Key Prominent Players Covered in the Veterinary Imaging Market Research Report Are GENERAL ELECTRIC COMPANY, Agfa-Gevaert Group, Esaote SpA, Siemens Healthineers AG, Heska Corporation, IDEXX Laboratories, Inc., FUJIFILM Holdings Corporation, Carestream Health, Canon Medical Systems Corporation, Philips N.V. and other key market players.
Pune, India, Nov. 20, 2020 (GLOBE NEWSWIRE) -- The global veterinary imaging market is set to gain impetus from the increasing shift towards digital X–ray detectors. They are capable of storing images digitally, fully implementing the picture archiving and communication system (PACS), and making the images available anywhere at any time. Fortune Business Insights™ mentioned this information in a new report. The report further states that the veterinary imaging market size was USD 1.46 billion in 2019 and is projected to reach USD 2.07 billion by 2027, exhibiting a CAGR of 6.1% during the forecast period. North America held USD 0.70 billion in terms of revenue.
Key Players Aim to Broaden Their Presence through Acquisitions & Partnerships
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Rising Demand for Early Diagnosis of Veterinary Diseases will Drive Growth
The rising awareness of multiple veterinary diseases and the possible methods of their early diagnosis would propel the animal imaging market growth in the near future. Also, the spread of animal diseases can severely affect economies and lives. The outbreak of livestock diseases can be a burden on the economy of those countries relying mainly on animals.
Hence, early diagnosis is experiencing high demand. However, the lack of well-qualified and trained professionals is set to hamper the demand for veterinary imaging systems in emerging nations.
COVID-19: Cancellation or Postponement of Non-Essential Services to Decline Growth
The outbreak of the COVID-19 pandemic has taken a toll on the market by postponing or cancelling non-essential services. Veterinary practices are currently undergoing multiple changes to help patients receive vital care. Besides, new measures to prevent the transmission of coronavirus were deployed in healthcare institutes. We are providing accurate research reports for making you better understand the scenario of the global veterinary imaging market.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/industry-reports/veterinary-imaging-equipment-market-100522
Orthopedics Segment Generated 27.0% Share Owing to High Demand
Based on application, the orthopedics segment earned 27.0% in terms of veterinary imaging systems market share in 2019 and is set to dominate throughout the forthcoming years. This growth is attributable to the increasing demand for these veterinary imaging procedures backed by the surging prevalence of orthopedic diseases among livestock and pet animals.
Increasing Employment in Veterinary Sector to Aid Growth in North America
Geographically, in 2019, North America held USD 0.70 billion in terms of revenue. The favorable reimbursement scenario, rising employment in the veterinary sector, huge expenditure on pet care, and increasing adoption of pet animals in Canada and the U.S. are likely to accelerate growth in this region.
Europe, on the other hand, is expected to retain its second position backed by the growing number of veterinary clinics, increasing adoption of pet animals, improved healthcare infrastructure, and rising prevalence of veterinary diseases. Lastly, Asia Pacific would showcase the highest CAGR in the coming years fueled by the rising awareness of all the risks associated with zoonotic diseases.
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A list of all the prominent veterinary imaging manufacturers operating in the market:
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Table of Contents:
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SECONDARY DATA SOURCES THAT WE REFER TO:
SECONDARY RESEARCH IS CONDUCTED TO DERIVE THE FOLLOWING INFORMATION:
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