Veterinary Computed Tomography Scanner Market Trends

  • Report ID: 4325
  • Published Date: Feb 14, 2023
  • Report Format: PDF, PPT

Veterinary Computed Tomography Scanner Market Trends

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

Veterinary Computed Tomography Scanner Market: Key Insights

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)
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Author Credits:  Radhika Pawar


  • Report ID: 4325
  • Published Date: Feb 14, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Boost in zoonotic diseases, global increase in animal derived dairy products, surge in meat consumption, and worldwide spike in pet insuranceare some major factors driving the growth of the market.

The market is anticipated to attain a CAGR of 8% over the forecast period, i.e., 2023-2033.

High cost of veterinary ct scanners, surge in the expenses of pet care, and lack of skilled veterinary practitioners are estimated to hamper the market growth

The market in North America is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

The major players in the market areGE Healthcare, Toshiba Medical Systems Corporation, Siemens AG,Koninklijke Philips N.V, Carestream Health, Inc., Woorien Co., Ltd,Hitachi, Ltd., Animage, LLC, and others.

The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by type, animal type, disease, application, end-user,and by region.

The small companion segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.
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