A Triton Market Research report states that the Asia-Pacific veterinary imaging market is set to grow in terms of revenue with a CAGR of 7.51% during the forecast period 2019 to 2028.
The countries studied in this market include:
• India
• Japan
• China
• Australia & New Zealand
• ASEAN countries
• South Korea
• Rest of PAAC countries
China’s veterinary imaging market has grown at a rapid rate over the last few years, and is undergoing several transformations even at present. People in the country have largely started to adopt pets, particularly cats and dogs. In 2017, 9% of the urban Chinese population owned a pet. With the rise in the population of animals, there has been an increase in the number of diseases as well. The growing prevalence of disease calls for diagnostic imaging, so that the condition affecting them can be accurately diagnosed. Veterinarians make use of imaging technology to examine the brains of these pets and other animals. With the help of this technology, they are also able to obtain effective scans of the orthopedic and soft tissues in the animals, before surgery. All these factors have raised the demand for veterinary imaging in China, which is leading to the growth of its veterinary imaging market.
Statistics suggest that veterinarian fees (per household), in Japan, increased by a solid 20% from 2010 to 2017. Therefore, the percentage of people buying medical insurance for their pets is also starting to rise, so that they can receive accurate diagnosis and avail effective treatment for their pets. With increasing age, their ailments like diabetes, chronic kidney disease, and others, also rise. It thus becomes imperative to have one’s pets tested. In 2017, Arkray, a Kyoto-based company, launched a device that efficiently tests the renal function of cats and dogs. These kind of developments suggest there is an increase in the adoption of diagnostic techniques in the country. This is helping the Japanese veterinary imaging market to grow further.
Fujifilm Sonosite Inc is one of the noteworthy companies in the veterinary imaging market. Imaging Solutions is one of its core operating segments, and it actively develops, produces, and markets them. Its product portfolio consists of Equine Ultrasound Machines and Small Animal Ultrasound Machines, among others. The company has a major presence in Japan. In July 2019, the company launched Fujifilm Vet Systems Co Ltd, in order to supply a range of medical devices and services to veterinary practitioners in Japan.
The top key players in the veterinary imaging market are Idexx Laboratories Inc, VetZ GmbH, IMV Imaging, Siemens Healthcare GmbH, Sound Technologies, Minxray Inc, Carestream Health, Agfa-Gevaert Group, Esaote SPA, Diagnostic Imaging Systems, Fujifilm Sonosite Inc, General Electric, Hallmarq Veterinary Imaging, Shenzhen Mindray Bio-Medical Electronics Co Ltd, and Heska Corporation.