Europe Veterinary Imaging Market Overview:
The Europe Veterinary Imaging Market estimated at USD 426 million in 2018 and is expected to reach USD 680 million by 2025, which will register a compound annual growth rate of 7% over the 2018-2025 forecast period.
Veterinary images are used to obtain medical images of animal bodies to diagnose chronic diseases. It is a non-invasive method that has evolved using imaging instruments of human medicine. The animals considered for pictures are small pets, large animals and zoo animals, among others. The market is expected to grow during the forecast period due to the growing awareness of health in pets.
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Drivers, Challenges and Opportunities:
The veterinary imaging market in Europe is accelerating with the growing demand for diagnostic tools to treat small pets, such as cats and dogs. These imaging devices distinguish rhinitis and neoplasia for nose and pain diagnosis and guide the results of biopsy tests. Increasing livestock populations, increased demand for meat and dairy products, knowledge of better treatment options for pet owners and adoption of a pet are some of the factors that can stimulate market growth in the European region for the forecast period.
In addition, the use of veterinary imaging equipment entails a high initial cost which hampers the development of the market. This instrument is only available to users with computer skills and IT support staff for software and hardware issues.
It is expected that continued technological innovation in veterinary images will stimulate future opportunities. Magnetic resonance technology is expected to be associated with the veterinary image to provide a more accurate diagnosis for small pets. Technologies such as laparoscopic detection technology and micro fractures are also being tested for future applications in the regional market.
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Geographic Segmentation:
Europe is one of the largest contributors to the veterinary imaging market, with the region accounting for nearly 55% of the global market, and should retain its dominant position over the forecast period. The growing demand for veterinary equipment and increased R&D spending should stimulate market growth in the European regions in the coming years.
Key market players Listed in this Europe Veterinary Imaging Market report are:
The European market is fragmented with the presence of many large and small players in this sector. The main players in this industry are IDEXX Laboratories, Inc.; GE Healthcare; His Carestream Health; FUJIFILM Holdings Corporation, Esaote, SpA, VetZ Limited; Hallmarq Veterinary Imaging Ltd; SUNI Medical Imaging, Inc, Universal Medical Systems, Inc., and so on.
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