Veterinary Teleradiology Market Report

Market Insights

The Global Veterinary Teleradiology Market is estimated to grow from USD 215.3 million in 2020 to USD 280.3 million by 2026 at a healthy CAGR of 4.6% during the forecast period.

Figure: Global Veterinary Teleradiology Market Size, 2020-2026 (USD Million)

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What is Veterinary teleradiology?

Veterinary teleradiology is defined as a clinical practice in which radiological reports generated through X-ray, computerized tomography (CT) scan, magnetic resonance imaging (MRI), ultrasound scans, or nuclear scan are transferred from one location to other to get the interpretation and consultation from different radiologist experts.

Key Players

Key players operating in the global Veterinary Teleradiology market are-

• VetCT (UK),
• Veterinary Imaging Consultations, Inc. (The U.S),
• Lynks Group (The U.S),
• Animal Imaging Consultants Inc (The U.S),
• Vet-Rad LTD (The U.S),
• Veterinary Medical Centers (India),
• PetRays (The U.S),
• IDEXX Laboratories, Inc. (The U.S),
• BluePearl Veterinary Partners (The U.S),
• VEDIM (UK), and
• VICSD Teleradiology Group (The U.S).

Market Dynamics

The growth of the global veterinary teleradiology market is primarily driven by increased demand for veterinary diagnostics. The rise in the number of veterinary radiologists with improved internet connectivity, technological advancements, availability of software, and rapidly growing pet industry is likely to propel the market growth at a substantial rate. Additionally, the integration of artificial intelligence and virtual & augmented reality in disease diagnosis, monitoring the health of the patients, and image interpretation are likely to create lucrative opportunities for the players operating in the global veterinary teleradiology market over the forecast period.

Segment Analysis

Application Trends

Based on application, the market has been divided into hospitals, pet clinics and veterinary radiology centres.

• The hospitals segment accounted for the largest share in 2020 owing to availability of different imaging modality such as X-ray, computerized tomography (CT) scan and magnetic resonance imaging (MRI).
• The veterinary radiology centres segment is expected to witness healthy growth during the review period.

Regional Trends

The market in North America accounted for the largest share in 2020 and is projected to continue its dominance during the review period owing to increasing pet adoption particularly in the US and high spending on the healthcare of pets. Increasing incidences of infectious disease among pets is likely to drive the growth of the veterinary teleradiology market to diagnose health issues. The market in the Asia-Pacific region is projected to register a healthy growth rate on account of rising awareness among consumers about pet ownership and pet health.

COVID-19 Impact on Global Veterinary Teleradiology Market

The covid-19 outbreak affected the growth of the veterinary teleradiology market negatively.

Due to a surge in covid-19 cases across geographies only essential services were allowed. People moved out of their houses only for essential services due to fear of coronavirus infection. Visit by the pet owners were either cancelled or postponed due to the spread of coronavirus and thus, affected the market growth negatively for a short period.

Critical Questions answered in the report-

• What are the key trends in the global veterinary teleradiology market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of COVID-19 on the global veterinary teleradiology market?
• What are the key strategies adopted by the major vendors to lead in the global veterinary teleradiology market?
• What is the market share of the top vendors?

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Target Audience

Here is the list of the group of customers that the Global Veterinary Teleradiology market hopes to have the greatest opportunity to convert-

• Veterinary teleradiology distributors
• Veterinary teleradiology suppliers
• Veterinary teleradiology manufacturers
• Logistics organizations
• Government Bodies

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