Global Veterinary Imaging Market by Manufacturers, Regions, Type and Application, Forecast to 2028


Posted August 11, 2020 by KarthikPilla

The global veterinary imaging market is expected to display a positive market trend over the forecast period of 2019-2028, exhibiting a CAGR of 5.80%.

 
Bharat Book Bureau Provides the Trending Market Research Report on "Global Veterinary Imaging Market 2019-2028" under Medical Imaging category. The report offers a collection of superior market research, market analysis, competitive intelligence and industry reports.

MARKET OUTLOOK

- According to Triton, the global veterinary imaging market is expected to display a positive market trend over the forecast period of 2019-2028, exhibiting a CAGR of 5.80%.
- The rising adoption of pet animals is the primary driving force behind the growth of this market. Further, the growing R&D in veterinary imaging systems and the growth in spending on animal healthcare are further aiding this growth. Besides, there is a huge demand for advanced technologies like veterinary imaging in the emerging markets of developing nations and animal diseases are also becoming highly prevalent. These factors are creating major opportunities for market growth.
- However, the exorbitant costs of imaging devices and the scarcity of skilled personnel are acting as factors hindering the growth of the market for veterinary imaging. In addition, the lack of awareness of animal health and their proper care, along with the high costs of pet care, is creating challenges in the path of market growth.

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REGIONAL OUTLOOK

- The global market for veterinary imaging spans across North America, Latin America, the Middle East and Africa, Europe, and the Asia-Pacific.
- Geographically, North America leads the global market, and captured the largest market share in 2019. The key driving factors responsible for the business growth in the region are increased pet ownership and the growing disposable incomes. According to the National Pet Owners Survey for 2017-2018 conducted by the APPA, 68% of US households (approx. 85 million people) own a pet. This is a major surge of 56% in the thirty-year period from 1988 to 2018. Moreover, the atmosphere has experienced a significant change. Companion animals play a vital role in enhancing one’s quality of life; they are known to have a positive effect on human health and thereby improve their physical well-being.

COMPETITIVE OUTLOOK

- The notable players in the veterinary imaging market are Diagnostic Imaging Systems, Agfa-Gevaert Group, Carestream Health, Siemens Healthcare GmbH, Shenzhen Mindray Bio-Medical Electronics Co Ltd, Minxray Inc, VetZ GmbH, Sound Technologies, IMV Imaging, Hallmarq Veterinary Imaging, Fujifilm Sonosite Inc, Heska Corporation, General Electric, Esaote SPA, and Idexx Laboratories Inc.
- Idexx Laboratories Inc develops and distributes products and services for companion animal veterinary, livestock & poultry, and dairy & water testing markets. The company operates via segments like water, livestock, poultry, & dairy (LPD); companion animal group (CAG); and others. It offers small animal diagnostics, water quality, livestock, poultry & dairy, practice management, reference laboratories, and research & human health. It is a multinational company, distributing its products in more than 175 countries around the world.

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Last Updated August 11, 2020