The global veterinary CT scanner market is estimated to grow at a CAGR of 7.3% from 2017 to 2022, to reach USD 173.7 million by 2022. The growth of this market is majorly driven by the increasing small companion animal population, growing pet adoption, rising demand for pet insurance with growing animal health expenditure, growing number of veterinary practitioners and their income levels in developed economies, and innovation in veterinary CT scanners. However, the high cost of CT scanners may hinder the growth of this market to a certain extent during the forecast period.
The portable CT scanners segment is expected to grow at the highest CAGR during the forecast period
On the basis of type, the veterinary CT scanner market is segmented into stationary multi-slice CT scanners and portable CT scanners. The portable CT scanners segment is expected to witness the highest growth during the forecast period. The growth of this segment is mainly due to the growing adoption of portable CT scanners for on-field, mobile, or ambulatory veterinary diagnosis.
The mid-end CT scanners segment is projected to witness the highest growth during the forecast period
Based on the type of stationary multi-slice CT scanners, the veterinary CT scanner market is further classified into
mid-end CT scanners, high-end CT scanners, and low-end CT scanners. The mid-end CT scanners segment is expected to grow at the highest CAGR during the forecast period. Due to their lower prices (as compared to high-end CT scanners) and easy handling, these scanners are increasingly preferred over other CT scanners. Additionally, these scanners provide enhanced image quality & spatial imaging, increased scan speed, higher resolution, greater accuracy on on-the-spot diagnosis, and advanced image post-processing. Owing to these advantages, the adoption of mid-end CT scanners is expected to increase in the coming years.
The small companion animals segment is expected to grow at the highest CAGR during the forecast period
On the basis of animal type, the market is segmented into small companion animals, equine & livestock, and other animals. During the forecast period, the small companion animals segment is expected to grow at the highest CAGR. The growing population of small companion animals, rising pet ownership, increasing pet healthcare expenditure, and growing demand for pet insurance are the major factors driving the growth of this segment.
In 2016, the neurology segment accounted for the largest share of the market
Based on application, the veterinary CT scanner market is segmented into neurology, oncology, orthopedics & traumatology, and other applications. During the forecast period, the neurology segment is expected to grow at the highest CAGR. The large share of this segment can mainly be attributed to the increasing prevalence of common brain disorders affecting the nervous system of animals, such as epilepsy, brain cancer/tumors, ischemic infarcts (stroke), encephalitis, hydrocephalus, and traumatic brain injuries.
Asia Pacific to witness the highest growth during the forecast period
North America held the largest share of the global veterinary CT scanner market in 2016, while Asia Pacific is expected to witness the highest growth during 2017 to 2022. Growth in pet adoption, increasing awareness about animal health, and growing per capita animal health expenditure, especially in India and China, are contributing to the growth of the APAC veterinary CT scanner market.
Break of primary participants was as mentioned below:
- By Company Type – Tier 1–45%, Tier 2–40% and Tier 3–15%
- By Designation – C Level–41%, Director Level–30%, Others–29%
- By Region – North America–35%, Europe–30%, Asia Pacific–15%, Latin America–10%, the Middle East and Africa–10%
Some of the major market players in the veterinary CT scanner market are GE Healthcare (US), Canon, Inc. (Toshiba Medical Systems Corporation) (Japan), Siemens AG (Siemens Healthineers) (Germany), Samsung Electronics Co. Ltd. (NeuroLogica Corporation) (South Korea), Epica Medical Innovation (US), Hitachi, Ltd. (Japan), Koninklijke Philips N.V. (Netherlands), Animage, LLC (US), GIN ApS (Denmark), QR s.r.l. (Italy), and 4DDI (US).
The report analyzes the veterinary CT scanner market and aims at estimating market size and future growth potential of this market based on various segments such as type, animal type, application, end user, and region. The report also includes an in-depth regulatory analysis for various regions across the globe and competitive analysis of the key players in this market along with their company profiles, product offerings, recent developments, and key market strategies.
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The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help them, garner a greater share. Firms purchasing the report could use one or any combination of the below-mentioned five strategies for strengthening the market.
This report provides insights on the following pointers:
- Market Penetration: Comprehensive information on product portfolios offered by the top players in the global veterinary CT scanner market.
- The report analyzes the global veterinary CT scanner market by type, animal type, application, end user, and region.
- Service Enhancement/Innovation: Detailed insights on upcoming trends and new product launches in the global veterinary CT scanner market.
- Market Development: Comprehensive information on the lucrative emerging markets by type, animal type, application, end user, and region.
- Market Diversification: Exhaustive information about new products or product enhancements, growing geographies, recent developments, and investments in the global veterinary CT scanner market.
- Competitive Assessment: In-depth assessment of market shares, growth strategies, product offerings, and capabilities of leading players in the global veterinary CT scanner market.