Overview and Scope
Veterinary imaging is a diagnostic tool that allows veterinarians to obtain detailed images of internal structures of the animal’s body to help identify and diagnose medical conditions.
Sizing and Forecast
The veterinary imaging market size has grown strongly in recent years. It will grow from $1.74 billion in 2023 to $1.89 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to increasing pet ownership, advancements in veterinary care, prevalence of veterinary diseases, humanization of pets, companion animal industry growth..
The veterinary imaging market size is expected to see strong growth in the next few years. It will grow to $2.55 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The growth in the forecast period can be attributed to rising focus on preventive veterinary care, increasing specialty veterinary services, global expansion of veterinary services, technological integration in veterinary practices, growing awareness of zoonotic diseases.. Major trends in the forecast period include customization for different animal species, introduction of 4d imaging technology, enhancements in ultrasound technology, increased use of digital radiography, application of veterinary imaging in research..
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Segmentation & Regional Insights
The veterinary imaging market covered in this report is segmented –
1) By Product: Veterinary Imaging Instruments, Veterinary Software, Veterinary Imaging Reagents
2) By Animal Type: Small Companion Animals, Large Animals
3) By Application: Orthopaedics And Traumatology, Oncology, Cardiology, Neurology
4) By End-Use: Veterinary Clinics And Hospitals, Other End-Uses
North America was the largest region in the veterinary imaging market in 2023. The regions covered in the veterinary imaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
Increased demand for meat and dairy products is expected to propel the growth of the veterinary imaging market going forward. Meat and dairy products refer to animal-derived food products such as beef, pork, poultry, milk, cheese, and yogurt, among others. Veterinary imaging plays a crucial role in ensuring the health and well-being of livestock animals, which are used for meat and dairy production. For instance, according to the OECD-FAO Agricultural Outlook 2022-2031, reported by the Organization for Economic Co-operation and Development, a France-based government agency, global meat production is projected to reach 377 million tons in 2023. Therefore, increased demand for meat and dairy products is driving the veterinary imaging market.
Key Industry Players
Product innovations are a key trend gaining popularity in the veterinary imaging market. Major market players are concentrating their efforts on introducing new and innovative products to strengthen their position in the market. For instance, in January 2023, Esaote SpA, an Italy-based medical diagnostic equipment manufacturing company, introduced the Magnifico Vet MRI system, a new and unique imaging solution to provide diagnostics for veterinary hospitals. The MagnificoTM Vet MRI system is environmentally friendly as it is created with long-lasting green permanent magnet technology, is cryogen-free, and consumes a lot less power than superconducting systems. It is outfitted with cutting-edge technologies that provide imaging versatility across a wide range of clinical applications, such as Metal Artefact Reduction (MAR), which enables visualization for post-surgical imaging, particularly when microchips are present, and Speed Up and TR Reduction, advanced data acquisition algorithms that shorten exam times.
The veterinary imaging market report table of contents includes:
1. Executive Summary
2. Veterinary Imaging Equipment Market Characteristics
3. Veterinary Imaging Equipment Market Trends And Strategies
4. Veterinary Imaging Equipment Market – Macro Economic Scenario
5. Global Veterinary Imaging Equipment Market Size and Growth
….
32. Global Veterinary Imaging Equipment Market Competitive Benchmarking
33. Global Veterinary Imaging Equipment Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Veterinary Imaging Equipment Market
35. Veterinary Imaging Equipment Market Future Outlook and Potential Analysis
36. Appendix
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