Market Insights:
The evolvement of pet insurance has made vet fees affordable which has propelled the demand for advanced diagnosis and veterinary imaging tests. Market Research Future (MRFR) has asserted in its latest report that the global veterinary imaging market will expand throughout the forecast period 2017 to 2023 at 6.9% CAGR. The global market was valued at USD 1.24 Bn in 2017 and is projected to reach a valuation of USD 1.85 Bn by the end of 2023.
The growth in the rate of pet adoption backed by reimbursement schemes of insurance policies has fueled the market for veterinary imaging. The increased research and development activities undertaken by the key players for introducing innovation in the market has multiplied the revenue generation from the market. Furthermore, the rising prevalence of zoonotic diseases has fostered a need for improved diagnosis for the animals which has favored the market expansion of veterinary imaging. However, the cost associated with veterinary imaging is high if insurance reimbursement is not availed of, which might restrict the growth of the market during the assessment period.
Global Veterinary Imaging Market Segmentation:
By type, the global veterinary imaging market has been segmented into veterinary imaging instruments, veterinary imaging reagents, and veterinary imaging software.
By product type, the market for veterinary imaging is segmented into large animals, small companion animals, and others.
By therapeutic area, the global veterinary imaging market has been segmented into orthopedics and traumatology, cardiology, neurology, and, oncology.
By end-user, the market for veterinary imaging market is segmented into hospitals & clinics, and, academic institute.
Regional Analysis:
By region, the global veterinary imaging market has been segmented into Americas, Europe, Asia Pacific, and, Middle East & Africa. The Americas market accounts for the most substantial share of the market revenue and is expected to continue exercising its dominance over the assessment period. The Americas market is further sub-segmented into North America and South America with North America leading the growth in the region. According to the American Pet Products Association 2015-2016 (APPA), 85.8 million cats and 78 million dogs were owned in the U.S. alone. The growth in Americas can be attributed to the evolution in the pet healthcare sector. The key driver of the market in this region is the pet insurance and reimbursement policy which has fueled the growth of the veterinary imaging market.
Europe market has been witnessing a gradual increase in the rate of pet adoption which has fueled the demand for veterinary imaging market in the region and is expected to grow persistently over the next couple of years. The Europe market is likely to thrive throughout the projection period with major contributions coming from developed economies such as Germany, France, and, the U.K. Asia Pacific is projected to be one of the largest markets by 2023 with the highest CAGR across the projection period. With the rising pet ownership in the region, the expenditure on pet healthcare is also on a rise which has affirmed the growth of the market over the assessment period. The countries such as India, China, and, Japan will be the primary hub of revenue generation in Asia Pacific market.
Competitive Dashboard:
The key players profiled by MRFR in its report for detailed analysis of the market include Fujifilm Holding Corporation, Idexx Laboratory Inc, BCF Technology, Ltd, Medical Imaging / IMCO, Inc, Merry X-Ray, Carestream Health, General Electric, Heska Corporation, Canon Inc, Esaote SpA, Diagnostic Imaging System, Inc, and, Hallmarq Veterinary Imaging Ltd. The players are striving to gain prominence in the market and strengthen their footholds by implementing strategies such as acquisitions & mergers, expansion of product portfolios, research & development activities, technical advancements, etc.
CGS Hospital, Gurugram (India), is all set for the deployment of Computed Tomography (CT) scanner for pets to make surgical approach easier. According to the hospital authorities, the scanner will be first of its kind in the country and is estimated to cost around USD 20 Mn. Presently, the hospital uses scanners designed for humans to treat the pets. With the deployment of the new CT scanner for pets, the hospital will be better positioned to deal with canine and feline tumors, cancers, and other injuries.
Venous blood collection devices are used to collect sample from patients. Venous blood collection devices include needles, holders, collection tubes, and other devices. As per an in-depth research study published by Market Research Future (MRFR), the global venous blood collection devices market is estimated to post a CAGR of 9.3% over the forecast period of 2017-2023.
Substantial improvements made by medical device manufacturers towards safer blood collection. Advances in safety features and greater emphasis on the prevention of injury and reduction of bloodborne pathogen exposure fuel the growth of the global venous blood collection devices market. Moreover, medical device manufacturers are endeavoring towards product improvement and are diversifying their product portfolios as a growth strategy which also acts as a plus for the growth of the market. Crucial advancements include the introduction of plastic tubes, protective sliding needle shields, automatically retracting lancets, and winged-needle blood collection sets.
Chronic diseases are spreading at a brisk pace which has exerted massive burden on the healthcare sector. Screening for diseases induces high demand for diagnostic services which, in turn, triggers growth within the global venous blood collection devices market. Other factors which can accelerate the market growth include surging health & wellness awareness among the global populace, the rise in disposable income, and high healthcare expenditure.
On the flip side, venous blood collection devices are associated with the risk of needlestick injuries, contamination risks which can restrict the market growth. Additionally, pricing pressure on medical device manufacturers and substandard products from local medical device manufacturers can also undermine the growth of the market.
Venous Blood Collection Devices Market Segmentation
The global venous blood collection devices market has been segmented based on type, material, application, and end user.
By type, the global venous blood collection devices market has been segmented into blood collection tubes, needles, microfluidic system, vacuum blood collection system, micro-container tubes, micro-hematocrit tubes, warming devices, and others. Other venous blood collection devices include venous cannula and blood bags. The blood collection tube segment has been further segmented into plasma separation tube, heparin tube, serum separating tube, EDTA tube, and others.
By material, the global blood collection devices market has been segmented into plastic, glass, stainless steel, ceramic, and others.
By application, the global venous blood collection devices market has been segmented into vein blood gas sampling and intraoperative blood salvage. The vein blood gas sampling segment has been further segmented into diagnosis of disease and acid-base status monitoring.
By end user, the global venous blood collection devices market has been segmented into hospitals and clinics, blood donation centers, the point of care, diagnostic centers, and others.
Venous Blood Collection Devices Market Regional Analysis
By region, the global venous blood collection devices market has been segmented into the Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
The Americas is spearheading the global venous blood collection devices market. Rapid adoption of new surgical techniques and instruments within the healthcare sector in the region are substantiating the growth of the market. High demand for screening services coupled with high healthcare expenditure is driving the market growth. Moreover, greater awareness among consumers and favorable reimbursement landscape support the growth of the market.
Europe ranks second in the global venous blood collection devices market. High-income population and deep healthcare penetration in the region are favoring the growth of the market in Europe.
The expanding healthcare sector in the developing countries such as China and India generate high demand for venous blood collection devices in APAC. The rise in the geriatric population, the prevalence of chronic diseases which require screening services and increased demand for advanced blood sampling techniques are propelling the growth of the APAC venous blood collection devices market.
The MEA market is estimated to expand at a steady pace over the forecast period. Accelerated development of the healthcare sector and awareness programs launched by the government towards safe blood transfusion procedures are triggering growth within the MEA market.
Competitive Landscape
The key players in the global venous blood collection devices market include SanLI (Myanmar.), KHB (U.S.), Allegro Medical Supplies Inc. (Scrip Products Corporation) (U.S.), Bio-Rad Laboratories, Inc. (U.S), Kabe Labortechnik GmbH (Germany), NIPRO Medical Corporation (Japan), Qiagen NV (Netherlands), Sarstedt AG & Co (U.S.), Fisher Scientific (Thermo Fisher Scientific Inc.) (U.S.), Greiner Bio One International GmbH (Greiner Group) (Austria), Becton, Dickinson and Company (U.S), Terumo Medical Corporation (Japan), Medtronic Plc (U.S.), F. Hoffmann-La Roche Ltd (Switzerland), Radiometer Medical ApS (Danaher Corporation/ Danrad ApS) (Denmark), Improve Medical Technology Co. Ltd. (U.S.), Sekisui Chemical Co., Ltd. (Japan), Hongyu Medical (China), Narang Medical (India), Vital Diagnostice (ELITech Group) (U.S.), Zhejiang Gongdong Medical Technology Co., Ltd. (China), CDRICH (China), Biosigma (U.S.), Soya Green Tec Co., Ltd. (South Korea), and F.L. Medical (Italy).
Industry Updates
March 2019- Becton Dickinson & Co., a medical technology company, announced that the US FDA had granted pre-market approval for its new Venovo stent. The new device is ideally suited for the treatment of iliofemoral occlusive disease and specially designed to address the challenges associated with venous lesions.
Read More @ https://www.marketresearchfuture.com/reports/veterinary-imaging-market-2919
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