Europe Veterinary
Imaging Market Overview:
The Europe Veterinary Imaging
Market estimated at USD 426 million
in 2018 and is expected to reach USD 680 million
by 2025, which will register a compound annual growth rate of 7% over the 2018-2025 forecast period.
Veterinary images are used to obtain medical images of
animal bodies to diagnose chronic diseases. It is a non-invasive method that
has evolved using imaging instruments of human medicine. The animals considered
for pictures are small pets, large animals and zoo animals, among others. The
market is expected to grow during the forecast period due to the growing
awareness of health in pets.
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Drivers, Challenges
and Opportunities:
The veterinary imaging market in Europe is accelerating with
the growing demand for diagnostic tools to treat small pets, such as cats and dogs.
These imaging devices distinguish rhinitis and neoplasia for nose and pain
diagnosis and guide the results of biopsy tests. Increasing livestock
populations, increased demand for meat and dairy products, knowledge of better
treatment options for pet owners and adoption of a pet are some of the factors
that can stimulate market growth in the European region for the forecast
period.
In addition, the use of veterinary imaging equipment entails
a high initial cost which hampers the development of the market. This
instrument is only available to users with computer skills and IT support staff
for software and hardware issues.
It is expected that continued technological innovation in
veterinary images will stimulate future opportunities. Magnetic resonance
technology is expected to be associated with the veterinary image to provide a
more accurate diagnosis for small pets. Technologies such as laparoscopic
detection technology and microfractures are also being tested for future
applications in the regional market.
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Geographic
Segmentation:
Europe is one of the largest contributors to the veterinary
imaging market, with the region accounting for nearly 55% of the global market,
and should retain its dominant position over the forecast period. The growing
demand for veterinary equipment and increased R&D spending should stimulate
market growth in the European regions in the coming years.
Key market players
Listed in this Europe Veterinary Imaging Market report are:
The European market is fragmented with the presence of many
large and small players in this sector. The main players in this industry are
IDEXX Laboratories, Inc.; GE Healthcare; His Carestream Health; FUJIFILM
Holdings Corporation, Esaote, SpA, VetZ Limited; Hallmarq Veterinary Imaging
Ltd; SUNI Medical Imaging, Inc, Universal Medical Systems, Inc., and so on.
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