Veterinary CT Scanner Market is expected to reach USD XX billion by 2026 at a CAGR of 7.5 % during the forecast period.
The veterinary CT scanner market is segmented based on type, animal type, application, end users and region.
By type – Stationary Multi-Slice CT Scanners and Portable CT Scanners.
By Animal Type – small companion animals, equine and livestock and others.
By application – Neurology, Oncology, Orthopaedics and Traumatology and other Applications. By End user – Hospitals and Clinics and Research Institutes.
Veterinary CT scanner provides more detailed, cross-sectional views of the body during high-stress emergency situations. Increase in incidence of zoonotic diseases demands accurate and effective diagnostic tools, which is expected to fuel the industry growth.
Increasing small companion animal population, rising demand for pet insurance with growing animal health expenditure, growth in the number of veterinary practitioners and their income levels in developed economies, technology advancements in veterinary CT scanners would create lucrative growth platform. Furthermore, Lack shortage of veterinary practitioners in developing markets and decreasing animal health awareness in emerging markets
Stationary Multi-Slice CT Scanners and Portable CT Scanners type segment is expected to hold the largest market share during 2018-2026
Veterinary CT scanner market is segmented type, animal type, application, end users and region. Among type, Stationary Multi-Slice CT Scanners and Portable CT Scanners type segment market accounted for the largest share in 2018 due to increasing small companion animal population.
Neurology and Oncology segment is expected to hold the largest market share during 2018-2026
Based on application, Neurology and Oncology is expected to be one of the fastest growing segments in the forecast period. The market growth can be attributed to the Rising Demand for pet insurance with growing animal health expenditure.
North America held the largest share of the Veterinary CT scanner market in 2017
The North American region is playing the principal role in the veterinary CT scanner market due to growth in the number of veterinary practitioners and their income levels in developed economies, technology advancements in veterinary CT scanners. Though, Asia-Pacific will be the second major market in the proximate future followed by LAMEA region. The presence of innovative medical advanced technology for animal health and a large number of veterinary practitioners.
The key players of the Veterinary CT scanner market include GE Healthcare, Canon, Epica Medical Innovations, Siemens, Samsung Electronics, Koninklijke Philips N.V., Hitachi, Animage, BCF, Medtronic PLC, Carestream Health, Inc, Hitachi Ltd, Koning Corporation, Neusoft Corporation, Planmed Oy and among others. The industry players focus on strategic partnerships, mergers and collaborations as well as innovative product launches to expand their business product portfolio as main strategies.
There is a sturdy growth in the production as new companies are entering the Veterinary CT scanner market. For example, in May 2016, a leading medical devices company, GE Healthcare announced its intentions to enter the Veterinary CT scanner market.
In the veterinary CT scanner market, Medical Innovations holds the leadership position due to production capacity expansion, brand portfolio expansion, mergers, collaborations and acquisitions. In 2018, the company has adopted new product launches, product enhancements, and geographic expansion as its crucial business plans to certify its dominance in this market.
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