VETERINARY IMAGING MARKET ANALYSIS
Veterinary Imaging Market: Regional Insights
The market in North America is expected to hold a dominant position in the market. According to American Pet Products Association, 2017-18 National Pet Owner’s survey, U.S. pet expenditure recorded US$ 6.8 billion in 2016 and US$ 69.2 billion in 2017. 89.7 million dogs, 94.2 million cats, and 7.6 million horses were reported as pets in the U.S. Around 68% of households own a companion animal or pet in the U.S. This in turn, makes the U.S. the largest market for veterinary imaging. Europe accounts for the second-largest market for veterinary imaging, as it has one of the robust pet insurance regimes and common households account for significant number of pet ownership. Countries in Asia Pacific, such as China hold lucrative opportunities for market growth, as it has one of highest population of dogs and livestock, according to United States Department of Agriculture (USDA) report, 2017.
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