New York, June 09, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Veterinary Imaging Global Market Report 2023" - https://www.reportlinker.com/p06466507/?utm_source=GNW
, Konica Minolta Inc., MinXray Inc., Clarius Mobile Health, Shenzhen Ricso Technology Co. Ltd., and ClearVet Digital Radiography Systems.
The global veterinary imaging market is expected to grow from $1.59 billion in 2022 to $1.74 billion in 2023 at a compound annual growth rate (CAGR) of 9.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The veterinary imaging market is expected to reach $2.36 billion in 2027 at a CAGR of 7.9%.
The veterinary imaging market consists of revenues earned by entities by providing imaging services such as ultrasonography, magnetic resonance imaging, and fluoroscopy.The market value includes the value of related goods sold by the service provider or included within the service offering.
The veterinary imaging market also includes sales of nuclear medicine, which are used in providing veterinary imaging services.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Veterinary imaging is a diagnostic tool that allows veterinarians to obtain detailed images of internal structures of the animal’s body to help identify and diagnose medical conditions.
North America was the largest region in the veterinary imaging market in 2022. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main products of veterinary imaging are veterinary imaging instruments, veterinary software, and veterinary imaging reagents.Veterinary imaging instruments are defined as instruments that are non-invasive and economical in nature that are used for diagnosing diseases in animals, used for providing clear and detailed images of internal organs and bones of animals to improve animal care.
It is used for small companion animals and large animals for orthopaedics and traumatology, oncology, cardiology, and neurology applications by veterinary clinics and hospitals, and others.
The rising prevalence of veterinary diseases is expected to propel the growth of the veterinary imaging market going forward.Veterinary diseases can be defined as diseases and conditions that can affect the health of livestock, domestic pets, and wildlife.
As the population of companion animals and livestock animals continues to grow, there has been an increase in the incidence of various diseases and conditions that require diagnostic imaging for proper diagnosis and treatment.Veterinary imaging uses diagnostic imaging to provide care to animals suffering from various diseases and ailments.
For instance, according to a 2020 article published by the World Trade Organization, a Switzerland-based intergovernmental organization, 20% of global livestock production is lost every year due to various animal diseases. Therefore, the rising prevalence of veterinary diseases is driving the growth of the veterinary imaging market.
Product innovations are a key trend gaining popularity in the veterinary imaging market.Major market players are concentrating their efforts on introducing new and innovative products to strengthen their position in the market.
For instance, in January 2023, Esaote SpA, an Italy-based medical diagnostic equipment manufacturing company, introduced the Magnifico Vet MRI system, a new and unique imaging solution to provide diagnostics for veterinary hospitals.The MagnificoTM Vet MRI system is environmentally friendly as it is created with long-lasting green permanent magnet technology, is cryogen-free, and consumes a lot less power than superconducting systems.
It is outfitted with cutting-edge technologies that provide imaging versatility across a wide range of clinical applications, such as Metal Artefact Reduction (MAR), which enables visualization for post-surgical imaging, particularly when microchips are present, and Speed Up and TR Reduction, advanced data acquisition algorithms that shorten exam times.
In July 2022, Zomedica Corp, a US-based veterinary health company offering diagnostic and therapeutic products for companion animals, acquired Revo Squared LLC for an undisclosed amount.Through this acquisition, Zomedica Corp will leverage Revo’s innovative MicroView digital cytology platform to provide veterinarians with excellent image quality.
Revo Squared LLC is a US-based medical equipment manufacturer, including veterinary imaging devices.
The countries covered in the veterinary imaging market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The veterinary imaging market research report is one of a series of new reports that provides veterinary imaging market statistics, including veterinary imaging industry global market size, regional shares, competitors with an veterinary imaging market share, detailed veterinary imaging market segments, market trends, and opportunities, and any further data you may need to thrive in the veterinary imaging industry. This veterinary imaging market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06466507/?utm_source=GNW
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