PUBLISHER: Inkwood Research | PRODUCT CODE: 1214649
PUBLISHER: Inkwood Research | PRODUCT CODE: 1214649
The North America veterinary imaging market is projected to grow with a CAGR of 4.97% during the forecasted period of 2023 to 2032. Some of the top drivers encouraging the growth of the region's market include the enforcement of strict regulations by federal as well as state governments to improve animal welfare, the rising number of pets and other domestic animals, and the growing willingness of pet owners to spend on veterinary services.
The North America veterinary imaging market growth evaluation comprises the analysis of Canada and the United States. In Canada, according to a report, the population of pets increased in 2018 as compared to the previous years, with 41% of households having at least one dog and 38% having at least one cat. Canada, together with the United States, are large markets for pet insurance, with the collective number of pets insured recording substantial growth over the years.
On the other hand, owing to the increased revenue from livestock products in the region, farmers are largely investing in the welfare of their livestock in order to maintain the health of the animals to produce quality products. Therefore, the increased pet ownership and concerns regarding the welfare of the animals are expected to stimulate the North America veterinary imaging market growth during the projection period.
Some of the major players operating in the market include: GE Healthcare, IMV Imaging, Fujifilm Sonosite Inc, etc