, Top Leading Companies, Segmentation | FirstVet, Whiskers Worldwide LLC, Airvet, BondVet, Fuzzy Pet Health

The Telehealth by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Telehealth, The telehealth market size has grown exponentially in recent years. It will grow from $135.59 billion in 2023 to $175.3 billion in 2024 at a compound annual growth rate (CAGR) of 29.3%. The growth in the historic period can be attributed to strong emerging markets growth, increased spending on pets, supportive government initiatives, and increased penetration of pet insurance.

The telehealth market size is expected to see exponential growth in the next few years. It will grow to $445.8 billion in 2028 at a compound annual growth rate (CAGR) of 26.3%. The growth in the forecast period can be attributed to the increasing pet ownership, the increasing consumption of animal-derived products, and the increasing urbanization. Major trends in the forecast period include focus on advanced technologies such as artificial intelligence, new facility expansions, partnerships and collaborations, and launch of new veterinary telehealth services to improve their financial strength and product portfolio.

The rising prevalence of chronic diseases such as cancer, diabetes and hypertension is expected to be a major driver of the telehealth market. Long working hours, limited physical activity, and unhealthy eating and drinking habits contribute to the prevalence of chronic diseases and leave people suffering from these diseases more vulnerable to chronic diseases, thus driving the need for telehealth services platforms. For instance, in September 2023, according to the World Health Organization, a Switzerland-based specialized agency of the United Nations, there were 41 million deaths, which is 74% of those caused by non-communicable diseases (NCDs) or chronic diseases every year globally. There were 17.9 million deaths from cardiovascular diseases, 9.3 million deaths from cancer, 4.1 million deaths from chronic respiratory diseases, and 2.0 million deaths from diabetes. Therefore, the rise in the prevalence of chronic diseases is projected to propel the growth of the market.

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The telehealth market covered in this report is segmented –
1) Telehealth Market By Component: Software, Services, Hardware
2) Telehealth Market By Mode Of Delivery: Cloud-based, On-Premise
3) Telehealth Market By Application: Teleradiology, Telepathology, Teledermatology, Telecardiology, Others
4) Telehealth Market By End-User: Healthcare Providers, Patients, Payers, Other End-Users

Top Major Players

FirstVet

Whiskers Worldwide LLC

Airvet

BondVet

Fuzzy Pet Health

Healthcare service providers are collaborating and partnering with start-ups and other technology companies to broaden their services and offerings. In March 2021, Doctor On Demand, a virtual care provider, planned to merge with Grand Rounds, a leader in healthcare quality and navigation. The new integrated virtual care company will offer a unique proposition. These two platforms will offer a patient and provider a full suite of digital and interactive solutions. The new company will combine Grand Rounds’ data-driven clinical navigation platform and patient advocacy tools with Doctor On Demand’s preeminent virtual care offering.

The telehealth market report table of contents includes:

1. Executive Summary

2. Telehealth Market Characteristics

3. Telehealth Market Trends And Strategies

4. Telehealth Market – Macro Economic Scenario

5. Global Telehealth Market Size and Growth

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32. Global Telehealth Market Competitive Benchmarking

33. Global Telehealth Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Telehealth Market

35. Telehealth Market Future Outlook and Potential Analysis

36. Appendix