Veterinary Teleradiology Market to Reach US$ 607.59 Mn by 2031, Integration of Cloud and AI Technologies in Veterinary Teleradiology Services to Stir Growth, Notes TMR

- Veterinary teleradiology firms are concentrating on building computer software that employs artificial intelligence to interpret X-rays and deliver results within few minutes

- Use accessibility to veterinary teleradiology services is expected to be simplified and expand due to the development of mobile apps, such as TeleVet

News provided by

Transparency Market Research

Nov 17, 2021, 07:30 ET

ALBANY, N.Y., Nov. 17, 2021 /PRNewswire/ -- Transparency Market Research: The global veterinary teleradiology market is projected to grow at a high growth rate during the forecast period, from 2021 to 2031. The market is expected to reach the valuation of US$ 607.59 Mn by 2031. Veterinary teleradiology is a relatively new clinical technique in the field of animal health that allows radiologists to evaluate and study medical images in order to provide improved treatment and diagnosis. The veterinary teleradiology market is expected to grow considerably over the next few years to come due to expansion of the pet animal sector expands, technical breakthroughs, and rise in the number of veterinarian radiologists.

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When the Food and Drug Administration (FDA) stated that veterinarians can utilize telemedicine to treat animals during the COVID-19 pandemic, it created new income potential for companies in the global veterinary teleradiology market. Considering that the livestock and pet owners are more worried than ever about animal health and wellbeing during the pandemic, pet and livestock owners can now consult vets over the phone or via video chat due to telemedicine.

Veterinary teleradiology service providers played a critical role in reducing anxiety among pet owners during the COVID-19 epidemic by controlling and minimizing acute and general health complaints in animals. Hence, the outbreak of COVID-19 has played an important role in supporting the growth of the global veterinary teleradiology market.

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Key Findings of Market Report

Integration of Emerging Technologies in Veterinary Teleradiology to Improve Patient Outcome

With the advent of virtual reality and augmented reality (VR and AR) and artificial intelligence (AI), there has been a change in the way doctors practice medicine. These new technologies have also transformed veterinary care. AI plays an extensive and important role in the medical sector today. This technology is being implemented in image interpretation, drug discovery, illness diagnosis, robotic surgery, and patient monitoring, as per the American Veterinary Medical Association. As such, both IBM and Google have made huge investments in the AI healthcare business, which is expected to grow to US$ 150 Bn over the next 10 years. AI is also being used in veterinary care sector, notably in the domains of diagnosis, triage, and teleradiology. Pet owners are also using AI-based software to connect with vets. Given the use of AI solutions, the veterinary sector is evolving at a rapid pace. Not only this technology has made animal healthcare much better, but it has also made veterinary practices a lot easier, which is likely to work in favor of the global veterinary teleradiology market.

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Development of Mobile Applications Offering Veterinary Teleradiology Services to Gather Steam

In the field of veterinary care, telemedicine is now becoming exceedingly prevalent. Veterinary teleradiology services are an excellent approach for managing animal health issues that do not necessitate a trip to local veterinarians. Mobile applications such as TeleVet allow users to explore if a veterinarian is in-network and determine appropriate rates for treatments or diagnoses has gained immense popularity. Following the success of such apps, firms in the veterinary teleradiology industry are expected to uncover new prospects by developing mobile applications. However, there is an increasing desire for clinically recognized AI to be integrated into software and other radiological systems.

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Veterinary Teleradiology Market: Growth Drivers

Teleradiology services delivered through the cloud technology are cost-effective and provide hassle-free access to patient information, which is likely to encourage growth of the global veterinary teleradiology market
Following the FDA's approval of tele-triage, telemedicine and teleservices became increasingly popular in the U.S. after the outbreak of the COVID-19 disease. These services have also gained traction in other parts of the world due to the pandemic.

Veterinary Teleradiology Market: Key Competitors

Some of the key market players are

BluePearl Veterinary Partners
Veterinary Imaging Consultations, Inc.
VICSD Teleradiology Group
Lynks Group plc.
VetRad
VetCT

Veterinary Teleradiology Market: Segmentation

Service Type

Emergency Care
Day Time Coverage
Second Opinion
Sub-specialty Reading

Animal Type

Companion Animals
Livestock Animals

Modality

X-ray
Computed Tomography [CT] Scan
Magnetic Resonance Imaging [MRI]
Ultrasound Scan
Nuclear Scan

End User

Veterinary Hospitals
Veterinary Clinics
Veterinary Radiology Centers

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