Animal Imaging Market Size Worth $3.18 Billion By 2025 | CAGR: 5.8%
102 Pages | Published Date : 09 / 12 / 17 | Report Code: AV114 | Report Format: PDF
The global Animal Imaging market is expected to grow at growth rate of 5.8% to reach USD 3.18 billion by 2025.
Veterinarians or veterinary radiologists are trained to use ultrasound, X-rays, and nuclear medicine techniques for veterinary diagnostic imaging. Veterinary diagnostic imaging is an extremely useful tool for the veterinarians to treat ailments /anomalies related to animals. The market for veterinary imaging products is majorly driven by the continuous rise in zoonotic diseases across the globe. For example, according to the Centers for Disease Control and Prevention (CDSCO), the rate of zoonotic disease is constantly increasing in the fast developing areas as well as some of the already developed regions.
Imaging devices help veterinarians in diagnosis and management of zoonotic diseases. Veterinarians over the world are recommending the use of imaging devices for its suitability and efficiency and this has consistently increased the number of installations in many regions over the world. Thus, one can observe a steady upsurge in this market. For example, Siemens, Esaote, Toshiba, 4DDI and Brain Bio Veterinary CT and MRI units have represented approximately 50% of the installations in North America alone. This is a definite marker for estimating the potential growth of the market over the recent future. However, one must also be aware of the fact that high cost of the market can restrain the growth to a certain extent.
The market is broadly divided into distinct categories as follows: Electronic Instruments and Devices, Reagent products and Software and Services. Instrument segment has recorded a turnover of USD 998 million at the end of the year 2016 of the global market. Instrument segment is further divided in the following categories: Radiography X-ray, Ultrasound Imaging, CT Imaging, Video Endoscopy Imaging and Magnetic Resonance Imaging and other. According to the estimation reports, video endoscopy imaging is one of the lowest revenue generating market segment from the above mentioned categories. The major influencing factor here is its higher cost. Thus, the market share of video endoscopy imaging is confined to a few higher end clinics alone.
Reagent product range covers Ultrasound Contrast, MRI Contrast, X-Ray/CT Contrast Reagents and others. Recent reports suggest that the market growth is clearly driven by the ultrasound contrast reagents given its advantages over the other reagent media. Software segment is bifurcated as RIS PACS and CVIS PACS. Services segment is divided in two categories namely Interventional Radiology and Endoscopy and Advanced Imaging Services. Animal types segment is divided into two categories; small animals and large animals.
Regionally, the market is categorized into North America, Europe, Asia Pacific and Rest of the World. North America has held a dominant share of veterinary imaging market in the recent times. The market growth in this region is clearly driven by the increase in the research activities coupled with new product introduction. At the same time, Asia Pacific region is growing with highest growth rate if you observe the other side of the globe. The Asia Pacific Strategy for Emerging Diseases (APSED) has been established with an aim to strengthen generic capacity of the country, so as to prevent and control zoonotic diseases by providing fitting strategies. This exercise would in turn encourage the use of veterinary imaging products and lead to an agile market growth.
Companies like IDEXX Laboratories, Inc., Esaote SpA, VCA Inc., Carestream Health, Inc., GE Healthcare and others are leading in this market. Market participants offer variety of veterinary imaging products which will help companies to expand its customer base.
KEY BENEFITS OF THE REPORT:
- Understanding of the strategies that are being adopted by the key players in this market to stay competitive
- Extensive analysis of the key players dominating the competitive landscape of this market
- In-depth analysis of the key factors are propelling the growth of the global market
- Detailed analysis of the geographic region that will witness the strongest growth
- Granular analysis of the current market scenario and the expected market grow
The scope of this report covers the market by its major segments, which include as follows:
MARKET, BY TYPES
- Radiography X-ray
- Ultrasound Imaging
- CT Imaging
- Video Endoscopy Imaging
- Magnetic Resonance Imaging
- Ultrasound Contrast Regents
- MRI Contrast Regents
- X-Ray/CT Contrast Reagents
- RIS PACS
- CVIS PACS
- Interventional Radiology
- Advanced Imaging Services
MARKET, BY ANIMAL TYPE
- Small Animal
- Large Animal
MARKET, BY REGION
- North America
- Asia Pacific
- Rest of the World
MARKET, BY COUNTRY
- Further Breakdown of The North America Market
- Further Breakdown of The Europe Market
- Rest of Europe
- Further Breakdown of The APAC Market
- Rest of APAC
- Further Breakdown of The Rest of the World Market
- Middle East and Africa
- Latin America
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