The Veterinary Computed Tomography Scanner Market is currently valued at USD 173.7 million in 2022 growing at a steady CAGR of 6.8% through 2033. The market is anticipated to cross the revenue value of USD 355.3 million by 2033.
Emerging trends in the veterinary computed tomography scanner market suggest that the growing demand for pet care and the growing critical diseases amongst animals are the factors that propel the sales of veterinary computed tomography scanners.
An animal CT scan involves a thin cross-section of the head that is known as a tomographic slice. This is examined through a straight ray beam that penetrates more than the radiology and ultrasound tests.
| Attribute | Details |
|---|---|
| Veterinary Computed Tomography Scanner Market Value (2023) | USD 184.2 million |
| Veterinary Computed Tomography Scanner Market Anticipated Value (2033) | USD 355.3 million |
| Veterinary Computed Tomography Scanner Market Projected Growth Rate (2023 to 2033) | 6.8% |
The veterinary computed tomography scanner industry size is likely to witness significant growth owing to factors such as an increased number of CT scans, raising awareness about pet care along with the rising number of veterinary clinics.
The demand for veterinary computed tomography scanner is anticipated to grow as vet practitioners prefer it for better diagnostics. The CT scanners that come with different ray intensity modules are also gaining traction in the market.
However, the high cost of veterinary CT scanner has hindered the growth of veterinary computed tomography scanner industry. COVID-19 and its implications slowed the market performance in the historical period.
Each CT slice is formatted from multiple x-ray exposures captured as the scan completes a 360-degree rotation. It is important for doctors to know the veterinary CT interpretation, and indications for CT imaging so this modality can be incorporated into a case when financially feasible.
As a result, this factor is likely to fuel the sales of veterinary computed tomography scanners.
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The veterinary computed tomography scanner industry is expected to mark a significant growth in the coming few years due to increasing awareness about injuries to small companion animals and large animal populations.
In addition to this, the growing demand for pet insurance with growing animal health expenditure, and rising number of veterinary practitioners who require veterinary CT scanners to understand the anatomy of the animals tend to propel the demand for veterinary computed tomography scanner.
The global market for veterinary computed tomography scanner industry is expected to witness high growth over the forecast period due to increasing incidences of respiratory, neurological diseases in animals.
Innovations, advancements in veterinary CT scanners, and robust recommendations about the significance of veterinary CT scanners, by healthcare bodies, are the other factors that are propelling the sales of veterinary computed tomography scanners.
Furthermore, high growth opportunities for companies who are engaged in the development and marketing of veterinary CT scanner due to large patient pool. Rising inclination toward adoption and petting of animals are also an indirect growth factor for this market.
Non-Government Organizations (NGOs) such as PETA also emphasize veterinary hospitals adopting advanced veterinary CT scanners.
The major factor limiting the growth is the high cost of veterinary computed tomography scanners, which are all deemed to be in high-cost management.
For examining the high-cost management of the restraints, it appears that the majority of veterinary offices are modest in size and operate under stringent financial restrictions. In addition, the delay in paying for the operations has gotten worse. This frequently acts as a barrier to the adoption of veterinary computed tomography scanners by qualified practitioners.
| Region | North America |
|---|---|
| Market Share % (2022) | 34.7% |
North America dominates the global veterinary computed tomography scanner industry due to the rise in healthcare expenditure, and increasing demand for veterinary computed tomography scanners by the end users.
The North America market holds a significant share of 34.7% in the veterinary computed tomography scanner industry. The region-specific demand is rising as more and more people in countries like United States and Canada adopt pets and treat them with care.
| Region | Europe |
|---|---|
| Market Share % (2022) | 30.1% |
With a share of 30.1%, the European veterinary computed tomography scanner industry is growing at a steady CAGR. The Europe veterinary computed tomography scanner industry share is expected to be one of the fastest growing markets due to a large number of animal populations and the increasing number of NGOs who work for animal welfare.
Home pet care units in areas that also deal with the diagnosis procedures of diseases for these animals also propel the sales of veterinary computed tomography scanner in the region.
Startups in the veterinary computed tomography scanner industry are actively putting their efforts to integrate multiple services at a single place.
The integrated pet care programs include the improvement of veterinary practices along with the availability of a one-stop shop for everything, from pet care to emergency medical services like diagnosis procedures and operations.
These procedures include veterinary computed tomography scanning and Animal CT scans.
However, the high manufacturing cost is making it hard for startup owners to invest capital into the business. The increasing sales of veterinary computed tomography scanners aid the overall animal healthcare industry with new developments.
For example, Nestlé purchased a minority position in Independent Vetcare Group, a European veterinary services business, in April 2019. (IVC).
Purina Pet Services, a branch of Nestlé Purina, has also worked with IVC to exchange knowledge and expertise in pet health, nutrition, and scientific innovation, as well as to provide IVC with access to Nestlé Purina goods to assist its veterinarian care.
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Key participants have added cutting-edge technology along with the latest medical technology like highly efficient devices delivering optimum diagnostics capability in veterinary computed tomography scanners.
As the market rises and skyrockets its growth prospects, the competition amongst the key players keeps on increasing, making the market more dynamic.
Recent Developments in the Veterinary Computed Tomography Scanner Market
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 6.8% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Type, Animal Group, Application, End User |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; Asia Pacific excluding Japan; Japan; Middle East and Africa |
| Key Countries Profiled | The United States, Canada, Brazil, Argentina, Germany, The United Kingdom, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, GCC, South Africa |
| Key Companies Profiled | GE Healthcare; Toshiba Medical Systems Corporation; Siemens AG; Koninklijke Philips N.V; Epica Medical Innovations; Samsung Electronics Co. Ltd. (Neurologica Corporation); Hitachi, Ltd.; Animage, LLC; QR S.R.L.; Gin ApS |
| Customization | Available Upon Request |
The veterinary computed tomography scanner market touches a valuation of USD 184.2 million in 2023.
The veterinary computed tomography scanner market is set to achieve a 6.8% CAGR during the forecast period, surpassing USD 355.3 million by 2033.
Given its increasing pet ownership and rising awareness about animal health, North America leads in veterinary computed tomography scanner adoption.
Demand for veterinary CT scanners stems from a surge in animal rehabilitation and the increasing integration of imaging in veterinary practices.
Challenges include cost sensitivity, regulatory compliance, and adapting to evolving imaging technology in the veterinary CT scanner market.
| Market Size (2024E) | USD 5210.7 million |
|---|---|
| Market Projected Size (2034F) | USD 7566.1 million |
| Value CAGR (2024 to 2034) | 3.8% |
| Market Valuation (2023) | USD 1.3 billion |
|---|---|
| Market Valuation (2033) | USD 2.1 billion |
| Market CAGR (2023 to 2033) | 5.3% |
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Veterinary Computed Tomography Scanner Market
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