The Veterinary Teleradiology market to exhilarate from 2017 to 2025

Veterinary teleradiology is the practice of medical images interpretation and analysis by a radiologist who is not present at the site where the images were generated. This market is utilized by hospitals, pet clinics, and veterinary radiology centers. Teleradiology enables radiologists to use advanced teleradiology solutions in order to improve patients care and treatment without any delay in the treatment process. The concept of teleradiology arose due to dearth of radiologists, as the specialized group of people is generally located in metropolitan areas. Teleradiology markets enable trained specialists to provide their interpretation and guidance 24/7 across the globe.

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The primary factor fuelling demand for teleradiology market is increasing domestic, livestock and companion animal industry, rising animal disease and accidental cases, growing number of veterinary practitioners and the income levels. In addition rising innovations in teleradiology services, which offer rapid and accurate results to customers.  However, a primary factor hampering growth of the teleradiology market is the risk of data security, high cost of technology, dearth of trained radiologists and technicians and transformation access to remote areas.

High cost of services, image transmission issues, low awareness in emerging economies are going to be a major challenge for veterinary teleradiology services market. Manufacturers are expected to invest more on the product technology for quick transformation of data which include various parameters of information and technology. Ongoing trends for teleradiology services are driving the whole market coupled with the latest IT infrastructure which also include artificial intelligence and algorithms, cloud with low maintenance and image backup storage.

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The global market for veterinary teleradiology is segmented on basis of product type, construction material, end user and geography:

• Segmentation by Service Type
  • Emergency Care
  • Day Time Coverage
  • Second Opinion
  • Sub-specialty Reading
• Segmentation by Modality Material
  • X-ray
  • Computerized Tomography (CT) Scan
  • Magnetic Resonance Imaging (MRI)
  • Ultrasound Scans
  • Nuclear Scan
• Segmentation by End User
  • Hospitals
  • Pet Clinics
  • Veterinary Radiology Centers

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Based on services type, the market has been segmented into emergency care, day time coverage, subspecialty reading, and second opinion. Day care and emergency care dominates the global veterinary teleradiology services market and is expected to do so throughout the forecast period. This service type segment is anticipated to expand with the fastest CAGR over the forecast period.

Based on modality type, the market is segmented into X-Ray Scans, CT Scans, MRI Scans, Ultrasound Scans, Nuclear Scan, and Others. In terms of revenue share, CT scans dominated the veterinary teleradiology Market owing to increase in CT scans in the region is projected to do so throughout the forecast period. However, MRI scans are projected to grow with high CAGR than other modalities over the forecast period.

Based on end user, the global veterinary teleradiology market has been segmented into hospitals, pet clinics and veterinary radiology centers. Hospitals are expected to contribute highest share in the global veterinary teleradiology market over the forecast period.

On the basis of regional presence, global veterinary teleradiology market is segmented into five key regions namely North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America is expected to lead the global market due to large number of pet adoption, increasing disease and accidental cases in pet animals, and growing expenditure on animal healthcare, while Europe is expected to hold second largest market share in the global market. Market in Asia-Pacific region is expected to witness significant growth rate over the forecast period owing to growing trend of pet adoption and increasing focus on teleradiology services.

Some of the players operating in global veterinary teleradiology market are VetCT, Veterinary Imaging Consultations, Inc., Lynks Group, Animal Imaging Consultants, Vet-Rad LTD, Veterinary Medical Centers, and PetRays among others.

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Source MARKITWIRED