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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

  • January 3rd, 2022: Heska Corporationhas 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.
  • May 6th, 2020: Woorien Co. Ltdhas 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 ScannerMarket 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

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. It is observed that pet ownership is anticipated to account for nearly 17.3 million households in 2022.

Veterinary-Computed-Tomography-Scanner-Market-overview

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A veterinary computed tomography scanner is an imaging device utilized particularly fordomestic animals and pets.These veterinary CT scanners aid in the detection of any complications in animals.Furthermore, these devices are being used in several university teaching hospitals & academic institutesto do practice work on companion animals. Therefore, the rising count of companion animals is 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 ScannerMarket: 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 –Animal derived dairy products include milk and dairy products, and eggs. The massive increase in the consumption of these products is also driving the demand for veterinary computed tomography scanners to frequent checkup to detect the health concern in animals.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

  • High Cost of Veterinary CT Scanners
  • Surge in the Expenses of Pet Care
  • Lack of Skilled Veterinary Practitioners

The global veterinary computed tomography scannermarket is segmented and analyzed for demand and supply by animal type intosmall 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, and increasing concern in their owners regarding their health issues.For instance, as of 2022, cats are the most popular household pet in the Europe with an estimated 110.16 million owned cats.

Major Macro-Economic Indicators Impacting the Market Growth

Global-Healthcare-Expenditure

According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capitaexpenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.

Global Veterinary Computed Tomography Scanner Market Regional Synopsis

Regionally, the global veterinary computed tomography scannermarket is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in North America is projected to hold the largest market share by the end of 2033 backed by the growing pet adoption, up 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.

Veterinary-Computed-Tomography-Scanner-Market-Size-Share

The global veterinary computed tomography scannermarket is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

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 GlobalVeterinary 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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