Veterinary Teleradiology Market Report
The Global Veterinary Teleradiology Market report is segmented by Service Type (Emergency Care, Day Time Coverage, Second Opinion, Sub-specialty Reading), By Modality (X-ray, Computerized Tomography (CT) Scan, Magnetic Resonance Imaging (MRI), Ultrasound Scans, Nuclear Scan), By Application (Hospitals, Pet Clinics, Veterinary Radiology Centers), and Region. It also covers the COVID-19 Impact Analysis and Forecast to 2026. This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global Veterinary Teleradiology market. The historic years considered for the study are 2016-2019, the base year is 2020, the estimated year is 2021, and the forecast period is 2022-2026.
The Global Veterinary Teleradiology Market report is segmented by Service Type (Emergency Care, Day Time Coverage, Second Opinion, Sub-specialty Reading), By Modality (X-ray, Computerized Tomography (CT) Scan, Magnetic Resonance Imaging (MRI), Ultrasound Scans, Nuclear Scan), By Application...
Impact of COVID-19 on Veterinary Teleradiology Market
Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
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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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 operating in the global Veterinary Teleradiology market are-
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.
Based on application, the market has been divided into hospitals, pet clinics and veterinary radiology centres.
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.
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.
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Here is the list of the group of customers that the Global Veterinary Teleradiology market hopes to have the greatest opportunity to convert-
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The veterinary teleradiology market size is expected to reach USD 280.3 million in the foreseeable future.
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) are among the key players in the veterinary teleradiology market.
The veterinary teleradiology market is expected to witness an impressive growth of 4.6% CAGR in the coming years.
North America accounted for the largest share of veterinary teleradiology market in 2020.
The hospital segment accounted for the largest share of veterinary teleradiology market in 2020.
Increased demand for veterinary diagnostics, rise in the number of veterinary radiologists with improved internet connectivity, technological advancements, availability of software, and rapidly growing pet industry, the integration of artificial intelligence and virtual & augmented reality in disease diagnosis are the factors driving the growth of veterinary teleradiology market.
Veterinary teleradiology distributors, Veterinary teleradiology suppliers, Veterinary teleradiology manufacturers, Logistics organizations, Government Bodies are the target audience in the veterinary teleradiology market.