Veterinary Imaging Equipments Market - Industry Growth Prospects, Trends and Forecast up to 2025
Seattle, WA -- (SBWIRE) -- 12/13/2019 -- In this report, the global Veterinary Imaging Equipments market is valued at USD XX million in 2019 and is expected to reach USD XX million by the end of 2025, growing at a CAGR of XX% between 2019 and 2025.
Veterinary imaging is based on sound or electromagnetic waves or a combination of both. Optical imaging in an emerging field in veterinary imaging. Veterinary imaging equipment are used for various purposes such as insemination, enteroscopy, bronchoscopy, laparoscopy, hysteroscopy, cystoscopy, and arthroscopy. In laparoscopy procedure, veterinary endoscope is used to diagnose medical conditions in the abdominal or pelvic cavity, interior parts of joints, and lower respiratory tract diseases in animals.
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Increasing prevalence various chronic diseases in animals is expected to propel growth of the global veterinary imaging equipment market over the forecast period. For instance, according to the study, 'Prevalence, duration and risk factors for appendicular osteoarthritis in a UK dog population under primary veterinary care' published in the journal Scientific Reports in April 2018, the annual period prevalence for appendicular osteoarthritis in the UK dog population was 2.5% and 200,000 individuals are affected with osteoarthritis in a given year.
Increasing M&A activities are expected to boost growth of the global veterinary imaging equipment market. For instance, in November 2019, Zoetis Inc., an animal health company that develops, manufactures, and commercializes medicines, vaccines and diagnostic products, acquired ZNLabs, a full-service veterinary clinical reference laboratory company. In November 2019, StageBio merged with Alizée Pathology to form a leading provider of specialized histology, pathology, biomarker development, and archiving services for the biopharmaceutical, medical device and contract research industries. The combined company now employs 28 board-certified (ACVP) veterinary pathologists with a total employee base of over 150.
Increasing expenditure on animal healthcare is also expected to boost growth of the global veterinary imaging equipment market. For instance, according to The American Pet Products Association (APPA)'s report in March 2018, the overall spending in the U.S. pet industry was US$ 66.75 billion in 2016 and witnessed an increase of 4.1% to reach US$ 69.51 billion in 2017. The APPA also projected an increase of 3.7% in 2018.
Key players in the market are focused on adopting marketing strategies to enhance their market share. For instance, in November 2019, Edan, a healthcare solutions provider of diagnostic ECG, OB/GYN, ultrasound imaging, in-vitro diagnostics, patient monitoring, point-of-care testing, and veterinary healthcare, demonstrated its new offering in Obstetrics and Gynecology, Patient Monitoring, In-Vitro Diagnostics, Diagnostic ECG, and Ultrasound at MEDICA, a high impact healthcare trade show, in Germany.
- Increasing prevalence various chronic diseases to augment growth of the global veterinary imaging equipment market
- Increasing M&A activities are also expected to boost growth of the market
- Major players operating in the global veterinary imaging equipment market include, GE Healthcare, Agfa-Gevaert N.V., Excelsior Union Limited, Onex Corporation, Esaote SpA, Canon Inc., Idexx Laboratories, Inc., VCA Inc., Hitachi, Ltd., Siemens AG, Fujifilm Holdings Corporation, and BCF Technology, Ltd.
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Geographically, this report is segmented into several key Regions, with production, consumption, revenue (million USD), market share and growth rate of Veterinary Imaging Equipments in these regions, from 2014 to 2025 (forecast), covering
- North America
- Southeast Asia
Global Veterinary Imaging Equipments market competition by top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the top players including
- GE Healthcare
- Agfa-Gevaert N.V.
- Excelsior Union Limited
- Onex Corporation
- Esaote SpA
- Canon Inc.
- Idexx Laboratories, Inc.
- VCA Inc.
- Hitachi, Ltd.
- Siemens AG
- Fujifilm Holdings Corporation
- BCF Technology, Ltd.
On the basis of product, this report displays the production, revenue, price, market share and growth rate of each type, primarily split into
- Radiography (X-Ray) Systems
- Ultrasound Imaging Systems
- Computed Tomography Imaging Systems
- Video Endoscopy Imaging Systems
- Magnetic Resonance Imaging Systems
On the basis on the end users/applications, this report focuses on the status and outlook for major applications/end users, consumption (sales), market share and growth rate of Veterinary Imaging Equipments for each application, including
- Hospitals and Academic Institutes
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