Global Veterinary Imaging Market, By Product (Veterinary Imaging Instruments, Veterinary Imaging Reagents, Veterinary Imaging Software), Modality (Stationary Instruments and Portable Instruments), Animal Type (Small Companion Animals and Large Animals), Application (Orthopaedics and Traumatology, Oncology, Cardiology, Neurology, Respiratory, and Dental Application), End-Use (Hospitals and Clinics) – Industry Trends and Forecast to 2031.
Veterinary Imaging Market Analysis and Size
The veterinary imaging market is advancing with AI-enhanced diagnostics, portable imaging devices, and 3D imaging technologies. Usage spans pet healthcare and livestock management. The latest methods include non-invasive imaging techniques and cloud-based data analysis. Growth is driven by increased pet ownership, rising veterinary expenditures, and technological innovations enhancing diagnostic accuracy and efficiency.
The global veterinary imaging market size was valued at USD 1.90 billion in 2023 and is projected to reach USD 2.97 billion by 2031, with a CAGR of 5.75% during the forecast period 2024 to 2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Product (Veterinary Imaging Instruments, Veterinary Imaging Reagents, Veterinary Imaging Software), Modality (Stationary Instruments and Portable Instruments), Animal Type (Small Companion Animals and Large Animals), Application (Orthopaedics and Traumatology, Oncology, Cardiology, Neurology, Respiratory, and Dental Application), End-Use (Hospitals and Clinics)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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Bruker (U.S.), General Electric Company (U.S.), Koninklijke Philips N.V. (Netherlands), Hitachi Healthcare Americas (Japan), Siemens Healthcare Limited (Germany), Fujifilm Holdings America Corporation (Japan), PerkinElmer, Inc. (U.S.), Clarius (Canada), DRAMIŃSKI S. A. (Poland), Epica Animal Health (U.S.), MinXray, Inc. (U.S.), Hallmarq Veterinary Imaging (U.K.), SonoScape Medical Corp. (China), and Reproscan (U.S.)
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Market Opportunities
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Market Definition
Veterinary imaging involves using medical imaging techniques, such as X-rays, ultrasound, MRI, and CT scans, to diagnose and monitor diseases in animals. These methods allow veterinarians to visualize the internal structures of animals, aiding in accurate diagnosis, treatment planning, and monitoring of various conditions, ultimately improving animal healthcare and treatment outcomes.
Veterinary Imaging Market Dynamics
Drivers
- Increasing Pet Ownership and Spending
Rising pet ownership rates, particularly in developed countries, coupled with increasing expenditure on pet healthcare, significantly drive the demand for advanced veterinary imaging technologies. For instance, in the United States, pet ownership has surged, with more households investing in comprehensive veterinary care, including imaging services. This trend reflects a broader commitment to animal health, boosting the veterinary imaging market as pet owners seek accurate diagnostics and effective treatments for their pets.
- Expansion of Veterinary Clinics and Hospitals
The expansion of veterinary clinics and hospitals equipped with advanced imaging facilities significantly boosts the accessibility and utilization of imaging services. For instance, the opening of a new state-of-the-art veterinary hospital with MRI and CT scan capabilities in urban areas allows pet owners to access cutting-edge diagnostic tools more easily. This increased availability and convenience drive the demand for veterinary imaging services, thereby propelling market growth.
Opportunities
- Advancements in Imaging Technology
Advancements in imaging technology, such as the development of 3D and 4D imaging, have significantly enhanced diagnostic capabilities in veterinary medicine. These technologies provide detailed, real-time images, allowing for more accurate diagnoses and treatment plans. For instance, 4D imaging enables veterinarians to observe the movement of internal organs in real-time, leading to better assessments of conditions such as heart disease, ultimately driving market growth through improved diagnostic outcomes.
- Rising Incidence of Animal Diseases
The rising incidence of chronic diseases and conditions in animals, such as cancer and orthopedic disorders, drives the need for sophisticated imaging techniques for accurate diagnosis and treatment planning. For instance, the increasing number of pets diagnosed with osteosarcoma requires advanced imaging such as MRI and CT scans to precisely locate tumors and plan surgical interventions, thus propelling the veterinary imaging market's growth.
Restraints/Challenges
- Lack of Skilled Professionals
The shortage of skilled veterinary radiologists and technicians impedes the effective utilization of advanced imaging technologies in veterinary practices. Operating such equipment demands specialized training, creating a significant barrier to widespread adoption. This scarcity limits the market's growth potential as veterinary clinics struggle to find qualified personnel capable of efficiently handling and interpreting diagnostic imaging results.
- High Cost of Equipment
The high cost of veterinary imaging equipment, including MRI, CT scanners, and digital radiography systems, poses a formidable barrier for smaller veterinary practices and clinics. This financial burden limits their ability to invest in advanced diagnostic capabilities, thereby restricting market growth in the veterinary imaging sector.
This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Developments
- In April 2024, Asteris and VetlinkPRO forged a partnership to integrate advanced imaging technology with VetlinkPRO's practice management system, aiming to enhance diagnostic capabilities and streamline veterinary practice operations
- In June 2023, ESAOTE SPA launched the MyLab X90VET ultrasound system featuring patented Augmented Insight technology. This system offers veterinarians precise and accurate diagnostic imaging, catering specifically to the unique needs of veterinary medicine
- In February 2021, Fujifilm introduced the VXR Veterinary X-ray room, a digital radiography system tailored for veterinary use. Known for its innovative design, this system enables veterinarians to adopt high-quality, low-dose X-ray imaging that is cost-effective, versatile, user-friendly, and easy to install
Veterinary Imaging Market Scope
The market is segmented on the basis of product, modality, animal type, application and end use. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- Veterinary Imaging Instruments
- Radiography (X-ray ) Imaging System
- Computed Radiography System
- Direct Radiography System
- Flim-Based Radiography System
- Ultrasound Imaging System
- 2D Ultrasound Imaging System
- 3D/4D Ultrasound Imaging System
- Doppler Ultrasound Imaging System
- Video Endoscopy Imaging System
- Magnetic Resonance Imaging System
- Others Imaging System
- Radiography (X-ray ) Imaging System
- Veterinary Imaging Reagents
- X-Ray and CT Contrast Reagents
- MRI Contrast Reagents
- Ultrasound Contrast Reagents
- Veterinary Imaging Software
Modality
- Stationary Instruments
- Portable Instruments
Animal Type
- Small Companion Animals
- Large Animals
Application
- Orthopaedics and Traumatology
- Oncology
- Cardiology
- Neurology
- Respiratory
- Dental Application
End-Use
- Hospitals
- Clinics
Veterinary Imaging Market Regional Analysis/Insights
The market is analysed and market size insights and trends are provided by country, product, modality, animal type, application and end use as referenced above.
The countries covered in the market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America is expected to dominate the veterinary imaging market due to the region's increasing adoption of companion animals. This trend is bolstered by higher animal health expenditures and a growing focus on livestock for protein-rich food, driving market growth significantly in the region.
Asia-Pacific is expected to grow in the veterinary imaging market due to increasing awareness and disposable incomes. Rising concern for animal health and heightened awareness about advanced imaging technologies are driving this growth. These factors collectively contribute to a flourishing market landscape in the region during the forecast period.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Veterinary Imaging Market Share Analysis
The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to market.
Some of the major players operating in the market are:
- Bruker (U.S.)
- General Electric Company (U.S.)
- Koninklijke Philips N.V. (Netherlands)
- Hitachi Healthcare Americas (Japan)
- Siemens Healthcare Limited (Germany)
- Fujifilm Holdings America Corporation (Japan)
- PerkinElmer, Inc. (U.S.)
- Clarius (Canada)
- DRAMIŃSKI S. A. (Poland)
- Epica Animal Health (U.S.)
- MinXray, Inc. (U.S.)
- Hallmarq Veterinary Imaging (U.K.)
- SonoScape Medical Corp. (China)
- Reproscan (U.S.)
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