“Global Veterinary X-ray Market Projected to Grow at a CAGR of 6.4% During 2018–2023”
The global veterinary X-ray market is projected to reach USD 872 million by 2023 from USD 640 million in 2018, at a CAGR of 6.4% from 2018 to 2023. Rising animal health expenditure and growing demand for pet insurance, increasing number of veterinary practitioners in developed regions, and growth in the companion animals market are the primary drivers for the veterinary X-ray market during the forecast period. However, the increasing cost of pet care and the high cost of veterinary X-ray equipment and procedures are expected to restrain the growth of this market to a certain extent.
“Direct Radiography Systems to Register the Highest Growth During the Forecast Period”
On the basis of technology, the veterinary X-ray market is segmented into direct, computed, and film-based radiography systems. The direct radiography systems segment is expected to register the highest CAGR during the forecast period. Growth in this segment is mainly attributed to the rising demand for higher quality images with quick turnaround time and the increasing focus towards radiological dose efficiency.
“Digital X-ray Systems to Witness the Highest CAGR During 2018–2023”
Based on type, the veterinary X-ray market is segmented into digital X-ray systems and analog X-ray systems. The digital X-ray systems segment is expected to register the highest CAGR during the forecast period. The high growth of this segment is attributed to the number of benefits offered by digital X-ray systems over analog systems, including cost savings, improved efficiency and productivity, and patient-centric, value-based imaging. Reduced scan times and improved image quality are also key factors driving the adoption of digital radiography systems.
“APAC to be the Fastest-growing Region in the Veterinary X-ray Market During the Forecast Period”
The Asia Pacific market is projected to register the highest growth rate during the forecast period. Factors such as growing livestock population, increasing pet adoption, rising awareness about animal health, and growing per capita animal health expenditure are some of the key factors driving the growth of the veterinary X-ray market in the Asia Pacific region.
Break of primary participants was as mentioned below:
- By End User: Tier 1: 33%, Tier 2: 45%, and Tier 3: 22%
- By Designation: C-level: 22%, Director-level: 45%, and Others: 33%
- By Region: North America: 34%, Europe: 22%, Asia Pacific: 22%, Latin America: 11%, and the Middle East & Africa: 11%
The prominent players in the veterinary X-ray market are IDEXX (US), Fujifilm (Japan), Onex Corporation (Canada), Sedecal (Spain), Agfa-Gevaert (Belgium), Sound Technologies (US), Fujifilm Holdings Corporation (Japan), Canon, Inc. (Japan), Examion (Germany), Konica Minolta (US), DRE Veterinary (US), and Heska Corporation (US).
The report analyzes the various types of veterinary X-ray equipment and their adoption pattern. It aims at estimating the market size and future growth potential of the global veterinary X-ray market for different segments such as technology, type, animal type, application, mobility, end user, and region. The report also includes an in-depth competitive analysis of the key players in this market along with their company profiles, product offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report
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 their presence in 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 X-ray market. The report analyzes the global veterinary X-ray market by technology, type, animal type, application, mobility, end user, and region
- Product Development/Innovation: Detailed insights on upcoming trends and new product launches in the global veterinary X-ray market
- Market Development: Comprehensive information on the lucrative emerging regions by technology, type, animal type, application, mobility, end user, and region
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the global veterinary X-ray market
- Competitive Assessment: In-depth assessment of market shares, growth strategies, and products of leading players in the global veterinary X-ray market