Dublin, May 11, 2021 (GLOBE NEWSWIRE) – The “Global Veterinary Imaging Equipment Market Report 2021: Growth and Change of COVID-19 to 2030” the report was added to ResearchAndMarkets.com from offer.
The major players in the veterinary imaging equipment market are Agfa-Gevaert NV, Canon Inc., Excelsior Union Limited, Fujifilm Holdings Corporation, Hitachi Ltd., Onex Corporation, Siemens AG, GE Healthcare, Chison and IDEXX.
The global veterinary imaging equipment market is expected to grow from $ 1.57 billion in 2020 to $ 1.69 billion in 2021 at a compound annual growth rate (CAGR) of 7.6%.
The growth is mainly driven by business resumption and adaptation to the new normal while recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, the remote work and closure of business activities which resulted in operational challenges. The market is expected to reach $ 2.43 billion in 2025 with a CAGR of 10%.
The veterinary imaging equipment market consists of the sale of veterinary imaging equipment by entities (organizations, independent traders and partnerships) that produce veterinary diagnostic equipment to obtain medical images of animals for diagnosis. of various diseases. This industry includes establishments that produce diagnostic equipment such as radiography, x-rays, ultrasound imaging, MRI, computed tomography imaging, endoscopy imaging and other imaging equipment. These imaging systems are used for cardiology, orthopedics and trauma, oncology, neurology and others.
The high cost of veterinary imaging systems is expected to limit the growth of the veterinary imaging equipment market over the next few years. Veterinary imaging equipment is considered expensive, which is likely to be a major challenge for veterinary hospitals and clinics. For example, the cost of veterinary digital radiography systems ranges between $ 25,000 and $ 50,000.
It is estimated that the cost of ultrasonic devices ranges from $ 2,000 to $ 3,000 for small portable machines and large machines can range from $ 50,000 and up. In addition, the cost of the maintenance contract is estimated at around 15% of the purchase price. Hence, the high cost of veterinary imaging equipment and associated maintenance costs are to act as a key factor to hinder the growth of the market.
The increase in the herd is expected to stimulate demand for veterinary imaging equipment. The increased herd and associated diseases are expected to propel the demand for veterinary medical equipment, including veterinary imaging equipment, to diagnose and treat various diseases in animals. For example, the global population of cattle or cows increased from 984.53 million in 2017 to 989.03 million in 2019.
In addition, according to the Food and Agriculture Organization of the United Nations, the global cattle population is expected to grow to 2.6 billion by 2050 and the global goat and sheep population is expected to reach 2.7. billion by the end of 2050. Therefore, the growth in the herd is expected to trigger the demand for veterinary imaging equipment during the forecast period.
Leading companies operating in veterinary imaging equipment industry are focused on launching wearable or wireless devices to provide better solutions for effective veterinary technologies, which is expected to be a leading trend in the equipment market veterinary imaging. For example, in October 2018, Diagnostic Imaging Systems, Inc. (DIS), a US-based manufacturer and supplier of imaging products, released a new dual-head wireless ultrasound probe, an advanced product in digital imaging technologies for veterinary practice. The device transmits the images wirelessly to any tablet or computer running Apple iOS, Windows or Android operating systems.
In another instance, in November 2019, Butterfly Network, Inc., a US-based digital healthcare company, announced the launch of Butterfly iQ Vet, a new portable ultrasound device with ultrasound-on-a-chip technology. for veterinary application. Butterfly iQ Vet provides better access to medical imaging and enables veterinarians to make better care decisions.
Main topics covered:
2. Characteristics of the veterinary imaging equipment market
3. Veterinary Imaging Equipment Market Trends and Strategies
4. Impact of COVID-19 on veterinary imaging equipment
5. Size and growth of the veterinary imaging equipment market
5.1. Global Historical Veterinary Imaging Equipment Market, 2015-2020, in USD Billion
5.1.1. Market drivers
5.1.2. Market restrictions
5.2. Global Veterinary Imaging Equipment Forecast Market, 2020-2025F, 2030F, Billion USD
5.2.1. Market drivers
5.2.2. Market constraints
6. Veterinary imaging equipment market segmentation
6.1. Global Veterinary Imaging Equipment Market, Segmentation by Type, History and Forecast, 2015-2020, 2020-2025F, 2030F, in USD Billion
Radiography system (X-rays)
Ultrasound imaging system
Computer tomography imaging system
Video endoscopy imaging system
Magnetic resonance imaging system
6.2. Global Veterinary Imaging Equipment Market, Segmentation by End User, History and Forecast, 2015-2020, 2020-2025F, 2030F, in USD Billion
6.3. Global Veterinary Imaging Equipment Market, Segmentation by Application, History and Forecast, 2015-2020, 2020-2025F, 2030F, in USD Billion
6.4. Global Veterinary Imaging Equipment Market, Animal Type Segmentation, History and Forecast, 2015-2020, 2020-2025F, 2030F, in USD Billion
6.5. Global Veterinary Imaging Equipment Market, Segmentation, History and Forecast, 2015-2020, 2020-2025F, 2030F, in USD Billion
7. Regional and Country Analysis of Veterinary Imaging Equipment Market
7.1. Global Veterinary Imaging Equipment Market, Divided by Region, History and Forecast, 2015-2020, 2020-2025F, 2030F, in USD Billion
7.2. Global Veterinary Imaging Equipment Market, Divided by Country, History and Forecast, 2015-2020, 2020-2025F, 2030F, in USD Billion
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