The Veterinary X-ray Market is projected to reach USD 872 million by 2023 from USD 640 million in 2018, at a CAGR of 6.4%.
Market Size Estimation;
Both top-down and bottom-up approaches were used to estimate and validate the total size of the global veterinary X-ray industry. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
- The key players in the industry and markets have been identified through extensive secondary research.
- The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
After arriving at the overall 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:
“Computed Radiography Systems Accounted for the Largest Market Share in 2017”
On the basis of technology, the veterinary X-ray market is 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.
“Small Companion Animals Segment Held the Largest Share of the Veterinary X-ray Market in 2017”
Based on the type of animal, the veterinary X-ray market is segmented into small companion animals and large animals. The small companion animals segment accounted for the largest share of the veterinary X-ray market in 2017. 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.
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- Further breakdown of the Rest of Europe veterinary X-ray market into Belgium, the Netherlands, and Denmark
- Further breakdown of the Latin American veterinary X-ray market into Brazil, Argentina, and the Rest of Latin America
North America accounted for the largest share of the veterinary X-ray market, 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 veterinary 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).