North America veterinary imaging market has been noted to hold over $660 million in 2018 and will grow significantly over 2019-2025. Increasing incidences of disorders in animals and rising healthcare spending for effectual animal health management is likely to promote the regional growth of veterinary imaging industry. Moreover, escalating cases of internal injuries in animals is expected to further drive veterinary imaging industry growth.
Growing prevalence of animal diseases and rising instances of accidental injuries and traumatology will help veterinary imaging market growth surge via neurology segment. Neurology segment accounted for over 170 million in the year 2018 and is anticipated to witness substantial growth over 2019-2025. Advanced imaging techniques such as computed tomography, magnetic resonance imaging and ultrasonography are widely being used for detecting neurological diseases in animals.
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With growing pet adoption, the global pet insurance industry has witnessed a substantial boost in recent years. First introduced in Sweden, where 50% of the pet population is insured today, the pet insurance sector is slated to augment growth of the veterinary industry. Making expensive pet healthcare procedures, including veterinary imaging services, accessible to more pet owners would propel veterinary imaging market share further.
The pet owning trend has grown at such a massive scale globally that it is successfully bringing in revenue growth from developing economies. According to estimates, India’s companion pet population reached 10 million in 2014. The country is considered to be the fastest growing global pet industry in the world.
This rapid growth in pet ownership is calling for the launch of an organized pet healthcare service providers across India. This demand when coupled with upcoming insurance policies would be able to facilitate seamless comprehensive solutions to the pet owners. Expanding capabilities of the pet healthcare and pet insurance industry in India are expected to pave the way for the veterinary imaging market outlook during the forecast timeframe.
Prominent business players which are operational in veterinary imaging industry include BCF, Canon Medical Systems, Agfa-Gevaert, Carestream Health, Epica International, Fujifilm, GE Healthcare, Esaote SpA, Idexx Laboratories, Siemens, Shenzhen Mindray Bio-Medical Electronics, and Hitachi.
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Partial Chapter of the Table of Content
Chapter 5. Veterinary imaging Market, By Animal type
5.1. Key segment trends
5.2. Small companion animals
5.2.1. Market size, by region, 2014-2025 (USD Million)
5.3. Large animals
5.3.1. Market size, by region, 2014-2025 (USD Million)
5.4. Other animals
5.4.1. Market size, by region, 2014-2025 (USD Million)
Chapter 6. Veterinary imaging Market, By Application
6.1. Key segment trends
6.2. Orthopedics and traumatology
6.2.1. Market size, by region, 2014-2025 (USD Million)
6.3.1. Market size, by region, 2014-2025 (USD Million)
6.4.1. Market size, by region, 2014-2025 (USD Million)
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