The market value of veterinary teleradiology is expected to reach
Acumen Research and Consulting, a global provider of market research research, in a recently published report titled “Veterinary Teleradiology Market – Global Industry Analysis, Market Size, Opportunities, and Forecast, 2020-2027”
LOS ANGELES, June 15, 2021 (GLOBE NEWSWIRE) – The Global Veterinary Teleradiology Market is expected to grow at a CAGR of approximately 6.5% from 2020 to 2027 and reach a market value of over US $ 437.6 million by 2027.
North America holds a reasonable share of the global veterinary teleradiology market and is expected to maintain this trend throughout the forecast period. This is due to advancements in technology, an increase in the number of pet owners, the number of pets in the United States and Canada, and increased healthcare spending on animal research. During the forecast period, these factors are also expected to boost the regional Veterinary Teleradiology market.
Asia-Pacific, on the other hand, is expected to have the fastest growing CAGR during the forecast period. The adoption of pets, the increased demand for veterinarians and radiologists, and the focus on the welfare of pets are expected to drive the Asia-Pacific market in the coming years. The presence of a large number of clinics and veterinary professionals in developed countries such as Japan is expected to boost the Asia-Pacific market.
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Technological advancements are driving growth in global veterinary teleradiology market
In the global veterinary teleradiology market, artificial intelligence and machine learning (ML) have become recurring trends. Embrace Pet Insurance promotes Vetology’s Veterinary Teleradiology and other innovative AI and ML-based products that help improve turnaround times and make the technology more accessible to radiologists and other healthcare users. value chain. AI-based teleradiology provides faster results, lower costs, and higher diagnostic accuracy. Companies in the veterinary teleradiology market are taking this opportunity to offer their AI products to experienced radiologists to accurately assess x-rays or radiographs.
Impact of COVID-19 on the veterinary teleradiology market
According to the HealthforAnimals research report, the results have shown that the Covid-19 pandemic is causing delayed or missed care for pets in many countries, leading some vets to fear that the health of pets could be affected. suffer in this scenario. In addition, since the start of the Covid-19 pandemic, more than a quarter of pet owners (27%) have delayed or avoided contacting their veterinary practice. According to 65% of pet owners, the pandemic has not made it more difficult to obtain medication, nor has it required the use of a medication different from what their pet is used to. Less than 5% of pet owners said their veterinarian and / or pharmacist did not have their pet’s medications on hand.
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However, vets are working to combat this by implementing strict Covid-19 safety precautions in their clinics and dramatically expanding their clients’ access to telemedicine. Pet owners are responding favorably to these changes, with three in four pet owners who have had a digital or remote consultation with their vet stating that they were satisfied or extremely satisfied with the service. Almost half (47%) of pet owners said their vet offers digital / remote consultations, up from 20% before the pandemic.
The global veterinary teleradiology market is segmented on the basis of service type, animal type, modality, and end user. By type of service, the market is segmented into emergency care, day coverage, second opinion, and subspecialty reading. Based on the type of animal, the market is divided into pets and livestock. By modality, the market is segregated into X-ray, Computed Tomography (CT), Magnetic Resonance Imaging, Ultrasound, and Nuclear Scintigraphy. Further, by end user, the market is segmented into veterinary hospitals, veterinary clinics, veterinary radiology centers, and others.
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The major players involved in the veterinary teleradiology market include Veterinary Imaging Consultations, VetRad, VetCT, Lynks Group, BluePearl Veterinary Partners, VEDIM, VICSD Teleradiology Group, and among others.
Some of the major observations regarding the Veterinary Teleradiology market include:
- In November 2016, Rayence announced the acquisition of Osko Digital radiography solutions. Acquisition will enhance the Company’s total imaging solutions business portfolio in the United States
- In September 2016, Merry X-ray announced its acquisition with Schiring Radiographic Imaging. The acquisition is carried out with the aim of becoming the largest supplier of sales and services in the medical and veterinary teleradiology market.
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