Veterinary Radiography Systems Market | Growth, Trends and Forecasts (2018-2023)
Veterinary Radiography Systems Market ‚ Segmented by Product (Digital X-Ray, Analog X-Ray), Application (Orthopedic and Rheumatology, Cardiology, Oncology, Nephrology), Geography- Growth, Trends, and Forecast (2019 - 2024)

PUBLISHED

SEP 2018

Veterinary Radiography Systems Market ‚ Segmented by Product (Digital X-Ray, Analog X-Ray), Application (Orthopedic and Rheumatology, Cardiology, Oncology, Nephrology), Geography- Growth, Trends, and Forecast (2019 - 2024)

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Veterinary Radiography Systems Market Overview

The veterinary radiography systems market is expected to grow at a CAGR of 6.0% over the forecast period. Veterinary radiography systems involve the majority of diagnostic medical images, which are generated in veterinary healthcare practice. A specialized vacuum tube, which produces X-rays, are used to make radiograph systems. Increase in animal adoption, rise in prevalence of injuries and diseases in animals, and the technological advancements are contributing to the market growth. However, high cost of imaging instruments, and shortage of skilled personnel can adversely affect the market growth.

Rise in Prevalence of Injuries and Diseases in Animals to Propel the Growth of the Veterinary Radiography Systems Market

Rise in prevalence of various injuries along with other painful diseases, including arthritis, periodontal diseases, and cancer in companion animals, (such as cats, dogs, and horses), as well as livestock animals (such as cattle, swine etc.) is expected to propel the market growth. Around 100 types of animal cancers have been identified till date. Cancer in pet animals are generally found in the skin, breast, bones, head and neck, abdomen, lymph system, and testicles. Leukemia is the type of cancer, which has the highest prevalence in cats, whereas mammary gland cancer and lymphoma are considered the most common type of canine cancers. According to the Equine Veterinary Journal, in 2017, oro-dental disease has been found to be prevalent in Egypt. In horses, 45.3% have moderate oro-dental disease and 8.4% were found to have severe oro-dental disease. Oral mucosal injuries (64.2%) and sharp enamel points (79.8%) were most prevalent among the equine population. As per the disease prevalence data published by the Royal Veterinary College, University of London, in 2013, out of 1000 surveyed animals, the estimated number of dogs suffering from some major diseases are as follows: 93 from Periodontal disease, 55 from Traumatic injury, 39 from Heart (cardiac) murmur, 38 from Osteoarthritis (degenerative joint disease, DJD), and 28 from Arthritis.

In addition to the aforementioned factor, the increase in animal adoption, and technological advancements are expected to propel the market growth over the forecast period.   

Shortage of Skilled Personnel is Restraining the Growth of Veterinary Radiography Systems Market

The lack of proper opportunities, enabling veterinarians to learn technological skills is expected to restrain the growth of the veterinary radiography systems market. According to the Veterinary Hospital Managers Association’s (VHMA) October 2016 Insiders’ Insight report, the number of available as well as skilled veterinary technicians are insufficient for satisfying the current demand, according to 41% of the respondent managers. In addition, 48% acknowledged the requirement of some college or foundational work for proper training of technicians. Similarly, 10% wanted these programs to promote a culture of professionalism, while more than 50% stated that hands-on training should be a critical aspect. A report published by the National Center for Biotechnology Information (NCBI) in 2016 states that 93.8% of veterinarians in Japan acknowledged the requirement for veterinary dental treatments, also involving dental x-ray in animals, while 67.9% was actually implementing dental treatments.

In addition to the aforementioned factor, high cost associated with the veterinary healthcare practice, is another major factor which can restrain the growth of the market.

North America to Dominate the Veterinary Radiography Systems Market

North America is expected to dominate the Veterinary Radiography Systems market over the forecast period, owing to the factors, such as the rising pet adoption and increasing per capita animal healthcare expenditure. In addition, the rise in prevalence of diseases and injuries in animals has been identified as the major driving factor for the market growth. Recently, dozens of studies to identify causes and treatments of animal cancers have been sponsored and conducted by the American Kennel Club (AKC), Animal Cancer Foundation, and other foundations. For example, the Purdue University’s College of Veterinary Medicine, Indiana, United States is conducting clinical trials and thus leading the way in comparative oncology research by discovering new ways to identify and cure lymphomas in canines, involving radiography as a means to diagnose cancer. The American Veterinary Medical Association (AVMA) states that, dogs get cancer at almost the same rate as humans. However, there is less information about the rate of cancer in cats. Certain cancers, such as lymphoma, are more prevalent in cats than in dogs. The aforementioned factors are driving the growth of the veterinary radiography systems in North America.

Key Developments in the Veterinary Radiography Systems Market

  • Jul 2017: Canon USA Inc., and Virtual Imaging Inc., a wholly owned subsidiary of Canon USA Inc., launched the new Canon series of CXDI Digital Radiography (DR) Detectors at the 2017 Association for Medical Imaging Management (AHRA) show.

Major Players: Canon Inc., Carestream Health, Fujifilm Holding Corporation, Heska Corporation, IDEXX Laboratories, iM3Vet Pty Ltd, Vetel Diagnostics, and Vet-Ray by Sedecal, among others.

Veterinary Radiography Systems Market Report Summary

Metrics

Details

Industry

Veterinary Radiography Systems  Market

Forecast Period

2018 – 2023

Growth Rate

6.0%

Largest Market Share by Region

North America

Key Developments

Jul 2017: Canon USA Inc., and Virtual Imaging, Inc., a wholly owned subsidiary of Canon USA Inc., launched the new Canon series of CXDI Digital Radiography (DR) Detectors at the 2017 Association for Medical Imaging Management (AHRA) show.

Companies Covered

Canon Inc., Carestream Health, Fujifilm Holding Corporation, Heska Corporation, IDEXX Laboratories, iM3Vet Pty Ltd, and Vetel Diagnostics, Vet-Ray by Sedecal, among others.

Report Offerings

Veterinary Radiography Systems Market report offers latest trends,   growth prospects, industry competitiveness,   major players, value/supply chain, regional market share and forecast to 2023.

Reasons to Purchase Veterinary Radiography Systems Market Report

  • Analyzing various perspectives of the global veterinary radiography systems market with the help of Porter’s five forces analysis
  • The segment that is expected to dominate the market
  • Regions that are expected to witness fastest growth during the forecast period
  • Identify the latest developments, market shares, and strategies employed by the major market players
  • 3-month analyst support along with the market estimate sheet (in Excel)

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TABLE OF CONTENTS

1. Introduction

                1.1 Market Definition

2. Research Methodology

3. Executive Summary

4. Key Inferences

5. Market Overview

                5.1 Current Market Scenario

                5.2 Porter's Five Forces Analysis

                                5.2.1 Bargaining Power of Suppliers

                                5.2.2 Bargaining Power of Consumers

                                5.2.3 Threat of New Entrants

                                5.2.4 Threat of Substitute Product and Services

                                5.2.5 Competitive Rivalry within the Industry

6. Drivers, Restraints, Opportunities, and Challenges (DROC) Analysis 

                6.1 Market Drivers

                                6.1.1 Increase in Animal Adoption

                                6.1.2 Rise in Prevalence of Injuries and Diseases in Animals

                                6.1.3 Technological Advancements

                6.2 Market Restraints

                                6.2.1 High Cost of Imaging Instruments

                                6.2.2 Shortage of Skilled Personnel

                6.3 Opportunities

                6.4 Key Challenges

7. Market Segmentation

                7.1 By Product

                                7.1.1 Digital X-Ray

                                7.1.2 Analog X-Ray

                7.2 By Application

                                7.2.1 Orthopedic and Rheumatology

                                7.2.2 Cardiology

                                7.2.3 Oncology

                                7.2.4 Nephrology

                                7.2.5 Other Applications

                7.3 By Geography

                                7.3.1 North America

                                                7.3.1.1 United States

                                                7.3.1.2 Canada

                                                7.3.1.3 Mexico

                                7.3.2 Europe

                                                7.3.2.1 France

                                                7.3.2.2 Germany

                                                7.3.2.3 United Kingdom

                                                7.3.2.4 Italy

                                                7.3.2.5 Spain

                                                7.3.2.6 Rest of Europe

                                7.3.3 Asia-Pacific

                                                7.3.3.1 China

                                                7.3.3.2 Japan

                                                7.3.3.3 India

                                                7.3.3.4 Australia & New Zealand

                                                7.3.3.5 South Korea

                                                7.3.3.6 Rest of Asia-Pacific

                                7.3.4 Middle East & Africa

                                                7.3.4.1 GCC

                                                7.3.4.2 South Africa

                                                7.3.4.3 Rest of the Middle East & Africa

                                7.3.5 South America

                                                7.3.5.1 Brazil

                                                7.3.5.2 Argentina

                                                7.3.5.3 Rest of South America

8. Company Profiles and Competitive Landscape

                8.1 Canon Inc.

                8.2 Carestream Health

                8.3 Fujifilm Holding Corporation

                8.4 Heska Corporation

                8.5 IDEXX Laboratories

                8.6 iM3Vet Pty Ltd

                8.7 Vetel Diagnostics

                8.8 Vet-Ray by Sedecal

                *List Not Exhaustive

9. Future of the Market

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