Veterinary Imaging Market

GE Healthcare (US), Carestream Health, Inc. (US) and ESAOTE S.P.A (ITALY) are Leading Players in the Veterinary Imaging Market

The veterinary imaging market is expected to reach USD 2.2 billion by 2025 from USD 1.6 billion in 2020, at a CAGR of 6.7% during the forecast period of 2020 to 2025. Due to the outbreak of corona virus globally, there is a slight dip in the demand for veterinary imaging systems for first quarter in 2020. However, the overall growth of the global veterinary imaging market during the forecast period is mainly driven by the increase in animal healthcare spending and growing pet insurance purchase, the growing companion animals market, increase in the number of veterinary practitioners and their income levels in developed regions, and the launch of advanced products. On the other hand, lack of animal healthcare awareness, a severe shortage of skilled veterinarians, and the high cost of imaging instruments in emerging countries are factors expected to restrain the overall market growth, to a certain extent, during the forecast period.

The prominent players operating in this market include GE Healthcare (US), Agfa-Gevaert N.V. (Belgium), Carestream Health, Inc. (US), Esaote S.p.A (Italy), IDEXX Laboratories, Inc. (US), Mindray Medical International Limited (China), Canon Inc. (Japan), Heska Corporation (US), Siemens Healthineers (Germany), FUJIFILM Holdings Corporation (Japan), Konica Minolta (Japan), Samsung Electronics Co. Ltd. (South Korea), E.I. Medical Imaging (US), IMV imaging (UK), SEDECAL (Spain), Clarius Mobile Health (Canada), Shenzhen Ricso Technology Co., Ltd. (China), DRAMIŃSKI S.A. (Poland), EPICA Animal Health (US), and ClearVet Digital Radiography Systems (US).

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GE Healthcare (US)

As of 2019, GE Healthcare is the leading player in the veterinary imaging market. The company’s leading position in the market is mainly due to its diversified product portfolio, active R&D activities, and wide distribution footprint across the globe. The company offers a wide variety of ultrasound and CT scanners as compared to other players operating in the market. However, the equipment offered by GE Healthcare is relatively more expensive than that of its competitors. Nearly three-quarters of GE Healthcare’s end users are hospitals, with other end users comprising the alternate care market, such as clinics and on-farm customers. The company has a strong brand image owing to its quality products, thus making it the leading player in the veterinary imaging market.

Carestream Health, Inc. (US)

Carestream Health accounted for the largest share of 25–30% in the veterinary radiography market 2019. The company is a subsidiary of Onex Corporation (Canada). Carestream Health focuses on various development strategies to expand its business, such as developing new imaging products to ensure continued demand for its diverse product portfolio. Carestream Health has a strong product portfolio of digital radiography systems and software for veterinary applications. The technological advancements in and features of CR and DR systems have increased their adoption among veterinarians, hospitals, and clinics. The company invests heavily in R&D activities. For example, in 2018, the company invested USD 189 million on developing new products and upgrading existing products.

ESAOTE S.P.A (ITALY)

In 2019, Esaote accounted for an estimated share of 38–42% of the veterinary MRI market. Its leading position in the market can be attributed to its wide range of product offerings in the veterinary MRI market and strong geographical footprint. The company is an international veterinary imaging equipment manufacturer that operates in collaboration with numerous veterinary hospitals & clinics, both small and large. Esaote is a pioneer in ultrasound and MRI systems. The company offers advanced MRI systems that contribute a considerable share to the company’s total revenue.

Related Reports:

Veterinary Imaging Market by Product (Ultrasound (2D, Doppler, 3D), X-ray (CR, DR), MRI, CT, Software, Reagent), Therapeutic Area (Oncology, Gynecology, Orthopedic), Animal (Small Companion, Large), End User (Hospital, Clinic) - Global Forecast to 2025

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]

Report Code
MD 3711
RI Published ON
7/27/2020
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