Veterinary X-ray Market Driving Factors And Future Trends

By Author: robert henric
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The report “Veterinary X-ray Market by Technology (Direct, Computed, Film), Type (Digital, Analog), Mobility (Fixed, Portable), Animal (Companion, Large Animal), Application (Trauma, Oncology, Dental), End User (Clinic, Hospital) – Forecast to 2023″, the Animal X-ray Market is projected to reach USD 872 million by 2023 from an estimated USD 640 million in 2018, at a CAGR of 6.4%.

The Rising animal health expenditure and growing demand for pet insurance, increasing number of veterinary practitioners in developed regions, and growth in the companion animals market are the primary drivers for the veterinary X-ray market during the forecast period.

Market Size Estimation

Both top-down and bottom-up approaches were used to estimate and validate the total size of the global veterinary X-ray industry. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

- The key players in the industry and markets have been identified through extensive secondary research.

- The industry’s ...
... supply chain and market size, in terms of value, have been determined through primary and secondary research processes.

- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

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“Computed Radiography Systems Accounted for the Largest Market Share in 2017”

On the basis of technology, segmented into direct radiography (DR), computed radiography (CR), and film-based radiography systems. The computed radiography systems segment accounted for the largest share of the veterinary X-ray market in 2017. Benefits offered by CR systems over traditional X-ray systems, resulting in a large-scale replacement of traditional film X-ray systems, is the major factor responsible for the large share of this segment.

Geographical View in-detailed:

The veterinary X-ray market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America accounted for the largest share of this market in 2017. Rising number of veterinary practices, increasing number of companion animals, and rising companion animal healthcare expenditure are some of the key factors driving the growth of the animal X-ray market in North America.

Global Key Leaders:

The prominent players in the veterinary X-ray market are IDEXX (US), Fujifilm (Japan), Onex Corporation (Canada), Sedecal (Spain), Agfa-Gevaert (Belgium), Sound Technologies (US), Fujifilm Holdings Corporation (Japan), Canon, Inc. (Japan), Examion (Germany), Konica Minolta (US), DRE Veterinary (US), and Heska Corporation (US).

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Onex Corporation is the leading player in the veterinary X-ray market. The company provides imaging systems through its subsidiary Carestream Health. Onex focuses on organic and inorganic growth strategies to strengthen its product portfolio. For instance, in 2015, the company launched the Vita Flex CR X-ray system for companion and livestock animals to cater to the specific needs of the animal X-ray market.

IDEXX is the second-largest player in the market. The company has a strong presence in more than 175 countries worldwide. The company focuses on the strategy of product launches to strengthen its product portfolio and increase its geographic presence. For instance, in 2016, the company launched the ImageVue DR50 Digital Imaging System, the first radiography system in veterinary medicine to enable low-dose radiation image capture without sacrificing clear, high-quality diagnostic images.

Agfa-Gevaert Group has gained a significant position in the veterinary X-ray market on account of its diverse product portfolio. The company has a strong portfolio of digital radiography (DR) systems for small animals and equines. The company’s DR solutions are widely used across the globe. The company has a strong focus on research and development activities its R&D expenditure increased from 8.4% in 2016 to 8.8% in 2017. Agfa has more than 40 wholly owned sales organizations worldwide and a network of agents, distributors, and representatives.