Between 2022 and 2030, the Veterinary Imaging Market is expected to grow at a CAGR of 6.6%, from US$ 2.02 billion in 2022 to US$ 3.37 billion by 2030.
A study by Future Industry Insights (FMI) predicted that by 2030, the worldwide veterinary imaging market would bring in US$3.37 billion. The research study looks at the market development for veterinary imaging through 2030 in more than 20 nations. The report offers precise insights into some of the key players in the industry’s crucial business strategies.
According to the poll, investments are being made in the veterinary diagnostics industry as the trend towards pet humanization picks up speed. Additionally likely to fuel industry growth are governmental rules and a greater emphasis on preserving animal health.
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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.
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
“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.
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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.
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
- Radiography (X-ray) Systems
- 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
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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