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HEALTHCARE & PHARMACEUTICAL

Veterinary Computed Tomography Scanner Market Analysis by Type (Portable CT, and Multi-Slice CT Scanners); by Animal Type (Small Companion, Equine & Livestock, and Others); by Disease (Cardiovascular, Cancer, Appendicitis, Trauma, Infectious Disease, Musculoskeletal, and Others); by Application (Oncology, Neurology, Orthopedics, and Others); and by End-User (Veterinary Hospitals, Clinics, Research Institutes, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • Heska Corporation has acquired VetZ GmbH ("VetZ"), a European organisation dealing in veterinary practice information management software solutions ("PIMS"). This strategic acquisition is projected to enhance Heska Corporation's portfolio of advanced veterinary diagnostic and specialty products and solutions.

  • Woorien Co. Ltd has launched the "MyVet CT i3D", a new Spiral CT Scanner, that delivers superior soft tissue image contrast with 3D reconstruction of soft tissue structures. It provides high quality images with whole diagnostic details of the internal organs, soft tissues, blood vessels, and bones.

Global Veterinary Computed Tomography Scanner Market Highlights Over 2023 - 2033

Base Year

2022

Forecast Year

2023-2033

CAGR

~8%

Base Year Market Size (2022)

~ USD 175 Million

Forecast Year Market Size (2033)

~ USD 355 Million

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)

 

The global veterinary computed tomography scanner market is estimated to garner a revenue of ~USD 355 Million by the end of 2033 by growing at a CAGR of ~8% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 175 Million in the year 2022. The growth of the market is primarily attributed to the increasing adoption of animals worldwide, coupled with the significant advancements in technologies. It is observed that pet ownership is anticipated to account for nearly 17.3 million households in 2022.

Veterinary-Computed-Tomography-Scanner-Market-overview. Get more information on this report:Download Sample PDF

The veterinary CT scanners aid in the detection of any complications in animals. Furthermore, these devices are being used in several university teaching hospitals & academic institutes to do practice work on companion animals. Therefore, the rising count of companion animals, along with the growing research work on those animals are fueling up the growth of the market over the forecast period. As per a survey data, approximately 72% of all US households had a companion animal between the years 2021 to 2022.

Global Veterinary Computed Tomography Scanner Market: Growth Drivers and Challenges

Growth Drivers

  • Boost in Zoonotic Diseases - An infectious disease known as a zoonosis has spread from vertebrate animals to people. Zoonotic pathogens, that are bacterial, viral, or parasitic, are sometimes transmitted from animals—domestic, farm, or wild—to humans directly, or through food and water. They lead towards a wide range of disorders in people, from minor to severe, and even death. SARS, MERS, Ebola, rabies, and certain strains of influenza are some of the most well-known zoonotic diseases. As per the World Economic Forum, it is anticipated that zoonotic diseases end up causing 60% of recognized infectious diseases and up to 75% of newly discovered or emerging infectious diseases. Therefore, a quick diagnosis is very essential for stopping the spread of such diseases in humans, where veterinary computed tomography have been using by several veterinary clinics.

  • Global Increase in Animal Derived Dairy Products – For instance, in 2019, global milk production (81% cow milk, 16% buffalo milk, and 5% goat, sheep, and camel milk coupled) increased by 1.2% to approximately 853 Mt.

  • Surge in Meat Consumption – According to the World Economic Forum, every year, it is anticipated that 50 billion chickens are killed for food. In contrast, over 1.5 billion pigs are killed every year to satisfy the world's growing demand for sausages, bacon, ham, and pork, which has expanded by threefold over the past 50 years.

  • Worldwide Spike in Pet Insurance – As per a report, at the end of 2021, the total number of pets insured in the United States was 3.8 million, that denotes a 29% rise from the 2020.

  • Escalating Per Capita Income - As per the data provide by the World Bank, compared to 2019, the global annual per capita income increased by 4.8% in 2021, while it only increased by 1.5% in 2019.

Challenges

  • Surge in the Expenses of Pet Care – There is a significant surge in pet care across the globe. Now, people are more inclined to spend high amount pet care consisting their grooming, food, toys, and other veterinary procedures. For instance, in the United States, pet care expenses increased from USD 104 billion in 2020 to USD 123 billion in 2021. Hence, this factor is estimated to restrain the growth of the market.

  • High Cost of Veterinary CT Scanners

  • Lack of Skilled Veterinary Practitioners

The global veterinary computed tomography scanner market is segmented and analyzed for demand and supply by animal type into small companion, equine & livestock, and others, out of which, the small companion segment is estimated to grow over the forecast period owing to the rising count of small companion animals as a pet, followed by the increasing concern in their owners regarding their health issues, and rising preference of vet practitioners for using computed tomography canner for better diagnostics. For instance, as of 2022, cats are the most popular household pet in the Europe with an estimated 110.16 million owned cats.

Global Veterinary Computed Tomography Scanner Market Regional Synopsis

The North America veterinary computed tomography scanner market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033 backed by the growing pet adoption, followed by the surging demand for veterinary computed tomography scanners by the end users, existence of various healthcare program associated with animals, and increasing prevalence of several animal diseases in the region. For instance, it is observed that every year nearly 3.3 million animals get adopted in the United State.

Market Segmentation

Our in-depth analysis of the global veterinary computed tomography scanner market includes the following segments:

       By Type

  • Portable CT
  • Multi-Slice CT Scanners

       By Animal Type

  • Small Companion
  • Equine & Livestock
  • Others

       By Disease

  • Cardiovascular
  • Cancer
  • Appendicitis
  • Trauma
  • Infectious Disease
  • Musculoskeletal
  • Others

        By Application

  • Oncology
  • Neurology
  • Orthopedics
  • Others

        By End-User

  • Veterinary Hospitals
  • Clinics
  • Research Institutes
  • Others

Top Featured Companies Dominating the Global Veterinary Computed Tomography Scanner Market

  • GE Healthcare

    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Toshiba Medical Systems Corporation
  • Siemens AG Koninklijke Philips N.V
  • Carestream Health, Inc.
  • Woorien Co., Ltd
  • Samsung Electronics Co. Ltd. (Neurologica Corporation)
  • Hitachi, Ltd.
  • Animage, LLC
  • B. Braun Melsungen AG
  • Heska Corporation

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