North America Veterinary Imaging Market Overview:
The North America Veterinary Imaging Market was estimated at USD 529.5 million in 2018 and It is expected to reach USD 906.7 million, increasing at a compound annual rate of 8.12% over the forecast period 2018-2025.
Veterinary diagnostics provide tools for effective and rapid testing to undertake preventative or remedial measures in the face of animal pandemics. For instance, lateral flow and other rapid tests are used in veterinary medicine to test commercial livestock (large animals – cows, poultry, sheep, pigs, etc.) and household pets (cats, dogs, etc.) to test for the presence of a variety of medical conditions caused by bacteria, viruses, allergies, and fertility issues.
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North America Veterinary Imaging Market – Drivers and Restraints:
In North America, the market for veterinary imaging is expected to grow at a moderate CAGR due to the increase in the number of foodborne diseases affecting the animals, and the need to perform various tests has increased gradually.
The growth of the market during the forecast period is mainly driven by the increase in animal healthcare spending, growing pet insurance purchase, and the growing adoption companion animals. Increase in the number of veterinary practitioners and their income levels in developed regions, and launch of portable battery charge imaging instrument, further supports the market boom.
Increase in purchase and usage of various diagnostic instruments that are utilized in veterinary practices, in-clinic diagnostic procedures and high-income households that keep pets and regular visit to pet laboratories are propelling the growth of this market. However, increasing adoption of vegetarian food due to changing food habits, the economic downturn, the increased risk of obesity and other diseases are some of the factors affecting the growth in North America.
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Geographical Insights of North America Veterinary Imaging Market:
North America described the extensive veterinary imaging market in 2018, followed by Europe and Asia-Pacific. Rise in pet adoption, and growing per capita animal health expenditure, are two significant drivers for this market. The high growth and share of this region can also be attributed to the growing number of veterinary practices and veterinarians.
North America is a developed region and consisting of the major economies like the USA and Canada, which offers profitable returns for the investors.
North America Veterinary Imaging Market categorized By Instrument Sector, By Application and By End-User.
Some of the Key Players covered in this North America Veterinary Imaging Market Report are:
The primary key players in North America Veterinary imaging market are Universal Medical Systems, GE Healthcare, Hallmarg Veterinary Imaging, IDEXX Laboratories, SUNI Mecial imaging, FUJIFILM Holdings, VetZ Limited, Esaote SpA, and others.
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