The growing use of diagnostic imaging equipment and systems meant for human medicine for veterinary applications has significantly boosted the market for veterinary MRI systems, notes Transparency Market Research in a report. The report, titled “Veterinary MRI Systems Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016–2023”, states that ongoing advancements in veterinary medicine will continue to drive this emerging market.
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The publication is comprehensive database of key insights on the global market for veterinary MRI systems and brings to the fore the various driving and restraining factors impacting this market. With the help of the latest industry tools, analysts have zeroed in on the leading regional markets, highlighting their individual performance over the years.
From a geographical point of view, the veterinary MRI systems market comprises Europe, North America, Asia Pacific, Latin America, and the Middle East and Africa. Europe and North America account for the leading share in the global market in terms of revenue as well as adoption rate. Growing awareness about various diseases afflicting domesticated as well as wild animals and a high number of veterinary practitioners in the regions are the key factors responsible for the growth of the veterinary MRI systems market in Europe and North America. Companion animals offer lucrative options for companies in the veterinary pharmaceutical sector. Increasing expenditure on the health and well-being of these animals often translates into the demand for advanced imaging systems such as MRIs.
On the other hand, the market for veterinary MRI systems in Latin America and Asia Pacific is likely to gain traction over the course of the forecast period. Countries such as Brazil, India, and China offer players immense scope for growth as the demand for livestock soars. The increasing consumption of dairy products and meat and the rising adoption of pets have resulted in rising awareness about animal health, thereby driving the need for veterinary diagnostics. This, in turn, boosts the adoption of veterinary MRI systems in APAC and LATAM.
The report includes a dedicated section on the vendor landscape. A SWOT analysis of dominant players in the veterinary MRI systems market sheds light on their strengths and weaknesses, while identifying the opportunities and threats that lie ahead. The Porter’s Five Forces analysis model offers readers a glimpse of the bargaining power of suppliers and buyers, the threat of new entrants and substitutes, and the degree of competition in the veterinary MRI systems market.
Some of the notable companies operating in the global market for veterinary MRI systems are Burgess Diagnostics Ltd., Mediso Medical Imaging Systems., MR Solutions, Agilent Technologies, Hallmarq Veterinary Imaging, Bruker Corporation, Universal Medical Systems, Inc., Esaote SpA, and Imotek International Ltd. Aspects such as company profile, recent developments, product portfolio, and business strategies have been taken into consideration while profiling these players.
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