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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 theveterinary imaging instrument industrywas estimated at USD 1.44 Billion in 2021 and is anticipated to increase at a CAGR of 5.7% from 2022 to 2030.
Veterinary X-ray Market Growth Trends
The global veterinary X-ray market size is expected to reach USD 651.76 million by 2026, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 5.6% during the forecast period.
Rising pet adoption is fueling the need for healthcare facilities, and growing penetration of direct (capture) radiography as well as technological advancements in X-ray systems are some key factors driving growth. As per IDEXX Laboratories, there has been an incremental growth of 2.2% in clinical visits per practice for U.S. companion animals in the first quarter of 2019. The aforementioned factors highlight the untapped opportunities for animal diagnostics segment, inclusive of imaging.
X-ray devices help veterinarians and laboratory technicians to diagnose many conditions, including bladder stones tumors and determine foreign bodies in an animals stomach. These devices also assist in locating fractures and internal injuries. Increasing awareness about animal health along with high adoption of advanced technologies is expected to contribute toward market growth over the forecast period. For instance, advancements in digital radiography and rise in awareness about their benefits such as cost-effectiveness and higher efficiency.
Access the Global Veterinary Imaging Instrument Industry Data Book, 2022 to 2030, compiled with details like market sizing information forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory technological framework studies
Veterinary MRI Market Growth Trends
The global veterinary MRI market size is expected to reach USD 360 million by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a lucrative CAGR of 7.38% from 2023 to 2030.
The key factors driving the growth include the rising pet expenditures, rate of advanced diagnostics procedures, strategic initiatives by companies, and increasing adoption by end-users.In October 2020, Davies Veterinary Specialists in the U.K. and part of Mars Veterinary Health invested about 1.5 million pounds in acquiring new magnetic resonance imaging (MRI) and CT systems. This supported its growth objectives of establishing new veterinary teams and increasing the hospital footprint.
The COVID-19 pandemic impacted the market notably with both challenges and opportunities. Market stakeholders witnessed limited access to veterinary care during the first half of 2020, while manufacturers faced operational and supply chain hurdles. However, the pandemic raised awareness about animal health in general as pet parents stayed at home and were thus more attuned to changes in their pets behavior. This factor combined with the growing humanization of pets is expected to fuel the markets growth in the coming years.
The expansion of service offerings to include MRI training and education is another key factor contributing to the market growth.MRI scanners should be operated by trained technologists as many factors have to be considered when preparing an animal for an MRI. Most times, this training is not part of the veterinary curriculum and must be acquired as part of the training program in a radiologic technology school or by attending special training sessions. MRI VET Academy by Esaote SPA offers free online learning courses that introduce general practitioners to the neurological patient, and common spinal and brain diseases.
The growing adoption of MRI solutions by end-users is also expected to account for significant market growth in the near future. AnimalScan for instance offers CT and MRI services for veterinarians, pet owners, and clinic operators across the U.S. AnimalScan use and recommend Siemens MRI scanner for veterinary neurological use. In July 2021, The University of Pretoria's Onderstepoort Veterinary Academic Hospital in South Africa, acquired an MRI scanner to expand its services lineup. This enabled the facility toperform scans on-site at any time of the day without additional travel time to other facilities.
Veterinary CT Imaging Market Growth Trends
The global veterinary CT imaging market size is expected to reach USD 640.9 million by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.03% from 2023 to 2030. The key factors driving the market growth include the growing adoption of pets, an increasing number of veterinary clinics in developing countries with improved infrastructure, advancing veterinary imaging technologies, and emerging diagnostic centers for veterinary practices.
One of the major drivers propelling the market growth for veterinary CT imaging is increasing access to computed tomography among general veterinary practitioners.The ability to produce 3D reconstructions is crucial for this wide acceptance of CT in veterinary medicine since it helps surgeons and other medical professionals to detect the target site before the treatment and serves as a useful teaching tool for complex anatomy and physiology. Although there is still much research to be done regarding the use of CT scanners in veterinary medicine, recent clinic advancements have focused on using technology coupled with movement-restricting devices to create CT scan images without having to put a patient to sleep, thereby lowering the morbidity rates related to general anesthesia.
Diagnostic imaging modalities play a vital role in veterinary diagnosis and treatment. The recent advancements in the veterinary industry and imaging technologies over the past decade have aided veterinarians in precisely diagnosing several complicated diseases with ease. The high-resolution anatomical images developed by CT equipment help evaluate the pets internal anatomy with more accuracy than standard radiography. Recently, CT scans are widely performed in combination with a contrast reagent that must be given intravenously before imaging. This allows veterinarians to visualize the sites with increased blood flow or clots accurately.
Moreover, comparing other imaging modalities, CT imaging is considered rapid, which allows quick diagnosis without the requirement of long-period anesthesia. For instance, multi-slice CT machines scan and acquire nearly 620 images (cross-sectional) at once. With this flexibility and greater speed, the multi-slice CT scanners from eight to 64 slices are now being widely installed in several general and referral veterinary practices.
In addition, CT systems are gaining traction in academic and private equine practices to evaluate skull diseases. Most of the CT scans performed on large patients are still done on anesthetized animals. The standing CT systems that are under development, allow the sedated horses to be placed in a restraining position for easy convenient diagnosis. Although the method is quite limited and expensive, veterinarians believe that the results and value of diagnostic information obtained using such technology are worth it.
According to MSD Veterinary, there are no CT scanners currently available to scan the thorax or abdomen of horses, unveiling opportunities for market players. The launch of such specific CT systems will rapidly become the choice of imaging modality in horses in no time. Moreover, this imaging modality seems to be replacing conventional radiography in evaluating a few diseases and structures. For instance, CT images scanned for the skull region of any animal are far more informative than traditional radiographs, with vastly simplified accurate results.
The utilization of computed tomography in veterinary medicine is not just applied for diagnosis and treatment, but also used in understanding the areas such as surgical advancements, drug delivery research, and education purposes globally. More developments are being studied in computed tomography for using it as a standalone diagnostic tool in veterinary medicine. Although ECG is frequently used for cardio diseases in animals, CT is widely preferred in cardiovascular clinical and research settings.
New advanced studies such as in-vivo CT scanning is rapidly growing, where SPECT (single photon emission computed tomography) with radiolabeled tracer has shown that such techniques work better in animals following human application. With the increasing acceptance of this sophisticated equipment with associated reagents and software solutions, the veterinary CT imaging market presents a dynamic and ever-growing field in the veterinary industry.
Order your copy of the Free Sampleof 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
Competitive Landscape
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
Grand View Researchs 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.
Go through thetable of content of Veterinary Imaging Instrument Industry Data Bookto get a better understanding of the Coverage Scope of the study
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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