Press release
Veterinary Imaging Market growing at a CAGR of 6.8% during 2021-2031 | Agfa-Gevaert N.V., Carestream Health, Esaote S.p.A, IDEXX Laboratories, Inc
Veterinary Imaging Market
Veterinary imaging is a branch of veterinary medicine that obtains medical images of animals to aid in disease diagnosis. Radiography, X-ray, ultrasound imaging, MRI, CT imaging, endoscopy imaging, and other imaging systems are used to diagnose diseases in companion animals, large animals, livestock animals, and others.
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Market Trends and Drivers
Globally, there is increase in the overall companion animal population and adoption rate. Having a companion animal is associated with positive health benefits such as reduced cardiac arrhythmias, normalised blood pressure, reduced anxiety, increased psychological stability, and improved well-being, according to several studies. Due to the COVID-19 pandemic's loneliness and need for companionship, the ownership of companion animals has increased significantly. The growing pet population is expected to fuel demand for pet care products and services, supporting the growth of dependent industries such as the veterinary imaging market.
Market Restraints and Challenges
Veterinary imaging equipment is an expensive product. Entry-level console (portable) ultrasound systems cost between USD 22,000 and USD 75,000 in developed countries like the United States, Germany, the United Kingdom, and Japan. Depending on the number of probes, the price of these systems could rise by USD 30,000 to USD 40,000. (if multiple probes are considered). Esaote and GE Healthcare both charge a premium for advanced ultrasound systems. Small portable machines start around USD 2,000-3,000 and can go up to USD 50,000, with backup transducer probes costing up to USD 1,000 and printers costing up to USD 2,000 on average. Fully digital portable handheld ultrasound systems are more expensive than basic ultrasound systems, Hence, high cost of imaging systems and treatment in developing countries coupled with less awareness regarding advanced imaging system for diseases diagnosis is expected to restrict the business expansion.
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Global Veterinary Imaging Market Segmentation
By Product Type
• Instrument
• Reagents
• Others
Major Players in the Global Veterinary Imaging Market
The key players in the market are GE Healthcare (US), Agfa-Gevaert N.V. (Belgium), Carestream Health (US), Esaote S.p.A (Italy), IDEXX Laboratories, Inc. (US), Mindray Medical International Limited (China), Canon Inc. (Japan), Heska Corporation (US), Siemens Healthineers (Germany), FUJIFILM Holdings Corporation (Japan), Konica Minolta Inc. (Japan), Samsung Electronics Co., Ltd. (South Korea), E.I. Medical Imaging (US), IMV imaging (UK), and SEDECAL (Spain) among others.
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Reasons to buy Veterinary Imaging Market Report:
• Develop comprehensive understanding of market landscape - industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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