The global veterinary teleradiology market is expected to grow at a CAGR of around 6.5% from 2020 to 2027 and expected to reach the market value of around US$ 437.6 Mn by 2027.
Veterinary teleradiology is a new clinical practice in animal health that allows radiologists to interpret and analyze medical images in order to provide more accurate diagnosis and treatment. Hospitals, pet clinics, and veterinary radiology centers all use this market. Teleradiology enables radiologists to use advanced teleradiology solutions to improve patient care and treatment while minimizing treatment delays. The concept of teleradiology arose as a result of a scarcity of radiologists, who are typically concentrated in urban areas. Teleradiology markets enable trained specialists to provide interpretation and guidance around the world 24 hours a day, seven days a week.
Artificial intelligence: The future of veterinary teleradiology market
The veterinary radiologist shortage is a global issue that affects general practice managers, specialty and emergency hospitals, as well as teleradiology practices. According to a 2018 study, by the end of 2022, 66% of the North American veterinary teleradiology caseload will not be met, potentially leading to life-threatening outcomes for our pets. Unfortunately, there is no end in sight to the veterinary radiologist shortage, as veterinary radiology training program continue to lose radiologists due to the overwhelming teleradiology demand. To address this, a number of companies recognized the implications early on and decided to use the power of AI technology to automatically evaluate and report on radiographic images. In 2017, for example, Vetology created and released image matching software. The techniques were initially used internally to assist radiologists in becoming more efficient and meeting demand. In 2018, the radiology capabilities of Vetology AI were expanded further, and Vetology AI was the first to market with an augmented interpretation of radiographs using artificial intelligence and machine learning. AI has an impact on almost every aspect of life, enhancing strong understanding of complex issues and increasing the likelihood of better outcomes. AI is being used in the human healthcare industry for image interpretation, disease diagnosis, patient monitoring, drug development, and even robotic surgery. For the record, Google and IBM have made significant investments in the AI healthcare sector, which is expected to reach US$150 Bn over the next decade, according to statistics released by the American Veterinary Medical Association.
Big calls for "Small-animal PET": What is it and why do we need it?
Small-animal PET is the imaging of animals like rats and mice with a small, high-resolution PET scanner designed specifically for this purpose. In comparison to a human PET scanner, a small-animal PET scanner is used for subjects that are typically 2 to 3 orders of magnitude lighter and smaller in volume. Small animal structures necessitate the use of a scanner with high spatial resolution, ideally at the submillimeter level, in order to identify critical organs or target areas. The importance of animal model–based research drives the demand for small-animal PET. A wide range of human diseases are transmitted by mice and rats. The collection of scientific data from these animal studies is critical to medical research. For example, before a new drug is tested on humans, extensive data from animal studies must be available on topics such as dose, bio distribution of the drug, route of administration and excretion, effectiveness for a clinical indication, and toxicity. Preclinical data from animal studies like these must be submitted to the Food and Drug Administration as part of an Investigational New Drug Application, the regulatory step required before moving on to human clinical studies. Prior to the development of small-animal PET, such preclinical data could only be obtained by sacrificing and dissecting a large number of animals' tissues. Small-animal PET has been used to study a wide range of biological processes, including oncology, cardiology, and neurology.
The global veterinary teleradiology market is segmented based on service type, animal type, modality, and end-user. By service type, the market is segmented as emergency care, day time coverage, second opinion, and sub-specialty reading. Based on animal type, the market is bifurcated into companion animals and livestock animals. By modality, the market is segregated as X-ray, computed tomography (CT) scan, magnetic resonance imaging, ultrasound scan, and nuclear scan. Furthermore, by end-user the market is segmented as veterinary hospitals, veterinary clinics, veterinary radiology centers, and others
Day care and emergency care segment under service type dominate the global veterinary teleradiology market and are expected to continue in this trend throughout the forecast period. CT scans have dominated the veterinary teleradiology market by modality in the past and are expected to continue in the future. Furthermore, based on end-user, hospitals have held a dominant share in the past and will continue to do so in the forecast period.
North America dominates the veterinary teleradiology market, Asia Pacific will record fastest growing CAGR in the forecast period
The veterinary teleradiology market is expected to be dominated by North America. This is due to an increase in pet adoption, an increase in disease and accidental cases in pet animals, and an increase in animal healthcare expenditure. In the US, fall of pets are the leading cause of nonfatal injuries. According to the Centers for Disease Control and Prevention (CDC), cats and dogs were responsible for an estimated 86,629 fall injuries each year, for an annual injury rate of 29.7 per 100,000 populations. Dogs were responsible for nearly 88% of injuries, and females were 2.1 times more likely to be injured than males. Additionally, among falls involving dogs, 61.6% occurred in or around the home and 16.4% in the street or other public place. A location was not specified for 20.3% of cases. Furthermore, 26% percent of falls involving dogs occurred while persons were walking them, and the most frequent circumstances were falling or tripping over a dog 31.3% and being pushed or pulled by a dog 21.2%.
On the other hand, Asia Pacific is expected to have the fastest growing CAGR in the veterinary teleradiology market in the coming years. This is due to the increasing popularity of pet adoption and the increased emphasis on teleradiology services.
The prominent players of the global veterinary teleradiology market involve Veterinary Imaging Consultations, VetRad, VetCT, Lynks Group, BluePearl Veterinary Partners, VEDIM, VICSD Teleradiology Group, and among others
Market By Service Type
Day Time Coverage
Market By Animal Type
Market By Modality
Computed Tomography (CT) Scan
Magnetic Resonance Imaging
Market By End-User
Veterinary Radiology Centers
Veterinary teleradiology market is expected to reach a market value of around US$ 437.6 Mn by 2027.
The veterinary teleradiology market is expected to grow at a CAGR of around 6.5% from 2020 to 2027.
Based on modality, computed tomography (CT) scan segment is the leading segment in the overall market.
Technological advancement is one of the prominent factors that drive the demand for veterinary teleradiology market.
Veterinary Imaging Consultations, VetRad, VetCT, Lynks Group, BluePearl Veterinary Partners, VEDIM, VICSD Teleradiology Group, and among others.
North America is anticipated to grab the highest market share in the regional market
Asia Pacific is expected to be the fastest growing market in the forthcoming years