Veterinary Imaging Systems Market: Sales of MRI Systems to Register the Highest CAGR through 2022

From: FactMR
Published: Tue Jul 30 2019

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.

Veterinary imaging has had the challenge and privilege that go in tandem with continued development of present and novel imaging modalities and technologies. Although an array of imaging technologies can be found, most of them are based either on electromagnetic waves or sound.

The omnipresence of ultrasound and pervasiveness of magnetic resonance imaging and computed tomography are advancements which remained unanticipated a few decades ago. Such advancements in technology have had an overwhelming influence on veterinary imaging.

Fact.MR’s report projects the global market for veterinary imaging to exhibit an above-average CAGR throughout the forecast period 2017 to 2022. Revenues from global sales of veterinary imaging systems are expected to exceed US$ 2,000 Mn by 2022-end.

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Veterinary imaging is well placed vis-à-vis medical imaging as far as regulations are concerned. Machine learning algorithms need access to huge amounts of classified data, while this is technically feasible; it could bring distress for medico-legal reasons.

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.

Spending on pet purchases, veterinary services and medical services have been following human health-care spending in the U.S., according to the annual data from the Bureau of Labor Statistics’ Consumer Expenditure Survey. Changing perception with respect to animals which has led to the transition of the pet to a near fully-fledged family member and advancement in veterinary technology have positive influence in the veterinary imaging systems market. Owning a pet has been linked with stress reduction, heart disease prevention and lessening blood pressure.

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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Veterinary Imaging Systems: Overview

The report moots a comprehensive analysis on the market for veterinary imaging systems for the assessment period 2018-2026. The report also delves into the dynamics surrounding the veterinary imaging systems which significantly influence the growth of the market.

Furthermore, the report elucidates the segregation of the market which is anticipated to provide readers with an actionable insights which will aid them in taking proper decision based on segments historical and future growth estimates.

The report focuses on cost structure and supply chain to provide a holistic view of the veterinary imaging systems market. The report provides a coherent assessment through average pricing analysis. The report also includes regional and country-wise assessment.

A qualitative and quantitative information has been obtained for the forecast and assessment on the veterinary imaging systems market. The research sources include primary and secondary sources which have been further examined by in-house panel of experts. The growth of end use industries in the historical and forecast period have been estimated to aid the readers with their business investment decisions. The market size of the veterinary imaging systems is the result of revenue comparison, market share comparison and Y-o-Y growth comparison on the geography. 

Veterinary Imaging Systems: Competitive Landscape

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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