The veterinary imaging market is rapidly growing due to the increasing demand for diagnostic imaging for animals. Veterinary imaging is quickly becoming an essential component of animal healthcare, allowing veterinarians to detect and diagnose various diseases and health conditions in pets. Veterinary imaging can be used to assess a wide range of issues from cancer diagnosis to trauma imaging.
Currently, Veterinary Imaging Market is expected to reach USD 2.3 billion by 2026 from an estimated USD 1.6 billion in 2021, at a CAGR of 7.0% during the forecast period. Veterinary diagnostic imaging is a non-invasive technique, and it involves the process of creating visual representations of the interior of an animal’s body for clinical analysis, medical intervention, and the visual representation of the function of some organs or tissues. The veterinary imaging market includes different modalities which are used to create images along with reagents (contrast agents) and imaging software.
Veterinary imaging technology is becoming increasingly sophisticated and includes various modalities such as X-ray, ultrasound, computed tomography (CT), and magnetic resonance imaging (MRI). X-ray is the most commonly used modality in veterinary medicine, but newer modalities such as ultrasound, CT, and MRI are becoming increasingly popular due to their ability to provide detailed images of the internal organs.
The increasing demand for advanced imaging technology has driven the growth of the veterinary imaging market. Veterinary imaging has become a necessity for veterinarians to diagnose and treat a variety of health conditions in animals. Additionally, the availability of new technologies and the ease of use has made veterinary imaging more accessible and affordable.
The growing prevalence of pet ownership has also been a major factor in the growth of the veterinary imaging market. As more people adopt pets, the demand for advanced imaging technology for diagnosis and treatment of various health conditions in animals is increasing. Additionally, the growing demand for pet healthcare has encouraged the development of new veterinary imaging technologies.
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The increasing demand for veterinary imaging is expected to drive the growth of the veterinary imaging market in the coming years. The market is expected to benefit from the increasing demand for advanced imaging technology, the growing prevalence of pet ownership, and the development of new technologies.
Market Growth Drivers
- Increasing rate of companion animal population
Market Growth Opportunities
- Untapped emerging markets
Market Report Segmentation
Product, Therapeutic Area, Animal, End-User, and Region & Global Level
The prominent players in the veterinary imaging market are GE Healthcare (US), Agfa-Gevaert N.V. (Belgium), Carestream Health (US), Esaote S.p.A (Italy), IDEXX Laboratories, Inc. (US), Mindray Medical International Limited (China), Canon Inc. (Japan), Heska Corporation (US), Siemens Healthineers (Germany), FUJIFILM Holdings Corporation (Japan), Konica Minolta Inc. (Japan), Samsung Electronics Co., Ltd. (South Korea), E.I. Medical Imaging (US), IMV imaging (UK), SEDECAL (Spain). Other players in the veterinary imaging market are Clarius Mobile Health (Canada), Shenzhen Ricso Technology Co. Ltd. (China), DRAMIÑSKI S.A. (Poland), Epica Animal Health (US), and ClearVet Digital Radiography Systems (US), MinXray Inc. (US), Hallmarq Veterinary Imaging (UK), Shantou Institute of Ultrasonic Instruments Co., Ltd (China), Sonoscape Medical Corp. (China), and Reproscan (US).
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Recent Developments
- In September 2021, Canon Inc. (Japan) has announced an agreement with Redlen Technologies Inc (Canada) to make Redlen a wholly-owned subsidiary. Canon will obtain advanced radiation detection and imaging technology to accelerate the development of Photon Counting CT systems to strengthen the Medical Systems Business.
- In September 2021, Heska Corporation (US) announced that the company had acquired majority ownership of Biotech Laboratories USA LLC which will increase the company’s owned global products line and intellectual property portfolio.
- In August 2021, Esaote S. p. A (Italy) North America Announced a three-year contract with Magnet Group, which provides Magnet Group (US) members full access to Esaote North Americas Comprehensive imaging portfolio and services. This partnership helped Esaote to increase its customer base and reach
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