2020 Analysis and Review: Veterinary Imaging Market by Application – Cardiology, Orthopedic, Neurology, and Oncology for 2020-2030
Dubai, United Arab Emirates - April 21, 2021 /MarketersMedia/ —
FMI states in its recent study on the veterinary imaging market that the market will record a CAGR of over 6.4% through 2030. Demand for veterinary Imaging is anticipated to continue surging particularly due to the increase in expenditure on pet insurance and animal health care.
"Veterinary imaging is finding increasing use in traumatology and orthopedics. With a steep increase in injuries amongst animals, the demand for precise diagnostic solutions has been growing at an exponential rate. This has also increased the availability of animal care facilities." says the FMI analyst.
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Veterinary Imaging Market - Important Highlights
To develop new drugs and therapeutic alternatives, demand for clinical trials is anticipated to increase all over the world.
The use of magnetic resonance imaging (MRI) systems continues to develop at a constant rate.
As animal welfare is an expensive thing, individuals are changing their resources to pet insurance
North America and Europe are anticipated to lead the market during the forecasted period.
Veterinary Imaging Market - Drivers
In the past few years, the market for the meat and dairy products has seen a large increase. It also requires the animals to be better looked after which will generate growth prospects.
During the projected era, a growing focus on preserving animal welfare and well-being is expected to generate major opportunities for market players.
At any point of drug production, small animal imaging systems are being widely used. In the years to come, this factor is expected to affect the veterinary imaging industry positively.
Veterinary Imaging Market - Restraints
The majority of veterinary practices, with tight budgetary restrictions, are small or medium-sized; the high cost of these programs is also a significant business restriction.
The absence of proper knowledge and research about its benefits among certain masses will hinder the growth
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COVID-19 Impact on Veterinary Imaging Market
While the Covid-19 epidemic has thrown life out of gear all over the globe, there has been marked stability in the veterinary imaging sector.
People in the middle of mandatory lockout have turned to pet treatment. The growth in demand for veterinary imaging systems has resulted from this trend.
As of Mar 2020, this situation has been observed. It is anticipated to continue surging. as normal life is getting restored, it won't wean off the presence of pets in the form of companions.
Competitive Landscape
The veterinary Imaging market players are leaning towards the expansion of the production facilities besides opting for strategic collaborations to attain a competitive edge. Also, existing players work with local players to expand their distribution networks. For instance, In June 2017, DEXX Laboratories, Inc. entered into a partnership arrangement with rVetLink to further broaden product penetration focused on cloud technologies.
A few of the key companies functioning in the global market include Carestream Health Hallmarq Veterinary Imaging Ltd., SUNI Medical Imaging, Universal Medical Systems, Inc., VetZ Limited, FUJIFILM Holdings America Corporation, GE Healthcare
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About the Study
The study offers readers a comprehensive assessment of the veterinary Imaging market. Global, regional, and national-level analysis of the latest trends influencing the market is covered in this FMI report. The study provides insights based on product type (Equipment, Software, Imaging Reagent), Application(Cardiology, Orthopedics, Neurology, Oncology, and others), Animal type ( Small and large), and across key regions (North America, Latin America, Europe, China, Asia Pacific, Middle East & Africa).
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Contact Info:
Name: Abhishek Budholiya
Email: Send Email
Organization: Future Market Insights
Website: https://www.futuremarketinsights.com/reports/veterinary-imaging-market
Source: MarketersMedia
Release ID: 89006321
