Industry Outlook

The veterinary radiography systems market is set to reach US$ xx Mn by 2029 from US$ xx Mn in 2020 projecting steady growth at a compound annual growth rate (CAGR) of 6.5% during the forecast period from 2021 to 2029. As per the latest research findings of World Organization for Animal Health (OIE), in 2021, 117 animal diseases and infections were noted that caused huge economic burden on animal health. If veterinary diseases are not prevented or treated there will be abrupt rise in zoonotic diseases which eventually costs human health dearly.

Radiography systems are the most preferred diagnostic technique used by veterinarian throughout the globe for detecting health ailments in animals. Medical device manufactures are actively striving to develop state of the art radiography systems. There has been a shift in radiography systems from conventional film based x-ray devices to portable digital x-ray devices. However, competition exerted by other imaging systems such as ultrasound imaging, video endoscopy imaging etc. and dearth of skilled workforce hinder the veterinary radiography market growth.

"Outstanding image capturing ability and short image processing time has led to the increasing popularity for digital x-ray devices"

Analog x-ray devices is a very old technique used in veterinary diagnostics which employs films or CR cassette for capturing images. They have been proven to be reliable & robust and is available at low cost. Digital x-ray devices are gradually replacing the analog x-ray devices throughout the globe. The inherent features of digital x-ray devices responsible for its dominance are excellent images captured on flat panel detectors, less labor intensive and short image processing time. Digital x-ray devices in comparison to analog x-ray devices does not require taking multiple images for same position and performs accurate interpretation with data archiving features.

"Excellent shelf life of records and less time required for image generation propel the digital radiography system market"

In the present scenario computed radiography is dominating the veterinary radiography system market by technology. Computed radiography is the digital replacement of the traditional x-ray film radiography. The inherent features associated with computed radiography are reusable imaging plates, no darkroom required, reduction in the exposure & processing time and software based evaluation and reporting. Digital radiography will be trendsetter during the forecast period and is on the verge of surpassing the computed radiography systems. Excellent shelf life of records and minimal time required for image generation and interpretation stimulate the digital radiography market growth. The latest trend in digital imaging adopted in developed countries is Digital Imaging and Communication in Medicine (DICOM), it assists in capturing images which can be easily altered and manipulated.

"Rising prevalence of zoonotic diseases and developing livestock industry to drive the veterinary radiography system market in Asia Pacific"

North America is currently leading the regional segment for veterinary radiography systems market with 35% share. Existence of a well-developed livestock industry for meat & dairy products and domicile of key players such as Canon, Inc., Carestream Health and Vetel Diagnostics drive the market growth in North America. Rising adoption of companion and pet animals propel the radiography system market growth in Europe. Increased funding in the technological advancement of digital and computed radiography system by pioneers such Philips Healthcare and Siemens Healthcare GmbH etc., stimulate the market growth in Europe. Rising prevalence of zoonotic diseases and increasing awareness regarding animal health influence the radiography system market growth in Asia Pacific region. Latin America and Africa serve as a lucrative market for major players to promote business expansion by establishing subsidiaries to cater the burgeoning requirement of huge cattle reservoir and untapped market in remote areas.

Inorganic and organic market growth analysis were studied to determine the market assessment for veterinary radiography systems. Qualitative information regarding the latest technological advancement in the digital and computed radiography segment are thoroughly covered in the scope of the report. The adoption criteria of radiography systems for the screening of veterinary animals in hospitals, clinics and diagnostic centers are studied in the regional segment. Competitive landscape is mapped to understand the prevailing competition among the major players. The product portfolio segment is used for mapping different types of computed radiography and digital radiography systems available in the market. The major players engaged in the manufacturing of radiography systems are Canon, Inc., Carestream Health, Fujifilm Holding Corporation, Heska Corporation, IDEXX Laboratories, iM3/Durr Medical, Philips Healthcare, Siemens Healthcare GmbH, Vetel Diagnostics and VIDISCO.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Veterinary Radiography System market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Veterinary Radiography System market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Veterinary Radiography System market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Veterinary Radiography System market?
• Which is the largest regional market for Veterinary Radiography System market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Veterinary Radiography System market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Veterinary Radiography System market worldwide?