Veterinary Teleradiology Market:
Market Outline:
Veterinary teleradiology is a technology used for the interpretation and analysis of medical images by radiologists who are not present at the location where the images were generated. Veterinary teleradiology technique is most commonly used in pet clinics, veterinary radiology centres, and veterinary hospitals. Veterinary technology considered as an advanced solution for improving the animal health and treatment without any delay. The major applications with the teleradiology include teleconsultation, telemonitoring, and telediagnosis which help the radiologists to perform their work more efficiently.
Market Dynamics:
Increase in the companion and livestock population, a rise in prevalence of animal diseases, increase in the number of veterinary practitioners, an increase in the animal welfare expenditure are anticipated to fuel the veterinary teleradiology market. Moreover, technological advancements veterinary teleradiology such as real-time data interpretation, favourable reimbursement policies are expected to propel the veterinary teleradiology market over the forecast period. However, the high cost of teleradiology technology, complications in data storage, lack of skilled technicians and radiologists, and lack of awareness about veterinary teleradiology in developing and underdeveloped regions might restrain the veterinary teleradiology market over the forecast timeframe.
Market Scope:
It is segmented on the basis of modality, service type, animal type, and end user
Based on the modality, veterinary teleradiology market is segmented into the following:
- Computed Tomography (CT)
- Ultrasound Scans
- X-ray
- Nuclear Scans
- Magnetic Resonance Imaging (MRI)
Based on the service type, veterinary teleradiology market is segmented into the following:
- Day Time Coverage
- Emergency care
- Sub-Speciality Reading
- Second Opinion
Based on the animal type, veterinary teleradiology market is segmented into the following:
- Companion animals
- Livestock
Based on the end user, Teleradiology market is segmented into the following:
- Veterinary hospitals
- Clinics
- Radiology centres
Market Summary:
Veterinary teleradiology market is growing at a significant CAGR owing to the dearth of skilled radiology professionals in the underdeveloped regions. Several international companies are focusing on the R&D activities for the innovation of newer imaging technologies and quick data transformation, which are anticipated to fuel the veterinary teleradiology market. Moreover, development of IT infrastructure, upgrading of Picture Archiving and Communication Systems (PACS) and Radiology Information Systems (RIS) might boost the revenue of veterinary teleradiology market over the forecast period. In addition, acquisitions and mergers, collaborations, and technological advancements are key strategies followed by the companies for dominating the veterinary teleradiology market. For instance, in 2012, Idexx Laboratories acquired Shadowsmiths and VetRadiologist for strengthening its business segment in diagnostic information and telemedicine services in the veterinary healthcare industry.
Regional Analysis:
Geographically, veterinary teleradiology market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America veterinary teleradiology market expected to exhibit significant growth, owing to increase in the animal care expenditure, a rise in pet animal adoption rate, an increase in the prevalence of various diseases. Europe veterinary teleradiology market driven by advanced IT infrastructure, increase in per capita income and rise in pet welfare expenditure. Moreover, Asia Pacific veterinary teleradiology market growth attributed to rising in domestic animal and livestock population, a rise in veterinary care expenditure in India and China, and lack of skilled radiologists in rural areas might bolster the veterinary teleradiology market in the region over the forecast period.
Market Participants:
Some of the players in veterinary teleradiology market are Animal Imaging Consultants (U.S.), VetCT (U.K.), Lynks Group (U.S.), PetRays (U.S.), Vet-Rad LTD (U.S.), and IDEXX Laboratories, Inc. (U.S.) to name a few.
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2012-2016) and forecast (2017-2023)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
