Veterinary Imaging Market – Summary:
The Global Veterinary Imaging Market was valued at USD 1.24 Bn in 2017 and is projected to reach an estimated evaluation of USD 1.85 Bn by the end of 2023 while observing a consistently average CAGR of 6.90% during the forecast period of 2017 to 2023. The globally changing attitude toward animal welfare and the increasing incidences of zoonotic diseases have prompted growth for the global market.
This MRFR market perspective examines the historical trends and current scenario of the global veterinary imaging market to deliver a highly pertinent growth forecast. The primary objective of the report is to deliver actionable insights, market facts and relevant data that will allow report users to make informed decisions and device growth strategies.
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The report includes key trends, drivers and restraints that are likely to influence the market over the next five years. All the crucial parameters were considered before determining the market size. A section of the report thoroughly discuses all the market segments based on which the overall market value was estimated.
In this report, the global veterinary imaging market has been segmented on the basis of product type, by animal type, therapeutic area and end-user. By product type, a market revenue assessment has been made on veterinary imaging instruments, veterinary imaging reagents, and veterinary imaging software. Based on product type, the market segments discussed in the report include large animals, small companion animals, and others.
Major therapeutics areas that were considered include cardiology, oncology, orthopedics & traumatology, neurology, and others. Hospitals & clinics and academic institutes were identified as the prominent end-users of veterinary imaging. All the segments that are mentioned above are profiled under four major geographies– North America, Europe, Asia Pacific, South America and the Middle East & Africa (MEA), with the respective country-level market sizes. This will assist report users in identifying the segments that are highly lucrative and implement growth strategies for the future.
Veterinary Imaging Market – Segments
The global veterinary imaging market has been segmented on the basis of product type, animal type, therapeutic area, end-user, and region. By product, the market has been segmented into instruments, veterinary imaging reagents, and veterinary software. The instruments segment is the most significant segment due to its cost-effectiveness and accuracy in diagnosis. Among the various sub-segments that have been included under the instruments segment, the radiography segment is expected to account for the largest share. The fastest growing segment, however, is veterinary software which allows for efficient client & animal management and integration with various forms of medical imaging devices.
By animal type, the market has been segmented into small companion animals, large animals, and others. Due to the increasing adoption of animals as pets, the most significant segment belongs to the small companion animal segment. Pet owners have become more conscientious regarding pet health and are quick to consult veterinarians in hopes of high-quality health care for their companion animals.
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By therapeutic area, Veterinary Imaging Market has been segmented into orthopedics & traumatology, cardiology, neurology, oncology and others. The orthopedics & traumatology segment accounts for the largest market share due to the increasing incidences of bone injuries and prevalence of arthritis and other joint diseases in animals. The cardiology segment accounts for the second largest market segment due to the rising occurrences of cardiac conditions afflicting animals.
By end-user, the market has been segmented into hospitals & clinics, academic institutes, and others. The hospitals and clinics segment accounted for the largest segment of the global veterinary imaging market due to their extensive use of imaging modalities for diagnostics. Meanwhile, the fastest growing segment belongs to academic research institutes which have facilitated growth for the market due to continuous development and innovation of existing imaging technology.
Fujifilm Holding Corporation
Led by North America, The Americas have the largest share of the global market. The region is witnessing a rising demand for pet insurance as pet owners are becoming more invested in their pets’ health. The rapid adoption of innovative technology offerings in the region is responsible for its leading position in the veterinary imaging market. Europe, with its inclusion of developed countries such as Germany, France, and the U.K. accounts for the second largest market share due to the presence of prominent market players and supportive government initiatives toward pet insurance and pet healthcare.
The Asia-Pacific is set to grow at the most rapid pace with countries such as Japan, China, and India taking the lead. The growing prevalence of nuclear families with a tendency toward pet adoption and increasing investments in pet care have prompted international players to establish their presence in these countries in an effort to tap the potential this region carries.
Major TOC of Veterinary Imaging Market Research Report- Forecast to 2023:
1 Report Prologue
2 Executive Summary
3 Market Introduction
4 Research Methodology
5 Market Dynamics
6 Market Factor Analysis
7 Global Veterinary Imaging Market, by Product Type
8 Global Veterinary Imaging Market, by Animal Type
9 Global Veterinary imaging Market, by Therapeutic Area
10 Global Veterinary Imaging Market, by End-User
11 Global Veterinary imaging Market, by Region
12 Competitive Landscape
13 Company Profiles
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