Veterinary Imaging Market Size Is Projected To Reach $3.3 Billion By 2026

The global veterinary Imaging market size is expected to reach USD 3.3 billion by 2026, according to a new report by Grand View Research, Inc.expanding at a CAGR of 6.8% over the forecast period.The veterinary medicine field experienced immense technological developments in the last 20 years. Various technologies of human medical practice are being adopted for diagnosis and treatment of animals. Advancements in technologies are expected to fuel growth. For instance, launch of portable imaging equipment with battery charge is propelling the adoption of these systems in the following years.

Magnetic resonance imaging (MRI) and ultrasound analysis are some of the advanced technologies. MRIs are effective in the prognosis of human neurological disorders. These days, veterinarians are using MRIs for the examination of animal brains. This technology also helps in diagnosing soft tissues and orthopedic structure of an animal’s body. MRI has applications in cardiology for studying heart diseases.

Imaging devices help veterinarians and technicians in the diagnosis and management of zoonotic diseases. These instruments also assist in the diagnosis of injuries. Increasing adoption of advanced technologies coupled with growing awareness about animal health are some of the factors expected to propel market growth in the coming years. For example, University of Pennsylvania’s School of Veterinary Medicine was the first to use EQUIMAGINE, a diagnostic tool for horses. This device has 2 imaging C-arms that help in scanning all body parts of a horse. It also captures 2D CT images. This system is also currently being used in the diagnosis of diseases that affect horses.

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Further Key Findings From the Study Suggest:

• Increasing demand for minimally invasive diagnostic tools to reduce mortality and morbidity is anticipated to fuel the market growth.
• Instruments held the dominant share owing to their increasing adoption in reference laboratories and other animal healthcare facilities
• The MRI segment is expected to witness lucrative growth in the coming years owing to rising awareness about their benefits in animal disease diagnosis
• Multi-slice CT scan systems are anticipated to gain popularity over the forecast period
• Small companion animals held the dominant share as of 2018 owing to increasing adoption of pets and concern about their well-being
• Veterinary hospitals accounted for the largest revenue share as of 2018 due to increase in adoption of imaging devices in animal health care facilities
• The North America veterinary imaging market held the dominant share as of 2018 owing to increasing number of animal healthcare settings and awareness among pet owners in this region
• Asia Pacific regional industry is expected to grow at a lucrative CAGR owing to increase in the number of veterinary care facilities and investments in animal healthcare
• IDEXX Laboratories, Inc.; SOUND; GE Healthcare; and Toshiba Corporation held the dominant share of the market owing to their wide offerings of technologically advanced products and regional presence
• Competitors are adopting strategies such as launch of new products, mergers & acquisitions, and regional expansion to gain competitive advantage

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Grand View Research has segmented veterinary imaging market on the basis of the product, animal type, application, end use, and region:

Veterinary Imaging Product Outlook (Revenue, USD Million, 2014 - 2026)

• Instrument
• Radiography X-ray

• Direct (Capture) Radiography
• Computed Radiography
• Film-based Radiography
• Ultrasound Imaging
• 2D Ultrasound Imaging
• 3D/4D Ultrasound Imaging
• Doppler Imaging
• MRI
• CT Imaging
• Multi-slice CT
• Single-slice CT
• Video Endoscopy Imaging
• Others
• Reagent
• Ultrasound Contrast Regents
• MRI Contrast Regents
• X-Ray/CT Contrast Reagents
• Nuclear Imaging
• Services
• Interventional Radiology & Endoscopy
• Teleradiology
• Advanced Imaging Services
• Veterinary PACS
• RIS PACS
• CVIS PACS

Veterinary Imaging Animal Type Outlook (Revenue, USD Million, 2014 - 2026)

• Small Companion Animals
• Large Animals
• Others

Veterinary Imaging Application Outlook (Revenue, USD Million, 2014 - 2026)

• Orthopedics and Traumatology
• Oncology
• Cardiology
• Neurology
• Others

Veterinary Imaging End-use Outlook (Revenue, USD Million, 2014 - 2026)

• Hospitals/Clinics
• Reference Laboratories
• Others

Veterinary Imaging Regional Outlook (Revenue, USD Million, 2014 - 2026)

• North America
• U.S.
• Canada
• Europe
• UK
• Germany
• France
• Italy
• Spain
• Asia Pacific
• Japan
• China
• India
• Latin America
• Mexico
• Brazil
• MEA
• South Africa

About Grand View Research        

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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