According to Vision Research Reports, the veterinary teleradiology market reached value at US$ 200 Mn in 2020 and predicted to surpass around US$ 600 million by 2030.
According to Vision Research Reports, the veterinary teleradiology market reached value at US$ 200 Mn in 2020 and predicted to surpass around US$ 600 million by 2030.
Veterinary teleradiology is an emerging clinical practice in animal health, which enables radiologists to interpret and analyse medical images to offer better diagnosis and treatment. Expansion of the pet animals industry, technological advancements, and rise in the number of the veterinarian radiologists and other professionals are projected to fuel the veterinary teleradiology market over the next few years. Veterinary teleradiology was introduced in the year 1990, and the practice is expanding, owing to the availability of broadband connections, image compression, and availability of economical PACS and DICOM software.
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Moreover, cloud-based teleradiology services are cost-effective and offer easy access to a patient’s records. These attributes are expected to boost the veterinary teleradiology market across the globe.
Rise in pet ownership across the globe and an increase in awareness about the treatment of various diseases are also anticipated to fuel the global veterinary teleradiology market
Artificial Intelligence in Veterinary Teleradiology to Create Significant Opportunities in Global Market
Technologies such as virtual and augmented reality (VR & AR) and artificial intelligence (AI) are changing the way doctors practice medicine, and there is no reason to believe that veterinary would be any less transformed. According to the American Veterinary Medical Association, AI is being used in image interpretation, disease diagnosis, patient monitoring, drug development, and even robotic surgery. Google and IBM have made significant investments in the AI healthcare sector, which is projected to hit US$ 150 Bn over the next decade. Veterinary medicine and pet owners are also using AI, primarily in areas of teleradiology, triage, and diagnosis.
The AI technology analyzes massive amounts of data according to a set of instructions known as algorithms in order to accomplish a specific task. AI tools are the driving force behind the evolution of the veterinary industry. Not only are these making animal healthcare better, but making veterinary practices easier as well.
Mobile Apps Create Growth Prospects for Service Providers of Veterinary Teleradiology
The veterinary teleradiology market is expected to surpass US$ 600 Mn by 2030. Telemedicine is becoming increasingly mainstream in the veterinary profession. Veterinary teleradiology services are a great way of dealing with animal health that do not warrant an emergency visit to a local vet.
Companies in the veterinary teleradiology market are anticipated to unlock growth opportunities by developing mobile apps after the popularity of the TeleVet App, which helps the user to navigate if a veterinarian is in-network and know the exact charges for the services or diagnosis. On the other hand, there is a growing demand to incorporate clinically validated AI in software and other radiology platforms.
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Digital Medical Imaging Training Gains Importance to Improve Diagnostic Outcomes
The emergence of the digital technology in western countries has enabled the development and modernization of medical imaging technologies. However, there is a need for veterinary imaging training for professionals due to the onset of new digital medical imaging technologies.
Besides understanding the techniques, there is a need for anatomical knowledge to thoroughly understand diagnostic imaging. Veterinary curriculum is overloaded with educational content and needs the accommodation of imaging component for training programs. Thus, service providers in the veterinary teleradiology market are gaining awareness about this issue and extending their arms to offer digital medical imaging training to radiologists.
Report Highlights
In terms of service type, the global veterinary teleradiology market has been segregated into emergency care, daytime coverage, second opinion, and sub-specialty reading. The daytime coverage segment accounted for a prominent share of the global market in 2020, owing to benefits such as providing variable costs, staffing flexibility, and proper interpretations within a shorter period of time.
The market on the basis of animal type has been classified into livestock animals and companion animals. The companion animals segment accounted for a prominent share of the market in 2020 attributable to an increase in pet ownership of companion animals across the globe. For instance, as per the American Society for the Prevention of Cruelty to Animals, 78 million dogs and 85.5 million cats are owned in the U.S., which is expected to boost pet care and pet diagnostics through teleradiology at a rapid pace.
In terms of modality, the global veterinary teleradiology market has been split into X-ray, Computed Tomography (CT) Scan, Magnetic Resonance Imaging (MRI), Ultrasound Scan, and nuclear scan. The X-ray segment accounted for a major share of the global market in 2020, owing to rise in popularity and adoption of digital X-ray veterinary practice, as it is environment-friendly and offers high-quality images for veterinarians to understand the animal’s condition.
In terms of region, the global veterinary teleradiology market has been divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global veterinary teleradiology market in 2020, followed by Europe and Asia Pacific. Rise in adoption of companion animals and increase in investments in pet care are projected to drive the market in the region over the next few years. According to a research, 67% of households in the U.S. own a pet. Hence, increase in diseases among companion and livestock animals is a major factor that is likely to propel the global veterinary teleradiology market during the forecast period.
The veterinary teleradiology market in Asia Pacific is anticipated to expand at a high CAGR from 2021 to 2030. The expansion of the veterinary teleradiology market in the region can be ascribed to increase in awareness about pet ownership and pet health, and rise in the number of livestock animals in emerging countries. The presence of a large number of veterinary clinics and professionals in developed countries, such as Japan, is projected to propel the market in Asia Pacific.
Key Players
The global veterinary teleradiology market is consolidated in terms of number of players. The market is dominated by key players who focus on innovative product offerings, robust & strong geographic presence, strategies for expansion of product portfolio, and adoption of teleradiology services in the market. Key players include Veterinary Imaging Consultations, Inc., VetRad, VetCT, Lynks Group plc, BluePearl Veterinary Partners, Veterinary Medical Center, Animal Imaging, VEDIM, and VICSD Teleradiology Group.
Market Segmentation
- By Service Type
- Emergency Care
- Day Time Coverage
- Second Opinion
- Sub-specialty Reading
- By Animal Type
- Companion Animals
- Livestock Animals
- By Modality
- X-ray
- Computed Tomography (CT) Scan
- Magnetic Resonance Imaging
- Ultrasound Scan
- Nuclear Scan
- By End User
- Veterinary Hospitals
- Veterinary Clinics
- Veterinary Radiology Centers
- Others
- By Region
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- North America
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