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Global Veterinary Imaging Systems Market Analysis- Size, Share, Growth, Industry Demand, Forecast, Application Analysis through 2022
Fact.MR
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Veterinary imaging systems are being used for obtaining medical images of animals for diagnosis of chronic diseases. A non-invasive procedure, veterinary imaging has evolved with the aid of instruments related to diagnostic imaging. The animals that are considered for imaging include zoo animals, large animals, and small companion animals.
Animal healthcare spending has gained an uptick over the recent past, with increased number of veterinary practitioners, and significant rise in pet insurance purchases. Demand for veterinary imaging instruments is rising for taking proper care of pets such as dogs and cats, as these instruments help in detecting sinus/nasal diseases by differentiating neoplasia from rhinitis. This further helps in guiding biopsy test results. These instruments also offer increased sensitivity for detection of brain hemorrhage and skull fractures. Veterinary imaging systems have undergone various technical enhancements over the past few years. These systems allow visualization of several types of brain tumors, eliminating use of film jackets, film, dark room, and photo processing supplies, thereby reducing cost of diagnosis. In addition, the concept of insurance services for pet animals has been gaining prevalence, especially in developed regions such as North America and Europe. The aforementioned factors are expected to foster growth of global veterinary imaging systems market.
However, the sensitivity of veterinary imaging systems is comparatively lower than that of MRI systems when it comes to detecting vascular condition, inflammation, and tumors. Utilization of veterinary imaging systems involves high initial cost. Furthermore, these systems can be operated only by skilled professionals possessing knowledge about hardware and software related problems. These factor might hamper the market growth in the near future.
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.
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.
Veterinary clinics will continue to be the largest end-users of veterinary imaging systems in the global market, accounting for more than two-third market share during 2017 to 2022 in terms of revenues. The surge in number of veterinarians, and veterinary practices will contribute to growth of veterinary clinics as end-users of veterinary imaging systems. Sales of veterinary imaging systems in hospitals will register a slightly higher CAGR than sales in veterinary clinics through 2022.
Competition Tracking
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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Table of Content
1. Global Veterinary Imaging Systems Market - Executive Summary
2. Global Veterinary Imaging Systems Market Overview
2.1. Introduction
2.1.1. Global Veterinary Imaging Systems Market Taxonomy
2.1.2. Global Veterinary Imaging Systems Market Definition
2.2. Global Veterinary Imaging Systems Market Size (US$ Mn) and Forecast, 2012-2022
2.2.1. Global Veterinary Imaging Systems Market Y-o-Y Growth
2.3. Global Veterinary Imaging Systems Market Dynamics
2.4. Regulations
2.5. Supply Chain
2.6. Cost Structure
2.7. Average Pricing Analysis
2.8. List of Distributors
2.9. Key Participants Market Presence (Intensity Map) By Region
3. Global Veterinary Imaging Systems Market Analysis and Forecast By Product Type
3.1. Global Veterinary Imaging Systems Market Size and Forecast By Product Type, 2012-2022
3.1.1. Ultrasound Systems Veterinary Imaging Systems Market Size and Forecast, 2012-2022
3.1.1.1. Revenue (US$ Mn) Comparison, By Region
3.1.1.2. Market Share Comparison, By Region
3.1.1.3. Y-o-Y growth Comparison, By Region
3.1.2. MRI Veterinary Imaging Systems Market Size and Forecast, 2012-2022
3.1.2.1. Revenue (US$ Mn) Comparison, By Region
3.1.2.2. Market Share Comparison, By Region
3.1.2.3. Y-o-Y growth Comparison, By Region
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About Fact.MR
Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized Healthcare Market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.
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