Veterinary CT Scanner Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI3706
Veterinary CT Scanner Market size is projected to experience significant growth from 2019 to 2025.
Increasing animal healthcare expenditure and growing adoption of companion animals are major factors leading to veterinary CT scanner market growth. As per the Humane Society of the United States estimates, more than 68% of American household owned a pet in 2017. Additionally, increasing expenditure on animal healthcare due to growing disposable income in developed countries will further boost demand for veterinary CT scanner market growth in the future.
Various technological advancements in veterinary CT scanners is expected to spur market growth over the forecast timeframe. For instance, in February 2015, Epica Medical announced launch of high-definition, and low radiation Vimago LX CT scanner with 60% less radiation. Such technological advancements will drive the veterinary CT scanner market in the future.
However, stringent regulatory policies and high veterinary CT scanner cost are some of the factors, that may hamper market growth.
The portable CT scanner segment is expected to show significant growth during the forecast timeframe. Major advantage of portable CT scanners involves use of these scanners for on-field diagnostic imaging, that will render positive impact over market growth. Additional advantages such as less space requirement and low cost will further propel business growth in the future.
Use of veterinary CT scanners for companion animals is expected to show considerable growth in the future. High growth is attributable to increasing expenditure on companion animal diagnostics coupled with increasing prevalence of neoplasia and pet cancer. Moreover, growing adoption of pet animals in developing economies will further boost the use of veterinary scanners for companion animals during the projected timeframe.
Use of veterinary CT scanners for diagnosis of pet and livestock cancers will show significant growth across the projected timeframe. Veterinary CT scanners provide high resolution images and also provides guidance during various interventional procedures. Moreover, high image quality, spatial resolution, and superior contrast are other advantages that will spur the usage of veterinary CT scanners in oncology segment.
Adoption of CT scanners in veterinary hospitals is expected to grow over the forecast timeframe. Increasing focus of pet owners on pet care coupled with growing pet care expenditure are some of the factors leading to growth of veterinary hospitals. Furthermore, the 3D images created by CT scanners enable pre-operative planning, thus leading to high procedural outcome.
The U.S. will dominate veterinary CT scanner market during the analysis period owing to rising prevalence of various animal disorders and increasing per capita expenditure of pet care. In addition, favorable and advanced infrastructure, growing awareness about animal health, rise in product innovation, and helpful initiatives by the government are major factors leading to market growth across the country.
Some of the key industry players include Animage, LLC, Canon, Inc., Epica Medical Innovations, GE Healthcare, Gin ApS, Hitachi, Ltd., Philips Healthcare, QR S.R.L., Neurologica Corporation and Siemens Healthineers. Key strategies adopted by the industry players include innovative product launches, partnerships, mergers, strategic collaborations, and geographic expansion to expand their business product portfolio.
Veterinary CT Scanner Market by Product, 2014-2025 (USD Million)
- Stationary Multi-Slice CT Scanners
- Portable CT Scanners
Veterinary CT Scanner Market by Animal Type, 2014-2025 (USD Million)
- Companion Animals
- Livestock Animals
Veterinary CT Scanner Market by Application, 2014-2025 (USD Million)
- Orthopedics and Traumatology
Veterinary CT Scanner Market by End-use, 2014-2025 (USD Million)
- Veterinary Hospitals
- Research Institutes
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- South Africa
- Saudi Arabia
- Animage, LLC
- Canon, Inc. (Toshiba Medical Systems Corporation)
- Epica Medical Innovations
- GE Healthcare
- Gin ApS
- Hitachi, Ltd.
- Koninklijke Philips N.V.
- QR S.R.L.
- Samsung Electronics Co. Ltd. (Neurologica Corporation)
- Siemens AG (Siemens Healthineers)
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