Selbyville, Delaware, July 22, 2019 (GLOBE NEWSWIRE) --
Neurology segment of veterinary imaging market was accounted for more than 170 million in 2018 and is expected to experience substantial growth during the forecast timeline. Advanced imaging techniques such as ultrasonography, computed tomography and magnetic resonance imaging are extensively used for detecting neurological diseases. Above-mentioned factors augment the segmental growth.
Clinics segment accounted for over 36% veterinary imaging market share in 2018 and will witness lucrative CAGR by 2025. Benefits offered such as early detection of disease, affordable and quality treatment, preventive healthcare, and corrective health treatments favors segmental growth.
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North America veterinary imaging market held more than USD 660 million in 2018 and will grow substantially during the forecast period. Rising prevalence of animal disorders as well as increasing healthcare spending for effective animal management should foster the regional growth. Additionally, rising cases of internal injuries will further propel the industry demand.
Global Veterinary Imaging Market revenue will surpass USD 2 billion by 2025; according to a new research report by Global Market Insights, Inc. Increase in pet adoption and surging demand for pet insurance drives veterinary image market growth. Pet insurance policies are specially designed for companion animals that covers either entirely or certain part for expensive veterinary procedures. Several insurance companies and organizations invest in introducing improved veterinary insurance plans, thereby, favors veterinary imaging business growth. Massive demand for these insurance policies coupled with growing demand for veterinary image systems will accelerate the veterinary imaging market share.
Globally rising pet adoption and increase in spending on veterinary care will render positive impact on the veterinary diagnostic imaging business growth. Additionally, rising prevalence of zoonotic diseases and increasing disposable income are aspects that further accelerates vet imaging business growth. Moreover, several pet owners consider their companion animals as a family member, hence various efforts are undertaken for proper care of their animals. Aforementioned factors foster veterinary imaging systems market growth. However, high cost associated with veterinary imaging instruments might restrict veterinary imaging market growth during the analysis timeframe.
Browse key industry insights spread across 170 pages with 245 market data tables & 9 figures & charts from the report, “Veterinary Imaging Market By Products (Veterinary Imaging Instruments [Radiography (X-ray) Systems, Ultrasound Systems, Computed Tomography Systems, Magnetic Resonance Imaging Systems, Video Endoscopy Imaging Systems, Nuclear Imaging Scanners] Veterinary Software, Veterinary Imaging Reagents [Ultrasound Contrast Reagents, MRI Contrast Reagents, X-Ray/CT Contrast Reagents, Nuclear Imaging Reagents), By Animal Type (Small Companion Animals, Large Animals), By Application (Orthopedics and Traumatology, Oncology, Cardiology, Neurology), By End-use (Hospitals, Clinics), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, Japan, China, India, Australia, South Korea, Brazil, Mexico, Argentina, Saudi Arabia, South Africa, UAE), Application Potential, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/veterinary-imaging-market
Veterinary imaging instruments segment was valued around 840 million in 2018 and will witness momentous growth over the forthcoming years. Advancements in ultrasound systems and ultrasonography coupled with clear imaging favors the segmental growth. It provides real time monitoring of numerous organs without interpreting daily activities of animals that further enhances the segment growth.
Small companion animals segment held over 48% veterinary imaging market share in 2018 and will show significant CAGR by 2025. Rising incidence of animal diseases and surging cases of accidental injuries and traumatology will upsurge the segmental growth. Moreover, increasing adoption of small companion animals including dogs and cats along with rising spending on animal healthcare will propel the segmental growth.
Notable business players operational in veterinary imaging market share include Canon Medical Systems, BCF, Agfa-Gevaert, Epica International, Carestream Health, Fujifilm, Esaote SpA, GE Healthcare, Idexx Laboratories, Hitachi, Siemens, and Shenzhen Mindray Bio-Medical Electronics. Various initiatives undertaken by business players such as collaborations and partnerships to sustain in the industry will prove beneficial for veterinary imaging technique business growth. For instance, in March 2017, Hitachi, Ltd. launched ALOKA ARIETTA 850. It is the model of the ARIETTA series of diagnostic ultrasound platforms. Thus, introduction to new systems expands the product portfolio of the firm. Moreover, in February 2016, DRE Veterinary introduced DR X-ray System. It is a high-quality radiography for veterinary practice, thereby, this strategy enhanced the product portfolio of the firm.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.