(EMAILWIRE.COM, October 27, 2022 ) According to Precision Business Insights (PBI) latest report, the global veterinary teleradiology market size was valued at USD 218.2 million in 2021 and is expected to expand at a CAGR of 4.8% over the forecast period 2022-28. In the coming years, the veterinary teleradiology market is expected to be driven by the growth of the pet animal industry, technical improvements, and an increase in the number of veterinarian radiologists and other specialists. Since its introduction in 1990, veterinary teleradiology has grown thanks to the accessibility of broadband connections, image reduction, and affordable PACS and DICOM software. With the help of radiologists who can interpret and analyze medical pictures to provide improved diagnosis and treatment, veterinary teleradiology is a developing clinical practice in animal health.
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Veterinary Teleradiology Market Growth Factors
Growing domestic, livestock, as well as companion animal industries, an increase in animal diseases and unintentional occurrences, a rise in the number of veterinary professionals, and income levels, are the main drivers of teleradiology market demand. Additionally, teleradiology services are evolving to provide consumers with quick and precise findings. The risk to data security, the high cost of technology, the lack of qualified radiologists and technicians, and poor access to rural places are the main factors impeding the development of the teleradiology market.
Veterinary Teleradiology Market Segmentation
Veterinary Teleradiology Market on the basis of modality, the market is segregated into Computed Tomography (CT), Ultrasound Scans, X-ray, Nuclear Scans, Magnetic Resonance Imaging (MRI)). Based on service type, the market is divided into Day Time Coverage, Emergency care, Sub-Speciality Reading, Second Opinion). On the basis of animal type, the market is categorized into Companion Animals, Livestock). On the basis of end-user, the market is classified into Veterinary hospitals, Clinics, and Radiology centers.
Veterinary Teleradiology Market Trends
The market is being driven by the latest trend in teleradiology services together with the most recent IT infrastructure, which also includes artificial intelligence and algorithms, cloud storage that requires little maintenance, and picture backup storage.
The worldwide veterinary teleradiology market is also projected to be driven by the rise in pet ownership globally and an increase in understanding of the treatment of different ailments.
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Veterinary Teleradiology Market Regional Analysis
In 2020, North America was the largest region in the world for veterinary teleradiology, second by the Asia Pacific and Europe. Over the next years, the market in the region is expected to be driven by a rise in pet ownership and investments in pet care. A study found that 65% of American homes have a pet. Therefore, one of the key factors that are predicted to drive the worldwide veterinary teleradiology market throughout the forecast period is the rise in diseases among pet and livestock animals.
The major players operating in the Veterinary Teleradiology Market are Animal Imaging Consultants (U.S.), VetCT (U.K.), Lynks Group (U.S.), PetRays (U.S.), Vet-Rad LTD (U.S.), IDEXX Laboratories, Inc. (U.S.)
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