Pet Owners’ Influence on Veterinary Imaging Market Growth By 2022 to 2030

The global veterinary imaging market is predicted to develop at a CAGR of 6.6% between 2022 and 2030, rising from US$ 2.02 billion in 2022 to US$ 3.37 billion by 2030.

According to a research by Future industry Insights (FMI), the global veterinary imaging industry would generate US$ 3.37 billion in revenues by 2030. In more than 20 countries, the research report examines the market growth for veterinary imaging through 2030. The analysis also provides sharp insights into some of the main industry participants’ important business strategies.

The survey claims that as the trend towards pet humanization gets pace, investments are being made in the veterinary diagnostics business. Government regulations and a growing focus on protecting animal health are also likely to drive industry expansion.

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Growth will also be fueled by the expansion of the animal and pet care industry as a whole. NAPHIA predicts that recent years have seen an increase in spending on pet food, pet insurance, and pet pharmaceuticals. Despite the Covid-19 issue, there has been growth in the pet food market.

During the evaluation period, the veterinary imaging industry is projected to benefit from the market’s broader gains as well.

List of Key Players Covered in Veterinary Imaging market are:

• Esaote
• IDEXX Laboratories, Inc.
• IMV Technologies group
• Carestream Health
• Hallmarq Veterinary Imaging Ltd.
• MinXray, Inc.
• Universal Medical Systems, Inc.
• Agfa- Gevaert N.V.
• Mindray Medical International Ltd.
• GE Healthcare
• Siemens AG

The key market players are emphasizing on creating awareness about veterinary imaging devices to enter the untapped markets. For instance – in Oct 2018, GE Healthcare announced having inked a strategic agreement with SonoSim for encouraging training regarding ultrasound services.

“Technological advancements along with inorganic expansion are creating new strides for the veterinary imaging market. These trends are bound to catapult the veterinary imaging market to growth between 2022 and 2030”- says the FMI analyst.

Key Takeaways:

• Animal healthcare being a costly affair, people are shifting their gears to pet insurance
• The veterinary imaging market is driven by an ever-increasing number of veterinarians adopting imaging devices with reagents associated with them, which include PET, MRI, X-Ray radiology devices, and CT scanners
• Multi-slice CT scan systems expected to drive the market in the forecast period
• Asia-Pacific is slowly picking up with people turning the tide in favour of pet care
• Adoption of magnetic resonance imaging (MRI) systems continue to grow at a steady pace

Key Segments:

Veterinary Imaging Market by Product Type:

• Veterinary Imaging Equipment
  • Radiography (X-ray) Systems
    • Computed Radiography
    • Film-based Radiography
  • Ultrasound Imaging Systems
    • 2D US Imaging
    • 3D US Imaging
  • Magnetic Resonance Imaging Systems
  • Computed Tomography Systems
    • Single-slice CT
    • Multi-slice CT
  • Video Endoscopy Imaging Systems
  • Others
• Veterinary Imaging Software
• Veterinary Imaging Reagents
  • Ultrasound Contrast Reagents
  • MRI Contrast Reagents
  • X-Ray/CT Contrast Reagents
  • Nuclear Imaging Reagents

Veterinary Imaging Market by Animal Type:

• Small Animals
• Large Animals

Veterinary Imaging Market by Application:

• Cardiology
• Orthopedics
• Neurology
• Oncology
• Others

Veterinary Imaging Market by End User:

• Veterinary Clinics
• Veterinary Hospitals
• Veterinary Institutes and Research Centers

Veterinary Imaging Market by Region:

• North America Veterinary Imaging Market
• Latin America Veterinary Imaging Market
• Europe Veterinary Imaging Market
• East Asia Veterinary Imaging Market
• South Asia & Pacific Veterinary Imaging Market
• Middle East & Africa (MEA) Veterinary Imaging Market