Reshu Gupta
by on August 9, 2021
Global Veterinary Imaging Market - Overview
The global veterinary imaging market has been evaluated as steadily growing market and it is expected that the market will continue to grow similarly in the near future. Veterinary deals with diagnosis and treatment of diseases in animals. Veterinary imaging devices are useful in diagnosis and treatment of diseases in animals. These devices also gives clear understanding of disease or injury that helps veterinarian for treatment of animal. Increasing awareness about animal healthcare and improvement of animal life are key factors for the growth of the market. Disease pattern in animals are continuously changing and becoming more challenging for veterinarians to diagnose these diseases. Veterinary imaging devices gives them in accurate diagnosis and further treatment. Increasing pet adoption is another major factor for the growth of the market. Increasing number of veterinarians, veterinary clinics and growing veterinary healthcare infrastructure are driving the growth for the market. Cattle are very important part of farming that have economic importance because they provides many products like milk, meat and leather. Farmers are becoming more aware about the health of their cattle which is good sign for the growth of the market. About 75% of veterinarians are working in private hospitals or pet clinics and these hospitals or clinics are spending money in advancement of technology to provide better facilities. Veterinary imaging devices manufacturers are spending money to develop innovative and usable product for the market. However there are some factors are inhibiting the growth of the market such as high cost of devices that small clinics cannot afford, lack of knowledge about new technology or products, availability of products, access to veterinary healthcare facilities, lack of skilled veterinary professionals etc.
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Top Companies:
Atlantis Worldwide (US), Canon Inc. (Japan), Diagnostic Imaging Systems, Inc. (US), Fujifilm Holdings Corporation (Japan), GE Healthcare (US), Hitachi, Ltd (Japan), Medical Imaging / IMCO, Inc. (US), Sectra (Sweden), Siemens AG (Germany), Toshiba Medical Systems Corporation (Japan) are some of the prominent players at the forefront of competition in the Global Veterinary Imaging Market and are profiled in MRFR Analysis.
Global Veterinary Imaging Market - Competitive Analysis
Characterized by the presence of several well-established and small players, the global market of veterinary imaging appears to be highly competitive and fragmented. Major market players who are increasingly expanding their footprint in the developing economy, making it difficult for regional vendors to compete with them, especially in terms of features such as product differentiation, product portfolios, quality, and pricing. The Market is witnessing intensified competition which is expected to get more intensified further during the forecast period. The intense competition prevalent in the market dictates the consolidation among marketers. Therefore, key players ensure that their portfolio includes products both for treating sick animals and for preventing disease occurrence.
December, 2015 - Fujifilm and Anicom Holdings, Inc. entered into partnership and established joint venture for developing and providing cutting-edge veterinary technologies and services with focus on regenerative medicine. According to company reports, it had developed advanced veterinary medicine by combining Fujifilm's advanced production engineering and quality control technology nurtured in its photographic film business as well as diagnostic imaging technology, blood's chemical composition analysis technology and regenerative medical technology, with Anicom's veterinary hospital network, electronic medical record system and extensive animal treatment data. Moreover, the company had conducted science-based clinical research such as regenerative medicine including cell therapies.
Well established players incorporate acquisition, collaboration, partnership, expansion, and product launch in order to gain competitive advantage in this market and to maintain their market position.
Global Veterinary Imaging Market - Regional Analysis
Depending on geographic region, the veterinary imaging market is segmented into four key regions: Americas, Europe, Asia-Pacific, and Middle East & Africa. Considering the global scenario of the market, North America holds be the largest market for veterinary imaging due to increasing awareness about animal healthcare and increasing investment in healthcare domain. Moreover the European market is also growing and second largest market for Veterinary Imaging. On the other hand, Asia-Pacific market is expected to grow at the fastest pace in the Veterinary Imaging market by equipment during the forecasted period. Whereas, The Middle East & Africa have the least market share. Additionally, factors such as lack of awareness, low healthcare expenditures will restrain the market during the corresponding period.
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