Veterinary Imaging Equipment Global Market Report 2023

“Veterinary Imaging Equipment Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on veterinary imaging equipment market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

• Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
• Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
• Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
• Measure the impact of high global inflation on market growth.
• Create regional and country strategies on the basis of local data and analysis.
• Identify growth segments for investment.
• Outperform competitors using forecast data and the drivers and trends shaping the market.
• Understand customers based on the latest market shares.
• Benchmark performance against key competitors.
• Suitable for supporting your internal and external presentations with reliable high quality data and analysis
• Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
• All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for veterinary imaging equipment ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The veterinary imaging equipment market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of COVID-19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

1) By Type: Radiography (X-Ray) System; Ultrasound Imaging System; Computed Tomography Imaging System; Video Endoscopy Imaging System; Magnetic Resonance Imaging System; Other Types

2) By End User: Veterinary Hospitals; Veterinary Clinics; Academic and Research Organizations; Other End Users

3) By Application: Orthopedics And Traumatology; Oncology; Cardiology; Neurology; Other Applications

4) By Animal Type: Small Companion Animals; Large Animals; Other Animal Types

5) By Modality: Portable; Stationery

Companies Mentioned: Agfa-Gevaert N.V.; Canon Inc.; Excelsior Union Limited; Fujifilm Holdings Corporation; Hitachi Ltd.

Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA

Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

Time series: Five years historic and ten years forecast.

Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,

Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.

Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.

Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Major players in the veterinary imaging equipment market are: Agfa-Gevaert N.V., 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 will grow from $1.76 billion in 2022 to $1.88 billion in 2023 at a compound annual growth rate (CAGR) of 6.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The eterinary imaging equipment market is expected to grow from $2.43 billion in 2027 at a CAGR of 6.6%.

The veterinary imaging equipment market consists of sales of positron-emission tomography, nuclear medicine imaging, fluoroscopy, and echocardiography. Values in this market are: 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

Veterinary imaging equipment refers to veterinary diagnostic equipment such as radiography, X-ray, ultrasound imaging, MRI, CT imaging, endoscopy imaging, and other imaging equipment. used to obtain medical images of animals for the diagnosis of various diseases. This industry includes establishments that produce diagnostic equipment that is used in cardiology, orthopaedics & traumatology, oncology, neurology, and others.

The main types of veterinary imaging equipment are radiography (x-ray) systems, ultrasound imaging systems, computed tomography imaging systems, video endoscopy imaging systems, magnetic resonance imaging systems, and other types and are used for small companion animals, large animals, and other animal types. Ultrasound imaging equipment refers to the imaging equipment that is used for animals to diagnose a disease. The different modalities include portable and stationary. These are applicable in orthopaedics and traumatology, oncology, cardiology, neurology, and other applications. Veterinary imaging equipment is used in veterinary hospitals, veterinary clinics, academic and research organizations, and other end users.

The rising livestock population is anticipated to boost the demand for veterinary imaging equipment. The surge in the livestock population and associated diseases is expected to drive the demand for veterinary medical equipment, including veterinary imaging equipment, to diagnose and treat various diseases in animals. For instance, according to the Food and Agriculture Organization of the United Nations, the global cattle population is projected to increase to 2.6 billion by 2050 and the global population of goats and sheep is predicted to reach 2.7 billion by the end of 2050. Consequently, growth in the livestock population is expected to trigger the demand for veterinary imaging equipment in the forecast period.

The high cost of veterinary imaging systems is expected to limit the growth of the veterinary imaging equipment market over the coming years. Veterinary imaging equipment is considered to be costly, which is likely to be a major challenge for veterinary hospitals and clinics. For instance, the veterinary digital radiography systems cost ranges between $25,000 and $50,000. The cost of ultrasound devices is estimated to range from $2,000 to $3,000 for small portable machines, and large machines can range from $50,000 and more. In addition to this, the maintenance agreement cost is estimated to be around 15% of the purchase price. Therefore, the high cost of veterinary imaging equipment and associated maintenance costs will act as a key factor to hinder the market's growth.

Key companies operating in the veterinary imaging equipment market are focusing on the launch of portable or wireless devices to provide better solutions for effective veterinary technologies, which is projected to be a leading trend in the veterinary imaging equipment market. For instance, in September 2022, Planmed, a Ginland-based designer and manufacturer of imaging systems, launched launched Planmed Verity® VET - a high-resolution CT scanner for veterinary 3D imaging. It is a standalone cone beam CT scanner created especially for imaging animals. The animal's skeletal structures, including the teeth, skull, and extremities, are represented in incredibly precise submillimeter-resolution 3D pictures. Its precise volumetric images allow for consistently accurate diagnosis and treatment planning. The portable and small Planmed Verity VET scanner makes it simple to access 3D imaging when necessary and brings it right to the patient.

In September 2021, Mindray, a company operating in veterinary imaging equipment based in China, acquired HyTest Invest Oy and its subsidiaries for an undisclosed amount. With this acquisition, HyTest Company enables Mindray to have top-notch raw material R&D and innovation capabilities and also helps in investing in R&D as well as strengthening and improving its competitive edge. Hytest is a company operating in veterinary imaging equipment based in Finland.

The countries covered in the veterinary imaging equipment market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, USA.

The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).

The revenues for a specified geography are consumption values - that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.

The veterinary imaging equipment research report is one of a series of new reports from The Business Research Company that provides veterinary imaging equipment statistics, including veterinary imaging equipment industry global market size, regional shares, competitors with veterinary imaging equipment share, detailed veterinary imaging equipment segments, market trends and opportunities, and any further data you may need to thrive in the veterinary imaging equipment industry. This veterinary imaging equipment research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.