Veterinary Imaging Instrument Industry To Grow Substantially At A CAGR Of 5.70% From 2022 To 2030

Posted by rahul nikade on February 23rd, 2023

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 the veterinary imaging instrument industry was 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 Report Highlights

The global veterinary X-ray market size was valued at USD 546.96 million in 2021, and it is expected to reach USD 651.76 million by 2026, exhibiting a CAGR of 4.0% CAGR (2022-2030).

• Computed radiography held a dominant share in 2018 due to increasing adoption in animal health practices
• Digital X-ray equipment segment is expected to gain popularity in the coming years owing to user-friendliness and enhanced productivity
• The portable segment is anticipated to witness lucrative CAGR over the forecast period due to increase in awareness about its benefits
• Small companion animals segment dominated the veterinary X-ray market as of 2018 due to increasing pet adoption along with rising awareness & concern among pet owners
• The hospitals and clinics segment held a dominant revenue share owing to rise in patient footfall
• North America accounted for a dominant revenue share as of 2018 due to rise in the number of pets and increase in willingness to pay for their healthcare
• SOUND; IDEXX Laboratories, Inc.; FUJIFILM Holdings America Corporation, Heska Corporation, and Canon Inc. are some of the major players with broad product portfolios and significant regional presence
• Companies are adopting various strategies such as product development, mergers & acquisitions, partnerships, collaborations, and regional expansion to gain a competitive edge in the market.

Access the Global Veterinary Imaging Instrument Industry Data Book, 2022 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competition benchmarking, macro-environmental analyses, and regulatory & technological framework studies

Veterinary MRI Market Report Highlights

The global veterinary MRI market size was valued at USD 205.93 million in 2022, and it is expected to reach USD 360 million by 2030. The market is expected to expand at a lucrative CAGR of 7.38% from 2023 to 2030.

• The small animal type segment held the largest revenue share in 2022. It is also expected to grow the fastest CAGR of about 7% from 2023 to 2030
• Based on solutions, the MRI scanner segment accounted for the largest revenue share of about 40% in 2022. The software & services segment, on the other hand, is expected to grow at a notable CAGR of about 8% during the forecast period
• Shenzhen Basda Medical Apparatus Co., Ltd is a Chinese company that develops, produces, and sells medical imaging, radiotherapy products & digital solutions for human and veterinary health. The company offers a range of products in the veterinary space including ultrasound, CT, MRI, and digital radiography equipment
• The veterinary hospitals end-use segment dominated the market in 2022 with a share of around 50%. The veterinary clinics segment is projected to grow at the fastest CAGR of 8.28% in the coming years
• In August 2021, Rowe Veterinary Referrals in the UK—part of IVC Evidensia Referrals network—installed a brand new 3.0T MRI scanner for diagnosing conditions more efficiently and effectively
• North America held the largest share of about 50% in 2022. Asia Pacific, on the other hand, is expected to grow at the fastest CAGR of about 9% over the forecast period

Veterinary CT Imaging Market Report Highlights

The global veterinary CT imaging market size was estimated at USD 373.03 million in 2022, and it is expected to reach USD 640.9 million by 2030. The market is expected to expand at a CAGR of 7.03% from 2023 to 2030.

• The veterinary CT Imaging market was valued at USD 373.03 Million in 2022. It is further projected to attain a CAGR of 7.03% during the forecast period.
• The equipment segment is expected to dominate the market by solutions with the highest revenue share of over 45% in 2022. Several veterinary practices are now installing multi-slice CT scanners to diagnose animals of all sizes and shapes, owing to its rapid scanning process.
• The small animal segment dominated the market by animal type in 2022 and generated the largest revenue share of over 55%. Growing pet adoption and ownership rates in developed countries have simultaneously increased the willingness of people to spend more on their pet’s healthcare.
• The orthopedic & traumatology segment dominated the market by application in 2022 and generated the largest revenue share of over 30%. In cases of acute or chronic trauma, particularly injuries with anatomic areas such as the limb bones, or pelvis region of animals, CT scans have been considered a standard imaging method.
• With a revenue share of over 45% in 2022, the veterinary hospitals & clinics segment dominated the market by end-use owing to their timely diagnosis, allowing patients to receive treatment as soon as possible.
• North America dominated the global veterinary CT imaging market and registered the largest revenue share of over 38% in 2022. This is due to the region’s high per capita animal healthcare spending and a large number of pet ownership rates.

Order your copy of the Free Sample of “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 Research’s 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 the table of content of Veterinary Imaging Instrument Industry Data Book to 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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