Veterinary Diagnostic Imaging Market By Product (Instruments, Reagents and Services), By Application (Cardiology, Oncology, Neurology, Orthopedics and Others) - Growth, Future Prospects & Competitive Analysis, 2018 - 2026

The veterinary diagnostic imaging market is set to reach from US$ 1,931.5 Mn in 2017 to US$ 3,473.9 Mn by 2026 at a compound annual growth rate (CAGR) of 6.8% during the forecast period from 2018 to 2026. Veterinary diagnostic imaging is a non-invasive procedure which is employed to obtain medical images of animals suffering with acute and chronic diseases. Technological advancement in the instruments and contrast media has drastically reduced time and cost associated with preliminary diagnosis of animals. Increasing demand for meat and dairy products and rising welfare activities for pet & stray animals provide a positive impetus for the veterinary diagnostic imaging market growth.

Market Synopsis 

Veterinary Diagnostic Imaging Market

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"Low cost of operation, increased sensitivity and precise interpretation drive the instruments market growth"

Instruments are reigning the product segment for veterinary diagnostic imaging market. Over the last 2 decades there has been a technological revolution in the diagnostic tools which has increased the instrument sensitivity, high resolution imaging, precise data interpretation and low cost of operation. The other factors that drive the instruments market growth are rising prevalence of zoonotic disease and increase rate of pet adoption. Service segment will be gaining tremendous traction in the near future owing to increased adoption of veterinary picture archiving and communication system (PACS) in clinical settings throughout the globe. Image sharing facilities and increased storage capacity for vital information is the need of the hour in veterinary science, henceforth medical device manufacturers are diligently working to provide services pertaining to veterinary diagnostic and imaging.

Veterinary Diagnostic Imaging Market
 

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"Rising prevalence of musculoskeletal disease in bovine and equine animals drive the orthopedic market growth"

In the present scenario orthopedics are dominating the application segment for veterinary diagnostic imaging market. Rising prevalence of musculoskeletal disease in equine and bovine animals and rampant growth in livestock & animal husbandry drive the orthopedics market growth. Medical device manufacturers are investing huge funds in developing contrasting media to get precise and accurate images pertaining to tumors and cancerous cells. Technological advancement in the diagnostic instruments has made early diagnosis and subsequent treatment of cancer. Neurology will be the fastest growing market during the forecast period owing to increasing incidence of brain disorders such as mad cow disease, encephalitis, hydrocephalus and traumatic brain injuries.  

Veterinary Diagnostic Imaging Market
 

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"Rising public animal health awareness and significant increase in pet adoption drive the market growth in North America"

Currently North America represents 39% market share and is leading the regional segment for veterinary diagnostic imaging market. The primary features responsible for the excellent market growth in North America are rising public animal health awareness and significant increase in the pet adoption rate in the last decade. Europe is the second largest region accounting for 30% market share. Increasing demand for meat and dairy products and domicile of major players such as Siemens AG, Agfa-Gevaert N.V., GE Healthcare etc., propel the veterinary diagnostic imaging market growth in the European region. Asia Pacific currently constitutes 16% market share and will be the fastest growing market regional segment during the forecast period from 2018 to 2026. The major factors which contributes to its positive growth are rising prevalence of zoonotic disease and rampant growth in the livestock and dairy industry.

Veterinary Diagnostic Imaging Market  

Historical & Forecast Period

This research report presents the analysis of each segment from 2016 to 2026 considering 2017 as the base year for the research. Compounded annual growth rate (CAGR) for each respective segments are calculated for the forecast period from 2018 to 2026.

Report Scope by Segments

The market segmentation comprises of by product, application and geography.

ATTRIBUTE DETAILS
Research Period  2016-2026
Base Year 2017
Forecast Period  2018-2026
Historical Year  2016
Unit  USD Million
Segmentation

 By Product (2016–2026; US$ Mn)
 • Instruments
   o Radiography Imaging
   o Ultrasound Imaging
   o MRI
   o CT Imaging
   o Video Endoscopy Imaging
 • Reagents
 • Services 

 By Application (2016–2026; US$ Mn)
 • Cardiology
 • Oncology
 • Neurology
 • Orthopedics
 • Others

 Geography Segment (2016–2026; US$ Mn)
 • North America (United States and Canada)
 • Europe (U.K., Germany, Rest of Europe)
 • Asia Pacific (China, Japan, Rest of Asia Pacific)
 • Latin America (Brazil, Mexico, Rest of Latin America)
 • Middle East and Africa (GCC, Rest of MEA)

Medical device manufacturers competing in the veterinary diagnostic imaging market are Agfa-Gevaert N.V., Canon, Inc., Fujifilm Holdings Corporation, GE Healthcare, Hallmarq Veterinary Imaging, IDEXX Laboratories, Inc., MinFound Medical Systems Co., Ltd., Onex Corporation, Samsung Group and Siemens AG.

Key questions answered in this report

  • What will be the market size and compounded annual growth rate during the forecast period from 2018 to 2026?
  • Who are the key players participating in the veterinary diagnostic imaging market?
  • What are the strength, weakness and opportunities pertaining to veterinary diagnostic imaging market?
  • Which factors shall contribute towards the rapid growth of neurology in veterinary diagnostic imaging market?
  • Which services are being developed to fortify the veterinary diagnostic imaging market growth?
  • Why is North America the leading regional market in veterinary diagnostic imaging market?
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Published Date:  Jan 2019
Category:  Medical Devices
Report ID:   59532
Report Format:   PDF
Pages:   120
Rating:    4.4 (49)
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