ALBANY, New York, March 12, 2020 /PRNewswire/ -- Pets are not just a plaything for owners in this day and age. They are companions and thus are treated like family members. Besides, they often help people with serious medical conditions such as cerebral palsy to lead better lives. This expansion of role is driving demand for better care and diagnostics, propelling the veterinary radiography market chart high growth from 2019 to 2027.
As per Transparency Market Research, "The massive shift of role from pets to companions will lead to higher expenditure on the health and well-being of these animals, leading the global veterinary radiography system market to further growth. The market is set to chart a CAGR of approximately 6% from 2019 to 2027, pulling up its worth to USD 0.8 bn. by the end of the forecast period. It is a notable increase from USD 0.5 bn. in the year 2018."
Digital Radiography Segment to See Growth in Market Share from 2019 to 2027
The segment for film screen radiography will chart sluggish growth in the stated period due to limited applications, while digital radiography will witness notable growth owing to increase in its preference in the market landscape. It is significant to note here that the latter is riding the wave of environmental consciousness and increasing awareness regarding efficiency and cost benefits of going digital. The reduction in administrative efforts and the advantage of high quality images is largely working in favor of digital radiography, promising higher growth for the market segment.
Small Animal Segment to Contribute Massively to Veterinary Radiography Systems Market
Owing to a humongous increase in adoption of small pets such as dogs, pigs and cats, the segment is set to expand at a considerable pace over the forecast period. It is worth noting here that pet owners are spending billions of dollars on their 'companions' health and wellbeing. This is anticipated to push the global veterinary radiography system market on a higher trajectory.
For a detailed analysis of global veterinary radiography system market by Product: Digital X-ray [Direct and Indirect] and Analog X-ray; Technology: Computed Radiography, Digital Radiography, and Film Screen Radiography; Animal: Small Companion Animals and Large Animals; Indication: Orthopedic & Rheumatology, Cardiology, Oncology,Nephrology, and Others; and End User: Veterinary Hospitals, Veterinary Clinics, and Diagnostic Canters & Research Centers, Download the Sample Copy of Research
North America to Lead Global Veterinary Radiography Systems Market
The North American region is witnessing notable increase in pet adoption in households, helping it account for a major market share over the forecast period. The contribution of United States of America is particularly high in the overall regional growth. Additionally, it is marked by high disposable income and high awareness regarding pet health, keeping the region buoyant.
However, it is worth noting that Asia Pacific and Europe demonstrate high growth potential and this is set to keep players focused on these regions for any opportunities that might arise over the forecast period.
Analyze veterinary radiography system market's growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea.
Strategic Collaborations to Help Players Gain a Stronger Foothold in the Market Landscape
Players aim at strengthening market position by forging strategic alliances. An instance of such a move include the merger between IMV technologies, and BCF and ECM in the year 2017. Another instance is that of the acquisition of Toshiba Medical Systems by Canon, Inc. in the year 2016.
Key players in market include Sound (VCA, Inc.), Canon, Inc., Fujifilm Holdings America Corporation, Diagnostic Imaging Systems, Merry X-Ray Corporation, Sedecal, IMV imaging, DRE Medical, and Midmark Corporation. Few distributors include Triangle X-Ray Company, Ozark Imaging, and United Radiology Systems, Inc.
Global Veterinary Radiography System Market: Segmentation
Veterinary Radiography System Market, by Animal
Small Companion Animals
Veterinary Radiography System Market, by Technology
Film Screen Radiography
Veterinary Radiography System Market, by Indication
Orthopedic & Rheumatology
Veterinary Radiography System Market, by Product
Veterinary Radiography System Market, by End User
Diagnostic Centers & Research Centers
Veterinary Radiography System Market, by Region
Rest of Europe
Australia & New Zealand
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
Rest of Middle East & Africa
Explore Transparency Market Research's award-winning coverage of the global Healthcare industry:
Digital X-ray Systems Market - Some of the factors driving the growth of global digital x-ray system market are rise in geriatric population, increasing prevalence of dental, respiratory, cardiovascular, and other diseases. Increasing awareness programs and conferences, increasing number of systems being approved by regulatory bodies, and rise in government investment and funding is also boosting the global market. In addition, favorable returns on investment for digital x-ray systems is also fueling the growth of the global digital x-ray system market.
Dental Radiography Systems Market - Increase in prevalence of oropharyngeal cancer and oral cavity is a key driver of the global dental radiography systems market. Furthermore, changes in lifestyle are boosting the global dental radiography systems market. Moreover, rise in awareness regarding invasive surgeries and biopsy for oropharyngeal cancer is propelling the global dental radiography systems market. Consumption of alcohol and tobacco poses the highest risk for oropharyngeal cancer and oral cavity. Poor educational system in underdeveloped countries is a major restraint of the global dental radiography systems market.
Diagnostic Imaging Market - The global diagnostic imaging market was valued at around US$ 28.0 Bn in 2017. It is estimated to reach a value of more than US$ 47 Bn by 2026, expanding at a CAGR of 6.0% during the forecast period. Rise in prevalence of chronic diseases, such as cancer and cardiovascular events, increase in the geriatric population, and advancements in technologies to develop various diagnostic imaging devices to be used in different surgical procedures are key factors that are estimated to propel the market during the forecast period.
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