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(Health-NewsWire.Net, December 18, 2019 ) 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.
Market Size
The global Veterinary CT Scanner market size is projected to reach USD 173.7 Million by 2022 from an estimated USD 122.3 Million in 2017, at a CAGR of 7.3%.
GE Healthcare (US), Canon, Inc. (Toshiba Medical Systems Corporation) (Japan), Siemens AG (Siemens Healthineers) (Germany), Samsung Electronics Co. Ltd. (NeuroLogica Corporation) (South Korea), Epica Medical Innovation (US), Hitachi, Ltd. (Japan), Koninklijke Philips N.V. (Netherlands), Animage, LLC (US), GIN ApS (Denmark), QR s.r.l. (Italy), and 4DDI (US) are some key players in this market. These companies are focusing on increasing their presence in the high-growth markets through both organic as well as inorganic growth strategies such as product launches, acquisitions, and expansions.
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“GE Healthcare dominated the global veterinary CT scanner market in 2016”
Through its Healthcare Systems segment, the company offers CT scanners and other diagnostic imaging modalities for human and veterinary practices. The company has a strong CT scanners product portfolio and derives the majority of its revenue from operations in the North American market. For instance, in 2016, GE Healthcare and Tata Trusts (India) partnered to train 10,000 youths in various technical areas of healthcare over a three-year period. The GE Healthcare Education Institute (GE HCI) will design, develop, and execute the courses in India.
“Canon, Inc. (Toshiba Medical Systems Corporation) held the second position in the global veterinary CT scanner market in 2016”
To maintain its position in the market and to cater more market share, the company is highly focused on product launches and product enhancements. For instance, Toshiba Medical Systems Corporation launched the Aquilion ONE/GENESIS Edition and Aquilion Lightning (a 16-row helical CT scanner) in 2016 and 2015, respectively. In 2016, the South Devon Veterinary Hospital installed the Toshiba Aquilion Lightning to diagnose a wide range of conditions in pet animals.
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