(PharmaNewsWire.Com, July 17, 2020 ) The 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.
How the Market Growth looks like and Industry Segmentation?
The Veterinary X-ray Market is projected to reach USD 872 million, at a CAGR of 6.4%.
On the basis of technology, the veterinary X-ray market is segmented into direct radiography (DR), computed radiography (CR), and film-based radiography systems. The computed radiography systems segment accounted for the largest share of the veterinary X-ray market in 2017. Benefits offered by CR systems over traditional X-ray systems, resulting in a large-scale replacement of traditional film X-ray systems, is the major factor responsible for the large share of this segment.
Based on the type of animal, the veterinary X-ray market is segmented into small companion animals and large animals. The small companion animals segment accounted for the largest share of the veterinary X-ray market in 2017. The large share of this segment can be attributed to the growing companion animal population, increasing pet care expenditure, growing demand for pet insurance, and technological advancements in imaging modalities for small companion animals.
- In 2018, Heska Corporation (US) formed a partnership with Pathway Vet Alliance (US). Under the terms of this agreement, Pathway plans to align its internal diagnostic portfolio with Heska, which can provide in-house operational services like point-of-care blood diagnostics, digital imaging, and allergy testing.
- In 2018, Carestream Health signed a service partnership agreement with Med Imaging Healthcare, a Diagnostic Imaging equipment maintenance company. The partnership was aimed at providing wider maintenance coverage and support for Carestream customers across Scotland.
- In 2016, Heska acquired Cuattro Veterinary (US), a company offering flat-panel digital radiography systems. This international expansion provides Heska with a strong and established platform for launching Heska's blood diagnostics platforms and programs to international markets.
Key Questions Addressed in the Report:
- Who are the top 10 players operating in the veterinary X-ray market?
- What are the driving factors, restraints, opportunities, and challenges in the veterinary X-ray market?
- What are the industry trends and current scenario of the veterinary X-ray market?
- What are the growth trends in the veterinary X-ray market at segmental and overall market levels?
North America accounted for the largest share of the veterinary X-ray market, followed by Europe and the Asia Pacific. Rising number of veterinary practices, increasing number of companion animals, and rising companion animal healthcare expenditure are some of the key factors driving the growth of the veterinary x-ray market in North America.
Major Key Players Mapped in Research Report:
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).
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