A veterinary CT scanner is used to obtain high-resolution three-dimensional anatomical diagnostic images of animals. It allows for expedient and dynamic care of animals. Veterinary CT scanners are more convenient and beneficial in comparison to conventional imaging devices such as ultrasound systems and x- rays as they provide comprehensive data for better diagnosis and treatment while reducing the need for investigative surgeries. A standard veterinary clinic that treats small animals has 1 to 4 slice CT scanners, whereas a well-established veterinary clinic would have a 16 slice veterinary CT scanners to assist trauma cases with increased diagnosis accuracy.
Quick rise in pet population, rise in incidences of diseases among animals, increase in demand for minimally invasive procedures, and rise in demand for advanced and efficient veterinary CT scanners for accurate diagnosis are anticipated to drive the global veterinary CT scanner market during the forecast period. In September 2017, Asto CT, LLC announced the completion of the first CT scan of a standing horse using the Equina platform.
The major restraints of the veterinary CT scanner market during the forecast period are limited number of veterinarians, high cost associated with equipment procurement, and low awareness levels for pet diseases in lower economic countries.
The veterinary CT scanner market can be segmented based on animal, product, end-user, and region. In terms of animal, the veterinary CT scanner market can be divided into companion animal, livestock, equine, and others. Based on product, the veterinary CT scanner market can be classified into stationary and portable CT scanners.
In terms of end-user, the veterinary CT scanner market can be categorized into veterinary hospitals, clinics, and academic and research institutes. According to a North American Pet Health Insurance Association (NAPHIA) report, pet insurance posted a record growth for the year 2017 hitting US$ 1.2 Bn, an increase of 23% in comparison to 2016. The total pet population in the U.S. and Canada reached approximately 2.1 million in 2017, which was nearly 17 % more than 2016.
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In terms of region, the veterinary CT scanner market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The veterinary CT scanner market in North America is anticipated to hold a major veterinary CT scanner market share during the forecast period, closely followed by the market in Europea. The dominance of the two regions is attributed due to higher awareness levels regarding animal health, better veterinary health care infrastructure, and increasing technological and product development.
According to the National Pet Owners Survey conducted by the American Pet Products Associations (APPA), nearly 68% of U.S. families own a pet. In Europe, according to the European Pet Food Industry, approximately 900,000 jobs are generated by increasing pet ownership and nearly 80 million households own a pet. An important development in the veterinary CT scanner market was the launch of a 24-hour veterinary hospital in Conshohocken, Pennsylvania by the Veterinary Specialty and Emergency Center in July 2017.
The veterinary CT scanner market in Asia Pacific is anticipated to provide lucrative opportunities owing to increase in awareness in developing economies such as India, increase in animal welfare activities for treatment and diagnosis of diseases in animals by the government, and increasing competition among regional and local manufactures. The veterinary CT scanner market in Latin America and Middle East & Africa is anticipated to expand due to increase in demand for pet insurance, rise in animal health care expenditure, and increase in number of veterinary health care facilities.
The major market players in global veterinary CT scanner market are GE Healthcare, Siemens, Canon Inc., Epica Medical Innovation, Koninklijke Philips N.V., Animage LLC., Asto CT LLC, EQUINE 4DDI, Hitachi, Ltd., and other prominent players.