Veterinary CT Scanner Market Projected to Grow Radiantly By 2023; Asserts MRFR Unleashing the Forecast for 2018-2023
Market Overview:
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
study report, asserts that the global veterinary CT scanner market will garner
exponential accruals with approximately 7.30% CAGR during the review period
(2018 – 2023).
There has been a
significant expansion in the market for veterinary medical devices and surgical
instruments. The pet care sector has been encouraging themarket 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.
Key
Players:
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)
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 inthe 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.
Industry/
Innovation/ Related News:
August
07, 2018 – The University of
Liverpool (UK) unveiled a unique veterinary CT scanner which is large bore
sliding gantry computed tomography system for improved large animal patient
scanning.
Adapted from human use, the new large animal CT
machine has been set up at the university’s Philip Leverhulme Equine Hospital
with installation being shared between the hospital and
university.
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