Veterinary Imaging Market 2023: Opportunities in 3D and 4D Imaging Technologies | 6.3% CAGR

The Veterinary Imaging Market by Product Type (Instrument, Reagents, and Others), Animal Type (Companion Animals, Large Animals, and Other Animals), Application (Orthopedics & Traumatology, Oncology, Cardiology, Neurology, and Other Application), and End User (Clinics & Hospitals, Reference Labs, and Other End User): Global Opportunity Analysis and Industry Forecast, 2019–2026. According to the report, the global veterinary imaging industry garnered $1.62 billion in 2018, and is projected to reach $2.65 billion by 2026, registering a CAGR of 6.3% from 2019 to 2026.

The Veterinary Imaging Market involves the use of diagnostic imaging modalities such as X-rays, ultrasound, MRI, CT scans, and others to diagnose and treat diseases in animals. The market is driven by increasing pet ownership and healthcare spending, rising demand for pet insurance, and growing awareness about animal health among pet owners. The market is segmented by product type, animal type, end user, and geography.

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Prime determinants of growth

Technological advancements in imaging systems, surge in pet ownership across the world, and increase in spending on animal health drive the growth of the global veterinary imaging market. However, lack of veterinary infrastructure facilities in underdeveloped countries hinder the market growth. On the other hand, untapped potential in emerging economies create new opportunities in the market.

The instrument segment to maintain its dominant position during the forecast period

Based on product, the instrument segment held nearly two-thirds of the total market share of the global veterinary imaging market in 2018, and is estimated to maintain its dominant position during the forecast period. Moreover, this segment is estimated to witness the fastest CAGR of 7.0% from 2019 to 2026. This is attributed to technological advanced instruments, rise in animal healthcare spending in developing nations, surge in adoption of imaging systems, and ease in accessibility. On the other hand, the research also analyses the segments including reagents and others.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 (𝟐𝟎𝟎 𝐏𝐚𝐠𝐞𝐬 𝐏𝐃𝐅 𝐰𝐢𝐭𝐡 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬, 𝐂𝐡𝐚𝐫𝐭𝐬, 𝐓𝐚𝐛𝐥𝐞𝐬, 𝐚𝐧𝐝 𝐅𝐢𝐠𝐮𝐫𝐞𝐬): https://www.alliedmarketresearch.com/checkout-final/619bc24fd4e82b7f086e99de753325a9

The companion animals segment to dominate throughout the forecast period

Based on animal type, the companion animals segment contributed to the largest market share in the global veterinary imaging market, accounting for nearly two-thirds of the total share in 2018, and is expected to continue to dominate throughout the forecast period. This is attributed to increase in adoption of companion animals, rise in number of pet insurance purchases, and considerable increase in number of veterinary clinics and physicians. However, the large animals segment is expected to maintain the fastest CAGR of 7.1% from 2019 to 2026. This is due to increase in number of large animal veterinarians, surge in adoption of cattle, and increase in large animal health awareness and expenditure on their welfare.

North America to maintain its lion’s share during the forecast period

Based on region, North America held the largest market share, accounting for nearly half of the global veterinary imaging market in 2019, and will maintain its lion’s share during the forecast period. This is attributed to presence of advanced veterinary imaging facilities and skilled veterinary professionals, availability of veterinary hospitals, and rise in demand for advanced imaging systems. However, Asia-Pacific is expected to witness the largest CAGR of 8.1% from 2019 to 2026, owing to development in veterinary facility, improvement in animal health awareness, and increase in number of veterinary clinics & hospitals equipped with advanced medical facilities

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Veterinary Imaging Market Key Players:

• Agfa-Gevaert N.V.
• Esaote SpA
• Fujifilm holdings corp. (Sonosite, Inc.)
• General Electric (GE Healthcare)
• IMV Technologies group (IMV imaging)
• IDEXX Laboratories, Inc.
• Mindray Medical International Ltd.
• MinXray, Inc.
• Siemens AG
• Toshiba Corporation (Canon Medical Systems Corporation)

Key Benefits of the Report:

• The study provides an in-depth analysis of the veterinary imaging market size along with the current veterinary imaging market trends and future estimations to elucidate the imminent investment pockets.
• It offers veterinary imaging market analysis from 2018 to 2026, which is expected to enable the stakeholders to capitalize on the prevailing opportunities in the market.
• A comprehensive analysis of all the geographical regions is provided to determine the prevailing opportunities.
• The profiles and growth strategies of the key players are thoroughly analyzed to understand the competitive outlook and global veterinary imaging market growth.

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