The global Veterinary Imaging Market by Equipment, as per the reports of Market Research Future (MRFR), can eye for an impressive CAGR of 7.14% over the review period (2016-2025). The time-span can also witness a surpassing of the predicted market valuation of USD 1800 million by the global veterinary imaging market. Veterinary imaging is the technology that provides a detailed report about diseases that pets or animals have. The global veterinary imaging market is all geared to profit much from advanced technologies that the market titans are launching.
Factors that can trigger market growth are cost-effective procedures, rising instances of pets getting covered by insurance policies, increasing disposable income, and surge in the ownership of pets across the world. Intensive animal farming can also impact the veterinary imaging market in the coming years.
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By type, the global veterinary imaging market has been segmented into veterinary imaging instruments, veterinary imaging reagents, and veterinary imaging software.
By product type, the market for veterinary imaging is segmented into large animals, small companion animals, and others.
By therapeutic area, the global veterinary imaging market has been segmented into orthopedics and traumatology, cardiology, neurology, and, oncology.
By end-user, the market for veterinary imaging market is segmented into hospitals & clinics, and, academic institutes.
Europe, Asia Pacific (APAC), the Americas, and the Middle East & Africa (MEA) are region considered during the compilation of the global veterinary imaging market report.
The Americas accounted for the largest market share in 2018. It is predicted to exhibit 7.62% CAGR during the forecast period due to rise in pet ownership rates, demand for pet insurance, increase in veterinary expenditure. This is supported by statistics by the American Pet Products Association which stated nearly 68% of pet owners in the U.S. accounting for a pet in their household.
Europe is the second biggest region due to presence of veterinary clinics, advanced diagnostic procedures, and rise in pet ownership. On the other hand, the APAC region is driven by rise of nuclear families, large expendable income levels, and adoption of pets.
The MEA market can face a sluggish growth rate during the forecast period due to low production rate of purebreds and low investments by the pet care sector.
MRFR includes several companies that would influence the veterinary imaging market in the coming years. They are Hallmarq Veterinary Imaging Ltd, Esaote SpA, Diagnostic Imaging System, Inc, Heska Corporation, General Electric Canon Inc., Merry X-Ray, Medical Imaging / IMCO, Inc, Fujifilm Holding Corporation, Carestream Health, BCF Technology Ltd, and Idexx Laboratories Inc.
In 2019, Sound, a global leader in providing veterinary imaging solutions, teamed up with Canon for their digital radiography detectors and medical SDK. The result is a software, that would provide a seamless, robust, veterinary-specific digital radiography system.
List Of Tables
TABLE 1 MARKET SYNOPSIS 17
TABLE 2 LIST OF ASSUMPTIONS 19
TABLE 3 GLOBAL VETERINARY IMAGING MARKET BY PRODUCT TYPE, 2020-2027 (USD MILLION) 35
TABLE 4 GLOBAL VETERINARY IMAGING INSTRUMENTS MARKET BY REGION, 2020-2027 (USD MILLION) 36
TABLE 5 GLOBAL VETERINARY IMAGING INSTRUMENTS MARKET BY TYPE, 2020-2027 (USD MILLION) 36
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