The Global Veterinary Imaging Market is anticipated to gain momentum from a rise in the demand for effective diagnostic tools. According to Fortune Business Insights, in a report, titled, “Veterinary Imaging Equipment Market Size, Share and Global Trend by Product (Digital Radiography, Magnetic Resonance Imaging (MRI), Computed Tomography, Ultrasound Systems, Nuclear Medical Imaging), by Modality (Portable, Stationary), by Animal (Small Companion Animals, Large Animals), by End User (Veterinary hospitals, Veterinary clinics, Academic & Research organizations), and Geography Forecast till 2026,” advanced precision and superior image quality are few of the major factors that are likely to contribute to the growth of the global veterinary imaging equipment market.
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Reduction in Imaging Duration Likely to Favor Growth of the Digital Radiography Segment
The report classifies the global veterinary imaging equipment market on the bases of five segments, namely, by product, by modality, by animal, by end user, and by geography. By product, the market is further divided into computed tomography, digital radiography, nuclear medical imaging, magnetic resonance imaging, ultrasound systems, and others.
Amongst these, the segment of digital radiography is projected to lead the global veterinary imaging equipment market during the forecast period. This is because radiography aids in reducing the duration of imaging as well as provides high quality images.
In terms of modality, the market is grouped into stationary and portable. By animal, the market is segmented into large animals and small companion animals. In terms of end user, the market is divided into veterinary clinics, academic and research organizations, veterinary hospitals, and others.
Amongst these, the veterinary clinics segment is likely to hold a major portion of the market share. This is because there has been a rise in the number of emergency cases of pets due to chronic diseases. Also, the number of veterinarians have increased.
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Rise in the Incidence of Diseases in Animals is Likely to Boost Demand in Asia Pacific
The global veterinary imaging equipment market is geographically divided into Latin America, Asia Pacific, the Middle East and Africa, North America, and Europe. Amongst these, North America is projected to lead the global veterinary imaging equipment market during the forecast period. This is likely to occur due to a rise in the awareness regarding advanced animal imaging technologies, increasing number of pet population, and growing cases of zoonotic diseases.
Additionally, numerous governmental organizations are investing huge amounts on the development of technologically advanced veterinary imaging technology. Leading market players are persistently involving themselves in strategic collaborations. All these factors are anticipated to drive the growth of the global veterinary imaging equipment market in North America. Asia Pacific, on the other hand, is projected to exhibit a considerably high growth rate in the coming years. This is due to an increasing number of diseases in animals, namely, avian influenza, mouth and foot diseases, heartworm disease, etc.
Telerad Tech, BCF, and Other Prominent Key Players Focus on Advanced Imaging Software Tools to Enhance Growth
Telerad Tech, a provider of radiology software solutions on cloud, based in the U.S.A., unveiled its proprietary veterinary radiology software called VETSpa, in April 2018. The launching event took place at the BSAVA Congress, a global veterinary event that was held in Birmingham in the U.K. In May 2018, BCF and Echo Control Medical SAS, two of the most prominent veterinary imaging equipment companies merged to form a brand new imagining division named IMV imaging, within the IMV Technologies group.
Some of the major companies that are present in the global veterinary imaging equipment market are Siemens AG, Esaote SpA, General Electric Company, Onex Corporation, Agfa-Gevaert Group, Hitachi, Ltd., Fujifilm Holdings Corporation, Idexx Laboratories, Inc., BCF, Hallmarq Veterinary Imaging Ltd., and Canon Medical Systems Corporation, among others.
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