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Global Veterinary Imaging Systems Market Perspective, Comprehensive Analysis, Demand, Size, Share, Growth, Segment, Trends and Forecast, 2017 to 2022
Fact.MR
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The report offers an overview of the global veterinary imaging systems market. This comprises an introduction to the market, along with a standard definition of the product – veterinary imaging systems. In this section, market value and year-over-year growth is offered to the readers. Year-over-year growth provides readers with a broader view of growth patterns over the forecast period.
The report’s succeeding section focuses on drivers, restraints and key trends from macroeconomic, demand, and supply perspectives. Impact analysis of weighted average model-based growth drivers is contained in the report for better provision of decision-making insights to clients.
In order to offer readers with up-to-date information about the latest advancements in the global veterinary imaging systems market, the report provides updates about market opportunities, which can benefit leading manufacturers of veterinary imaging systems. With continuous evolution of the healthcare sector, keeping a record of latest developments and trends is fundamental for veterinary imaging systems manufacturers to formulate key business strategies. Detailed insights about raw material sourcing, supply chain, regulatory approvals, pricing analysis, list of distributors, and cost structure are provided in this section.
Sales of MRI Systems to Register the Highest CAGR through 2022
X-ray systems will remain the top-selling product in the global veterinary imaging systems market. Revenues from X-ray systems will account for over one-third share of the market during 2017 to 2022. Dominance of x-ray systems is mainly attributed to their provision of consistent high-quality images, and rise in shifts of preference toward this technology by veterinarians. However, sales of MRI systems will register the highest CAGR in the market through 2022, based on product type.
Veterinary clinics will continue to be the largest end-users of veterinary imaging systems in the global market, accounting for more than two-third market share during 2017 to 2022 in terms of revenues. The surge in number of veterinarians, and veterinary practices will contribute to growth of veterinary clinics as end-users of veterinary imaging systems. Sales of veterinary imaging systems in hospitals will register a slightly higher CAGR than sales in veterinary clinics through 2022.
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.
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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.
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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About Fact.MR
Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.
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