(PharmaNewsWire.Com, December 01, 2017 ) Market Outline: Veterinary Teleradiology Market
Veterinary teleradiology is a technology used for the interpretation and analysis of medical images by radiologists who are not present at the location where the images were generated. Veterinary teleradiology technique is most commonly used in pet clinics, veterinary radiology centres, and veterinary hospitals. Veterinary technology considered as an advanced solution for improving the animal health and treatment without any delay. The major applications with the teleradiology include tele-consultation, tele-monitoring, and tele-diagnosis which help the radiologists to perform their work more efficiently.
Market Dynamics: Veterinary Teleradiology Market
Increase in the companion and livestock population, rise in prevalence of animal diseases, increase in the number of veterinary practitioners, and increase in the animal welfare expenditure are anticipated to fuel the veterinary teleradiology market. Moreover, technological advancements veterinary teleradiology such as real-time data interpretation, favourable reimbursement policies are expected to propel the veterinary teleradiology market over the forecast period. However, high cost of teleradiology technology, complications in data storage, lack of skilled technicians and radiologists, and lack of awareness about veterinary teleradiology in developing and underdeveloped regions might restrain the veterinary teleradiology market over the forecast timeframe.
Veterinary teleradiology market is growing at a significant CAGR owing to the dearth of skilled radiology professionals in the underdeveloped regions. Several international companies are focusing on the R&D activities for the innovation of newer imaging technologies and quick data transformation, which are anticipated to fuel the veterinary teleradiology market. Moreover, development of IT infrastructure, upgrading of Picture Archiving and Communication Systems (PACS) and Radiology Information Systems (RIS) might boost the revenue of veterinary teleradiology market over the forecast period. In addition, acquisitions and mergers, collaborations, and technological advancements are key strategies followed by the companies for dominating the veterinary teleradiology market. For instance, in 2012, Idexx Laboratories acquired Shadowsmiths and VetRadiologist for strengthening its business segment in diagnostic information and telemedicine services in the veterinary healthcare industry.
Geographically, veterinary teleradiology market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America veterinary teleradiology market expected exhibit significant growth, owing to increase in the animal care expenditure, rise in pet animal adoption rate, and increase in the prevalence of various diseases. Europe veterinary teleradiology market driven by advanced IT infrastructure, increase in per capita income, and rise in pet welfare expenditure. Moreover, Asia Pacific veterinary teleradiology market growth attributed to rise in domestic animal and livestock population, rise in veterinary care expenditure in India and China, and lack of skilled radiologists in rural areas might bolster the veterinary teleradiology market in the region over the forecast period.
Some of the players in veterinary teleradiology market are Animal Imaging Consultants (U.S.), VetCT (U.K.), Lynks Group (U.S.), PetRays (U.S.), Vet-Rad LTD (U.S.), and IDEXX Laboratories, Inc. (U.S.) to name a few.
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