Veterinary Imaging Market- Trends, Global Demand and Report

 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.

Global Veterinary Imaging Market  - Overview

The global veterinary imaging market has been evaluated as steadily growing market and it is expected that the market will continue to grow similarly in the near future. Veterinary deals with diagnosis and treatment of diseases in animals. Veterinary imaging devices are useful in diagnosis and treatment of diseases in animals. These devices also gives clear understanding of disease or injury that helps veterinarian for treatment of animal. Increasing awareness about animal healthcare and improvement of animal life are key factors for the growth of the market. Disease pattern in animals are continuously changing and becoming more challenging for veterinarians to diagnose these diseases. Veterinary imaging devices gives them in accurate diagnosis and further treatment. Increasing pet adoption is another major factor for the growth of the market. Increasing number of veterinarians, veterinary clinics and growing veterinary healthcare infrastructure are driving the growth for the market. Cattle are very important part of farming that have economic importance because they provides many products like milk, meat and leather. Farmers are becoming more aware about the health of their cattle which is good sign for the growth of the market. About 75% of veterinarians are working in private hospitals or pet clinics and these hospitals or clinics are spending money in advancement of technology to provide better facilities. Veterinary imaging devices manufacturers are spending money to develop innovative and usable product for the market. However there are some factors are inhibiting the growth of the market such as high cost of devices that small clinics cannot afford, lack of knowledge about new technology or products, availability of products, access to veterinary healthcare facilities, lack of skilled veterinary professionals etc.

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Global Veterinary Imaging Market - Regional Analysis

Depending on geographic region, veterinary imaging market is segmented into four key regions: Americas, Europe, Asia-Pacific, and Middle East & Africa. Considering the global scenario of the market, North America holds be the largest market for veterinary imaging due to increasing awareness about animal healthcare and increasing investment in healthcare domain. Moreover the European market is also growing and second largest market for Veterinary Imaging. On the other hand, Asia-Pacific market is expected to grow at the fastest pace in the Veterinary Imaging during the forecasted period. Whereas, The Middle East & Africa have the least market share. Additionally, factors such as lack of awareness, low healthcare expenditures will restrain the market during the corresponding period.

Top Companies:

Atlantis Worldwide (US), Canon Inc. (Japan), Diagnostic Imaging Systems, Inc. (US), Fujifilm Holdings Corporation (Japan), GE Healthcare (US), Hitachi, Ltd (Japan), Medical Imaging / IMCO, Inc. (US), Sectra (Sweden), Siemens AG (Germany), Toshiba Medical Systems Corporation (Japan) are some of the prominent players at the forefront of competition in the Global Veterinary Imaging Market and are profiled in MRFR Analysis. 

Global Veterinary Imaging Market  - Competitive Analysis

Characterized by the presence of several well-established and small players, the global market of veterinary imaging appears to be highly competitive and fragmented. Major market players who are increasingly expanding their footprint in the developing economy, making it difficult for regional vendors to compete with them, especially in terms of features such as product differentiation, product portfolios, quality, and pricing.  The Market is witnessing intensified competition which is expected to get more intensified further during the forecast period. The intense competition prevalent in the market dictates the consolidation among marketers. Therefore, key players ensure that their portfolio includes products both for treating sick animals and for preventing disease occurrence.

December, 2015 - Fujifilm and Anicom Holdings, Inc. entered into partnership and established joint venture for developing and providing cutting-edge veterinary technologies and services with focus on regenerative medicine. According to company reports, it had developed advanced veterinary medicine by combining Fujifilm's advanced production engineering and quality control technology nurtured in its photographic film business as well as diagnostic imaging technology, blood's chemical composition analysis technology and regenerative medical technology, with Anicom's veterinary hospital network, electronic medical record system and extensive animal treatment data. Moreover, the company had conducted science-based clinical research such as regenerative medicine including cell therapies.

Well established players incorporate acquisition, collaboration, partnership, expansion, and product launch in order to gain competitive advantage in this market and to maintain their market position.

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About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

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Elastography Imaging Market Trends, Global Analysis and Forecast

 Elastography Imaging Market Analysis 

The global elastography imaging market is estimated to grow at an 11.1% CAGR between 2019-2025, reveals the new Market Research Future (MRFR) report. Elastography, simply put, is a medical imaging mode that maps the stiffness & elastic properties of soft tissue. Owing to its magnificent features, elastography imaging has wide applications in orthopedic and musculoskeletal applications, vascular, urology, obstetrics/gynecology, cardiology, radiology/general imaging, and others.

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Numerous factors are adding to the global elastography imaging market growth. Such factors, according to the recent MRFR report, include the growing demand for effective therapies for treating complicated disorders, changes in regulatory policies, increasing incidence of life-threatening diseases, and burgeoning demand for procedures that are minimally invasive to diagnose as well as treat various chronic diseases. 

On the contrary, the high price of systems may limit the global elastography imaging market growth over the forecast period. 

Regional Analysis 

By region, the global elastography imaging market report covers the growth opportunities and recent trends across Europe, the Americas, the Middle East & Africa (MEA), and the Asia Pacific (APAC). Of these, the Americas will have the lions share in the market over the forecast period. Factors adding to the global elastography imaging market growth in the region include the increasing use of new technology, rising per capita healthcare expenditure, and increasing expenditure by healthcare bodies in research. Canada and the United States are the key contributors in the region for improving reimbursement scenario and a rise in insurance coverage. 

The global elastography imaging market in Europe is predicted to hold the second-largest share over the forecast period for the involvement of top companies, rise in chronic diseases, and the presence of an established healthcare system. 

The global elastography imaging market in the APAC region will have steady growth over the forecast period for the favorable initiatives undertaken by the government for healthcare reforms and the rising prevalence of chronic diseases. Meanwhile, a fall in capital investment may hinder the market growth. 

The global elastography imaging market in the MEA will have a small share during the forecast period for the region’s low disposable income and limited access to medical treatment facilities. 

Market Segmentation

The MRFR report provides an inclusive segmental analysis of the global elastography imaging market based on end user, application, and modality. 

By modality, the elastography imaging market is segmented into magnetic resonance elastography (MRI) and ultrasound. Of these, the ultrasound segment will lead the market over the forecast period for the plentiful benefits that it offers. Meanwhile, magnetic resonance elastography will grow at the fastest pace for its increasing adoption rate and wider availability. 

By application, the elastography imaging market is segmented into orthopedic and musculoskeletal applications, vascular, urology, obstetrics/gynecology, cardiology, radiology/general imaging, and others. Of these, radiology/general imaging will dominate the market over the forecast period for the rising prevalence of chronic diseases worldwide. Meanwhile, the cardiology segment will grow at the fastest pace over the forecast period for the increase in the patient population. 

By end user, the elastography imaging market is segmented into research laboratories, diagnostic centers, hospitals and ambulatory surgical centers, and others. Of these, hospitals and ambulatory surgical centers will have a major share in the market over the forecast period. Rising number of hospitals coupled with the increasing number of hospitalizations are adding market growth. Meanwhile, the diagnostic centers will grow at the fastest pace over the forecast period for inclination towards these centers and increased patient preference. 

 Key Players

Leading players profiled in the global elastography imaging market report include General Electric Company, Supersonic Imagine, Samsung Electronics (Samsung Medison), Koninklijke Philips N.V., Mindray Medical International Ltd., Resoundant Inc., Hitachi Ltd., Esaote, Fujifilm Holdings Corporation, Siemens AG, and Canon Medical Systems Corporation. 

Industry News

November 2019: SimonMed Imaging is the first to provide advanced screening for fatty liver disease. The VIDA 3T MRI helps to detect fibrosis resulting from fatty liver disease or other chronic liver diseases. It uses MRE (magnetic resonance elastography) that combines sound waves with MRI to develop an elastogram (visual map) to show the stiffness of the body tissue, thus offering radiologists with color contrasted clear visual, maximizing accuracy, and limiting error.

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About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

Contact:

Market Research Future

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Magarpatta Road, Hadapsar,

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NOTE : Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.

 

Augmented Reality in Healthcare Industry Size, Share, Future Growth, Competitor Landscape, Topmost Players by 2027

 Augmented Reality in Healthcare Market Analysis

Global augmented reality in healthcare market is anticipated to expand at a whopping 23% CAGR over the assessment period (2017-2023). Augmented reality has gained immense prominence amid medical personnel for different applications including rehabilitation, minimally-invasive surgery and surgical preparation assessment. It has worked wonders in transforming the medical device sector and medicine simultaneously. This is basically a concept where real life elements are enhanced through additional visual information post recognizing the environment for guiding the augmentation which is, positioning and orientating the augmented content. Patients and doctors can use connected gadgets such as a tablet or a smartphone for leveraging this technology and adding valuable data in their treatment and the strides that are made in connected glasses and lenses will make this information access more seamless in the upcoming years. Augmented reality for patients can improve the treatment quality significantly that they get from the healthcare provider. Its key applications in the healthcare domain include fitness management, conducting complex surgeries, pharmacy benefit management, medical training, care management and patient education.

There are myriads of factors that is propelling the augmented reality in healthcare market growth. The different market factors and trends in this market according to an analysis conducted by MRFR (Market Research Future) include advancement in technology, growing need for virtual reality in healthcare, rising workload of healthcare experts, rising regulatory compliance for proper use of augmented reality in the healthcare domain, increasing healthcare expenditure, rising penetration of connected devices, and innovations in medical diagnostics. On the contrary, data security concern and high cost of augmented reality may restrict the demand of the augmented reality in healthcare market during the assessment period.

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Augmented Reality in Healthcare Market Key Players

Key players profiled in the augmented reality in healthcare market include Virtually Better (U.S.), Magic Leap, Inc. (U.S.), VirtaMed (Switzerland), Osterhout Design Group (U.S.), HTC (Taiwan), Siemens Healthineers (Germany), Blippar (U.K), Philips Healthcare (Netherlands & U.S.), CAE Healthcare (U.S.), Google LLC. (U.S.), Oculus VR (U.S.), Augmedix (U.S.), 3D Systems (U.S.), Medical Realities (U.K), Atheer (U.S.), Wikitude GmbH (Austria), Mindmaze (Switzerland), DAQRI (U.S.), and Microsoft Corporation (U.S.).

Sept 2018 - Researchers at Purdue University have adopted a new method which allows qualified physicians and surgeons across the world in assisting doctors that are less experienced in rural areas, war zones and natural disasters to perform complicated procedures. 

Augmented Reality in Healthcare Market Segmentation

The MRFR report provides an all-inclusive segmental analysis of the augmented reality in healthcare market on the basis of device type, component and application.

Based on component, it is segmented into software, hardware and others. The hardware is further segmented into cameras, position tracker, projectors, displays, sensors and others.

Based on device type, the augmented reality in healthcare market is segmented into handheld device, head mounted display and others.

Based on application, it is segmented into education, medical training, fitness management and others. 

Augmented Reality in Healthcare Market Regional Analysis

Based on region, the augmented reality in healthcare market covers growth opportunities and latest trends across North America, Europe, Asia Pacific and Rest of the World. Of these, North America will remain the foremost region in the market due to the rising use of consumer electronic devices that is fueling the growth of the market considerably. This market in Europe is expected to see a rapid growth during the forecast period. On the other hand, the Asia Pacific nations especially India, Japan and China are emerging markets that is expected to expand at a notable CAGR over the assessment period.

Augmented Reality in Healthcare Market Competitive Analysis

Enrichment in services and products is the key factor that is driving the productivity of the market and also controlling the trends which are gaining distinction in the augmented reality in healthcare market. The gaps present in the market are filled owing to the proper execution of supply chain strategies. Here the predilections of the players and the key success factors are growing consistently by the strategies that are used by the market contenders. The augmented reality in healthcare market’s progress rests in the drivers which are changing the market backdrop radically. The growth is modified in tandem as per the preference of the customer to attain utmost growth along with profitability in the future. Moreover, the launch of new services and products will add an extra impetus in the progress of the market. The growth plans have stimulated this market for prospective new entrants.

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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

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Breast Biopsy Market 2021 Receives a Rapid Boost in Economy due to High Emerging Demands by Global Industry

 Breast imaging is a diagnostic procedure used in discerning the presence of malignant tumors near the breast in men and women. Some of the procedures include magnetic resonance imaging (MRI), computed tomography (CT), mammography, and others. The global breast imaging market report by Market Research Future (MRFR) contains historical trends and current drivers with an enumerated list of trends, opportunities, and challenges for making it easier for readers to digest the information.

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Breast Imaging Market Overview

The global breast imaging market size can expand at a CAGR of 8.5% from 2017 to 2023 (forecast period) due to rising cases of breast cancer. According to the World Health Organization (WHO), breast cancer is the second biggest form of cancer with more than 200,000 cases being discerned globally.  Technological breakthroughs in diagnostic equipment and increase in healthcare expenditure of developed and developing economies for tackling the disease can work in favor of the market.

Government initiatives for creating awareness among both the genders as well as new imaging methods for conducting faster breast biopsies can drive the market growth. For instance, the SAVI SCOUT technology can be used to pinpoint the exact location of the tumor by surgeons with the help of an infrared reflector. The need for minimally invasive procedures for biopsies can widen the growth prospects of the global breast imaging market.

But the high cost of breast imaging solutions and low awareness levels of breast cancer among women in low-income economies can restrain the market growth.

Breast Imaging Market Regional Analysis

The Middle East & Africa (MEA), Europe, Asia Pacific (APAC), and the Americas are regions taken into consideration during the compilation of the global breast imaging market report. 

The Americas is one of the biggest regions for the market due to high incidence of breast cancer, development of novel imaging devices, and new imaging devices for faster biopsy results. North America, a prominent area within the Americas, is driven by the large use of screening procedures for breast cancer. The changing lifestyles of women and increasing emphasis on women healthcare can drive the regional demand for breast imaging in the Americas market.

The European region is fueled by the inflow of capital accorded to research and development institutes in economies of Germany and the U.K. The growth witnessed in the medical device industry and availability of breast imaging technologies can augur in favor of the global breast imaging market growth.

The APAC region is fueled by numerous opportunities for expansion in Japan, China, and India. Rising number of investments in the healthcare sector combined with awareness of breast cancer can drive the regional demand for breast imaging devices and latest techniques. The immense demand for cost-effective diagnostic solutions as well as the spate of women health awareness programs can bode well for the global breast imaging market.

Breast Imaging Market Segmentation

The global breast imaging market is segmented on the basis of type, application, and end user.

On the basis of type, market is segmented into PET, mammography, CT, MRI, breast biopsy, tactile imaging, ultrasound, and others. Mammography is further segmented into 3D mammography, film-screen mammography, Full-field digital mammography (FFDM), scintimammography or molecular breast imaging, and others. Breast biopsy is further segmented into ultrasound-guided core biopsy, image-guided breast biopsy, tactic core biopsy, and others.

On the basis of application, the market is segmented into metastatic axillary adenocarcinoma, breast cancer diagnosis, post-neoadjuvant chemotherapy, and others.

On the basis of end user, the market is segmented into diagnostic centers, hospitals, and others.

Breast Imaging Market Competition Outlook

Aurora Imaging Technology, Inc., Sonocine, Inc., General Electric Company, Dilon Technologies, Inc., Koninklijke Philips N.V., Gamma Medica, Inc., Toshiba Corporation, Fujifilm Holdings Corporation, Hologic, Inc., Siemens, and others are prominent names in the global breast imaging market. Partnerships are being increasingly seen for players to showcase their latest products. For instance, Fujifilm has inked a partnership contract with Max Healthcare for training doctors in the latest breast imaging technology.

Industry News

Mammography is one of the latest technologies for identifying lesions in heavy breasts. 3D mammography can identify the same with higher efficiency and accuracy and increasing the diagnosis rate. Follow-up exams of women after removal of surgery from breasts are likely to induce the demand for 3D mammography.

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About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

Contact:

Market Research Future

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Magarpatta Road, Hadapsar,

Pune – 411028

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Email: sales@marketresearchfuture.com

NOTE : Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.

Europe Takes the Lead in Biosimilars Market as Lifestyle-Related Disorders Escalate

 Market Scope

Market Research Future (MRFR) expects the biosimilars market to thrive at a rate of 7.5% from 2020 to 2027 (analysis period).

Major Drivers and Impediments

Overall healthcare costs are rising owing to the high-priced pharmaceutical drugs, particularly biologics. Government bodies worldwide are concentrating on lower-priced drug synthesis. The United States spends the most on healthcare and is therefore, working on cutting down on the same. Likewise, price regulations in India and Japan for reducing the health budget have bolstered the demand for cost containment. This scenario has thrown light on the requirement for new affordable and effective therapeutics, which can be favorable for the biosimilars industry in subsequent years.

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Popular biological drugs are edging towards patent cliff and this can mean substantial profits for the global market. Cost effectiveness of biosimilars, especially compared to the patented biologics and successful outcomes during clinical trials should also benefit the global market. The expanding pharmaceutical sector focused on developing biosimilar drugs can be another key growth booster in the near future.

Market Segmentation

Biosimilars industry can be considered with respect to product, applications, and end users.

The products based on which the market has been split into are recombinant glycosylated proteins, recombinant peptides, and recombinant non-glycosylated proteins. Recombinant non-glycosylated proteins are the biggest segment in the global market, thanks to the soaring cases of chronic disorders ranging from growth hormone deficiency to diabetes. As a result, recombinant non-glycosylated proteins are therapeutically used as they are readily available and are cost-effective.

Application-wise, the biosimilars market caters to chronic diseases, oncology, blood disorders, autoimmune diseases, infectious diseases, growth hormone deficiency, and more. Blood disorders have emerged as the top segment, as a result of the rising burden of the condition worldwide and the increased use of biosimilars by virtue of their low cost and the overall reduction in the treatment cost.

Major end users in the global market are hospitals and clinics as well as research institutes. Hospital and clinics are healthcare settings where treatment options and skilled professionals are easily available, and therefore, have emerged as the leading segment in the global industry.

 

Regional Status

Europe, MEA or Middle East & Africa along with the Americas, APAC or Asia Pacific are the primary markets for biosimilars.

Europe has taken the lead in the global market, as the region houses a vast elderly pool, with close to one fifth of the overall EU population aged more than 65 years. This has given way to several lifestyle-related disorders such as oncology, autoimmune diseases, diabetes, to name a few. Presumably, the scenario has raised the demand for biosimilars and can mean higher market growth over the next few years. In addition to this, numerous blockbuster biologics are on track to lose patent in the coming years, which should present lucrative opportunities to the biosimilar manufacturers.

The North American market displays a bright outlook and can emerge quite lucrative in the coming years, in view of the surging burden of chronic ailments in Canada and the United States. The rising spending on research activities by the healthcare agencies also fuels the market expansion in the region. Favorable reimbursement landscape in the region, especially in the US, encourages healthy competition as it results in lower incentives for the players to compete based on price.

The APAC market is slated to witness considerable growth, with China, South Korea and India offering a host of lucrative opportunities for drug development as well as commercialization. These are generics-driven countries and are known for frequently launching new and advanced manufacturing platforms, which has brought down the costs associated with biosimilar production. In the coming few years, majority of the patent expiries is touted to be in biosimilars, which is deemed as a profitable aspect by leading manufacturers and can translate into substantial market growth.

Eminent Vendors

Top manufacturers of biosimilars in the global industry include Stada Arzneimittel AG (Germany), Teva Pharmaceuticals (Israel), Biocon (India), Pfizer (US), Sandoz International (Germany), Eli Lily & Company (US), Actavis, Inc. (US), Dr. Reddy’s Laboratories (India), Cipla Ltd (India), Amgen, Inc. (US), Samsung Biologics (South Korea), Hospira Inc.(US), Mylan, Inc.(US), Celltrion (South Korea), to mention a few.

Latest Developments

March 2021

European Medicines Agency has given the green light to Kixelle, a biosimilar developed by Biocon Biologics Ltd., touted to be the fourth ever biosimilar insulin and the second fast-acting insulin analogue biosimilar to be introduced in the EU. Kixelle is a fast-acting biosimilar insulin analog that helps treat diabetes mellitus in adolescents, children and adults.

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About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

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Clinical Reference Laboratory Market – Gross Earning and Emerging Growth Opportunity To 2027

 Market Synopsis

The global clinical reference laboratories market is considered to demonstrate 5.8% CAGR during the forecast period (2016-2027) owing to the usage of advanced robotics technology in reference laboratories, asserts Market Research Future (MRFR). Reference laboratories are referred to as commercial as well as private facilities which perform high-volume and specialty testing routinely. Physicians’ clinics, offices, government agencies, hospitals, pharmaceuticals, insurance companies, and biotechnology companies generally outsource the specialty to reference laboratories.

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Drivers and Constraints Impacting the Market

The global clinical reference laboratories market is progressively growing and is estimated to continue its growth in the coming years. With adoption of value-based services gaining prominence, hospitals are outsourcing some part or even all of their radiology and pathology diagnostic services. One of the major reasons for rising outsourcing by the hospitals is the constrained budgets due to Medicare reimbursements. The cut down in the rates of clinical laboratories reimbursements under Medicare has impacted the U.S. lab industry. 

The U.S. clinical labs which depend on Medicare for 20% of their billings and for certain communities it is 80% of the business, got affected. To protect the hospitals, CEOs are outsourcing value-based services. Such factors have augmented the market for these independent reference laboratory services. Moreover, technologies which are capable of performing repetitive activities at high speed has developed to improve the consistency, quality, and effectiveness. The test results on samples which used to consume several hours to process can be found in a few minutes. Automation has impacted histopathology and microbiology to a great extent. Development of molecular technologies and genetics into the mainstream medicine being the most significant innovation, has impacted the health of the population, management of patients, and clinical practice. Moreover, launch of cost-effective, time-saving, and new diagnostic procedures owing to the accelerating number of FDA approvals is considered to contribute to the market growth.

On the flip side, illegible and incorrect sample labelling are some of the major factors considered to slowdown the market growth during the appraisal period.

Global Clinical Reference Laboratories Market: Segmental Analysis

The global clinical reference laboratories market has been segmented on the basis of service providers and application.

By mode of service providers, the global clinical reference laboratories market has been segmented into hospital based, stand alone, and clinical based. Among these, the stand-alone service providers are presumed to dominate the global market. With rising opportunities, presence of a new-range of condition-specific markers, availability of advanced technologies, and tests with advances in proteomics and genomics are some of the key factors likely to drive the segment.

By mode of application, the global clinical reference laboratories market has been segmented into clinical trials, laboratory medicine, and others.

Regional Insights

Geographically, the clinical reference laboratories market spans across regions namely, Europe, America, Asia Pacific, and the Middle East & Africa.

Among all the regions, America is considered to be the largest market for clinical reference laboratories. North America with countries such as Canada, and the United States lead the global market.

The European region occupies the second-largest share of the global market and is anticipated to continue its dominance in the coming years. The growth is credited to the increasing geriatric population, rising private and public funding for clinical laboratory test research, and growing incidences of chronic diseases. On the other hand, Asia Pacific is anticipated to expand at the fastest rate during the assessment period.

Industry Updates

January 18, 2019: One of the leading healthcare bio-analytic solution providers, Invitrocue has recently announced its first laboratory agreement in Germany in order to make its Onco-PDO personalized cancer screening service which will be available to the physicians and patients in Germany.

Competitive Dashboard

The prominent players operating the global clinical reference laboratories market are Quest Diagnostics, Clinical Reference Laboratory, ARUP Laboratories, Sonic HealthCare Limited, Unilabs, Laboratory Corporation of America, Bioreference Laboratories, KingMed Diagnostics, Aurora Diagnostics, Synlab International GmbH, and others.

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About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

Contact:

Market Research Future

Office No. 528, Amanora Chambers

Magarpatta Road, Hadapsar,

Pune – 411028

Maharashtra, India

+1 646 845 9312

Email: sales@marketresearchfuture.com

NOTE : Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.

Veterinary POC Diagnostic Market Focuses on Top Companies, Region and Opportunities

Market Highlights

Key Players

Thermo Fisher Scientific, Inc. (US), Idexx Laboratories, Inc. (US), Zoetis, Inc. (US), Virbac (France), Heska Corporation (US), Eurolyser Diagnostica GmbH (Austria), Woodley Equipment Company Ltd. (UK), Randox Laboratories, Ltd. (UK), AniPoC, Ltd. (UK), Carestream Health, Inc. (US), Neurologica Corporation (US), Fujifilm Sonosite, Inc. (Japan), Diagnostic Imaging Systems, Inc. (US), Esaote spa (Italy), Mindray Medical International Limited (A Part of Excelsior Union Limited) (China), GE Healthcare (US), Minxray, Inc. (US), QR s.r.l. (Italy), Sedecal (Spain), Examion GmbH (Germany)

According to MRFR analysis, the Global Veterinary POC Diagnostic Market is expected to register a CAGR of 8.9% during the forecast period of 2020 to 2027 and reach USD 2,894 Million by 2027.

Changes in veterinary healthcare system like Point-of-Care (POC), it enables rapid results in non-laboratory settings. There is traction in the veterinary point-of-care diagnostics market due to the adoption of advanced and innovative diagnostic testing methods.

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The growth of the global veterinary POC diagnostic market can be attributed to the growing need for rescue medication, demand for POC diagnostic in the field of veterinary as the diseases in animals is increasing and affecting the human being as well.

Furthermore, growing companion animal population, growing prevalence of animal zoonotic diseases, rising demand for pet insurance & growing animal health expenditure, an increasing number of veterinary practitioners, increase in income levels in developed economies are expected to fuel the market growth during the forecast period.

However, the increasing pet care costs and high cost of veterinary imaging instruments are expected to restrain the growth of the global veterinary POC diagnostic market.

Several market players such as IDEXX Laboratories, Heska Corporation, and Fujifilm among others currently dominate the global veterinary POC diagnostic market. The key players are involved in awareness campaigns, product approvals, mergers, and strategic collaborations to strengthen their market positions, for instance, In January 2020, IDEXX launched the Vcheck Feline NT-proBNP test kit, In January 2020, Heska Corporation acquired SCIL Animal Care Company (Germany) to complement the company's veterinary diagnostics portfolio and expand the geographic portfolio across North America and greater Europe and reach over to 25 countries across these regions., In July 2019, Fujifilm Corporation established FUJIFILM VET Systems Co., Ltd in Japan to supply its veterinary products segment to veterinary clinical practices in the country. This expansion would enhance the company's veterinary medicine business in Japan. In January 2018, IDEXX launched the IDEXX Catalyst SDMA Test.

Regional Analysis

The market has been divided, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Americas region held the largest market in 2019, owing to the rising animal zoonotic diseases in the region. The veterinary POC diagnostic market in the Americas has further been branched into North America and Latin America, with the North American market divided into the US and Canada. The European veterinary POC diagnostic market has been categorized as Western Europe and Eastern Europe. The Western European market has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The veterinary POC diagnostic market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. Due to the increasing zoonotic diseases, the market in Asia-Pacific is expected to be the fastest-growing. The veterinary POC diagnostic market in the Middle East & Africa has been divided into the Middle East and Africa.

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Segmentation

Global Veterinary POC Diagnostic Market has been segmented based on the Product, Technology, Application, Animal Type, and End User.

Based on the type, the global veterinary POC diagnostic market has been segmented into Consumable, Instruments. The consumable segment is expected to hold the largest market share owing to the increasing demand for the rapid detection of diseases, the growing prevalence of animal zoonotic diseases.

On the basis of technology, the market has been segmented into Clinical Biochemistry, Immunodiagnostics, Hematology, Urinalysis, and Molecular Diagnostics. Clinical Biochemistry is expected to hold a major market share due to the higher preference for various advanced clinical diagnostic products by veterinarians and pet owners are contributing to the large share of this segment.

Based on the application, the market has been segmented into Clinical Pathology, Bacteriology, Virology, Parasitology, Orthopedics & traumatology, Gynecology, Oncology, Cardiology, and Neurology. Clinical pathology is expected to grow at the fastest CAGR.
The market based on end user has been segmented into hospitals & clinics, home care, and others. The hospitals and clinics segment is expected to hold the largest market share owing to the larger patient footfall in hospitals.

Based on the animal type, the market has been segmented into Companion animals, Livestock Animals. Clinical pathology is expected to grow at the fastest CAGR.

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