Veterinary CT Scanner Market – A Brief Summary
Veterinary CT scanners are imaging equipment that is used for diagnosing various anomalies in animal health. With the help of these CT scanners, veterinary practitioners are able to improve animal care with enhanced safety and affordability. As a result, veterinary CT scanners witness a considerable amount of uptake and demand in the market.
Veterinary healthcare is increasingly gaining prominence due to the increasing awareness of animal healthcare. People are increasingly becoming sensitive towards animal physiology, psychology, and overall health. The increased sensitivity is just not limited to their pets or domestic animals but, it has widened towards wild, reptiles, and venomous animals too. Resultantly, the veterinary CT scanner market is growing pervasively.
Considering the rapid expansions, the market perceives currently and the potential this market holds to grow further, Market Research Future (MRFR) in its recently published veterinary CT scanner market trends study report, asserts that the global industry will garner exponential accruals with approximately 7.40% CAGR and is expected to reach approximately USD 180.7 billion by 2030.
There has been a significant expansion in the market for veterinary medical devices and surgical instruments. The pet care sector has been encouraging the market growth, enabled by the rise of the veterinary population, environmental changes, and increasing consumption of animal protein by humans.
Moreover, the continual surge in the prevalence of veterinary diseases along with expensive treatment procedures is boosting the veterinary CT scanner market. Additional factors contributing to the upsurge of the market include the increasing pet adoption, the growing companion animal population, and increasing number of veterinary practitioners.
On the other hand, the high cost of these CT scanners is expected to impede the market to a certain extent during the forecast period. Nevertheless. The increasing improvement in pet insurance policies and rising animal health expenditure is expected to support market growth.
Global Veterinary CT Scanner Market – Segmentation
MRFR has segmented its analysis into six key dynamics for enhanced understanding.
By Type : Multi-Slice CT Scanners and Portable CT Scanners.
By Device Architecture : C-arm CT scanners and O-arm CT scanners.
By Animal : Small Companion Animals, Equine and Livestock, among others.
By Application : Neurology, Oncology, Orthopedics & Traumatology, Cardiology, Nephrology, Dentistry, Gastroenterology, and Respiratory, among others.
By End-user : Veterinary Hospitals, Veterinary Clinics, University Teaching Hospitals, and Academic Institutes among others.
By Region : Europe, North America, APAC and Rest-of-the-World.
Global Veterinary CT scanner Market – Geographical Analysis
North American region accounts for the leading position in the veterinary CT scanner market due to favorable reimbursement scenarios and the large and organized industry in the region. Moreover, technological innovations in the manufacturing of these CT scanners is boosting the growth of the regional market. Simultaneously, the presence of a large number of patients’ pool contribute to an increase in the demand of veterinary CT scanner in the US.
Canada is focusing on exporting that scanning equipment to the countries, worldwide, which is increasing the market size in the region. Also, the increasing number of veterinary hospitals, availability of technologies and advent techniques fuel the market growth.
The European region stands the second largest market for veterinary CT scanner, globally. It is expected that the increasing improvements in reimbursement policies are likely to drive the European veterinary CT scanner market. Increase in chronic diseases in animals has led to increase the demand for CT scans in the number of the veterinary healthcare organization. European countries like the U.K., Germany, and France spend a lot on the manufacturing of scanning devices for the veterinary requirement.
The Asia Pacific region, on the other hand, is emerging as a promising market for veterinary CT scanners. The region is estimated to exhibit the fastest growth rate throughout the forecast period owing to the increasing awareness about animal health and increasing per capita animal health expenditure, especially in China and India.
The steady growth in companion animal ownership in emerging markets such as India, China, Brazil, and the other APAC and Latin American countries serves as a significant growth opportunity for market players in the veterinary CT scanner market.
Global Veterinary CT scanner Market – Competitive Analysis
The fiercely competitive market of veterinary CT scanner appears to be fragmented with many small and large-scale players churning the competition in the market. Mergers & acquisitions, and innovation remain the popular trends for the key players in the market. The structure of the veterinary CT scanner market is changing due to the acquisition of local manufactures by multinational companies. These MNCs are adopting strategic initiatives such to increase the profit as well as to reduce the competition significantly.
Some of the leading players holding the veterinary CT scanner market share are Canon, Inc. (Toshiba Medical Systems Corporation – Japan), GE Healthcare (U.S.), Epica Medical Innovation (U.S.), Samsung Electronics Co. Ltd. (NeuroLogica Corporation) (South Korea), Siemens AG (Siemens Healthineers – Germany), Koninklijke Philips N.V. (Netherlands), Animage, LLC (U.S.), Hitachi, Ltd. (Japan), GIN ApS (Denmark), 4DDI (U.S.), and QR s.r.l. (Italy) among others.
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