Pet technology (pettech) is making its mark in Southeast Asia, with the domesticated animal care market expected to reach USD 3.08 billion by 2032. Additionally, at the same time, the growth outlook for the segment is projected to be at a rate of 6.8%. The industry is expanding due to a burgeoning middle class with disposable income, increased pet ownership, people humanising their furry companions, the emergence of innovative digital startups, and the adoption of new technologies.
Veterinary technology encompasses learning about medical procedures used in treating animals. The graduates may function similarly to a nurse for humans, helping to calm down a patient or providing advice to the pet owner. Vet technicians learn about applying anaesthesia, assisting during surgeries, handling imaging tools like radiographs, performing lab tests, and more.
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With innovations such as telemedicine and wearable technology, balancing the old tried-and-trusted treatment methods and the latest advanced pet healthcare techniques is essential.
The healthcare industry for humans has undergone a tremendous shift in approach since the COVID-19 pandemic began. However, people were not the only group affected; Pets were no longer getting to spend much time outside, access to treatment and medication was limited, and food quality could have been better. Technology can have a transformative impact on healthcare because it can enhance performance and productivity levels, provide access to data-driven insights, and elevate veterinary care.
Here are several ways in which technology is integrating into pet healthcare:
Telemedicine
With the COVID-19 pandemic prohibiting in-person gatherings, remote hospital or clinic consultations became the norm. Veterinarians also adopted this trend, enabling customers to schedule appointments for their pets to receive remote treatment solutions. Furthermore, vets could prescribe much-needed medication and provide tips on managing the drugs more effectively.
If they could not fix the problems online, the pet owners could, for example, book an in-clinic meeting and get the treatment options they hoped for. Singapore-based ZumVet offers video consultations, delivering convenient and affordable care through licensed practitioners.
Wearable devices
According to Mordor Intelligence, the pet wearables market is growing. It involves remote monitoring with GPS-based real-time location trackers, activity trackers to stay within a certain weight, smart collars, temperature sensors, health trackers, and more.
Food and medication delivery
Animal lovers know that their furry friends need nutritious, organic, and healthy food. Revenue in the pet food market in Southeast Asia currently stands at USD 4.06 billion. Another Singapore-based company, Perromart, provides a digital store platform where customers can order food products, toys, and other items.
AI and machine learning
Artificial intelligence (AI) helps to enhance accuracy in reporting and diagnostics. It will conduct pattern recognition processes to identify health problems or boost the efficiency of tools like X-rays.
Other uses of AI in veterinary care include monitoring animal health by analysing data from their wearables to detect early signs of illness. Experts are using machine learning algorithms to detect the genetic disorder of hip dysplasia in dogs. Diagnosing the disease earlier allows a swifter remedy.
Robotics and automation
Modern-day technologies in clinics and hospitals enable experts to use robotic surgical systems designed explicitly for veterinary procedures to do surgeries. Using robotics reduces mistakes, ensuring greater precision when operating on a pet.
Pet insurance
Companies like Thai-based PetInsure offer insurance solutions to pet owners. An in-house veterinarian evaluates your cat or dog before approving the cover. If you prefer that an outside source check your companion, you can visit a local vet and ask them to complete the forms.
As Southeast Asia’s internet economy grows, there is a greater need to fight against cybercrime and fraud. The pet care industry is integrating technology into its ecosystem to collect people’s data and details about their furry friends’s health, which must also be protected.
Furthermore, predictions show that 426 million citizens in the region will have a digital wallet to pay for goods and services by 2026. For pet owners, this payment solution may be advantageous. Still, it also means there is a possibility of hackers robbing them online unless adequate protections can be put in place by pet healthcare technology companies.
Even though global macroeconomic headwinds have limited investors’ ability to fund every emerging company, pettech startups can receive financial backing if they show their business model is profitable and sustainable. Advances in veterinary technology are propagating many up-and-coming, disruptive, and innovative firms in the pet care space for venture capitalists to back.
Southeast Asians love their furry companions and want to ensure they are healthy and cared for. The adoption of digital payments, telemedicine, and wearable technology in healthcare heralds the next wave of growth. With more significant investments, enhancing these technologies and encouraging new ones to boost the pet care industry is possible.