Veterinary Imaging Market worth $1.94 Billion by 2022
The report “Veterinary Imaging Market by Product (Ultrasound, Radiography, MRI, Video Endoscopy), Therapeutic Area (Oncology, Cardiology, Neurology, Orthopedic), Animal (Small Companion Animals, Large Animals), End User (Hospital, Clinic) – Global Forecast to 2022″, analyses and studies the major market drivers, restraints, and opportunities in North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa.
Browse 292 market data tables and 63 figures spread through 279 pages and in-depth TOC on “Veterinary Imaging Market by Product (Ultrasound, Radiography, MRI, Video Endoscopy), Therapeutic Area (Oncology, Cardiology, Neurology, Orthopedic), Animal (Small Companion Animals, Large Animals), End User (Hospital, Clinic) – Global Forecast to 2022”
Early buyers will receive 10% customization on reports.
The veterinary imaging market is expected to reach USD 1.94 Billion by 2022 from an estimated USD 1.40 Billion in 2017, at a CAGR of 6.8%. The growth of the market during the forecast period is mainly driven by the increase in animal healthcare spending, growing pet insurance purchase, the growing companion animals market, increase in the number of veterinary practitioners and their income levels in developed regions, and launch of portable battery charge imaging instruments. However, the high cost of veterinary imaging instruments and increasing pet care expenditure are expected to restrain the overall market growth, to a certain extent, during the forecast period.
In this report, the global veterinary imaging market is segmented by product, therapeutic area, animal, end user, and region. On the basis of product, the global veterinary imaging market is segmented into instruments, reagents, and software. The veterinary imaging instruments segment includes radiography systems, ultrasound imaging systems, magnetic resonance imaging (MRI) systems, computed tomography (CT) imaging systems, video endoscopy imaging systems, and other imaging systems (including thermal imaging systems and optical coherent tomography). The radiography systems segment accounted for the largest share of the global veterinary imaging instruments market in 2016. The large share of this segment can be attributed to various factors such as the consistent high quality of images provided by X-ray imaging, cost-effective technology, and the increasing preference for this technology by veterinarians.
On the basis of therapeutic area, the global veterinary imaging market is segmented into orthopedics & traumatology, oncology, cardiology, neurology, and other therapeutic areas. The orthopedics & traumatology segment accounted for the largest share of the global veterinary imaging market in 2016. The large share of this segment can be attributed to the increasing incidence of bone injuries and rising prevalence of arthritis and lameness disease in animals. Oncology application segment offers significant growth opportunities in the market. The growing research on the development of cancer drugs and increasing incidence of cancer in small and large animals are driving the growth of this segment.
Based on animal type, the global veterinary imaging market is segmented into small companion animals, large animals, and other animals. The small companion animals segment accounted for the largest share of the market in 2016. The large share and growth of this segment are attributed to the increasing adoption of companion animals, rising animal healthcare expenditure, growing demand for pet insurance in developed countries, and increasing incidence of disease outbreaks in companion animals.
The global veterinary imaging market, by end user, is segmented into clinics and hospitals & academic institutions. Clinics are the major end users in the veterinary imaging market and accounted for a share in 2016. The large share and growth of this segment are primarily attributed to the growing number of veterinary practices and veterinarians.
North America represented the largest veterinary imaging market in 2016, followed by Europe and Asia-Pacific. The Asia-Pacific market is expected to register the highest CAGR during the forecast period. Factors such as large increasing awareness about animal health in APAC countries, growth in pet adoption, and growing per capita animal health expenditure, especially in India and China, are contributing to the growth of the APAC veterinary imaging market.
The major players in the global veterinary imaging market are GE Healthcare (U.S.), Agfa- Gevaert N.V. (Belgium), Excelsior Union Limited (Russia), Onex Corporation (Canada), Esaote S.p.A (Italy), Canon Inc. (Japan), IDEXX Laboratories, Inc. (U.S.), VCA Inc. (U.S.), Hitachi, Ltd (Japan), BCF Technology, Ltd. (U.K.), Siemens AG (Germany), Diagnostic Imaging Systems, Inc. (U.S.), Hallmarq Veterinary Imaging Ltd. (U.K.), MinXray, Inc. (U.S.), and Fujifilm Holdings Corporation (Japan).
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “RT” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Sanjay Gupta
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India