Press release
Veterinary Imaging Market is touted to reach USD 1800 million by 2023|Competirors Analysis- Canon Inc, BCF Technology, Ltd, Esaote SpA, Medical Imaging / IMCO, Inc, Diagnostic Imaging System, Inc and more
Pet healthcare is trending globally with the focus shifting towards improving veterinary capabilities on all fronts. Veterinary imaging remains one of the key focus areas as animal care providers, veterinaries and animal research institutes increase their efforts towards developing superior veterinary imaging technologies.The global veterinary imaging market was valued at USD 1247.61 Mn in 2017 and is expected to surpass a valuation of USD 1800 Mn by the end of 2023.
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The arrival of high-quality, dedicated imaging solutions that are meeting various animal care needs characterizes the growing interest of healthcare technology companies in the particular space. A number of reputable animal healthcare bands have stepped up their efforts in developing veterinary imaging systems that are not only efficient but also cost-effective. The global demand for such systems has witnessed a considerable uptick in recent years. A combination of factors such as increased pet care expenditure by owners, especially in advanced countries and intensive animal farming are also making a positive impact on the global veterinary imaging market.
In this report, the global veterinary imaging market has been segmented on the basis of product type, by animal type, therapeutic area and end-user. By product type, a market revenue assessment has been made on veterinary imaging instruments, veterinary imaging reagents, and veterinary imaging software. Based on product type, the market segments discussed in the report include large animals, small companion animals, and others. Major therapeutics areas that were considered include cardiology, oncology, orthopedics & traumatology, neurology, and others. hospitals & clinics and academic institutes were identified as the prominent end-users of veterinary imaging. All the segments that are mentioned above are profiled under four major geographies– North America, Europe, Asia Pacific, South America and the Middle East & Africa (MEA), with the respective country-level market sizes. This will assist report users in identifying the segments that are highly lucrative and implement growth strategies for the future.
Report Coverage
Value, Market Share, Player Analysis, value chain analysis, Porter's five forces model, demand & supply: gap analysis, investment opportunities analysis, pricing analysis, technological trends, country level break down for product type, animal type, therapeutic area, end-user.
Regional Analysis
Led by North America, The Americas have the largest share of the global market. The region is witnessing a rising demand for pet insurance as pet owners are becoming more invested in their pets’ health. The rapid adoption of innovative technology offerings in the region is responsible for its leading position in the veterinary imaging market. Europe, with its inclusion of developed countries such as Germany, France, and the U.K. accounts for the second largest market share due to the presence of prominent market players and supportive government initiatives toward pet insurance and pet healthcare.
The Asia-Pacific is set to grow at the most rapid pace with countries such as Japan, China, and India taking the lead. The growing prevalence of nuclear families with a tendency toward pet adoption and increasing investments in pet care have prompted international players to establish their presence in these countries in an effort to tap the potential this region carries.
Competitive Tracking
Key players in the global veterinary imaging market that have been analyzed in the report include Fujifilm Holding Corporation, Heska Corporation, Idexx Laboratory Inc, and Canon. Other players include Hallmarq Veterinary Imaging Ltd., Carestream Health, General Electric and others. Market strategies most employed by these competitors include product innovation and investments in R&D pipeline.
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