Veterinary Imaging Systems Market with Trends, Opportunities and Competition Tracking till 2022

Recently, a novel report developed using proven research methodologies at the headquarters of Fact. MR has identified various prominent factors and trends prompting market growth of Veterinary Imaging Systems market. The study is titled as “Veterinary Imaging Systems Market Forecast, Trend Analysis & Competition Tracking: Global Review 2017 to 2022”, which deeply analyses the global market trends, with historical data from 2016 and 2017, and projections of compound annual growth rates (CAGRs) during the mentioned forecast of 2017-2022. For the benefit of the readers, the report concludes with a special focus on the detailed profiles of the major vendors in the global veterinary imaging systems market.

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According to a recently published research by Fact.MR, the global veterinary imaging systems market is projected to expand at an impressive CAGR during the forecast period 2017 to 2022. Sales of veterinary imaging systems will account for over US$ 2,000 Mn revenues by 2022-end.

Small Companion Animals to Remain a Lucrative Segment in the Market

By animal type, sales of veterinary imaging systems for diagnosis of small companion animals are expected to surpass revenues worth US$ 1,000 Mn by 2022-end. The adoption of companion animals is witnessing a significant rise, coupled with rising incidences of disease outbreaks in these animals. These factors are driving adoption of veterinary imaging systems for small companion animals.

North America is projected to remain the most lucrative market for veterinary imaging systems, with sales poised to reach nearly US$ 600 Mn in revenues by 2022-end. In addition, sales of veterinary imaging systems in North America, and Asia-Pacific excluding Japan (APEJ) are expected to register a parallel expansion at 7% CAGR through 2022. Growth of the market in North America is driven by the rise in purchasing power of people, coupled with increased awareness about tumors and cancers in companion animals. The market in APEJ, although untapped until the recent past, is expected to witness a considerable expansion, especially in India and China, where the concept of companion animals is gaining higher popularity.

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Veterinary Clinics to Remain Most Lucrative End-users of Veterinary Imaging Systems

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.

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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This release was published on openPR.