The veterinary imaging equipment market consists of sales of veterinary imaging equipment by entities (organizations, sole traders and partnerships) that produce veterinary diagnostic equipment used to obtain medical images of animals for diagnosis of various diseases. This industry includes establishments that produce diagnosis equipment such as radiography, X-ray, ultrasound imaging, MRI, CT imaging, endoscopy imaging, and other imaging equipment. These imaging systems are used for cardiology, orthopedics & traumatology, oncology, neurology, and others.
The global veterinary imaging equipment market is expected to decline from $1.61 billion in 2019 to $1.57 billion in 2020 at a compound annual growth rate (CAGR) of -2.50%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $1.99 billion in 2023 at a CAGR of 8.29%.
