Veterinary Imaging Market worth USD 2.07 Billion at 6.1% CAGR; Improved Healthcare Infrastructure to Spur Demand in Europe: Fortune Business Insights™
Pune, India, Nov. 20, 2020 (GLOBE NEWSWIRE) — The global veterinary imaging market is set to gain impetus from the increasing shift towards digital X–ray detectors. They are capable of storing images digitally, fully implementing the picture archiving and communication system (PACS), and making the images available anywhere at any time. Fortune Business Insights™ mentioned this information in a new report. The report further states that the veterinary imaging market size was USD 1.46 billion in 2019 and is projected to reach USD 2.07 billion by 2027, exhibiting a CAGR of 6.1% during the forecast period. North America held USD 0.70 billion in terms of revenue.Key Players Aim to Broaden Their Presence through Acquisitions & PartnershipsApril 2019: Agfa signed an agreement with Universal Imaging, a multi-modality veterinary provider to provide veterinary-dedicated direct radiography (DR) solutions to the markets in Canada and the U.S. These are equipped with MUSICA 3 image processing. The agreement will broaden Agfa’s presence in the market, thereby allowing the latter to deliver the lowest radiation dose and excellent image quality to veterinary health providers.October 2017: AniCura acquired a majority stake in Tierklinik Haar, an animal hospital based in Germany. It would enable the former to strengthen its leading position in the advanced veterinary care segment in the country. It organizes educational activities and seminars for other veterinarians.
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Rising Demand for Early Diagnosis of Veterinary Diseases will Drive GrowthThe rising awareness of multiple veterinary diseases and the possible methods of their early diagnosis would propel the animal imaging market growth in the near future. Also, the spread of animal diseases can severely affect economies and lives. The outbreak of livestock diseases can be a burden on the economy of those countries relying mainly on animals.Hence, early diagnosis is experiencing high demand. However, the lack of well-qualified and trained professionals is set to hamper the demand for veterinary imaging systems in emerging nations.COVID-19: Cancellation or Postponement of Non-Essential Services to Decline GrowthThe outbreak of the COVID-19 pandemic has taken a toll on the market by postponing or cancelling non-essential services. Veterinary practices are currently undergoing multiple changes to help patients receive vital care. Besides, new measures to prevent the transmission of coronavirus were deployed in healthcare institutes. We are providing accurate research reports for making you better understand the scenario of the global veterinary imaging market.
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Orthopedics Segment Generated 27.0% Share Owing to High DemandBased on application, the orthopedics segment earned 27.0% in terms of veterinary imaging systems market share in 2019 and is set to dominate throughout the forthcoming years. This growth is attributable to the increasing demand for these veterinary imaging procedures backed by the surging prevalence of orthopedic diseases among livestock and pet animals.Increasing Employment in Veterinary Sector to Aid Growth in North AmericaGeographically, in 2019, North America held USD 0.70 billion in terms of revenue. The favorable reimbursement scenario, rising employment in the veterinary sector, huge expenditure on pet care, and increasing adoption of pet animals in Canada and the U.S. are likely to accelerate growth in this region.Europe, on the other hand, is expected to retain its second position backed by the growing number of veterinary clinics, increasing adoption of pet animals, improved healthcare infrastructure, and rising prevalence of veterinary diseases. Lastly, Asia Pacific would showcase the highest CAGR in the coming years fueled by the rising awareness of all the risks associated with zoonotic diseases.
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A list of all the prominent veterinary imaging manufacturers operating in the market:GENERAL ELECTRIC COMPANY (Boston, United States)Agfa-Gevaert Group (Mortsel, Belgium)Esaote SpA (Genova, Italy)Siemens Healthineers AG (Munich, Germany)Heska Corporation (Loveland, Colorado, United States)IDEXX Laboratories, Inc. (Westbrook, Maine, United States)FUJIFILM Holdings Corporation (Tokyo, Japan)Carestream Health (Rochester, New York, United States)Canon Medical Systems Corporation (Tochigi, Japan)Koninklijke Philips N.V. (Amsterdam, Netherlands)Other Prominent Players
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Table of Contents:IntroductionResearch ScopeMarket SegmentationResearch MethodologyDefinitions and AssumptionsExecutive SummaryMarket DynamicsMarket DriversMarket RestraintsMarket OpportunitiesKey InsightsKey Mergers, Acquisition, and PartnershipsKey Advancements in Veterinary Imaging MarketPet Ownership Statistics, By Key Countries, 2019Overview of Pet Insurance by Key CountriesPrevalence of Key Veterinary DiseasesNew Product Launches/Approvals, By Major PlayersKey Industry TrendsImpact of COVID-19 on Veterinary Imaging MarketGlobal Veterinary Imaging Market Analysis, Insights and Forecast, 2016-2027Key Findings / SummaryMarket Analysis, Insights and Forecast – By Product TypeX-rayUltrasoundComputed Tomography SystemsMagnetic Resonance Imaging SystemsOthersMarket Analysis, Insights and Forecast – By ApplicationNeurologyOncologyCardiologyGynecologyOrthopedicsOthersMarket Analysis, Insights and Forecast – By Animal TypeLivestockCompanionMarket Analysis, Insights and Forecast – By End UserVeterinary HospitalsDiagnostic Imaging CentersOthersMarket Analysis, Insights and Forecast – By RegionNorth AmericaEuropeAsia PacificLatin AmericaMiddle East & Africa