By Dr. Jill Lopez

In the throes of a swiftly changing world, few professions experience the sweeping impact that veterinary medicine does. Recent years have brought forth an unprecedented surge in demand for our services, and in parallel, the realm of animal health technology has taken monumental leaps. These combined forces are reshaping the very fabric of our field, prompting us to explore the five most significant trends that warrant our attention:

Revolution of Artificial Intelligence in Healthcare:

The National Academy of Medicine issued a resounding declaration in 2019, proclaiming that AI has the power to revolutionize healthcare. Its potential to enhance patient outcomes, alleviate burdens on clinical teams, slash costs, and influence population health is unparalleled. The AI healthcare market, predominantly centered around human health, was valued at approximately 11 billion globally in 2021. Strikingly, forecasts anticipate that by 2030, the global healthcare AI market will ascend to nearly 188 billion, boasting an impressive Compound Annual Growth Rate (CAGR) of 37%.

Elevating Sustainability to New Heights:

The clarion call for sustainability reverberates across industries, and veterinary medicine is no exception. A report from Deloitte in 2022 underscored that over half of consumer brands are in the throes of reinvigorating their offerings to align with sustainable principles. This aligns perfectly with shifting consumer preferences, as over 85% of individuals globally have pivoted towards greener choices. This movement is particularly pronounced among the millennial and Gen Z demographics. The impact is tangible even among pet owners, as a survey revealed that a substantial 42% express a desire to procure pet food comprising sustainably sourced ingredients. Moreover, 72% of pet owners assert they will favor an environmentally friendly product over its counterpart.

Personalization:

A New Frontier for Consumer Engagement: The omnipresence of personalization has become a linchpin of contemporary consumer engagement strategies. The eminent consulting firm McKinsey highlights that almost 90% of consumers have elevated their valuation of personalized experiences over the past few years. Remarkably, one in five individuals is willing to pay a premium of up to 20% for such tailored offerings. This sentiment translates seamlessly to the world of veterinary medicine, with a resounding 88% of pet parents in the United States emphasizing the importance of preventive measures to safeguard their pets' well-being. Products that offer targeted benefits resonate deeply with consumers, instilling confidence that desired outcomes will be realized.

Wearable Tech, Supplements, and Tech Synergize:

Wearable devices are no longer confined to human domains; they have permeated the landscape of pet care, encompassing GPS microchips and health monitors. This crossover from human health exemplifies the interplay between industries. A notable trend emerges in the realm of pet supplements, which has burgeoned into a market projected to be valued at $3.20 billion by 2028, with a robust CAGR of 5.8%. This growth is propelled by an upswing in pet ownership, a preference for natural ingredients, and the accessibility of online platforms for purchase. Particularly striking is the 116% expansion experienced by the pet supplement industry between 2019 and 2020, accompanied by a surge in offerings that cater to immune system support, digestive health, and anxiety management.To combat pet anxiety, a pervasive issue that affects more than 74% of dogs, innovative tech solutions are emerging. Foremost among these is Zoundz Music For Pets™, a pioneering music therapy device that has carved a niche in soothing anxious pets. Backed by scientific sound studies, Zoundz music has been proven to exert a calming influence on pets, from those experiencing unease at home to those encountering anxiety during veterinary visits.

Extending Hospitals: Overcoming Workforce Gaps Through Telespecialty:

The arena of veterinary practice is grappling with a pronounced dearth of staff, a predicament exacerbated by the surging demand for services. Against the backdrop of over 84 million households owning pets, the supply of veterinary professionals struggles to keep pace. Despite the addition of new veterinary schools and graduates, this gap persists. Furthermore, the attrition rate for veterinary support team members is concerning, with a significant portion leaving the industry within five years.In response, a solution emerges in the form of veterinary telespecialty services, typified by Veterinary TeleSpecialty by VOCN. This innovation leverages existing veterinary-client relationships, enabling general practices to collaborate with telespecialists to diagnose and formulate treatment plans for cases. This extension of services covers a spectrum of disciplines, from dermatology and ophthalmology to neurology and surgery. The outcome is an augmented service portfolio for general practices, cultivating client loyalty, retaining revenue, and fostering mutual success.

As veterinary medicine stands on the cusp of transformation, these profound trends carve the trajectory of our field's evolution. By engaging with these dynamics, practitioners position themselves to navigate the dynamic terrain of modern veterinary practice with acumen and resilience.