Global Veterinary Imaging Market Company Share, Industry Size, Strategies and Forecast to 2030

Inkwood Research evaluates that the Global Veterinary Imaging Market is projected to evolve at a CAGR of 6.12% during the forecast period, 2019-2028.
"Browse 61 market Data Tables and 53 Figures spread over 156 Pages, along with an in-depth TOC on Global Veterinary Imaging Market Forecast 2019-2028."

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Veterinary imaging is a segment of advanced veterinary medicine that helps to obtain medical images of companion animals, large animals, livestock animals, and others. These imaging systems are used for various medical conditions such as orthopedics & traumatology, cardiology, oncology, neurology, and others. Diagnostic imaging is the non-invasive method of making medical images of the body to diagnose disease. Instruments such as MRI systems, digital radiography systems, CT systems, nuclear imaging scanner, ultrasound, and thermal imaging systems play a crucial role in veterinary imaging.

Increasing Pet Ownership Fuels Market Growth
A pet or companion animal is kept for a person's company and entertainment, and provides emotional attachment to the pet owner. Companion animals play a vital role in improving the quality of life by affirming a positive impact on human health and well-being. Recently, the adoption of companion animals has increased across the globe. During the last 30 years, pert ownership of all households has accelerated from 56% to 68%. Some of the changes in pet ownership are occurring on account of technology and the advent of online purchasing. But most of the growth is because of cultural changes. Generation Z and millennial consumers have embraced the pet-owning and pet-loving lifestyles to a large extent than their elders. The households headed by elders account for 32% of pets, whereas younger consumers record 62% of pet ownership.
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Oncology Registers the Highest Growth Rate in the Application Segment
Cancer is a major cause of death in companion animals. Veterinary oncology is a section of veterinary medicine that deals with the diagnosis and treatment of cancer in animals. The most common forms of cancer that are prevalent in dogs are lymphoma, connective tissue cancer, mouth & throat cancer, breast cancer, testis cancer, and skin cancer. It is expected that the veterinary imaging market for the branch of oncology will display the fastest growth during the forecast period, due to rising occurrences of cancer in animals, increasing awareness about animal health, and the availability of diagnostic systems for the detection of different forms in cancer in animals.

North America Dominates the Global Market
In terms of revenue, North America contributed the largest share, and is estimated to demonstrate continuous growth, owing to surge in the number of pets and other domestic animals, an increase in spending for veterinary services by pet owners, and administering of strict regulations by state and federal governments to improve animal welfare. In addition, supportive pet insurance policies, the presence of trained veterinary practitioners, and the availability of veterinary imaging systems, veterinary hospitals and clinics, contribute to market growth prospects. Also, the prominence of well-established players in the region, namely GE Healthcare, Idexx Laboratories, Inc, Carestream Health, impacts market growth.
The technologically advanced companies are focusing on new product development, which is creating competitive rivalry in the market. The market comprises of various pioneering players operating actively across the globe, such as Hallmarq Veterinary Imaging, IMV Technologies Group, Siemens AG, Mindray Medical International Limited, FUJIFILM Holdings, etc.

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