Global Veterinary Diagnostic Imaging Devices Market Is Forecast to Reach US$ 1,409.5 Million by 2019, Growing at a CAGR of 6.3% from 2015 to 2019

SA-BRC analysts monitored trends and analyzed five different imaging modalities that comprise the complete veterinary diagnostic imaging market. These include veterinary ultrasound, magnetic resonance imaging, computed tomography, X-ray and endoscopy.


Houston, TX -- (ReleaseWire) -- 07/13/2015 --The report also presents the current market and forecast of veterinary diagnostic imaging equipment purchased by different end-users such as veterinary hospitals, veterinary clinics and emergency/point-of-care veterinary services. The geographical analysis of the veterinary diagnostic imaging devices is segregated into six regions of North America, Europe, Asia-Pacific, Latin America, Middle-East and Africa.

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Miniaturized ultrasound and X-ray devices are observed to be in great demand by veterinary clinics, hospitals and visiting veterinary practitioners across the world. Introduction of specialized emergency services for companion animals is expected to drive the market for diagnostic imaging in veterinary sector in coming years. In North America and Europe, there has been an increase of over 5,000 new pet emergency services in the past decade. All services require vehicles equipped with diagnostic imaging modalities such as ultrasound and X-ray. There are approximately 30,000 veterinary clinics and hospitals in North America. This represents a significant target market for all imaging modalities.

Veterinary imaging equipment and devices market faces greater challenge as compared to other veterinary healthcare products such as vaccines, pharmaceuticals and additives simply due to scale of economy. Vaccines and additives are used on a very large scale among livestock and farm animals as compared to companion animals although the latter segment is growing much faster. Due to highly unregulated pricing system for diagnostics and therapy, the veterinary services are directly affected by service to animals and customer service to patients. Surveys indicate that most people in a locality go to a veterinary hospital or clinic based on word-of-mouth marketing or suggestion by someone who has experienced the service.

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Conventionally the concept of pets and companion animals among people in emerging countries were associated only with appropriate feeding and did not extend to intensive care of health, appetite and regular diagnostics. A burgeoning pet market in developing countries such as India, Venezuela, Brazil, Argentina, China and others has led to the globalization of the veterinary imaging technology manufacturers. The companies are now shifting focus on to a global level and creating distributorship across countries. Rising per capita income and greater awareness of animal welfare has increased the chances of veterinary professionals in these regions. There are significant challenges yet to be overcome such as lack of veterinary professionals in the region and low purchase power which is expected to continue downgrading the true potential of the opportunities. A large majority of players in the veterinary diagnostic imaging market are privately held and do not disclose their financial data.