Global Veterinary Imaging Market Is Likely To Grow At A CAGR Value Of Around 4.4% By 2028

18-Apr-2022 | Zion Market Research

The global veterinary imaging market was worth around USD 1,529.50 million in 2021 and is estimated to grow to about USD 2269.74 million by 2028, with a compound annual growth rate (CAGR) of approximately 6.8 percent over the forecast period. The report analyzes the veterinary imaging market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the veterinary imaging market.

Veterinary imaging is crucial in the diagnostic and treatment of multiple veterinary conditions and this is expected to be the prime factor driving veterinary imaging market potential through 2028. The increasing number of companion animals and increasing pet ownership will further cement the veterinary imaging market stance in the coming years.

Government initiatives to promote veterinary health and increasing research and development in the veterinary imaging market are expected to further boost the veterinary imaging market potential over the forecast period. The rising popularity of benefits offered by companion animals and increasing recommendations by medical professionals will further boost the demand for pet care.

Veterinary imaging companies are trying to reduce the cost of their offering as they are priced very highly in the global veterinary imaging market landscape which slows down the global veterinary imaging market pace and is anticipated to be a major constraint to growth over the forecast period.

Lack of focus on animal healthcare in the 2020 pandemic due to adverse conditions resulted in a negative growth trend for the veterinary imaging market. Lockdown restrictions caused multiple veterinary clinics and hospitals to close down and hence resulting in a slow down of sales of veterinary imaging equipment in this era.

The veterinary imaging market is expected to make a comeback in the post-pandemic era as multiple pet owners flock to get their pets the delayed treatment that was not done due to the emergence of the COVID-19 pandemic. The sales of veterinary imaging are expected to see a hike at a steady pace as the world returns to normal operating procedures and we see a major change in trends for animal healthcare across the world.

The global veterinary imaging market is segregated based on animal type, product type, therapeutic area, end user, and region. Based on End user, the veterinary imaging market is segmented into Veterinary Clinics and Diagnostic Centers, Veterinary Hospitals and Academic Institutions. The veterinary clinics segment is expected to hold a dominant outlook over the forecast period owing to the rising number of veterinary clinics being established across the world. The veterinary hospital segment is also expected to see a steady increase in demand in the global veterinary imaging market landscape.

Browse the full Veterinary imaging Market By Animal Type (Small Companion Animals, Large Animals, Other Animals), By Product Type (Veterinary Imaging Instruments, Radiography (X-RAY), Computed Radiography Systems, Direct Radiography Systems, Film-based Radiography Systems, Ultrasound Imaging Systems, 2D Ultrasound Imaging Systems, 3D/4D Ultrasound Imaging Systems, Doppler Ultrasound Imaging Systems, Computed Tomography Imaging Systems, Stationary Multi-slice Computed Tomography Systems, Portable Computed Tomography Systems, Video Endoscopy Imaging Systems, Magnetic Resonance Imaging Systems, Other Imaging Systems, Veterinary Imaging Reagents, X-RAY and CT Contrast Reagents, MRI Contrast Reagents, Ultrasound Contrast Reagents, Veterinary Imaging Software), By Therapeutic Area (Orthopedics & Traumatology, Obstetrics & Gynecology, Oncology, Cardiology, Neurology, Dentistry, Other Therapeutic Areas)By End user (Veterinary Clinics and Diagnostic Centers, Veterinary Hospitals and Academic Institutions), and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028.” Report at https://www.zionmarketresearch.com/report/veterinary-imaging-market

North America region is expected to hold a dominant outlook in the global veterinary imaging industry landscape. An increasing number of companion animals, rising focus on veterinary care, increasing pet ownership, presence of key veterinary imaging equipment manufacturers, and supportive government initiatives to boost awareness about animal health are some of the major factors propelling the veterinary imaging market landscape in this region over the forecast period.

Key players functioning in the global veterinary imaging market include GE Healthcare (US), Agfa-Gevaert N.V. (Belgium), Carestream Health (US), Esaote S.p.A (Italy), IDEXX Laboratories, Inc. (US), Mindray Medical International Limited (China), Canon Inc. (Japan), Heska Corporation (US), Siemens Healthineers (Germany), FUJIFILM Holdings Corporation (Japan), Konica Minolta Inc. (Japan), Samsung Electronics Co., Ltd. (South Korea), E.I. Medical Imaging (US), IMV imaging (UK), SEDECAL (Spain), Clarius Mobile Health (Canada), Shenzhen Ricso Technology Co. Ltd. (China), DRAMIÑSKI S.A. (Poland), Epica Animal Health (US), and ClearVet Digital Radiography Systems (US), MinXray Inc. (US), Hallmarq Veterinary Imaging (UK), Shantou Institute of Ultrasonic Instruments Co., Ltd (China), Sonoscape Medical Corp. (China), and Reproscan (US).

Recent developments:

  • In September 2021, Canon Inc. a leading optics company based in japan announced the signiing of an agreement with Redlen Technologies Inc to make it a Canon owned firm. This will advance the imaging and radiation detection business of Canon and will help in advancing its veterinary imaging product portfolio as well.

Global veterinary imaging market is segmented as follows:

By Animal type

  • Small Companion Animals
  • Large Animals
  • Other Animals

By Product Type

  • Veterinary Imaging Instruments
  • Radiography (X-RAY)
  • Computed Radiography Systems
  • Direct Radiography Systems
  • Film-based Radiography Systems
  • Ultrasound Imaging Systems
  • 2D Ultrasound Imaging Systems
  • 3D/4D Ultrasound Imaging Systems
  • Doppler Ultrasound Imaging Systems
  • Computed Tomography Imaging Systems
  • Stationary Multi-slice Computed Tomography Systems
  • Portable Computed Tomography Systems
  • Video Endoscopy Imaging Systems
  • Magnetic Resonance Imaging Systems
  • Other Imaging Systems
  • Veterinary Imaging Reagents
  • X-RAY and CT Contrast Reagents
  • MRI Contrast Reagents
  • Ultrasound Contrast Reagents
  • Veterinary Imaging Software

By Therapeutic Area

  • Orthopedics & Traumatology
  • Obstetrics & Gynecology
  • Oncology
  • Cardiology
  • Neurology
  • Dentistry
  • Other Therapeutic Areas

By End user

  • Veterinary Clinics and Diagnostic Centers
  • Veterinary Hospitals and Academic Institutions

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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