Over the years, the global veterinary imaging market has evolved from the use of diagnostic imaging instruments for human medicine to the development of specialized imaging modalities for veterinary applications. The increasing development of portable and battery-powered imaging instruments for point-of-care services, growing consolidation among veterinary practitioners, and the growing size of veterinary businesses in the veterinary imaging market are the leading trends in this market. The veterinary imaging market is expected to reach USD 2.3 billion by 2026 from an estimated USD 1.6 billion in 2021, at a CAGR of 7.0%. In this report, the veterinary imaging market is segmented based on product, animal type, therapeutic area, end user, and region.
The growth of the global veterinary imaging market during the forecast period is mainly driven by the increasing animal healthcare spending and growing pet insurance purchase, growing companion animals market, the increasing number of veterinary practitioners and their income levels in developed regions, and the increasing launch of advanced products.Emerging markets, such as India and China, and growing companion animal ownership in the APAC region are also factors expected to offer significant growth opportunities for players in the veterinary imaging market.
On the other hand, lack of animal healthcare awareness, a severe shortage of skilled veterinarians, and the high cost of imaging instruments in emerging countries are factors expected to restrain the overall market growth, to a certain extent, during the forecast period.
Based on product, the veterinary imaging instruments segment holds the largest share during the forecast period. Based on product, the veterinary imaging market is segmented into instruments, reagents, and software.In 2020, the instruments segment accounted for the largest share of the market.
The large share of this segment is attributed to the high cost of imaging instruments and the increasing adoption of imaging modalities for disease diagnosis in the treatment of companion animals and livestock.
Veterinary imaging instruments include radiography (X-ray) imaging systems, ultrasound imaging systems, computed tomography imaging systems, magnetic resonance imaging systems, video endoscopy imaging systems, and other imaging systems.
Based on the therapeutic area, the orthopedics & traumatology segment holds the highest growth during the forecast period. Based on the therapeutic area, the veterinary imaging market is categorized into orthopedics & traumatology, obstetrics and gynecology, oncology, cardiology, neurology, dentistry, and other therapeutic areas.In 2020, the orthopedics & traumatology segment accounted for the largest share of the market.
The large share of this segment can mainly be attributed to the increasing incidence of bone injuries and the rising prevalence of arthritis and lameness disease.
Based on animal type, the small companion animal segment holds the largest share during the forecast period Based on animal type, the veterinary imaging market is segmented into small companion animals, large animals, and other animals.The small companion animal segment accounted for the largest share of the market in 2020.
The large share of this segment is attributed to the increasing adoption of companion animals, rising animal healthcare expenditure, growing demand for pet insurance in developed countries, and the increasing incidence of disease outbreaks in companion animals.
Based on end user, the Veterinary clinics and diagnostic centers segment holds the largest share during the forecast period. Based on end users, the veterinary imaging market is segmented into veterinary clinics & diagnostic centers and veterinary hospitals & academic institutions.Veterinary clinics and diagnostic centers accounted for the largest share of the market in 2020.
The large share of this segment is attributed to the increasing number of veterinarians and the growing number of private clinical practices across the globe.
APAC is expected to grow at the highest growth rate in 2020 The Asia Pacific region is expected to register the highest CAGR during the forecast period. Growing pet adoption, increasing awareness about animal health, and growing per capita animal health expenditure, especially in India and China, are contributing to the growth of the APAC veterinary imaging market.
Key players in the veterinary imaging market The prominent players in the veterinary imaging market are GE Healthcare (US), Agfa-Gevaert N.V. (Belgium), Carestream Health (US), Esaote S.p.A (Italy), IDEXX Laboratories, Inc. (US), Mindray Medical International Limited (China), Canon Inc. (Japan), Heska Corporation (US), Siemens Healthineers (Germany), FUJIFILM Holdings Corporation (Japan), Konica Minolta Inc. (Japan), Samsung Electronics Co., Ltd. (South Korea), E.I. Medical Imaging (US), IMV imaging (UK), SEDECAL (Spain). Other players in the veterinary imaging market are Clarius Mobile Health (Canada), Shenzhen Ricso Technology Co. Ltd. (China), DRAMI?SKI S.A. (Poland), Epica Animal Health (US), and ClearVet Digital Radiography Systems (US), MinXray Inc. (US), Hallmarq Veterinary Imaging (UK), Shantou Institute of Ultrasonic Instruments Co., Ltd (China), Sonoscape Medical Corp. (China), and Reproscan (US).
Research Coverage: The report analyzes the veterinary imaging market and aims at estimating the market size and future growth potential of this market based on various segments such as product type, therapeutic area, animal type, end user and region.The report also includes a product portfolio matrix of various veterinary imaging products available in the market.
The report also provides a competitive analysis of the key players in this market, along with their company profiles, product offerings, and key market strategies.
Reasons to Buy the Report The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help them, garner a more significant share of the market. Firms purchasing the report could use one or any combination of the below-mentioned strategies to strengthen their position in the market.
This report provides insights into the following pointers: • Market Penetration: Comprehensive information on product portfolios offered by the top players in the global veterinary imaging market. The report analyzes this market by product type, therapeutic area, animal type, end user, and region • Product Enhancement/Innovation: Detailed insights on upcoming trends and product launches in the global veterinary imaging market • Market Development: Comprehensive information on the lucrative emerging markets by product type, therapeutic area, animal type, end user, and region • Market Diversification: Exhaustive information about new products or product enhancements, growing geographies, recent developments, and investments in the global veterinary imaging market • Competitive Assessment: In-depth assessment of market shares, growth strategies, product offerings, competitive leadership mapping, and capabilities of leading players in the global veterinary imaging market.
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936 pages •
By The Business Research Company
• Nov 2020
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