How Has the Veterinary Imaging Equipment Market Size Evolved in Recent Years?
The veterinary imaging equipment market has seen considerable growth due to a variety of factors.
• There has been a robust expansion in the market size of veterinary imaging equipment in the past few years. The market is projected to swell from $1.99 billion in 2024 to $2.1 billion in 2025, marking a compound annual growth rate (CAGR) of 6.0%.
The historical growth can be accredited to factors such as a surge in pet adoption, commonness of veterinary ailments, proliferation of veterinary services, escalation in animal health spending, and an increase in understanding and knowledge about the field.
What Does the Future Hold for the Veterinary Imaging Equipment Market?
The veterinary imaging equipment market is expected to maintain its strong growth trajectory in upcoming years.
• The market for veterinary imaging equipment is poised to experience robust expansion in upcoming years, reaching a valuation of $2.76 billion in 2029 by growing at a compound annual growth rate (CAGR) of 7.0%.
This projected growth within the forecast period can be attributed to the surging demand for specialty services in veterinary, telemedicine, remote imaging, the globalization of veterinary services, a shift towards preventive care, and increased research in the realm of veterinary imaging. The forecast period will also see significant trends like advancements in imaging technologies, an emphasis on point-of-care imaging, the incorporation of artificial intelligence (AI), specialized imaging for rare animals, telemedicine, and remote imaging consultations.
What Are the Critical Driver Fuelling the Veterinary Imaging Equipment Market's Growth?
Expected growth in livestock numbers is likely to stimulate the veterinary imaging equipment market. The rising numbers of livestock and related diseases are predicted to increase the need for veterinary medical apparatus, including those used specifically for imaging, to diagnose and treat diverse diseases in animals. For example, the Food and Agricultural Organization of the United Nations has projected that the worldwide cattle population will rise to 2.6 billion by 2050, while the global population of goats and sheep is forecasted to reach 2.7 billion by that same year. Therefore, this surge in livestock populations is likely to accelerate the demand for veterinary imaging equipment in the coming years.
What Are The Primary Segments In The Global Veterinary Imaging Equipment Market?
The veterinary imaging equipment market covered in this report is segmented –
1) By Type: Radiography (X-Ray) System, Ultrasound Imaging System, Computed Tomography Imaging System, Video Endoscopy Imaging System, Magnetic Resonance Imaging System, Other Types
2) By Animal Type: Small Companion Animals, Large Animals, Other Animal Types
3) By Modality: Portable, Stationery
4) By Application: Orthopedics And Traumatology, Oncology, Cardiology, Neurology, Other Applications
5) By End User: Veterinary Hospitals, Veterinary Clinics, Academic And Research Organizations, Other End Users
Subsegments:
1) By Radiography (X-Ray) System: Digital X-Ray Systems, Portable X-Ray Systems, Analog X-Ray Systems
2) By Ultrasound Imaging System: 2D Ultrasound Systems, 3D/4D Ultrasound Systems, Doppler Ultrasound Systems
3) By Computed Tomography Imaging System: Standard CT Scanners, Cone Beam CT Scanners
4) By Video Endoscopy Imaging System: Rigid Endoscopes, Flexible Endoscopes, Video Bronchoscopy Systems
5) By Magnetic Resonance Imaging System: Open MRI Systems, Closed MRI Systems
6) By Other Types: Fluoroscopy Systems, Nuclear Medicine Imaging Systems, Thermography Systems
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Which Key Trends Are Driving Changes In The Veterinary Imaging Equipment Market Size?
The veterinary imaging equipment market is seeing a surge in the development and launch of portable or wireless devices by key players, posing to be a significant trend in this sphere. Such devices offer improved possibilities for efficient veterinary technologies. Planmed, a Finland-based firm renowned for designing and manufacturing imaging systems, introduced Planmed Verity VET in September 2022. It is a high-definition CT scanner exclusively designed for veterinary 3D imaging and can easily be used as a standalone device. Its advanced features enable detailed imaging of animal skeletal structures like the teeth, skull, and extremities with remarkable submillimeter-resolution 3D visuals. These highly accurate volumetric images provide a reliable diagnosis and allow for precise treatment planning. Furthermore, the portability and compact size of the Planmed Verity VET scanner offer easy access to 3D imaging whenever needed, making it feasible to bring the scanner directly to the patient.
Who Are the Key Players in the Veterinary Imaging Equipment Market?
Major companies operating in the veterinary imaging equipment market include:
• Siemens AG
• General Electric Healthcare
• Canon Inc.
• Toshiba Corp.
• Fujifilm Holdings Corporation
• Covetrus Inc.
• Shenzhen Mindray Bio-Medical Electronics Co. Ltd.
• Mindray Medical International Limited
• IDEXX Laboratories Inc.
• Agfa-Gevaert N.V.
• Carestream Health Inc.
• Midmark Corporation
• Esaote S.P.A
• Sedecal USA Inc.
• Chison Medical Imaging Co.Ltd.
• Digicare Biomedical Technology Inc.
• DRE Veterinary Inc.
• Vetland Medical Sales and Services LLC
• Hallmarq Veterinary Imaging Ltd.
• MinXray Inc.
• Diagnostic Imaging Systems Inc.
• BCF Technology Ltd.
• Vetronic Services Ltd.
What Is The Most Dominant Region In The Veterinary Imaging Equipment Market?
North America was the largest region in the veterinary imaging equipment market in 2024. Asia-Pacific was the second-largest region in the global veterinary imaging equipment market share. The regions covered in the veterinary imaging equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
