Global Veterinary Imaging Equipment Market Forecast To 2023

22 Sep, 2020

The global veterinary imaging equipment market is expected to decline from $1.61 billion in 2019 to $1.57 billion in 2020 at a compound annual growth rate (CAGR) of -2.50%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $1.99 billion in 2023 at a CAGR of 8.29%. The growth in the livestock population is expected to trigger the demand for veterinary imaging equipment. However, the high cost of veterinary imaging systems is expected to limit the growth of the market during the forecast period.

The veterinary imaging equipment market consists of sales of veterinary imaging equipment by entities that produce veterinary diagnostic equipment used to obtain medical images of animals for diagnosis of various diseases. This industry includes establishments that produce diagnosis equipment such as radiography, X-ray, ultrasound imaging, MRI, CT imaging, endoscopy imaging, and other imaging equipment. These imaging systems are used for cardiology, orthopedics & traumatology, oncology, neurology, and others.

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The global veterinary imaging equipment market is further segmented based on type and geography.
By Type: Radiography (X-Ray) System, Ultrasound Imaging System, Computed Tomography Imaging System, Video Endoscopy Imaging System, Magnetic Resonance Imaging System, Others
By End User: Veterinary Hospitals, Veterinary Clinics, Academic and Research Organizations, Others
By Application: Orthopedics And Traumatology, Oncology, Cardiology, Neurology, Others
By Animal Type: Small Companion Animals, Large Animals, Others
By Modality: Portable, Stationery
By Geography: The global veterinary imaging equipment market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the North American veterinary imaging equipment market accounts for the largest share in the global veterinary imaging equipment market.

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Trends In The Veterinary Imaging Equipment Market
Key companies operating in the veterinary imaging equipment are focusing on the launch of portable or wireless devices to provide better solutions for effective veterinary technologies, which is projected to be a leading trend veterinary imaging equipment market.
Veterinary Imaging Equipment Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides veterinary imaging equipment market overviews, analyzes and forecasts veterinary imaging equipment market size and growth for the global veterinary imaging equipment market, veterinary imaging equipment market share, veterinary imaging equipment market players, veterinary imaging equipment market size, veterinary imaging equipment market segments and geographies, veterinary imaging equipment market trends, veterinary imaging equipment market drivers and veterinary imaging equipment market restraints, veterinary imaging equipment market’s leading competitors’ revenues, profiles and market shares. The veterinary imaging equipment market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.