Technological advancements in imaging systems, surge in pet ownership across the world, and increase in spending on animal health drive the growth of the global veterinary imaging market.
PORTLAND, Oregon, Jan. 14, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Veterinary Imaging Market by Product Type (Instrument, Reagents, and Others), Animal Type (Companion Animals, Large Animals, and Other Animals), Application (Orthopedics & Traumatology, Oncology, Cardiology, Neurology, and Other Application), and End User (Clinics & Hospitals, Reference Labs, and Other End User): Global Opportunity Analysis and Industry Forecast, 2019–2026." According to the report, the global veterinary imaging industry garnered $1.62 billion in 2018, and is projected to reach $2.65 billion by 2026, registering a CAGR of 6.3% from 2019 to 2026.
Prime determinants of growth
Technological advancements in imaging systems, surge in pet ownership across the world, and increase in spending on animal health drive the growth of the global veterinary imaging market. However, lack of veterinary infrastructure facilities in underdeveloped countries hinder the market growth. On the other hand, untapped potential in emerging economies create new opportunities in the market.
Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/880
The instrument segment to maintain its dominant position during the forecast period
Based on product, the instrument segment held nearly two-thirds of the total market share of the global veterinary imaging market in 2018, and is estimated to maintain its dominant position during the forecast period. Moreover, this segment is estimated to witness the fastest CAGR of 7.0% from 2019 to 2026. This is attributed to technological advanced instruments, rise in animal healthcare spending in developing nations, surge in adoption of imaging systems, and ease in accessibility. On the other hand, the research also analyses the segments including reagents and others.
The companion animals segment to dominate throughout the forecast period
Based on animal type, the companion animals segment contributed to the largest market share in the global veterinary imaging market, accounting for nearly two-thirds of the total share in 2018, and is expected to continue to dominate throughout the forecast period. This is attributed to increase in adoption of companion animals, rise in number of pet insurance purchases, and considerable increase in number of veterinary clinics and physicians. However, the large animals segment is expected to maintain the fastest CAGR of 7.1% from 2019 to 2026. This is due to increase in number of large animal veterinarians, surge in adoption of cattle, and increase in large animal health awareness and expenditure on their welfare.
North America to maintain its lion's share during the forecast period
Based on region, North America held the largest market share, accounting for nearly half of the global veterinary imaging market in 2019, and will maintain its lion's share during the forecast period. This is attributed to presence of advanced veterinary imaging facilities and skilled veterinary professionals, availability of veterinary hospitals, and rise in demand for advanced imaging systems. However, Asia-Pacific is expected to witness the largest CAGR of 8.1% from 2019 to 2026, owing to development in veterinary facility, improvement in animal health awareness, and increase in number of veterinary clinics & hospitals equipped with advanced medical facilities
For Purchase Enquiry at: https://www.alliedmarketresearch.com/purchase-enquiry/880
- Leading players grabbing the largest pie
- Agfa-Gevaert N.V.
- Esaote SpA
- Fujifilm holdings corp. (Sonosite, Inc.)
- General Electric (GE Healthcare)
- IMV Technologies group (IMV imaging)
- IDEXX Laboratories, Inc.
- Mindray Medical International Ltd.
- MinXray, Inc.
- Siemens AG
- Toshiba Corporation (Canon Medical Systems Corporation)
Avenue Basic Plan | Library Access | 1 Year Subscription |
Sign up for Avenue subscription to access more than 12,000+ company profiles and 2,000+ niche industry market research reports at $699 per month, per seat. For a year, the client needs to purchase minimum 2 seat plan.
Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starter
Get more information: https://www.alliedmarketresearch.com/library-access
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
5933 NE Win Sivers Drive
#205, Portland, OR 97220
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022, +1-503-446-1141
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Market Pulse: https://blog.alliedmarketresearch.com
Follow Us on LinkedIn: https://www.linkedin.com/company/allied-market-research
SOURCE Allied Market Research