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Veterinary Imaging Market by Product, Therapeutic Area, Animal, End User - Global Forecast to 2025

Veterinary Imaging Market by Product, Therapeutic Area, Animal, End User - Global Forecast to 2025

  • August 2020
  • 291 pages
  • ID: 4855266
  • Format: PDF
  • MarketsandMarkets

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Rising demand for pet insurance and growing animal health expenditure are driving market growth
The global veterinary imaging market is projected to reach USD 2.2 billion by 2025 from USD 1.6 billion in 2020, at a CAGR of 6.7% during the forecast period. The growth in this market is majorly driven by the increase in animal healthcare spending and growing pet insurance purchase, the growing companion animals market, increase in the number of veterinary practitioners and their income levels in developed regions, and the launch of advanced products. However, lack of animal healthcare awareness, a severe shortage of skilled veterinarians, and the high cost of imaging instruments in emerging countries are factors expected to restrain the overall market growth, to a certain extent, during the forecast period.

Radiography (X-ray) imaging systems segment was the largest product type segment in veterinary imaging instruments market in 2019
Based on type, the veterinary imaging instruments market is segmented into radiography (X-ray) imaging systems, ultrasound imaging systems, computed tomography systems, magnetic resonance imaging systems, video endoscopy imaging systems, and other imaging systems.In 2019, the radiography (X-ray) imaging systems segment accounted for the largest share in veterinary imaging instruments market.

The large share of this segment can be attributed to various factors, such as the consistently high quality of images provided by X-ray imaging, cost-effective technology, and the increasing preference for this technology by veterinarians.

Orthopedics & traumatology segment was the largest therapeutic area in veterinary imaging market in 2019
Based on the therapeutic area, the veterinary imaging market is categorized into orthopedics & traumatology, obstetrics and gynecology, oncology, cardiology, neurology, dentistry, and other therapeutic areas.In 2019, the orthopedics & traumatology segment accounted for the largest share of the market.

The large share of this segment can mainly be attributed to the increasing incidence of bone injuries and the rising prevalence of arthritis, lameness disease, and joint disorders in animals.

Veterinary clinics and diagnostic centers is the largest end user segment in the veterinary imaging market in 2019
On the basis of end users, the veterinary imaging market is segmented into veterinary clinics and diagnostic centers and veterinary hospitals and academic institutions.Veterinary clinics and diagnostic centers accounted for the largest share of the market in 2019.

The large share of this segment is attributed to the increasing number of veterinarians and the growing number of private clinical practices across the globe. Rising awareness among pet owners regarding routine & preventive care and improving government initiatives for small veterinary practices are expected to propel the growth of this segment in the coming years.

North America will continue to dominate the veterinary imaging market in 2025
The veterinary imaging market is segmented into five major regions, namely, North America, Europe, Asia Pacific, Latina America, and the Middle East and Africa.In 2019, North America accounted for the largest share.

The large share of North America can primarily be attributed increasing population of companion and livestock animals, rising meat and dairy product consumption, rising veterinary healthcare expenditure, and growth in pet insurance coverage.

The break-down of primary participants is as mentioned below:
• By Company Type - Tier 1: 32%, Tier 2: 32%, and Tier 3: 36%
• By Designation - C-level: 35%, Director-level: 30%, and Others: 35%
• By Region - North America: 17%, Europe: 17%, Asia Pacific: 33%, and Rest of the World: 33%

Research Coverage:
The report analyses the veterinary imaging market and aims at estimating the market size and future growth potential of various market segments, based on products, animal type, therapeutic area, end user, and region. The report also provides a competitive analysis of the key players operating in this market, along with their company profiles, product offerings, recent developments, and key market strategies.

Reasons to Buy the Report
This report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them garner a greater share of the market. Firms purchasing the report could use one or a combination of the below-mentioned strategies to strengthen their positions in the market.

This report provides insights on:
• Market Penetration: Comprehensive information on the product portfolios of the top players in the veterinary imaging market. The report analyzes this market by product, animal type, therapeutic area, end user, and region
• Market Development: Comprehensive information on the lucrative emerging markets, by products, animal type, therapeutic area, end user, and region
• Market Diversification: Exhaustive information about the product portfolios, growing geographies, recent developments, and investments in the veterinary imaging market
• Competitive Assessment: In-depth assessment of market shares, growth strategies, product offerings, and capabilities of the leading players in the veterinary imaging market

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