Triton Market Research has concluded that the North America veterinary imaging market is projected to grow at a CAGR of 4.95% in the estimated years 2019-2028.
The countries scrutinized in this market are:
• The United States
• Canada
A survey conducted by the Canadian Animal Health Institute has put forth that, there were nearly 8.3 million cats and8.2 million dogs in the country in 2018. This report also stated that, there was a substantial increase in the population of pets in the two-year period between 2016 and 2018, with 38% of the households owning at least one cat, and 41% owning at least one dog. The last few years have seen a considerable increase in the prevalence of animal diseases, which has raised concerns among Canadian pet owners.
Pet owners are, therefore, spending increasingly on their pets’ healthcare. This has made Canada a strong market for pet insurance. The growing number of pet owners opting for insurance raised the demand for better healthcare services. This has, in turn, influenced the demand for diagnostic imaging in animals. This technique facilitates early and efficient disease diagnosis, and has thus been growing in demand. This increasing demand is positively influencing the growth of the Canadian veterinary imaging market.
In contrast, livestock ownership decreased marginally in 2018, by 1.1%, when compared to the preceding year. However, on the bright side, the revenue obtained from livestock products, in the same period, showed an increase, states the Agriculture and Agri-Food Canada organization. With a better income, farmers are now investing in the welfare of the livestock. They have realized the importance of maintaining good health of their animals, in order to obtain quality products from them. The increased expenditure has thereby increased the demand for advanced techniques like animal diagnostic imaging. And this has favored the growth of the nation’s veterinary imaging market.
Heska Corporation is engaged in manufacturing, developing, and selling advanced veterinary diagnostic and specialty healthcare products. The company operates its business via two business segments, the first being Core Companion Animal Health, and the second being Other Vaccines and Pharmaceuticals. Its product, Cuattro DR, is used for small animals’ digital radiography. Denti Pod is used for dental radiography in horses; whereas, Sono Pod is a wireless and portable ultrasound system. The company is headquartered in Colorado, the United States.
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.