Veterinary Imaging Instrument Industry Data Book Covers Veterinary X-Ray, Veterinary Ultrasound, Animal MRI and Animal/Veterinary CT Imaging Markets.
The global market size for the veterinary imaging instrument industry was estimated at USD 1.44 Billion in 2021 and is anticipated to increase at a CAGR of 5.7% from 2022 to 2030.
Grand View Research’s Veterinary Imaging Instrument industry data book is a collection of market sizing information forecasts, regulatory data, competitive benchmarking analyses, macro-environmental analyses, and technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.
veterinary x-ray market Insights
The global veterinary X-ray market size was valued at USD 423.59 million in 2018 and is expected to grow at a CAGR of 5.6% during the forecast period.
Computed radiography held a dominant share as of 2018, owing to greater market penetration, cost-effectiveness, and ease of installation, as well as being faster than film-based radiography cheaper than direct radiography. Veterinarians prefer digital radiography to diagnose complex conditions in animals. Demand for efficient treatment options is growing due to increase in trend of pet ownership.
Digital radiography held a dominant revenue share as of 2018 owing to its various advantages. Some of the benefits of using digital equipment are low labor costs, shorter capture time, and sizeable profit margins for market players. In addition, this technology enables generation of images within a few seconds of exposure, due to which direct exposure to radiation can be reduced.
The small companion animals segment accounted for dominant revenue share in 2018. Veterinary X-ray has numerous applications in small animal medicine. Humans are witnessing positive health benefits from their pets, which encourages companion animal ownership. Growing concern for pets increase in willingness to spend on their health, as well as introduction of cost-effective diagnostic imaging solutions are some of the factors anticipated to boost demand in the coming years.
Orthopedic and traumatology held the largest revenue share as of 2018. This growth can be attributed to a rise in the number of injuries in animals, high demand for accurate diagnostics, and increase in the number of animal care facilities.
Veterinary hospitals dominated the market in 2018. The demand for fast, accurate, and cost-effective diagnostic tools in animal healthcare contributes toward the high demand for X-ray equipment in animal healthcare facilities. Technological advancements in imaging are expected to drive adoption in animal healthcare facilities over the forecast period.
Access the Global Veterinary Imaging Instrument Industry Data Book, 2022 to 2030, compiled with details like market sizing information forecasts, trade data, pricing intelligence, competition benchmarking, macro-environmental analyses, and regulatory technological framework studies
Veterinary MRI Market Insights
The global veterinary MRI market size was valued at USD 205.93 million in 2022 and is expected to expand at a lucrative compound annual growth rate (CAGR) of 7.38% from 2023 to 2030.
In terms of solutions, MRI scanners accounted for the largest share of over 40% in 2022. Launch of vet-specific equipment by market players, strategic initiatives by the stakeholders, and technological advancements are some of the key factors contributing to the significant share of the segment.
The small animals segment held the largest revenue share of the market in 2022 and is also anticipated to grow at the fastest CAGR in the coming years. This is owing to increasing pet expenditure and the adoption of pet insurance. Amongst these, dogs dominated the small animal market due to the high popularity of canines as pets and the increasing prevalence of diseases in pets.
By end-use, the veterinary hospitals segment accounted for the largest share of more than 50% in 2022. Some of the factors contributing to the high share of the segment include the higher budget capacity of hospital facilities, the notable volume of patients received, and the expansion of service offerings to increase revenue.
Veterinary CT Imaging Market Insights
The global veterinary CT imaging market size was estimated at USD 373.03 million in 2022 and is expected to expand at a lucrative compound annual growth rate (CAGR) of 7.03% from 2023 to 2030.
The equipment segment dominated the global veterinary CT imaging market and generated the largest revenue share of over 45% in the year 2022. Several veterinary practices are now installing multi-slice CT scanners starting from eight slices to 64 slices, to diagnose animals of all sizes and shapes.
The small animal segment dominated the market by animal type in 2022 and generated the largest revenue share of over 55%. Growing pet adoption and ownership rates in developed countries have simultaneously increased the willingness of people to spend more on their pet’s healthcare. According to the American Kennel Club (AKC), the number of U.S. households owning dogs reached 69 million (54%) in 2021, which increased from 50% in 2018.
With a revenue share of over 45% in 2022, the veterinary hospitals clinics segment dominated the market by end-use, owing to their timely diagnosis, allowing patients to receive treatment as soon as possible. Moreover, veterinary hospitals offer a wide range of diagnostic CT imaging options, which is a high-impact rendering driver of this market.
Veterinary Imaging Instrument Market – Global Industry Segmentation
Veterinary Imaging Instrument Industry, By Product
- Veterinary X-Ray
- Veterinary Ultrasound
- Veterinary MRI
- Veterinary CT
- Veterinary Video Endoscopy Imaging
Veterinary Imaging Instrument Industry, By Application
- Gastrointestinal
- Urinary genital
- Abdominal Endoscopy
- Orthopedics and Traumatology
- Neurology
- Oncology
- Cardiology
- Other
Veterinary Imaging Instrument Industry, By End-Use
- Clinics/Hospitals
- Reference Labs
- Others
Veterinary Imaging Instrument Industry, By Animal Type
- Companion Animals
- Large Animals
Order your copy of the Free Sample of “Veterinary Imaging Instrument Industry Data Book - Veterinary X-Ray, Veterinary Ultrasound, Animal MRI and Animal/Veterinary CT Imaging Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research
Veterinary Imaging Instrument Industry Data Book Regional Outlook
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Russia
- Netherlands
- Sweden
- Switzerland
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Australia
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Middle East Africa (MEA)
- South Africa
- United Arab Emirates
- Saudi Arabia
- Rest of MEA
Veterinary Imaging Instrument Industry Data Book Competitive Landscape
These players incorporate various strategic initiatives, such as partnerships, sales marketing activities, mergers acquisitions, service expansion, integrated offerings, and product launches, to strengthen their market presence.
Key players operating in the veterinary imaging instrument industry are –
- IDEXX Laboratories, Inc.
- Canon Medical Systems Corporation
- FUJIFILM Holdings America Corporation
- Samsung
- Heska Corporation
- Butterfly Network, Inc
- Carestream Health
- Midmark Corporation
- ESAOTE SPA
- SOUND
Go through the table of content of Veterinary Imaging Instrument Industry Data Book to get a better understanding of the Coverage Scope of the study
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