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(Medical-NewsWire.com, October 07, 2018 )
According to the new market research “ Veterinary CT Scanner Market by Type (Multi Slice CT Scanner, Portable CT Scanner), Animal (Small Animals, Equine, Livestock), Application (Neurology, Oncology, Orthopedic, Traumatology), End User (Animal Hospital, Clinic) - Global Forecast to 2022”, analyzes and studies the major market drivers, restraints, opportunities, and challenges in North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
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The key factors driving the growth of this market include the increasing small companion animal population, growing pet adoption, rising demand for pet insurance with growing animal health expenditure, growing number of veterinary practitioners and their income levels in developed economies, and innovation in veterinary CT scanners. However, the high cost of CT scanners may hinder the growth of this market to a certain extent. The steady growth in companion animal ownership in the emerging markets such as China, India, Brazil, and other Asia Pacific and Latin American countries serves as a significant growth opportunity for market players in the veterinary CT scanner market.
By type, the stationary multi-slice CT scanners segment accounted for the largest share of the market in 2016
On the basis of type, the veterinary CT scanner market is broadly segmented into stationary multi- slice CT scanners and portable CT scanners. In 2016, the stationary multi-slice CT scanners segment accounted for the largest share of this market. This large share can be attributed to the higher adoption of multi-slice CT scanners, such as mid-end CT scanners and high-end CT scanners. Due to their lower prices (as compared to the high-end CT scanners), enhanced image quality and spatial imaging, increased scan speed, higher resolution, greater accuracy on on-the-spot diagnosis, and easy handling mid-end CT scanners are increasingly preferred over other CT scanners. The portable CT scanners segment is expected to grow at the highest CAGR during the forecast period.
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By application, the neurology segment held the largest market share in 2016
Based on application, the market is segmented into neurology, oncology, orthopedics & traumatology, and other applications. The neurology segment accounted for the largest share and is expected to grow at the highest CAGR during the forecast period. The large share of this segment can mainly be attributed to the increasing prevalence of common brain disorders affecting the nervous system of animals, such as epilepsy, brain cancer/tumors, ischemic infarcts (stroke), encephalitis, hydrocephalus, and traumatic brain injuries.
North America dominated the market in 2016
North America accounted for the largest share of the veterinary CT scanner market in 2016, followed by Europe and Asia Pacific. The largest share of this region is mainly attributed to the increasing adoption of pet animals, the growing pet insurance industry, and rising veterinary healthcare expenditure in the region.
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GE Healthcare (US), Canon, Inc. (Toshiba Medical Systems Corporation) (Japan), Siemens AG (Siemens Healthineers) (Germany), Samsung Electronics Co. Ltd. (NeuroLogica Corporation) (South Korea) are among a few major players in the Veterinary CT Scanner Market.
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