Veterinary Imaging Market Size, Share, Growth Analysis, By Product, By Modality, By Application, By Animal Type, By End User, By Region - Industry Forecast 2024-2031
Shantou Institute of Ultrasonic Instruments Co. Ltd.(China)
Sonoscape Medical Corp.(China)
Reproscan(US)
JHS
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Global Veterinary Imaging Market size was valued at USD 1.6 billion in 2022 and is poised to grow from USD 1.72 billion in 2023 to USD 3.04 billion by 2031, growing at a CAGR of 7.40% during the forecast period (2024-2031).
The veterinary imaging market is experiencing significant growth, driven by several key factors including the rise in pet ownership, an increase in the prevalence of veterinary diseases, and escalating expenditures on pet care. Research indicates that around 10-15% of dogs suffer from cardiac issues, with 5% of these being congenital heart diseases, highlighting the need for advanced diagnostic imaging. Manufacturers of veterinary imaging equipment are increasingly partnering with public and private veterinary clinics to enhance their diagnostic capabilities, further fueling this trend. In developed regions, particularly the United States, the growing number of pet-owning households correlates with higher spending on comprehensive veterinary services, including imaging, reflecting a stronger commitment to animal health. As pet owners seek precise diagnoses and effective treatments, demand for advanced imaging technologies escalates. Additionally, the emergence of well-equipped veterinary hospitals with MRI and CT scanning capabilities in urban areas significantly improves access to high-quality diagnostic services. This enhanced availability fosters increased service utilization, driving further demand for veterinary imaging. Overall, the combination of these factors creates a robust environment for market expansion as pet owners prioritize their animals' health and well-being, thereby fostering advancements in veterinary imaging technology.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global Veterinary Imaging market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Global Veterinary Imaging Market Segmental Analysis
Global Veterinary Imaging Market is segmented by Product, Modality, Application, Animal Type, End User, and region. Based on Product, the market is segmented into Veterinary Imaging Instruments, Veterinary Imaging Reagents, and Veterinary Imaging Software. Based on Modality, the market is segmented into Stationary Instruments, and Portable Instruments. Based on Application, the market is segmented into Orthopedics and Traumatology, Obstetrics and Gynecology, Oncology, Cardiology, Neurology, Dentistry, and Other Applications. Based on Animal Type, the market is segmented into Small Companion Animals, Large Animals, and Other Animals. Based on End User, the market is segmented into Veterinary Clinics and Diagnostic Centers, and Veterinary Hospitals and Academic Institutions. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Driver of the Global Veterinary Imaging Market
The Global Veterinary Imaging market is significantly driven by the rise in pet ownership and the corresponding willingness of owners to invest in high-quality pet healthcare. As more families welcome pets into their homes, particularly in regions like the US, there is a growing demand for comprehensive veterinary services that include advanced imaging technologies. This trend reflects an increasing societal emphasis on animal health and welfare, prompting pet owners to seek precise diagnostic tools and effective treatment options. Consequently, the market has experienced robust growth, with heightened demand for sophisticated imaging procedures like CT and MRI scans, positioning veterinary imaging as a vital component of modern veterinary care.
Restraints in the Global Veterinary Imaging Market
The Global Veterinary Imaging market faces significant restraint due to a notable shortage of qualified veterinary radiologists and technicians adept at utilizing advanced imaging technologies such as CT and MRI scanners. The operation of these sophisticated devices demands specialized knowledge and experience, which is currently lacking in the industry. Consequently, many veterinary clinics struggle to implement these cutting-edge technologies, as they lack competent personnel capable of executing and interpreting diagnostic procedures effectively. This deficiency not only hampers the adoption of modern imaging capabilities but also stifles the overall growth potential of the veterinary imaging market, limiting advancements in animal healthcare.
Market Trends of the Global Veterinary Imaging Market
The integration of Machine Learning (ML) and Artificial Intelligence (AI) is emerging as a significant market trend in the Global Veterinary Imaging market, reflecting a transformative shift in diagnostic capabilities. These advanced technologies are revolutionizing image data analysis, enhancing picture quality, and facilitating more accurate diagnoses through anomaly detection and automated image processing. The predictive insights provided by AI not only streamline interpretation but also enhance diagnostic precision, thereby increasing productivity in veterinary practices. As practitioners increasingly recognize the value of AI-enhanced imaging systems in delivering rapid and accurate diagnoses, the demand for these innovative solutions is expected to surge, driving the overall growth of the market.
Table of Contents
Introduction
Objectives of the Study
Definitions
Market Scope
Research Methodology
Information Procurement
Secondary & Primary Data Sources
Market Size Estimation
Market Assumptions & Limitations
Executive Summary
Market Overview Outlook
Supply Demand Trend Analysis
Segmental Opportunity Analysis
Market Dynamics & Outlook
Market Dynamics
Drivers
Opportunities
Restraints
Challenges
Porters Analysis
Competitive rivalry
Threat of Substitute Products
Bargaining Power of Buyers
Threat of New Entrants
Bargaining Power of Suppliers
Key Market Insights
Key Success Factor
Degree of Competition
Top Investment Pockets
Ecosystem of the Market
Technology Analysis
Pricing Analysis
Value Chain Analysis
Supply Chain Analysis
Patent Analysis
Customer & Buying Criteria Analysis
Veterinary Imaging Market by Product
Market Overview
Veterinary Imaging Instruments
Radiography Imaging Systems
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
Veterinary Imaging Instruments Market by Modality
Market Overview
Stationary Instruments
Portable Instruments
Veterinary Imaging Market by Application
Market Overview
Orthopedics And Traumatology
Obstetrics And Gynecology
Oncology
Cardiology
Neurology
Dentistry
Other Applications
Veterinary Imaging Market by Animal Type
Market Overview
Small Companion Animals
Large Animals
Other Animals
Veterinary Imaging Market by End User
Market Overview
Veterinary Clinics and Diagnostic Centers
Veterinary Hospitals and Academic Institutions
Veterinary Imaging Market Size by Region
Market Overview
North America
USA
Canada
Europe
Germany
Spain
France
UK
Italy
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
Latin America
Brazil
Rest of Latin America
Middle East & Africa (MEA)
GCC Countries
South Africa
Rest of MEA
Competitive Landscape
Top 5 Player Comparison
Market Positioning of Key Players, 2023
Strategies Adopted by Key Market Players
Recent Activities in the Market
Key Companies Market Share (%), 2023
Key Company Profiles
GE Healthcare (US)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
AGFA-Gevaert Group (Belgium)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Carestream Health, Inc. (US)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Esaote S.P.A. (Italy)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Idexx Laboratories, Inc. (US)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Mindray Medical International Limited (China)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Canon Inc. (Japan)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Heska Corporation (US)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Siemens Healthineers (Germany)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Fujifilm Holdings Corporation (Japan)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Konica Minolta, Inc. (Japan)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Samsung Electronics Co., Ltd. (South Korea)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
E.I. Medical Imaging (US)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
IMV Imaging (UK)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Sedecal (Spain)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Clarius (Canada)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Shenzhen Ricso Technology Co. Ltd. (China)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Draminski S.A. (Poland)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Epica Animal Health (US)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Clearvet Digital Radiography Inc. (US)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Minxray, Inc. (US)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Hallmarq Veterinary Imaging (UK)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Shantou Institute of Ultrasonic Instruments Co. Ltd. (China)