Veterinary Imaging Market Insights and Forecast to 2028

Veterinary Imaging Market Outlook - 2028 

Due to the COVID-19 pandemic, the global Veterinary Imaging market is estimated to be worth USD 1793.8 million in 2022 and is forecast to a readjusted size of USD 2390.1 million by 2028 with a CAGR of 4.9% during the review period. It is forecast to be a readjusted size of US$ 2390.1 million by 2028 with a CAGR of 4.9% during the forecast period. Key drivers of the veterinary imaging market include the growing number of veterinary diseases. The increasing transition toward digital X-ray systems will drive the growth of the veterinary imaging market during the forecast period. The rising demand for livestock and companion animals has led to a renewed focus on animal healthcare, which will drive the market's growth in the coming years. 

Veterinary Imaging Market Trends

The emergence of various diseases

The number of zoonotic pathogens is increasing rapidly. This has led to the frequent spread of several outbreaks across the globe. Veterinary imaging products are necessary for early diagnosis. The rates of Cancer, orthopedic disorders, and cardiovascular diseases will drive the expansion of the veterinary imaging market in the upcoming years. Moreover, most of these outbreaks are changing hosts and entering human bodies. Diseases such as Ebola, anthrax, Monkeypox, plague, viral hemorrhagic fever, and dengue fever have become more frequent. The rapid pace of urbanization, industrialization and huge population explosion along with unsustainable farming practices and climate change are some of the major contributing factors. A number of imaging processes have been developed to curb the rate of the disease in animals. Many economies around the world majorly rely on livestock trade and consumption. Hence immediate prevention is the need of the hour for reducing the economic burden on the countries. These imaging tools have been designed in a way to quickly acquire the result without providing any discomfort to the animal. 

Digital X-ray systems

Traditional radiography and X-ray systems take excess time providing stress to owners and their pets. The film processing stage is time-consuming and cannot be modified at all by a vet technician. Computer radiography based on digital X-ray imaging systems is gaining traction. This will fuel the growth of the veterinary imaging market in the forthcoming years. The X-rays are converted into a digital file for easy storage and offer easy manipulation for enhanced viewing results through veterinary management software. It has the ability to take full-body x-rays and deliver sharp and highly accurate images within seconds. The images can be stored on any tablet, smartphone, or computer for instant access. The files are backed up for future access and there are no chances of degradation of quality or damage in the long term. It is much faster to see a CR image as no one likes long vet hospital visits. The images can be improved for quality viewing and better diagnosis. The images can also be measured for accurate detailing of body tissues, heart rate, hip angles, etc. This saves time and frustration as the need for taking multiple retakes is eliminated. Digital radiography has better shades of grey which allows slight detection of radiation in a much faster way. Higher contrast allows seeing the soft tissue and bone detail in a single image thereby drastically reducing the need to take multiple images.  

Increasing pet humanization

Pet parenting is on the rise as more and more people adopt companion animals to form emotional bonds. Pet humanization has extended to other services as well such as pet care, grooming, and food products. The rising levels of urbanization have led to people adopting non-traditional ways of living. They are moving into smaller flats and apartments. Pets are being seen as lifelong companions. This will bolster the growth of the veterinary imaging market during the forecast period.  A new ecosystem has developed involving food, nutrition, healthcare, training, travel, insurance, boarding, and grooming. There are clinical protocols, qualified vets, and in-house teams to help solve all the medical issues of animals. The awareness regarding the importance of veterinary vaccines is also rising. There are animal technicians taking care of pet activities and exercises. 

Technological Innovations

Ultrasonography is a preferred imaging procedure used in veterinary practices. The scan quickly shows the size and shape of the organs and their inherent abnormalities. It is painless, non-invasive, and has no complications. Veterinary management software is gaining widescale penetration. All the medical data and records are stored in the cloud which is easily accessible through any internet-enabled device just at the click of a button. It promotes better collaboration and real-time communication between all the related stakeholders. The data is split and updated in real-time allowing clinicians to get the results from any diagnostic laboratory irrespective of location or time zone. This improves treatment efficiency, cuts time, and eliminates the chances of medical errors. This will foster the growth of the veterinary imaging market in the subsequent years. The servers are cloud-based and there are no requirements for lengthy programs installations, updates, or in-site consultants. This brings down the cost drastically. Magnetic resonance imaging( MRI) and digital radiographs are no longer restricted to human beings. It is being used in the case of animals for thorough assessment and treatment efficiency. Digital dental X-rays are being used to improve digital oral health. 

Veterinary Imaging Market Insights

Based on type, the X-ray technology segment is expected to dominate the veterinary imaging market share as it is the most common imaging procedure for treating various veterinary disorders. The rising income levels, pet adoption rate, and numerous product launches by key players are contributing to the growth. 

Asia-Pacific is expected to register the highest CAGR during the forecast period. Growth in pet adoption, increasing awareness about animal health, and growing per capita animal health expenditure, especially in India and China, are contributing to the growth of the APAC veterinary imaging market.

Veterinary Imaging Market Scope and Segment

Veterinary Imaging market is segmented by Type and by Application. Players, stakeholders, and other participants in the global Veterinary Imaging market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on sales, revenue and forecast by Type and by Application for the period 2017-2028.

Veterinary Imaging Market Segment By Type

• X-ray Technology
• Ultrasound Technology
• Other

Veterinary Imaging Market Segment By Application

• Clinics
• Hospitals and Academic Institutes

By Company

• GE Healthcare
• Excelsior Union Limited
• Onex
• Esaote
• Idexx Laboratories
• VCA
• Hitachi
• Siemens

By Region

• North America
• U.S.
• Canada
• Europe
• Germany
• France
• U.K.
• Italy
• Russia
• Asia-Pacific
• China
• Japan
• South Korea
• India
• Australia
• Taiwan
• Indonesia
• Thailand
• Malaysia
• Philippines
• Vietnam
• Latin America
• Mexico
• Brazil
• Argentina
• Middle East & Africa
• Turkey
• Saudi Arabia
• UAE