Veterinary Imaging Systems Market Volume Analysis, Segments, Value Share and Key Trends 2017 to 2022
August 14, 2019 by Steve Blade
The report moots a comprehensive analysis on the market for veterinary imaging systems for the assessment period 2018-2026. The report also delves into the dynamics surrounding the veterinary imaging systems which significantly influence the growth of the market.Veterinary imaging has had the challenge and privilege that go in tandem with continued development of present and novel imaging modalities and technologies. Although an array of imaging technologies can be found, most of them are based either on electromagnetic waves or sound.
The omnipresence of ultrasound and pervasiveness of magnetic resonance imaging and computed tomography are advancements which remained unanticipated a few decades ago. Such advancements in technology have had an overwhelming influence on veterinary imaging.
Fact.MR’s report projects the global market for veterinary imaging to exhibit an above-average CAGR throughout the forecast period 2017 to 2022. Revenues from global sales of veterinary imaging systems are expected to exceed US$ 2,000 Mn by 2022-end.
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Table of Content
1. Global Veterinary Imaging Systems Market - Executive Summary
2. Global Veterinary Imaging Systems Market Overview
3. Global Veterinary Imaging Systems Market Analysis and Forecast By Product Type
To be Continue...............
Veterinary imaging is well placed vis-à-vis medical imaging as far as regulations are concerned. Machine learning algorithms need access to huge amounts of classified data, while this is technically feasible; it could bring distress for medico-legal reasons.
Sales of MRI Systems to Register the Highest CAGR through 2022
X-ray systems will remain the top-selling product in the global veterinary imaging systems market. Revenues from X-ray systems will account for over one-third share of the market during 2017 to 2022. Dominance of x-ray systems is mainly attributed to their provision of consistent high-quality images, and rise in shifts of preference toward this technology by veterinarians. However, sales of MRI systems will register the highest CAGR in the market through 2022, based on product type.
Spending on pet purchases, veterinary services and medical services have been following human health-care spending in the U.S., according to the annual data from the Bureau of Labor Statistics’ Consumer Expenditure Survey. Changing perception with respect to animals which has led to the transition of the pet to a near fully-fledged family member and advancement in veterinary technology have positive influence in the veterinary imaging systems market. Owning a pet has been linked with stress reduction, heart disease prevention and lessening blood pressure.
Veterinary clinics are poised to remain the most lucrative end-users of the veterinary imaging systems. Revenues from veterinary clinics will hold over two-third share of the market over the forecast period. Factors contributing to growth of veterinary clinics segment are rising number of veterinarians, as well as veterinary practices worldwide. Based on end-users, hospitals are estimated to register the fastest expansion in the global veterinary imaging systems market through 2022.
North America is expected to remain the largest market for veterinary imaging systems. Sales of veterinary imaging systems in this region will reach roughly US$ 600 Mn in revenues by the end of forecast period. Dominance of North America in the market is mainly attributed to soaring disposable income of the population, along with the surge in awareness about cancers and tumors associated with companion animals. The veterinary imaging systems markets in Asia-Pacific excluding Japan (APEJ), and North America are projected to expand at similar CAGRs through 2022. Although the market in APEJ was untapped until recently, it is estimated to exhibit a significant growth, especially in the region’s developing countries including China and India, wherein the concept of concept of pets is witnessing a rise in popularity.
Veterinary Imaging Systems: Competitive Landscape
Key players identified in the global market for veterinary imaging systems are Hitachi Aloka Medical Ltd., Esaote SpA, Canon U.S.A. Inc., FUJIFILM Holdings Corporation, Mindray Medical International Limited, Minxray Inc., Hallmarq Veterinary Imaging Ltd, IDEXX Laboratories, Inc., Agfa-Gevaert N.V., and General Electric Company.
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