North America dominated the veterinary X-ray market in 2017; this trend is expected to continue during the forecast period

Northbrook, IL -- (SBWire) -- 04/26/2021 --According MarketsandMarkets™ Research – The Veterinary X-ray Market is projected to reach USD 872 million, at a CAGR of 6.4%

Major Market Growth Drivers:

- Growth in Companion Animal Population
- Rising Demand for Pet Insurance With Growing Animal Health Expenditure
- Growth in the Number of Veterinary Practitioners and Income Levels in Developed Economies
- Untapped Emerging Markets

Data Triangulation;

After arriving at the overall Animal X-ray Market size using the market size estimation processes as explained above the market was split into several segments and subsegments. In order to complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both, the demand and supply sides.

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Market Segmentation in Detailed:

On the basis of technology, segmented into direct radiography (DR), computed radiography (CR), and film-based radiography systems. The computed radiography systems segment accounted for the largest share of the veterinary X-ray market in 2017. Benefits offered by CR systems over traditional X-ray systems, resulting in a large-scale replacement of traditional film X-ray systems, is the major factor responsible for the large share of this segment.

Based on the type of animal, segmented into small companion animals and large animals. The small companion animals segment accounted for the largest share of the animal X-ray market. The large share of this segment can be attributed to the growing companion animal population, increasing pet care expenditure, growing demand for pet insurance, and technological advancements in imaging modalities for small companion animals.

Recent Developments in veterinary X-ray market:

- In 2018, Heska Corporation (US) formed a partnership with Pathway Vet Alliance (US). Under the terms of this agreement, Pathway plans to align its internal diagnostic portfolio with Heska, which can provide in-house operational services like point-of-care blood diagnostics, digital imaging, and allergy testing.

- In 2018, Carestream Health signed a service partnership agreement with Med Imaging Healthcare, a Diagnostic Imaging equipment maintenance company. The partnership was aimed at providing wider maintenance coverage and support for Carestream customers across Scotland.

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Geographical Scenario: North America accounted for the largest share of the veterinary X-ray market in 2017, followed by Europe and the Asia Pacific. Rising number of veterinary practices, increasing number of companion animals, and rising companion animal healthcare expenditure are some of the key factors driving the growth of the x-ray market in North America.

The prominent players in the veterinary X-ray market are IDEXX (US), Fujifilm (Japan), Onex Corporation (Canada), Sedecal (Spain), Agfa-Gevaert (Belgium), Sound Technologies (US), Fujifilm Holdings Corporation (Japan), Canon, Inc (Japan), Examion (Germany), Konica Minolta (US), DRE Veterinary (US), and Heska Corporation (US).