Product Code: GVR-2-68038-020-0
Veterinary Imaging Market Growth & Trends:
The global veterinary imaging market size is projected to reach USD 2.9 billion by 2030, registering a CAGR of 7.01% over the forecast period, according to a new report by Grand View Research, Inc. The market growth can be attributed to the rising penetration of diagnostic imaging technology in therapeutic applications in pets and livestock animals. Moreover, rising pet ownership and humanization, rising incidence of zoonotic disease in animals, increased focus on preventive healthcare, advancements in technology, and rising awareness and education.
The increasing trend of pet humanization and ownership across different countries has led to a rise in pet insurance enrollment rates across the globe. Radiography is one of the most common diagnostic tests covered by pet insurance. Thus, growing adoption of pet insurance and increasing awareness of the various diagnostic & treatment options available for pets are some of the factors driving the market growth. For instance, as per North American Pet Health Insurance Association (NAPHIA) data published in 2023, the overall number of pets insured by the end of 2023 in the U.S. was 5.36 million. This reflects an increase in several diagnostic imaging performed on pets in veterinary hospitals across the U.S.
In addition, an increase in product launches for small animal diagnostic imaging is expected to drive the segment growth. For instance, in June 2023, Sunset Vet introduced the first Veterinary Computed Tomography (CT) service in Indonesia, aiming to revolutionize small animal veterinary imaging. With advanced technology, including high-resolution imaging and rapid, noninvasive procedures, Sunset Vet offers precise diagnoses and tailored treatment plans. Similarly, in June 2023, iCRco, Inc. installed its CLARIS V Cone Beam Computed Tomography (CBCT) imaging device at the Santa Barbara Zoo, marking its 4th anniversary. This advanced technology facilitates precise 3D imaging of exotic animals, enhancing veterinary care through noninvasive and efficient diagnosis. The collaboration underscores the zoo's commitment to leveraging cutting-edge veterinary imaging solutions for the welfare of small animals.
Veterinary Imaging Market Report Highlights:
- In terms of product, the X-ray segment held the largest revenue share of 37.54% in 2023. X-ray is one of the most common diagnostic tests covered by pet insurance. Thus, rising pet insurance adoption and increased awareness of the various radiographic imaging solutions available for pets are contributing to segment growth.
- In 2023, the small animals segment accounted for the largest share of the market by animal type and is expected to witness the fastest CAGR over the forecast period due to an increase in pet population, growing adoption of pet insurance, and increasing product launches.
- Based on solution, the equipment segment dominated the global market with a share of 55.65% in 2023. On the other hand, the PACS segment is expected to witness the fastest CAGR over the forecast period.
- Based on application, the Orthopedics and Traumatology segment dominated the global market with a share of 37.70% in 2023. On the other hand, the oncology segment is expected to witness the fastest CAGR over the forecast period.
- Based on end use, the veterinary hospitals & clinics segment dominated the global market with a share of 64.86% in 2023 and is expected to witness the fastest CAGR over the forecast period.
- The North America region dominated the global market with a share of 40.84% in 2023. North America has a highly developed veterinary healthcare infrastructure with numerous clinics, hospitals, and specialty centers equipped with advanced diagnostic and treatment capabilities. This advanced infrastructure enables veterinarians to diagnose and manage conditions like joint diseases (such as osteoarthritis) and ligament injuries in animals more effectively, leading to a higher demand for veterinary imaging.
- Asia Pacific is expected to witness the fastest CAGR over the forecast period due to growing pet ownership rates, increasing awareness of veterinary imaging services, and growing strategic activities between key players to expand geographic footprints.
Table of Contents
Chapter 1 Methodology and Scope
- 1.1 Market Segmentation and Scope
- 1.1.1 Regional Scope
- 1.1.2 Estimates And Forecast Timeline
- 1.2 Research Methodology
- 1.3 Information Procurement
- 1.3.1 Purchased Database:
- 1.3.2 GVR's Internal Database
- 1.3.3 Secondary Sources
- 1.3.4 Primary Research
- 1.4 Information/Data Analysis
- 1.4.1 Information Analysis
- 1.5 Market Formulation & Visualization
- 1.6 Data Validation & Publishing
- 1.7 Model Details
- 1.7.1 Approach 1: Commodity Flow Analysis Hybrid Approach
- 1.7.1.1 Commodity Flow Analysis & Top-Down Estimation Model
- 1.7.2 Global Market: CAGR Calculation
- 1.7.3 Approach 2: Parent Market Analysis
- 1.8 List of Secondary Sources
Chapter 2 Executive Summary
- 2.1 Market Snapshot
- 2.2 Segment Snapshot
- 2.3 Competitive Landscape Snapshot
Chapter 3 Industry Outlook
- 3.1 Market Lineage Outlook
- 3.1.1 Parent Market Outlook
- 3.1.2 Ancillary Market Analysis
- 3.2 Veterinary Imaging Market Dynamics
- 3.2.1 Market Driver Impact Analysis
- 3.2.1.1 Increasing prevalence of zoonotic diseases
- 3.2.1.2 Rising number of pet owners
- 3.2.1.3 Rising Adoption of Pet Insurance
- 3.2.1.4 Rapid technological advancements
- 3.2.2 Market Restraint Impact Analysis
- 3.2.2.1 High Cost of Devices
- 3.2.2.2 Lack of Skilled Veterinarians
- 3.2.3 Market Opportunity Analysis
- 3.2.4 Market Challenge Analysis
- 3.3 Veterinary Imaging Market: Porter's 5 Forces Analysis
- 3.3.1 Bargaining Power of Buyers: Moderate
- 3.3.2 Bargaining Power of Suppliers: Low
- 3.3.3 Threat of New Entrants: Low
- 3.3.4 Threat of Substitutes: Low To Moderate
- 3.3.5 Competitive Rivalry: High
- 3.4 Veterinary Imaging Market: PESTEL Analysis
- 3.4.1 Political & Legal Landscape
- 3.4.2 Economic & Social Landscape
- 3.4.3 Technological Landscape
- 3.4.4 Environmental Landscape
- 3.5 Regulatory & Reimbursement Landscape
- 3.5.1 Regulatory Framework In U.S.
- 3.5.2 Regulatory Framework In Europe
- 3.5.3 Reimbursement Landscape
- 3.6 Pricing Analysis
- 3.7 COVID-19 Impact Analysis
Chapter 4 Product Estimates & Trend Analysis, 2018 - 2030 (USD Million)
- 4.1 Veterinary Imaging Market by Product: Key Takeaways
- 4.2 Product Movement Analysis & Market Share, 2023 & 2030
- 4.3 Veterinary Imaging Market Estimates & Forecast, by Product (USD Million)
- 4.4 X-ray
- 4.4.1 X-Ray Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 4.5 Ultrasound
- 4.5.1 Ultrasound Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 4.6 MRI
- 4.6.1 Mri Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 4.7 CT Imaging
- 4.7.1 CT Imaging Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 4.8 Video Endoscopy
- 4.8.1 Video Endoscopy Market Estimates And Forecasts, 2018 - 2030 (USD Million)
Chapter 5 Solutions Estimates & Trend Analysis, 2018 - 2030 (USD Million)
- 5.1 Veterinary Imaging Market by Solutions: Key Takeaways
- 5.2 Solutions Movement Analysis & Market Share, 2023 & 2030
- 5.3 Veterinary Imaging Market Estimates & Forecast, by Solutions (USD Million)
- 5.4 Equipment
- 5.4.1 Equipment Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 5.5 Accessories/Consumables
- 5.5.1 Accessories/Consumables Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 5.6 PACS
- 5.6.1 PACS Market Estimates And Forecasts, 2018 - 2030 (USD Million)
Chapter 6 Animal Type Estimates & Trend Analysis, 2018 - 2030 (USD Million)
- 6.1 Veterinary Imaging Market by Animal Type: Key Takeaways
- 6.2 Animal Type Movement Analysis & Market Share, 2023 & 2030
- 6.3 Veterinary Imaging Market Estimates & Forecast, by Animal Type (USD Million)
- 6.4 Small Animals
- 6.4.1 Small Animals Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 6.5 Large Animals
- 6.5.1 Large Animals Market Estimates And Forecasts, 2018 - 2030 (USD Million)
Chapter 7. Application Estimates & Trend Analysis, 2018 - 2030 (USD Million)
- 7.1 Veterinary Imaging Market By Application: Key Takeaways
- 7.2 Application Movement Analysis & Market Share, 2023 & 2030
- 7.3 Veterinary Imaging Market Estimates & Forecast, By Application (USD Million)
- 7.4 Orthopedics And Traumatology
- 7.4.1 Orthopedics And Traumatology Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 7.5 Oncology
- 7.5.1 Oncology Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 7.6 Cardiology
- 7.6.1 Cardiology Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 7.7 Neurology
- 7.7.1 Neurology Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 7.8 Respiratory
- 7.8.1 Respiratory Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 7.9 Dental Application
- 7.9.1 Dental Application Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 7.10 Other Application
- 7.10.1 Other Application Market Estimates And Forecasts, 2018 - 2030 (USD Million)
Chapter 8 End-use Estimates & Trend Analysis, 2018 - 2030 (USD Million)
- 8.1 Veterinary Imaging Market by End Use: Key Takeaways
- 8.2 End-use Movement Analysis & Market Share, 2023 & 2030
- 8.3 Veterinary Imaging Market Estimates & Forecast, by End Use (USD Million)
- 8.4 Veterinary Clinics & Hospitals
- 8.4.1 Veterinary Clinics & Hospitals Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.5 Other End Use
- 8.5.1 Other End-Use Market Estimates And Forecasts, 2018 - 2030 (USD Million)
Chapter 9 Regional Estimates & Trend Analysis, 2018 - 2030 (USD Million)
- 9.1 Regional Outlook
- 9.2 Regional Market Share Analysis, 2023 & 2030
- 9.3 Regional Marketplace, Key Takeaways
- 9.4 Regional Marketplace, Key Takeaways
- 9.5 Regional Marketplace, Key Takeaways
- 9.6 North America
- 9.6.1 Swot Analysis:
- 9.6.2 North America Veterinary Imaging Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 9.6.3 U.S.
- 9.6.3.1 Key Country Dynamics
- 9.6.3.2 U.S. Veterinary Imaging Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 9.6.4 Canada
- 9.6.4.1 Key Country Dynamics
- 9.6.4.2 Canada Veterinary Imaging Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 9.7 Europe
- 9.7.1 Swot Analysis:
- 9.7.2 Europe Veterinary Imaging Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 9.7.3 UK
- 9.7.3.1 Key Country Dynamics
- 9.7.3.2 UK Veterinary Imaging market estimates and forecasts, 2018 - 2030 (USD Million)
- 9.7.4 Germany
- 9.7.4.1 Key Country Dynamics
- 9.7.4.2 Germany Veterinary Imaging Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 9.7.5 France
- 9.7.5.1 Key Country Dynamics
- 9.7.5.2 France Veterinary Imaging Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 9.7.6 Italy
- 9.7.6.1 Key Country Dynamics
- 9.7.6.2 Italy Veterinary Imaging Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 9.7.7 Spain
- 9.7.7.1 Key Country Dynamics
- 9.7.7.2 Spain Veterinary Imaging Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 9.7.8 Denmark
- 9.7.8.1 Key Country Dynamics
- 9.7.8.2 Denmark Veterinary Imaging Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 9.7.9 Netherlands
- 9.7.9.1 Key Country Dynamics
- 9.7.9.2 Netherlands Veterinary Imaging Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 9.7.10 Sweden
- 9.7.10.1 Key Country Dynamics
- 9.7.10.2 Sweden Veterinary Imaging Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 9.7.11 Norway
- 9.7.11.1 Key Country Dynamics
- 9.7.11.2 Norway Veterinary Imaging Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 9.7.12 Poland
- 9.7.12.1 Key Country Dynamics
- 9.7.12.2 Poland Veterinary Imaging Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 9.8 Asia Pacific
- 9.8.1 Swot Analysis
- 9.8.2 Asia Pacific Veterinary Imaging Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 9.8.3 China
- 9.8.3.1 Key Country Dynamics
- 9.8.3.2 China Veterinary Imaging Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 9.8.4 Japan
- 9.8.4.1 Key Country Dynamics
- 9.8.4.2 Japan Veterinary Imaging Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 9.8.5 India
- 9.8.5.1 Key Country Dynamics
- 9.8.5.2 India Veterinary Imaging Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 9.8.6 Australia
- 9.8.6.1 Key Country Dynamics
- 9.8.6.2 Australia Veterinary Imaging Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 9.8.7 South Korea
- 9.8.7.1 Key Country Dynamics
- 9.8.7.2 South Korea Veterinary Imaging Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 9.8.8 Thailand
- 9.8.8.1 Key Country Dynamics
- 9.8.8.2 Thailand Veterinary Imaging Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 9.9 Latin America
- 9.9.1 Swot Analysis
- 9.9.2 Latin America Veterinary Imaging Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 9.9.3 Brazil
- 9.9.3.1 Key Country Dynamics
- 9.9.3.2 Brazil Veterinary Imaging Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 9.9.4 Mexico
- 9.9.4.1 Key Country Dynamics
- 9.9.4.2 Mexico Veterinary Imaging Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 9.9.5 Argentina
- 9.9.5.1 Key Country Dynamics
- 9.9.5.2 Argentina Veterinary Imaging market estimates and forecasts, 2018 - 2030 (USD Million)
- 9.10 MEA
- 9.10.1 Swot Analysis:
- 9.10.2 MEA Veterinary Imaging Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 9.10.3 South Africa
- 9.10.3.1 Key Country Dynamics
- 9.10.3.2 South Africa Veterinary Imaging Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 9.10.4 Saudi Arabia
- 9.10.4.1 Key Country Dynamics
- 9.10.4.2 Saudi Arabia Veterinary Imaging Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 9.10.5 UAE
- 9.10.5.1 Key Country Dynamics
- 9.10.5.2 UAE Veterinary Imaging Market Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 10. Competitive Landscape
- 10.1 Participants' Overview
- 10.2 Financial Performance
- 10.3 Product Benchmarking
- 10.4 Market Position Analysis, 2023 (Heat Map Analysis)
- 10.5 Strategy Mapping
- 10.5.1 Mergers And Acquisitions
- 10.5.2 Launch
- 10.5.3 Partnerships & Collaborations
- 10.5.4 Expansion
- 10.5.5 Others
- 10.6 Company Profiles
- 10.6.1 IDEXX Laboratories, Inc.
- 10.6.1.1 Participant's Overview
- 10.6.1.2. Financial Performance
- 10.6.1.3. Product Benchmarking
- 10.6.1.4. Strategic Initiatives
- 10.6.2 ESAOTE SPA
- 10.6.2.1 Participant's Overview
- 10.6.2.2. Financial Performance
- 10.6.2.3. Product Benchmarking
- 10.6.2.4. Strategic Initiatives
- 10.6.3 Mars, Inc.
- 10.6.3.1 Participant's Overview
- 10.6.3.2. Financial Performance
- 10.6.3.3. Product Benchmarking
- 10.6.3.4. Strategic Initiatives
- 10.6.4 GE HealthCare
- 10.6.4.1 Participant's Overview
- 10.6.4.2. Financial Performance
- 10.6.4.3. Product Benchmarking
- 10.6.4.4. Strategic Initiatives
- 10.6.5 Midmark Corporation
- 10.6.5.1 Participant's Overview
- 10.6.5.2. Financial Performance
- 10.6.5.3. Product Benchmarking
- 10.6.5.4. Strategic Initiatives
- 10.6.6 FUJIFILM Holdings America Corporation
- 10.6.6.1 Participant's Overview
- 10.6.6.2. Financial Performance
- 10.6.6.3. Product Benchmarking
- 10.6.6.4. Strategic Initiatives
- 10.6.7 Hallmarq Veterinary Imaging
- 10.6.7.1 Participant's Overview
- 10.6.7.2. Financial Performance
- 10.6.7.3. Product Benchmarking
- 10.6.7.4. Strategic Initiatives
- 10.6.8 Canon Medical Systems Corporation
- 10.6.8.1 Participant's Overview
- 10.6.8.2. Financial Performance
- 10.6.8.3. Product Benchmarking
- 10.6.8.4. Strategic Initiatives
- 10.6.9 Shenzhen Mindray Animal Medical Technology Co., Ltd.
- 10.6.9.1 Participant's Overview
- 10.6.9.2. Financial Performance
- 10.6.9.3. Product Benchmarking
- 10.6.9.4. Strategic Initiatives
- 10.6.10 IMV Imaging
- 10.6.10.1 Participant's Overview
- 10.6.10.2. Financial Performance
- 10.6.10.3. Product Benchmarking
- 10.6.10.4. Strategic Initiatives
- 10.7 List of Other Key Market Players
Chapter 11. Key Takeaways