Global Veterinary Imaging Equipment Market Report 2022
The major players in the veterinary imaging equipment market are Agfa-Gevaert NV and Canon Inc. and Excelsior Union Limited, Fujifilm Holdings Corporation, and Hitachi Ltd. and Onex Corporation, Siemens AG, GE Healthcare, Chison, and IDEXX.
NEW YORK, May 26, 2022 (GLOBE NEWSWIRE) – Reportlinker.com announces the release of “Global Veterinary Imaging Equipment Market Report 2022” – https://www.reportlinker.com/p06281016/?utm_source=GNW
The global veterinary imaging equipment market is expected to grow from $1.65 billion in 2021 to $1.76 billion in 2022, at a compound annual growth rate (CAGR) of 6.7%. The market is expected to grow to $2.27 billion in 2026 with a compound annual growth rate (CAGR) of 6.6%.
The veterinary imaging equipment market consists of sales of veterinary imaging equipment by entities (organizations, sole dealers, partnerships) that produce veterinary diagnostic equipment used to obtain medical images of animals for the diagnosis of various diseases, and this industry includes establishments that produce diagnostic equipment such as radiography, x-rays and ultrasound imaging. Ultrasound, magnetic resonance imaging, computed tomography, endoscopic imaging and other imaging equipment.
These imaging systems are used in cardiology, orthopedics, traumatology, oncology, neurology, and more.
The main types of veterinary imaging equipment are radiographic (X-ray) system, ultrasound imaging system, computed tomography system, video endoscopic imaging system, magnetic resonance imaging system, and other types and are used to accompany small animals, large animals, and other animals indicating equipment Ultrasound imaging is the imaging equipment used for animals to diagnose disease.
Various methods include portable and fixed, and they are applicable in orthopedics, traumatology, oncology, cardiology, neurology and other applications.
Veterinary imaging equipment is used in veterinary hospitals, veterinary clinics, academic and research institutions, and other end users.
North America was the largest region in the veterinary imaging equipment market in 2021. The Asia Pacific region was the second largest region in the veterinary imaging equipment market. The regions covered in this report are Asia Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East and Africa.
The increasing numbers of livestock are expected to increase the demand for veterinary imaging equipment, and the significant increase in the numbers of livestock and related diseases is expected to increase the demand for veterinary medical equipment including veterinary imaging equipment for the diagnosis and treatment of various diseases in animals.
For example, the number of global cattle or cattle increased to 989.03 million in 2019. Moreover, according to the Food and Agriculture Organization of the United Nations, the global livestock population is expected to rise to 2.6 billion by 2050 and the number of goats and goats in the world is expected to increase Sheep will reach 2.7 billion by the end of 2050. As a result, growth in livestock numbers is expected to increase demand for veterinary imaging equipment in the forecast period.
The high cost of veterinary imaging systems is expected to limit the growth of the veterinary imaging equipment market over the coming years, as veterinary imaging equipment is considered to be expensive, which is likely to present a significant challenge for veterinary hospitals and clinics.
For example, veterinary digital radiography systems cost between $25,000 and $50,000, ultrasound machines cost anywhere from $2,000 to $3,000 for small portable machines and larger machines can range from $50,000 and more.
In addition, the cost of the maintenance agreement is estimated at about 15% of the purchase price. Therefore, the high cost of veterinary imaging equipment and associated maintenance cost is a major factor holding back the growth of the market.
The main companies involved in veterinary imaging equipment focus on launching portable or wireless devices to provide better solutions for efficient veterinary technologies, which is expected to be a leading market for veterinary imaging equipment. For example, in November 2019, Butterfly Network, Inc. , a US-based digital healthcare company, announced the launch of the Butterfly iQ Vet, a new ultrasound device with ultrasound technology on a chip for veterinary application. Butterfly iQ Vet provides better access to medical imaging and enables veterinarians to make improved care decisions.
In September 2021, Mindray, a China-based veterinary imaging equipment company, acquired HyTest Invest Oy and its subsidiaries for an undisclosed amount. Through this acquisition, HyTest Mindray has first-class R&D and innovation capabilities. in raw materials as well as also helping to invest in research and development as well as enhancing and improving its competitiveness.
Hytest is a veterinary imaging equipment company based in Finland.
Countries covered in Veterinary Imaging Equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06281016/?
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