Tuesday, 10 December 2019

Cardiac Monitoring and Cardiac Rhythm Management Device Market Growth and Restrain Factors Analysis By 2023

Cardiac Monitoring and Cardiac Rhythm Management Device Market 2019 Development Status, Sales Revenue, Competitive Landscape, Opportunity Assessment and Potential of the Industry by 2023
Market Scenario
Advanced technologies in cardiac monitoring and cardiac rhythm management devices have also to growth in the market. The global cardiac monitoring and cardiac rhythm management device market is segmented into types of cardiac devices, types of cardiac monitoring devices, types of cardiac rhythm management devices, and end-users. Further, the types of cardiac devices are segmented into pacemaker, biventricular pacemaker, implantable cardioverter defibrillator, and implantable cardiac loop recorder. Based on the types of cardiac monitoring devices the market is further segmented into electrocardiogram (ECG), Holter monitor, event monitor, implantable loop recorder, and cardiac output monitoring devices. Electrocardiogram (ECG) is further sub-segmented into telelectro-cardiogram, wireless ECG, and lead ECG test. Based on types of cardiac rhythm management devices, the market is segmented into defibrillators, pacemakers, and cardiac resynchronization therapy devices. Defibrillations are further sub-segmented into implantable defibrillators and external defibrillators. Based on end-user the market is segmented into hospitals, ambulatory surgical centers, and others.
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Global cardiac monitoring and cardiac rhythm management device market is expected to grow during the forecast period (2018 to 2023) at a CAGR ~4%.
Rising prevalence of cardiovascular diseases and the increasing number of unmet medical needs in undeveloped countries are leading to the growth of the cardiac monitoring and cardiac rhythm management device market. Technical advancements in drug-eluting, MRI compatible pacemakers, and Holter monitors are some of the factors leading to the growth of this market. The growth of the global cardiac monitoring device market is driven by the high prevalence of cardiovascular disorders worldwide. The increasing demand for minimally invasive surgeries drives the growth of this market. However, factors such as stringent regulatory approval procedures, the high cost of cardiac devices, and lack of reimbursement policies in developing countries are hindering the growth of the market.
However, the high cost of these devices in developing nations, preference of drugs over devices in the cardiac treatment, and limited insurance coverage options are some of the factors which are hampering the growth of the market.
Key Players
Some of the key players in the global cardiac monitoring and cardiac rhythm management device market are Abiomed, Berlin Hearth, Brotionik SE and Co. KG, Boston Scientific Corporation, Cardiac Science Corporation, General Electric(GE), Hill Rom Services Inc, Jarvik Hearth. Inc, Koninklijke Philips N.V, LivaNova plc, Medtronic plc, Nihon Kohden Corporation, ReliantHeart Inc, Schiller, and Abbott.
Regional Market Summary
The market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East and Africa. The cardiac monitoring and cardiac rhythm management device market in the Americas has been further segmented into North America and South America, with the North American market divided into the US and Canada. The European cardiac monitoring and cardiac rhythm management device market has been segmented into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The cardiac monitoring and cardiac rhythm management device market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The cardiac monitoring device market in the Middle East and Africa has been segmented into the Middle East and Africa.
The European market is expected to be the second-largest cardiac monitoring device market. The market growth in this region can be attributed to government funding and support of the healthcare sector coupled with increasing research and development. Moreover, a growing number of surgeries due to the changing lifestyle is contributing to the growth of the market in this region. Asia-Pacific is expected to be the fastest-growing cardiac monitoring device market during the forecast period owing to the increasing prevalence of cardiac diseases, rising investments in healthcare, increasing geriatric population, and expansions by market players in the region. Asia-Pacific is giving strong competition in the global cardiac monitoring device market by producing cost-effective products that are high in demand in local as well as global markets. The market in the Middle East and Africa is expected to account for the smallest share in the global cardiac monitoring device market due to the underdeveloped healthcare sector, lack of technical knowledge, and poor medical facilities.
In terms of market value, North America will dominate the global cardiac monitoring and cardiac rhythm management device market during the forecast period. The increasing investment by North America in cardiac devices over the last few years has led to the growth of the market in this region. Increasing number of cardiac patients, better healthcare infrastructure, and advanced technology in cardiac monitoring equipment have boosted the cardiac monitoring and cardiac rhythm management device market in North America.
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Table Of Content
1. Report Prologue
2. Market Introduction
2.1 Definition
2.2 Scope Of The Study
2.2.1 Research Objective
2.2.2 Assumptions
2.2.3 Limitations
3. Research Methodology
3.1 Introduction
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
4. Market Dynamics
4.1 Drivers
4.2 Restrains
4.3 Opportunities
4.4 Challenges
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
5. Market Factor Analysis
5.1 Porters Five Forces Analysis
5.1.1 Bargaining Power Of Suppliers
5.1.2 Bargaining Power Of Buyers
5.1.3 Threat Of New Entrants
5.1.4 Threat Of Substitutes
5.1.5 Intensity Of Rivalry
…TOC Continued!
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Cardiac Valve Market to show steady growth, 2019

Cardiac valve or heart valve allows blood to flow in only one direction through the heart. Human heart consists of four valves. These valves open and closes compulsory on differential blood pressure on each side.
Furthermore, valve replacement remains the most widely used technique but the proportion of valve repair procedures is increasing in experienced treatment centres. Moreover, increasing development in medical technology and its wide range of application used in the treatment of various cardiac diseases will fuel the growth of the market. However, high cost of the treatment likely to restrain the growth of the market over the assessment period. The global cardiac valve market is expected to grow at a CAGR of 11.5% during the forecast period.
Key players
Medtronic (U.S.), Edwards Lifesciences Corporation (U.S.), Boston Scientific Corporation (U.S.), St. Jude Medical, Inc. (an Abbott Laboratories Company) (U.S.), LivaNova PLC (U.K), Symetis SA (Switzerland), Jenavalve Technology, Inc. (Germany), CryoLife, Inc. (U.S.), TTK HealthCare (India), Colibri Heart Valve, LLC (U.S.), Lepu Medical Technology Co., Ltd. (China), and Braile Biomédica (Brazil) are some of the prominent players at the forefront of competition in the Global Cardiac Valve Market and are profiled in MRFR Analysis. 
Segmentation
The global cardiac valve market is segmented on the basis of types, by diseases, by treatment, and by end users.
On the basis of treatments, it is segmented into valve replacement, valve repair, and others.

On the basis of types, the market is segmented into trans-catheter heart valve, tissue heart valve, mechanical heart valve, and others.
On the basis of disease, the market is segmented into aortic valve replacement, heart valve disease, mitral valve stenosis, and others.
On the basis of end users the market is segmented into cardiac research institute, hospital & clinics, and others.
Regional analysis
The Americas mainly include North America and South America of which North America dominates the market owing to the presence of huge number of patient with cardiac diseases, increasing geriatric population, and increasing healthcare expenditure.  
In Asia Pacific, increasing government support for research & development in healthcare domain, growing number of cardiovascular diseases drive the growth of the market in this region.
Europe is the second highest revenue generating region in the cardiac valve market. Europe is mainly consist of Eastern Europe and Western Europe. More developed countries of Western Europe such as Germany, France, and the UK are holding the major market share, whereas the East European countries are also growing at a significant rate. Moreover, owing to developing healthcare infrastructure and increasing healthcare expenditure will boost the market growth in this region.
The Middle East & Africa is expected to show a least market share due to less availability of medical facilities, and less development in healthcare domain
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Ophthalmic Suspension Market to show steady growth, 2019

Market Scenario
The global ophthalmic suspension market is expected to exhibit a strong 6.8% CAGR over the forecast period from 2017 to 2023, according to the latest research report from Market Research Future (MRFR). The report profiles the leading players in the global ophthalmic suspension market to provide readers with a clear picture of the major drivers and restraints affecting the market growth over the forecast period. The global ophthalmic suspension market is also analyzed with respect to its segmentation in order to pinpoint the leading segments likely to drive the market’s progress over the coming years.
The suspension in the form of used to treat eye infections and related symptoms are generally termed as ophthalmic suspension. Generally it used in a combination of two such as antibiotics and a corticosteroid for more effective treatment. Various bacterial eye infections such as conjunctivitis are treated by ophthalmic suspension.   
Increasing prevalence of eye diseases across the globe is one of the major factors contributing to the growth of this market. Moreover, increasing geriatric population which are most prone to eye disorders, and growing number of bacterial infections cases in children will also boost the growth of the market. Furthermore, according to WHO (2014), glaucoma is the second major cause of blindness in the world which will increase the market growth.
On the other hand, the side-effects of ophthalmic suspension may hamper the market growth during the corresponding period.
Key Players 
  • Novartis AG (Alcon)
  • ALLERGAN
  • Pfizer Inc.
  • Merck & Co., Inc.
  • Bausch & Lomb Incorporated
  • Falcon Group
  • Valeant
  • Bayer AG
  • Genentech, Inc.   
Segmentation
The global ophthalmic suspension market is segmented on the basis of type of content, which is segmented into antibiotic, antifungal, antibacterial, steroids, NSAIDs (non-steroidal anti-inflammatory drugs) and others.
On the basis of applications, it is segmented into bacterial infections, retinal disorders, glaucoma, allergies, diabetic eye disease, and others. Bacterial infection is further conjunctivitis, scleritis, and others. Retinal disorder is further segmented into macular degeneration, branch retinal vein occlusion, central retinal vein occlusion, congenital x-linked retinoschisis, and others.   
On the basis of end user, the market is segmented into hospitals, eye clinics, pharmacies, and others.
Regional Analysis
The American region accounted for the largest share of the global ophthalmic suspension market due to increasing prevalence of eye related diseases and increasing demand for new ophthalmic suspension for its treatment. Moreover, increasing geriatric population is another major factor responsible for the market growth in American countries.
In Asia Pacific, increasing government support for research & development in healthcare domain, growing number of ophthalmic clinics, and increasing prevalence of eye related diseases drives the growth of the market in this region.
Europe is the second largest ophthalmic suspension market across the globe owing to increasing awareness regarding eye related diseases, growing technological advancements in healthcare domain and increasing investment in healthcare domain by government.
The Middle East & Africa is expected to show a least market share due to less availability of medical facilities, and less development in healthcare domain.
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Drug Allergy Market - Granular Market Report and Review, 2019

Market Research Future (MRFR) has announced a new release on the global Drug Allergy Market. The report takes into account the Global Drug Allergy Market’s historical growth trajectory and major growth drivers and restraints in order to come up with a reliable projection for the market’s likely growth trajectory over the forecast period from 2018 to 2023.
Increasing awareness about various allergies, the introduction of the new treatment of products and rising demand from emerging markets drives the growth of the global market. Drug allergy is one of the most common types of allergies. It is the hyper sensitivity of the immune system to drug or medication. Any types of drugs such as prescription, nonprescription or herbal can induce drug allergy. Some common symptoms of the drug allergies are hives, skin rash, itching of the eyes or skin, swelling of the face, lips, or tongue, wheezing, and others. Treatment can relieve and prevent severe reactions.
New research to prevent drug allergies is another key driver for the market. The global drug allergy market is growing moderately and is expected to continue its growth over the forecast period.
Reaction to drugs and other medication can differ from patient to patient, with drug allergies becoming increasingly common. Market Research Future (MRFR) in its latest report has discovered that the market is due to witness a CAGR of 5.1% during the forecast period of 2017 to 2023. MRFR has further ascertained that the market is expected to grow to reach an estimated value of USD 4,764 Mn by the end of 2023
Top Key Players
AstraZeneca (UK), Bayer (US), Circassia (US), HAL Allergy Group (the Netherlands), Johnson & Johnson Services, Inc. (US), MAGNA Pharmaceuticals, Inc. (US), Stallergenes Greer (UK), and others.
Segments                   
The global drug allergy market is segmented on the basis of type, which comprises of immunologic, nonimmunologic, and others. Immunologic allergy is sub-segmented into type I reaction, type II reaction, type III reaction, type IV reaction, and others. The non-immunologic allergy is sub-segmented into predictable, unpredictable, and others. The predictable allergy is further segmented into pharmacologic side effect, secondary pharmacologic side effect, drug toxicity, drug-drug interactions, drug overdose, and others. The unpredictable segment is further sub-segmented into pseudoallergic, idiosyncratic, intolerance, and others.
On the basis of diagnosis, the market is segmented into skin tests, blood tests, patch test, and others. The skin test is further segmented into prick or scratch test, intradermal test, and others.
On the basis of treatments, the market is segmented into antihistamines, corticosteroids, treatment of anaphylaxis, withdrawal of the drug, and others. Antihistamines are further sub-segmented into azelastine eyedrops, azelastine nasal sprays, carbinoxamine, cyproheptadine, desloratadine, diphenhydramine, emedastine eyedrops, hydroxyzine, levocabastine eyedrops, levocabastine oral, and others. Corticosteroids is further sub-segmented into topical steroids, inhaled steroids, and others. Inhaled steroids is further segmented into flunisolide, fluticasone furoate, fluticasone propionate, triamcinolone acetonide, beclomethasone dipropionate, budesonide, and others.
On the basis of end user, it is segmented into hospitals & clinics, medical research centers, academic institutes, and others.
Regional Analysis
The Americas dominate the global market for the drug allergy. The Americas mainly include North America and Latin America, out of which North America accounts for the majority of the market share of this region. The US is the top revenue generating market in North America and is one of the important markets for the global drug allergy treatment. Approximately 10% of the total US population have drug allergies. Latin America drug allergy market is also growing significantly and mainly includes Brazil, Argentina, and Chile. Europe is the second largest market in the globe owing to increasing cases of drug allergy.
Europe is mainly divided into Eastern Europe and Western Europe. More developed Western European countries like Germany, UK and France are dominating this market while East European region is also growing significantly. Increasing cases of drug allergies are one of the major factors for the growth of the Europe market.
Asia Pacific region is showing the fastest growth rate in the global drug allergy market due to some major factors such as increasing awareness about various drug allergies, availability of treatment products, and rapidly improving healthcare facilities. Japan is holding the major market share while China’s drug allergy market is expected to show the fastest growth in this region. Changing healthcare practices and increasing patient involvement play an important role in the growth of this market.
The Middle East & Africa is expected to experience a limited growth due to lack of awareness about diseases, traditional healthcare practices, etc. The Middle East region dominates the market due to some of the major factors, for instance, developed healthcare facilities and government support to improve public health.
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Tendinitis Treatment Market Volume Forecast and Value Chain Analysis 2019

An expert on premium research reports, Market Research Future predicts that Global tendinitis treatment market is expected to grow at the CAGR of ~3.8% during the forecast period and is estimated to reach USD 426.4 million by 2023. According to a recent study report published by the Market Research Future, the global tendinitis treatment market is expected to gain eminence over the forecast period. The market is forecasted to demonstrate a steady growth by 2023, surpassing USD 426.4 million with a constant CAGR during the anticipated period (2017 – 2023).
Tendinitis is the inflammation of the tendon, thick cords that attach the muscles to the bone. The inflammation occurs as a result of sudden injury to the tendon, repetitive movement or disease condition such as diabetes, rheumatoid arthritis, gout, Reiter's syndrome or lupus. In case of patients with gout, the uric acid crystals appear in the tendon sheath leading to friction. Tendinitis is found to be prevalent among athletes and is one of the common sport injuries in sport players, especially tennis, golf and others. Various pharmacological and non-pharmacological treatments are available for the treatment of tendinitis. Non-steroidal anti-inflammatory drugs (NSAIDs) constitute the preliminary treatment options. Other treatments including physical therapy, rest, and occupational therapy. Surgery is the last resort for tendinitis, and is only recommended in case of severe damage to the tendon that cannot be treated using pharmacological treatment options.
Key players for Global Tendinitis Treatment Market:                                   
  • Almatica Pharma, Inc. (US),
  • AstraZeneca (US),
  • Bayer (Germany),
  • Boehringer Ingelheim Pharmaceuticals, Inc. (US),
  • Merck & Co., Inc (US),
  • Pfizer (US).
Intended Audience:
  • Tendinitis medicines manufacturers
  • Tendinitis medicines and treatment providers
  • Medical Research laboratories
  • Research and Development (R&D) Companies
  • Market Research and Consulting Service Providers
  • Potential Investors
Segments:
Global tendinitis treatment market has been segmented on the basis of condition which comprises of tennis elbow, golfer's elbow, pitcher's shoulder, swimmer's shoulder, jumper's knee, and others.
On the basis of treatments, the market has been segmented into medications, therapy, surgical repair, and others. Medication sub-segmented into pain relievers, corticosteroids, Platelet-Rich Plasma (PRP), and others. Therapy is further sub-segmented into hot and cold therapy, physical therapy, occupational therapy, and others.
On the basis of diagnosis, the market is segmented into physical exam, imaging tests, and others. Imaging test is sub-segmented into ultrasound, Magnetic Resonance Imaging (MRI) scans, and others.
On the basis of end user, it is segmented into hospitals & clinics, medical research centers, academic institutes, and others.
Regional analysis
Considering the global scenario of the market, America is the top contributor in this market. The Americas mainly includes North America and South America. Due to developed healthcare infrastructure and increasing R&D funding, US is dominating country in this region. Europe is second largest market for tendinitis treatment. Due to innovative product development and rapid adoption of new treatments, Germany is dominating this market. Asia Pacific is witnessing rapid growth in this market which is mainly due to rapidly changing healthcare sector, increasing awareness, and rising healthcare expenditure. Middle East and Africa is expected to have limited growth while Middle Eastern countries are expected to dominate this market during the forecast period.
Competitive Analysis
The market for tendinitis treatment is characterised by the presence of several well-established and small players, the global market of tendinitis treatment appears to be highly competitive and fragmented. Major players are increasingly expanding their footprint in the emerging nations, making it putting pressure on the regional players, especially in terms of features such as type, product portfolios, and pricing. The market is witnessing intensified competition which is expected to get more intensified further during the forecast period. The tendinitis treatment market appears to be highly competitive owing to the presence of several large and small key players accounting for a substantial market share. Many leading players are concentrated in the Americas owing to well-established market and high healthcare expenditures; these players have expanded their market in other region as well. Furthermore, the companies such as Abbott, AstraZeneca, Teva, and Pfizer are well-established in European market. The major four players namely Abbott, AstraZeneca, Teva, and Pfizer accounted for more than 17% share of the Americas and Europe tendinitis market.
In April 2017, Pfizer entered into a merger with Allergan to gain access for Allergan's portfolio including Botox, Viagra, the Prevnar pneumonia vaccine, and treatments for ailments including Alzheimer’s and rheumatoid arthritis.
Furthermore, in July 2017, Merck & Co.Inc & AstraZeneca entered into strategic oncology collaboration to co-develop and co-commercialize AstraZeneca’s LYNPARZA (olaparib) for multiple cancer types.   
Furthermore, in November 2016, AstraZeneca announced a licensing agreement between MedImmune, its global biologics research and development arm, and Allergan plc., for the global rights to MEDI2070.
Moreover, May 2014, the company acquired Merck & Co., Inc.’s non-prescription business to become the OTC leader in North America and Latin America & achieve top global positions in key OTC product categories.
Therefore, the growing key business strategies will help the key competitors to expand their presence in various parts of the globe for their competitive products and will has spurred the growth of the market.  
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Mitochondrial Myopathies Market 2019 Analysis, Opportunities and Forecast to 2023

Market scenario:
The growing number of m mitochondrial myopathy invalids is likely to spur the global mitochondrial myopathies market growth over the forecast period. The major issue with mitochondrial myopathies is that, it is a genetic disorder and till today, has no proper cure. This, is observed to generate boundless scope for research. The strong support of governments, across the world, is encouraging researchers for undertaking numerous research and developmental projects to develop effective treatment for mitochondrial myopathies. Hence, this factor can cast a positive influence on the mitochondrial myopathies market growth. The availability of certain diagnostic aids for the mitochondrial myopathies and their precise results are also expected to amplify the market growth. The presence of reimbursement and medical insurance policies for rare genetic diseases like mitochondrial myopathies can rise the profit margins of the mitochondrial myopathies market.
However, the unavailability of specific treatment regime for mitochondrial myopathies and lack of cognisance of the availability of enhanced diagnostic solutions for detecting mitochondrial myopathies are certain factors, which can interfere the mitochondrial myopathies market expansion.
The Mitochondrial Myopathies is expected to reach $ 600 million by the end of 2023, this market is projected to growing at a CAGR of ~ 3.2 % during 2017-2023.
Top-Notch Key Players                                         
MRFR profiled eminent companies which are operating in the global mitochondrial myopathies market. They are; Khondrion BV, Reata Pharmaceuticals, Inc., GeneDx, Stealth BioTherapeutics, NeuroVive Pharmaceutical AB, Centogene AG, and Raptor Pharmaceutical Corp.
Segments:
Type, diagnostic tests, and therapies are segments, under which the global mitochondrial myopathies market has been studies.
Based on the type, the mitochondrial myopathies market has been segmented into Mitochondrial encephalomyopathy, Kearns-Sayre syndrome (KSS), Pearson syndrome, Mitochondrial DNA depletion syndrome (MDS), Leigh syndrome, Myoclonus epilepsy with ragged red fibers (MERRF), Progressive external ophthalmoplegia (PEO), Mitochondrial neuro-gastrointestinal encephalomyopathy (MNGIE), and Neuropathy, ataxia and retinitis pigmentosa (NARP).
Based on therapies, the mitochondrial myopathies market has been segmented into vitamins, coenzymes and antioxidants, supportive, dietary, and other.
Based on diagnostic aids, the mitochondrial myopathies market has been segmented into genetic test, muscle biopsy, and blood enzyme test.
Regional analysis
Based on the region, the global mitochondrial myopathies market has been studied across North America, Asia Pacific, Europe, the Middle East Asia and Africa.
The US in North America, is to hold the largest share of the regional market, while, North America dominates the global mitochondrial myopathies market. The strong economy empowering North America is likely to bolster the market growth over the assessment period. Furthermore, the increasing number of screening tests is also expected to escalate the US market growth. To illustrate, in the U.S., the new-born screening is performed on a infant, despite, its parent’s health insurance status or ability to bear medical expenses or charged minimum for the testing. The expansion of mitochondrial myopathies patient pool and surge in the government support for research and development undertakings are other factors, which can drive up the American mitochondrial myopathies market. Continuous technical upgradation backing medical advancements are identified to spur the South American mitochondrial myopathies market. The existence of private health insurance plans like Medicaid and the Children's Health Insurance Program (CHIP) and likely to cast a positive impact on the regional mitochondrial myopathies market expansion.
The Asia Pacific region is to exhibit a fast-paced growth for the mitochondrial myopathies market. Emerging economies like India and China are likely to witness a considerable market growth due to the rising need to meet the existing medical backlogs.  However, owing to political loopholes and fragile economic condition in the Africa, the market can experience a stagnancy in the growth over the review period. But, the mitochondrial myopathies market is expected to be led by the Gulf nations, particularly Saudi Arabia and UAE.
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Veterinary Imaging Market Growth and Restrain Factors Analysis By 2023

Market Scenario
The Global Veterinary Imaging Market is expected to register a CAGR of 7.14% to reach USD 2167.78 million by 2025. Veterinary imaging is the noninvasive method that helps to diagnose disease by making medical images of the veterinary body. We have various advanced imaging technology used for veterinary patients. Veterinary imaging instruments are used to diagnosis of chronic disease and getting medical images of animals. Notably, the increasing prevalence of zoonotic diseases, significant rise in pet insurance purchases, and increased number of veterinary practitioners are promoting the growth of the veterinary imaging market globally.
The market growth is mainly driven by increasing incidence of zoonotic diseases, increasing expenditure on pet insurance, and technological advancements in veterinary imaging. However, high procedure cost and lack of skilled veterinarians may slow the growth of the market.
 Market Dynamics
Increasing expenditure on the pet is driving the growth of the market. Pet insurance covers various minor to major medical expenses such as accidents, chronic conditions, wellness, and routine care coverage, medication coverage, diagnostic testing and imaging, others. Though pet insurance does not provide 100% coverage, it reimburses around 80% of the total pet medical expenses. According to the North American Pet Health Insurance Association (NAPHIA), North America’s pet health insurance growth was exceeded by 17.2% from 2014 to 2015. It is also reported that the total number of insured pets reached 1.6 million at the end of 2015.
Pet owners spend a lot on routine vet expenses and surgical vet visits. As per the data suggested by The American Pet Products Association (APPA), around 65% of the US population owns a pet, and the US pet industry expenditure in 2015 was USD 60.3 million, which is exceeded to USD 62.8 million. Thus, with the growing spending on animal healthcare, the demand for veterinary diagnosis and the equipment required for the same will also increase, which boosts the growth of global veterinary imaging market.
Segmentation
The global veterinary imaging market is segmented into product type, animal type, therapeutic area, and end user. On the basis of product type, the market is segmented into instruments, veterinary imaging reagents, and veterinary software. On the basis of animal type, it is segmented into small companion animals and large animals. On the basis of the therapeutic area, the veterinary imaging market segmented into orthopedics and traumatology, cardiology, neurology, and oncology. On the basis of end user, the Veterinary Imaging market segmented into hospitals & clinics, and academic institutes.
Regional Analysis
The global veterinary imaging market, based on region, is divided into the Americas, Europe, Asia-Pacific, and the Middle East and Africa. The Americas accounted for the largest market share in 2018, and the regional market is projected to register a CAGR of 7.62% during the forecast period. The larger share is majorly attributed to the growth in adoption of pet animals, increasing veterinary healthcare expenditure, increasing demand for pet insurance, and increasing pet ownership. According to the report published by the American Pet Products Association, from 2017 to 2018, 68% of the US households or 85 million families have a pet.
Europe is the second-largest market for veterinary imaging owing to the presence of large market players, innovative advanced technology, increasing companion animal ownership, and the presence of veterinaries.
The Asia Pacific region accounted the third-largest market owing to the presence of large animal population, increasing disposal income, increasing nuclear families preferring to have pets and increased investments by the American and European market giants in Asian countries such as China and India. India held a share of 15.9% in the Asia-Pacific veterinary imaging market in 2018.
The market in the Middle East and Africa is constrained due to poor development of the animal industry and the low productivity of the maximum breeds in the region.
Key Players
The prominent players in the global veterinary imaging market are Esaote SpA (Italy), GE Healthcare (US), Medical Imaging/IMCO, Inc. (US), BCF (Scotland), Fujifilm Holding Corporation (Japan), Heska Corporation (US), Diagnostic Imaging System, Inc. (US), Canon Inc. (Tokyo), Carestream Health (US), and Merry X-Ray (US).
The players operating in the global veterinary imaging market are focusing on product launches, along with expanding their global footprints by entering untapped markets.
  • In March 2019, Esaote SpA launched the new ultrasound platform MyLabX8 for increasing efficiency of ultrasound machines and to maintain the workflow.
  • In October 2018, GE Healthcare announced a strategic collaboration with SonoSim to encourage education and training about ultrasound devices. This collaboration is likely to help the company to increase its customer base.
  • In June 2018, Fujifilm Holding Corporation acquired Irvine Scientific Sales Company, Inc. for USD 800 million. With this acquisition, Fujifilm is likely to enter into the cell culture media business.
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