Veterinary Imaging Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Veterinary Imaging Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Veterinary Imaging Market

The veterinary imaging market size was valued at USD 2.07 billion in 2023, and the market is now projected to grow from USD 2.19 billion in 2024 to USD 3.62 billion by 2032, exhibiting a CAGR of 6.5% during the forecast period of 2024-2032.

The veterinary imaging market was slightly affected by the COVID-19 pandemic at its early stages. Two, reduced traffic to veterinary clinics that was due to closures and restrictions practices meant that they could attend only emergencies meaning elective surgeries and checkups had reduced hugely. This directly affected the client’s demand for imaging services that are accustomed to diagnosing or monitoring health status changes during these procedures, including X-rays and ultrasounds. Moreover, the global value chains got significantly affected due to which it became difficult to procure key parts required for imaging devices. Several factors affecting supplies for new machines and the delivery of replacement parts affected new machine production and repair schedules. This hindered the veterinary imaging market growth.

The high incidence of diseases affecting animals has led to the constant need for veterinary imaging products. The gigantic knowledge regarding veterinary diseases and how to conduct a preliminary test for outbreak can boost the global market in the coming period. This is provoked by the occurrence of the diseases that may lead to loss of lives and even the economy. In countries where economy is almost entirely based on animals, outbreaks of disease in livestock may be a colossal loss. This factor drives the veterinary imaging market share.

There is a gradual move from conventional use of x-ray films in lieu of digital radiography in veterinary practice in an effort to analyse photographs and shorten the time taken to make diagnoses more convenient to pet owners as well as the animal involved. Digital radiography is slightly different from the traditional projection radiography in that it utilizes a digital X-ray detector not photographic film.

Comprehensive Analysis of Veterinary Imaging Market

The veterinary imaging market is responding quite an unprecedented rate of growth because of its market segmentation. This indicators growth in different regions by substituting the major forces of supply and demand which define the shape of local pharmacy benefit management market. Therefore, they are logically divided into 5 Segments, By Product Type Analysis, By Application Analysis, By Type Analysis, By Animal Type Analysis and By End-User Analysis. By product type the market is divided into groups such as X-Ray, Ultrasound, Computed Tomography Systems, Magnetic Resonance Imaging Systems and other. The Major market segment of X-ray held the largest share in 2023 due to rising number of pet ownership, frequent incidence of animal diseases, rising disposable income and several product innovations by the market players. On a basis of applications, the market is segmented into neurology, oncology, cardiology, gynaecology, orthopaedics and others. Indeed, in terms of value, the orthopaedic segment dominated the overall market in 2023. Depending on type, the market is split into instruments/systems, imaging reagents and imaging software. From the viewpoint of the animal type, the market can be shifted into the two sub-sectors; the companion animal and the livestock animals. The segment of companion animals led in the global market in 2023 and is expected to grow at an even higher CAGR in the period under consideration. Based on the end-user, the market has been classified into veterinary hospitals, diagnostic imaging centres and other. The veterinary hospital segment also offered the largest share of the market.

The market size in North America had a considerable presence in the global market and was valued at USD 1.01 billion in 2023. The factors that have contributed to the region’s supremacy include high acceptance of pet animals in the U.S. and Canada; massive expenditure in spending what concerns pet care, increased employment in the veterinary field and favourable reimbursement perspective.

GENERAL ELECTRIC COMPANY (U.S.), Agfa-Gevaert Group (Belgium), Esaote SpA (Italy), Siemens Healthineers AG (Germany), Heska Corporation (U.S.), IDEXX Laboratories, Inc. (U.S.), FUJIFILM Holdings Corporation (Japan), Carestream Health (U.S.), Canon Medical Systems Corporation (Japan) and Koninklijke Philips N.V. (Netherlands) are significant players in the medical devices market. They are the key player that ensures the industry's success while still having to keep pace with their innovation in product and services. They offer a competitive zone that incites the growth of technologies and quality assurance. They operate on a global scale and have a wide range of product lines ensuring that the market players compete on a fair playing field bringing in innovations that result in the market's evolution.

In February 2024, IONETIX collaborated with Provision Diagnostic Imaging in Knoxville; this company uses N-13 Ammonia produced by IONETIX using the firm’s machinery. Provision Diagnostic Imaging is one of the largest and most advanced outpatient diagnostic centres in the East Tennessee region with an emphasis on the use of cutting edge diagnostics technologies.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Unit Value (USD Billion)

Growth Rate CAGR of 6.5% from 2024-2032

Segmentation By Product Type

X-ray

Ultrasound

Computed Tomography Systems

Magnetic Resonance Imaging Systems

Others

By Application

Neurology

Oncology

Cardiology

Gynecology

Orthopedics

Others

By Type

Instruments/Systems

Imaging Reagents

Imaging Software

By Animal Type

Companion Animals

Livestock Animals

By End-User

Veterinary Hospitals

Diagnostic Imaging Centers

Others

By Region

North America (By Product Type, Application, Type, Animal Type, End-User, and Country)

U.S.

Canada

Europe (By Product Type, Application, Type, Animal Type, End-User, and Country/Sub-Region)

U.K.

Germany

France

Spain

Italy

Scandinavia

Rest of Europe

Asia Pacific (By Product Type, Application, Type, Animal Type, End-User, and Country/Sub-Region)

Japan

China

India

Australia

Southeast Asia

Rest of Asia Pacific

Latin America (By Product Type, Application, Type, Animal Type, End-User, and Country/Sub-Region)

Brazil

Mexico

Rest of Latin America

Middle East & Africa (By Product Type, Application, Type, Animal Type, End-User, and Country/Sub-Region)

GCC

South Africa

Rest of the Middle East & AfricaPlease Note: It will take 5-6 business days to complete the report upon order confirmation.