How Has The Veterinary Diagnostic Imaging Market Size Evolved In Recent Years?
The veterinary diagnostic imaging market has seen considerable growth due to a variety of factors.
• In the past few years, there has been a robust growth in the veterinary diagnostic imaging market. The market value is predicted to expand from $2.20 billion in 2024 to $2.37 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 8.0%.
This solid growth during the historical period can be ascribed to factors such as surge in pet ownership, enhanced consciousness about animal health care, mounting demand for pet insurance, and an increased emphasis on preventive healthcare, coupled with a growing number of veterinary practices.
What Are The Predictions for The Veterinary Diagnostic Imaging Market Size In The Coming Years?
The veterinary diagnostic imaging market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for veterinary diagnostic imaging is predicted to experience significant expansion in the coming years, surging to $3.19 billion in 2029 with a compound annual growth rate (CAGR) of 7.7%.
This predicted increase over the forecast period is tied to a growing animal population, heightened understanding of animal wellbeing, the widespread use of telemedicine in veterinary treatment, advancements in livestock production, along with an escalating demand for improved diagnostic precision. New trends throughout this period will centre on the progression of diagnostic technologies, swift advancements in imaging machinery, the utilisation of artificial intelligence AI in veterinary diagnoses, machine learning integration in diagnostic instruments, and the advancement of magnetic resonance imaging (MRI) systems.
What Are The Key Drivers Fueling Growth In The Veterinary Diagnostic Imaging Market?
The expansion of the veterinary diagnostic imaging market is anticipated due to the surging animal populations. Factors contributing to this increase in animal populations include the rise in pet ownership, improved healthcare for animals, and a growing need for livestock, all of which contribute to better food security, sustainable farming, and enhanced bonds between humans and animals. Veterinary diagnostic imaging plays a key role in managing animal populations, as it offers accurate diagnostics, enhances treatment results, and keeps track of health conditions, ultimately improving the quality of animal care and well-being. As an example, the American Veterinary Medical Association, a non-profit organization based in the U.S, reported in November 2024, that the U.S. saw an increase in the dog population from 53.4 million in 2023 to 59.8 million in 2024. As such, the growing number of animals is fuelling the growth of the veterinary diagnostic imaging market.
What Are The Core Segments Of The Globa Veterinary Diagnostic Imaging Market?
The veterinary diagnostic imaging market covered in this report is segmented –
1) By Product: Instrument, Reagent, Services, Veterinary PACS
2) By Animal Type: Small Animals, Large Animals
3) By Equipment: Radiography (X-ray) Systems, Ultrasound Imaging Systems, Computed Tomography Imaging Systems, Magnetic Resonance Imaging Systems, Video Endoscopy Imaging Systems, Other Equipments
4) By Application: Orthopaedics And Traumatology, Oncology, Cardiology
5) By End-User: Veterinary Hospitals, Academic And Research Institutes, Other End User
Subsegments:
1) By Instrument: X-ray Imaging Systems, Ultrasound Imaging Systems, MRI Systems, CT Scanners, Endoscopy Equipment
2) By Reagent: Contrast Agents (Ultrasound, MRI, CT), Blood Test Reagents, Biochemical Reagents
3) By Services: Diagnostic Imaging Services, Image Interpretation Services, Veterinary Imaging Consulting Services
4) By Veterinary PACS (Picture Archiving And Communication System): On-Premise PACS, Cloud-Based PACS
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Which Emerging Trends Are Reshaping The Veterinary Diagnostic Imaging Market?
Leading corporations in the veterinary diagnostic imaging market are concentrating on creating innovative products, like AI-enabled veterinary X-ray interpretation, to boost diagnostic accuracy, decrease the duration it takes to produce results, and upgrade the standard care within veterinary practices. The term AI-Enabled Veterinary X-ray Interpretation is the deployment of artificial intelligence and machine learning skills to aid vets in interpreting animal radiographic images (X-rays). This innovative technology amplifies diagnostic precision, quickens decision-making, and alleviates the workload on veterinary experts by automating the identification of abnormalities and generating comprehensive analyses. For example, in January 2024, SignalPET LLC, a company based in the US that provides AI-driven solutions for managing veterinary practice, introduced SignalSTAT- an AI-powered veterinary X-ray interpretation tool that delivers quick, precise evaluations with expert guidance, assuring a reliable 45-minute turnaround time, 24/7. It merges state-of-the-art AI tech with human competence, enabling speedy and accurate interpretation of veterinary X-rays. This amalgamation ensures critical cases are managed effectively, thus drastically diminishing the duration needed for diagnosis. The technology is constructed on perpetually evolving machine-learning algorithms that get better as they are utilized by vets worldwide.
Who Are the Key Players in the Veterinary Diagnostic Imaging Market?
Major companies operating in the veterinary diagnostic imaging market are include:
• Siemens Healthineers AG
• General Electric Company
• Fujifilm Holdings Corporation
• Konica Minolta Inc
• VCA Inc
• Covetrus Inc.
• IDEXX Laboratories Inc.
• Shenzhen Mindray Bio-Medl Elctrnc Co Ltd
• Agfa-Gevaert NV
• Carestream Health Inc
• CVS Limited
• Esaote SPA
• Canon Medical Systems Corporation
• MXR Imaging Inc
• Sound Technologies Inc
• Heska Corporation
• Universal Medical Systems
• Inc.
• Clarius Mobile Health Corp.
• IMV Imaging
• Epica Animal Health
• Hallmarq Veterinary Imaging Ltd.
What are the Regional Insights into the Veterinary Diagnostic Imaging Market?
North America was the largest region in the veterinary diagnostic imaging market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the veterinary diagnostic imaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
