Latin America Veterinary Imaging Market Forecast Analysis to 2025 | Key Players - IDEXX Laboratories, Inc.; GE Healthcare; His Carestream Health; and FUJIFILM Holdings America Corporation, Esaote, SpA, VetZ Limited; Hallmarq Veterinary Imaging Ltd; SUNI M

Latin America Veterinary Imaging Market Size and Growth Analysis:

The Latin America veterinary diagnostics market is expected to reach USD 411.3 million by 2025 from the current market value of USD 203.6 million in 2018, at a CAGR of 10.81%, during the forecast period 2018 – 2025.
Veterinary images are used to obtain medical pictures of animal bodies to diagnose chronic diseases. It is a non-invasive method that has evolved using imaging instruments of human medicine. The animals considered for pictures are small pets, large animals and zoo animals, among others. The market is expected to grow during the forecast period due to the growing awareness of health in pets.

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Drivers, Challenges and Opportunities:
The veterinary imaging equipment market is growing as the concept of pet insurance services grows in developing countries of Latin America. The increase in farm animal populations, the increased demand for meat and dairy products, the knowledge of better treatment options among pet owners and the adoption of a pet are some of the factors that can stimulate market growth in the forecast period. With veterinary imaging equipment, we can save on diagnostic costs by eliminating films, dark rooms, covers and photo processing equipment. It is expected that the increase in technological progress will boost market growth in this regional sector during the forecast period. Such technical developments include efficient information management systems for owners and cloud-based mobile technologies.
However, the veterinary imaging equipment is not as sensitive as the magnetic resonance for the detection of tumors, inflammation and vascular disease. In addition, the use of veterinary imaging equipment comes with a high initial cost that prevents the development of the Latin American market. It is expected that continued technological innovation in imaging stimulates future market opportunities. It is expected that magnetic resonance technology is associated to the veterinary image to provide a more accurate diagnosis for small pets.

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Geographic Segmentation:
Geographically, the Latin American veterinary imaging market is classified in several regions, namely Argentina, Brazil and Mexico. The growing demand for veterinary equipment and increased R&D spending should stimulate market growth in these regions of the world.

Key Players Covered in this Latin America Veterinary Imaging Market report are: IDEXX Laboratories, Inc.; GE Healthcare; His Carestream Health; and FUJIFILM Holdings America Corporation, Esaote, SpA, VetZ Limited; Hallmarq Veterinary Imaging Ltd; SUNI Medical Imaging, Inc, and Universal Medical Systems, Inc.

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