Veterinary Radiography Systems Market
Veterinary Radiography Systems Market (Product - Digital X-ray (Direct and Indirect) and Analog X-ray; Technology - Computed Radiography, Digital Radiography, and Film Screen Radiography; Application - Orthopedic and Rheumatology, Cardiology, Oncology, and Nephrology; End User - Hospitals, Clinics, Diagnostic Centre, and Research Centre) - North America Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024
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North America Veterinary Radiography Systems Market: Snapshot
The radiography is the technique of creating high-quality anatomic images by using X-rays. The target is given radiographic exposure through X-ray generator to develop the desired image. Today, veterinary radiography systems are being extensively used to understand the complex conditions suffered by animals. The rising adoption of pets and breeding of animals for poultry purposes is expected to boost the uptake of these systems in the coming years. According to the report, the North America veterinary radiography systems market is estimated to reach a valuation of US$294.5 mn by the end of 2024 as it promises to surge at a CAGR of 5.8% from 2016 to 2024.
Increasing Pet Adoption Spikes Demand for Veterinary Radiography Systems
The global market is likely to thrive against the backdrop of increasing pet adoption across the U.S. and Canada. The market is also likely to benefit from the growing awareness about animal health. The emerging trend of veterinary clinics and the concerns pertaining to animal diseases have also kept the sales of veterinary radiography systems on the upswing. The strengthening perception of owning animals as a status symbol, humanitarian causes along with therapeutic and psychological benefits are also expected to lend this market an adequate impetus. Furthermore, the growing participation of these animals in several sports and adventures has triggered a necessity for veterinary radiography systems to evaluate their sports injuries. Some of the frequently treated injuries with these systems are several heart attacks, broken legs, broken necks, and fractured skulls.
On the basis of technology, veterinary radiography systems market is segmented into film screen radiography, digital radiography, and computed radiography. Of these, the digital radiography segment dominated the North America veterinary radiography systems market in 2015. The advantage of this technology to produce images within seconds of exposure has been its winning attribute for the past few years. Owing to this factor, the digital radiography is capable of reducing exposure to the radiation.
Based on applications, the market of veterinary radiography systems market is divided into orthopedic and rheumatology, cardiology, oncology, nephrology, and others. Analysts anticipate that the orthopedic and rheumatology segment will dominate the market between 2016 and 2024. Growing number of bone injuries during training and sports activity has boosted the adoption of veterinary radiography system devices.
U.S. Exhibits Robust Growth Rate in Overall Market as Expenditure on Pets Improves
Geographically, the market has been segmented into U.S. and Canada markets. The U.S. dominated the North America veterinary radiography systems market in 2015 and is expected to maintain its stance in the coming years as well. This trend will fortify as growing number of citizens are adopting pets across the U.S. The American Pet Products Association stated that the U.S. pet industry expenditure was US$60.28 bn in 2015 and is expected to show a steady growth rate during the forecast years as well. On the other hand, Canada is expected to exhibit a sluggish growth rate in the overall veterinary radiography systems market during the forecast period.
Some of the key players operating in the North America veterinary radiography systems market are Sound-Eklin- VCA Company, Idexx Laboratories, Canon, Inc., Fuji Medical Systems, Carestream, Cuattro Veterinary, iM3/Durr Medical, Sedecal and Vetel Diagnostics. The growth of this regional market will be due to the strong presence of these companies and their ardent efforts to offer systems to vets that are equipped with advanced features.
Consistent Technological Advancements underscores Growth in North America Veterinary Radiography Systems Market
The North America veterinary radiography systems market is thriving on the backdrop of increasing pet adoption in the U.S. and Canada. Pet owners in these countries spend substantial time and money for the health and well-being of their pets. This includes regular and emergency visits to veterinary clinics that are equipped with avant-garde technology-driven diagnostic systems.
Notable clinical advances in veterinary sciences along with the integration of technology for diagnosis of health conditions is animals is indirectly creating opportunities in the North America veterinary radiography systems market. Besides this, increasing clinical research to further understand the anatomy and physiology of animals is leading to the adoption of sophisticated diagnostic systems, including veterinary radiography.
The digital radiography segment dominates other key segments based on technology in the North America veterinary radiography systems market. This is because digital radiography systems feature to produce images within seconds of exposure to the subject – an advantage over other technology-based radiography systems. By application, the orthopedic and rheumatology segment witness leading demand in the North America veterinary radiography systems market.
The U.S. accounts for leading revenue in the North America veterinary radiography systems market. This is mainly because of high pet ownership and substantial spending on the health and well-being of companion animals. According to the American Pet Products Association, in 2015, the U.S. pet industry witnessed a whopping overall expenditure of US$60.28 bn, and is expected to continue to witness high expenditures in the years ahead. This indirectly creates opportunities in the North America veterinary radiography systems market.
In the competitive landscape, the North America veterinary radiography systems market is largely consolidated with a large chunk of the revenue held by a handful of large players. These large players are focused on collaborations with small players to expand their distribution channels, increased market penetration, higher profit margins, and branding objectives.
North America Veterinary Radiography Systems Market: Overview
Visualization of the internal parts of the body using X-ray techniques is known as radiography. Radiography is a technique for recording and generating an X-ray pattern to provide image after exposure of radiation. There are two major type of radiography systems, direct X-ray and Analog X-ray. Digital X-ray systems use digital radiography technology that captures the image directly into the flat panel detector without the use of cassette. Analog X-ray systems include devices that use film or CR cassette based technology for medical imaging. It is the oldest technology in the veterinary radiography system market which has been replaced by digital X-ray. This report analyzes the current and future prospects of the veterinary radiography system market based on type of product, technology, application, end user and geography.
North America Veterinary Radiography Systems Market: Research Methodologies
The research is a combination of primary and secondary research, conducted for understanding and arriving at trends, used to forecast the expected revenue of the major radiography techniques in the near future. Primary research formed the bulk of our research efforts with information collected from in-depth interviews and discussions with a number of key industry experts and opinion leaders. Secondary research involved study of company websites, annual reports, press releases, investor presentations, analyst presentation and various international and national databases. The report provides estimated market size in terms of US$ Mn for each Product type, application, end user and geography for the period 2014 to 2024, considering the macro and micro environmental factors. The revenue generated from each product was calculated by considering number of products used in the procedures and their market demand as per their use, number of product launched, average cost of products of each sub segment, trends in industry, end user trend and adoption rate across all the geographies. The revenue generated for applications was calculated on the basis of prevalence of diseases in animals.
North America Veterinary Radiography Systems Market: Scope
The market report comprises an elaborated executive summary, which includes market snapshot that provides information about various segments of the market. It also provides information and data analysis of the market with respect to market segments based on type of product, application, end user and geography. The market overview section of the report analyzes market dynamics such as drivers, restraints and opportunities that influence the veterinary radiography system market in the current and future scenario. The report also provides value chain analysis of the market that describes the sequence of activities involved from manufacturing to their final reach to the end users.
North America Veterinary Radiography Systems Market: Competitive Landscape
Market share analysis among the market players is analyzed to signify percentage share of the major players operating in the market. All these factors will help the market players to decide about the business strategies and plans to strengthen their positions in the global market. Based on geography, the market has been analyzed for countries of North America, U.S. and Canada.
The report also profiles the major players in the market and provides various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments. Major companies profiled in the veterinary radiography system market report are
Sound-Eklin- VCA Company, Idexx Laboratories, Canon, Inc., Fuji Medical Systems, Carestream Health, Cuattro Veterinary, iM3/Durr Medical, Sedecal, and Vetel Diagnostics and some other players who are involved in the veterinary radiography system market.
North America Veterinary Radiography Systems Market has been segmented as follows:
- North America Veterinary Radiography System Market, by Product
- Digital X-ray
- Analog X-ray
- Digital X-ray
- North America Veterinary Radiography System Market, by Technology
- Computed Radiography
- Digital Radiography
- Film Screen Radiography
- North America Veterinary Radiography System Market, by Application
- Orthopedic and Rheumatology
- North America Veterinary Radiography System Market, by End User
- Diagnostic Centre
- Research Centre
- North America Veterinary Radiography System Market, by Country