ID: MRFR/MED/4526-HCR | February 2021 | Region: Global | 95 pages
The Veterinary CT Scanner market was valued USD 138.1 million in 2018 and is expected to register a CAGR of 6.2% during the forecast period (2019-2025). According to the market scenario, the veterinary CT scanners have imaging equipment that specifics for the pets, domestic animals, and for diagnosing anomalies within them. Veterinary healthcare has been gaining prominence because manufacturers have been focusing on the production of specialized items. Apart from that, veterinary practitioners have been able to improve animal care by expanding imaging capabilities.
Therefore, this has enhanced the safety as well as the affordability at the same duration. On the other hand, the global veterinary CT scanner market has been driven by the factors that grow the number of pets, increasing the incidence of zoonotic diseases as well as the increase in veterinary imaging. Additionally, technological advancement in increasing the number of veterinary practitioners has been anticipated as well. For instance, it has been observed that the high cost of the systems has been projected in hampering the entire growth of the firm during the stated period.
Covid 19 Analysis
The sudden outbreak of the covid 19 situation on the veterinary CT scanner market has a huge negative effect. Due to the stringent regulations of complete lockdown in partial parts of the world, this market has been affected adversely in a short term. This has portrayed that the entire market has been taken aback by a financial fall down of the production. It has tremendously affected the entire market growth both in the long term and in the short term. Apart from that, the highest number of analyzing the growing aspects has managed to develop the pet owners to have a clinical diagnosis. This has been affected due to the lockdown scenario for stopping the virus.
One of the key marketing driving factors represents the rising demand for pet insurance as well as the growing expenditure on animal health. This clearly states the importance of spending on pet healthcare and that mainly includes pet food, counter medications, pet policies, veterinary care, and others. Hence, it has increased significantly within years and many of the pet owners have major markets in North America and Europe. Here, the growth is considered to be significant with a combination of gross premium.
The major key restraining factor states the high cost of all the veterinary imaging devices and all these devices are considered to be in high-cost management. The majority of the veterinary practices appear to be small-sized as well as with strict constraints of budgets for analyzing the high-cost management of the restraints. Apart from that, the lack of reimbursement for the procedures has been accelerated. This tends to be a limiting factor that attempts to uptake veterinary imaging instruments among proper practitioners.
One of the most challenging features of the market states the magnetic livestock of the industry with proper management. Apart from that, an increase in the number of veterinary practitioners has been affected and it is anticipated by the fuel of the entire market growth. Hence, an increase in the incidence of zoonotic diseases has been advancing due to the disruption in the increased expenditure as well as the technological advancement of the veterinary practitioners.
The most emerging opportunity of the veterinary CT scanner market states the untapped emerging of the markets. Further, animal ownership has been significant across the world and it clearly portrays the urbanization as well as the increase in the disposal income. An expansion in the access of the veterinary diagnostic system claims the practices to be upgraded in US and European countries. Therefore, the veterinary practices within the mentioned region adopt technologically advanced solutions and it claims to underlie the advanced solutions for better growth. This has resulted in the surge within the animal companion population and also in the growing demand for veterinary practices for the livestock industry. This is expected to make the offer towards a significant opportunity for growth which includes the rising companion of the health expenditure of animals.
Cumulative Growth Analysis
The Compound Annual Growth Rate (CAGR) is predicted to grow at 6.2%. Accordingly, the market growth of the veterinary CT scanner market has tried to expand its growth within the forecast period of 2021-2027. Various drivers such as the growing number of pet owners, also an increase of zoonotic diseases, and the technological advancement of veterinary imaging.
Value Chain Analysis
An increase in the number of veterinary practitioners has given a rise in the market. Hence, this has contributed to the entire overall impact on the market positively. Also, the growing initiatives by the government for the development and research will improve the value chain of the Veterinary CT Scanner Market in the forthcoming years.
According to the overview of the market segmentation, the global veterinary CT scanner market has been classified on the basis of type, application, slice, end-user, region, and others. Hence, the veterinary CT scanner market based on type classifies the market into stationary multi-slice CT scanners as well as portable CT scanners. This particular CT scanner has further segmented to hold a great position in this market.
Based upon application, the market of CT scanners has been
classified into 4 slices, 16 slides, 8 slides, 32 slides, and 64 slides as well. Further, based on the animal type, the veterinary CT scanner market is segmented into large animals as well as small animals.
Based on the application, the veterinary CT scanner market has been classified into cardiovascular diseases, cancer, infectious disease, trauma, appendicitis, and musculoskeletal disorders. Lastly, based on end-user, the market has been segmented into veterinary hospitals, clinics, academic institutes, and more.
According to the market analysis of the region, the veterinary CT scanner market within America is expected to dominate the market due to an item of increased expenditure on pet insurance. On the other hand, technological advancement is expected to drive the market growth for an increase in the financial output. Europe has been measured as a region with considerable growth and has attributed the increase in the number of veterinary practitioners. Apart from that, Asia-pacific has projected to have the growth at a steady point that forecasts the period by owning the increasing incidence of zoonotic diseases. Further, the Middle East and Africa have projected towards the last position due to the low income within the region.
The majority of the veterinarian CT scanners have been manufactured with the help of the global key players
. It tends to state that the market leaders have to be efficient with more funds for better distribution and research on this particular topic. Therefore, major of the marketing key players states to be:
This report mainly includes all the details and it tends to initialize the growth along with better efficiency of the market with particular management. It states that the driving factors have been interrupted due to the sudden covid 19 situations. The entire analysis is based upon the Covid 19 analysis, regional analysis, market overview, segmentation analysis, market dynamics and it mainly includes the challenges, opportunities, restraints, and drivers. Further, the competitive landscape and the other sections are presented. Hence, all of the information that has been collected is from the primary as well as the secondary sources.
By Animal Type
|Market Size||2027: Significant Value|
|CAGR||CAGR of 6.2% (2020-2025)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||type, slice, animal type, application, end-user|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Koninklijke Philips N.V., GE Healthcare, SOUND, Canon, Inc., Epica International, Inc, Siemens AG, Samsung Electronics Co. Ltd., Hitachi, Ltd., Animage, LLC, and GNI ApS|
|Key Market Opportunities||New product launches and R&D Amongst major key Players|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
Global Veterinary CT Scanner Market is expected to exhibit a CAGR of 6.2% from 2018 to 2023.
The Global Veterinary CT Scanner Market valuation stood at USD 138.1 million in 2018.
The Americas can dominate the Global Veterinary CT Scanner Market due to the large adoption rate of pets and the growing pet insurance sector.
The APAC region can exhibit the fastest growth rate in the Global Veterinary CT Scanner Market.
Samsung Electronics Co. Ltd., SOUND, Koninklijke Philips N.V., Animage, LLC, Hitachi, Ltd., Canon, Inc., Siemens AG, GE Healthcare, Epica International, Inc, and GNI ApS are major players in the global veterinary CT scanner market.