The Veterinary Imaging Market is valued at USD 2,272.8 million in 2024. Growing pet ownership and awareness about animal healthcare are fueling the growth trajectory, marking USD 4,306.6 million industry size by 2034.
Revolution in animal and aquatic healthcare has created a breeding ground for this sector which is foreseen to exhibit a CAGR of 6.6% through 2034.
Imaging equipment services like X-ray, MRI, and CT scan machines have created new opportunities for veterinarians to offer precise results. The introduction of portable and wireless imaging devices offers greater flexibility and convenience for veterinarians, marking a prime growth factor in this industry.
Plus, designing specialized technologies for small animals reiterates the importance of these imaging systems. Affluent populations in emerging economies are ready to spend on their pet healthcare services, thus pushing the veterinary imaging market expansion.
Pharmaceutical companies are investing in scientific research to develop contrast agents tailored for veterinary imaging. Companies such as Boehringer Ingelheim and Merck Animal Health are tailoring these contrast agents to acquire the maximum accuracy levels.
The main goal of developing systems for animals is to set the new forefront of animal welfare systems. Developments like these are significantly impacting the adoption of veterinary imaging systems. Innovations for small and large animals are also a substantial driver in the innovation of these contrast agents.
Collaboration between local veterinary clinics and international companies to bring cutting-edge imaging technology is aiding in increased sales in this sector.
For example, in April 2024, a renowned Malaysian veterinary clinic announced a collaboration with international imaging equipment manufacturers to introduce high-tech imaging systems to its facilities. All these have contributed to the expansion of the imaging sector globally.
Increasing expenditures on pet insurance and health are fueling sales. Owing to the insistence on pet insurance schemes, rising expenditure, and pet owners spending profoundly on animal healthcare, projections show significant growth potential.
Continuous growth and government initiatives are attracting an increasing number of veterinary practitioners. Growing emphasis on researching innovative techniques is on the way to create substantial opportunities for veterinary imaging market players in the coming years.
| Attributes | Descriptions |
|---|---|
| Established Global Veterinary Imaging Market Size (2024E) | USD 2,272.8 million |
| Projected Global Veterinary Imaging Market Value (2034F) | USD 4,306.6 million |
| Value-based CAGR (2024 to 2034) | 6.6% |
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High Adoption of Companion Animals
Ownership of companion animals, especially cats and dogs, has gained immense attention, fueling the demand surge for veterinary healthcare services.
This increasing adoption in emerging economies has facilitated the veterinary imaging market in various parts of the world. Post-COVID scenarios have shown a significant rise in the pet population. Thus, pet owners are willing to spend heavily on their care and diagnostics.
Ascent of Zoonotic Disease has Ignite Clamor for Accurate Diagnosis Techniques
Increasing prevalence of animal diseases and the advancement of animal healthcare also backs up industry growth. The need for early diagnosis and treatment of animal diseases and injuries is met with advancements in imaging technologies. Growing requirements have propelled researchers to delve into more accurate algorithms, leading to sectoral growth.
AI Integration has Boosted the Landscape
Adoption of digital imaging technologies is also a key factor driving the development of this sector. Efficient sharing and analysis of images, integration of AI, and miniaturization of devices have sped up diagnosis and improved treatment outcomes. Cloud-based platforms for remote consultations and affordable imaging systems paint a clear picture of the future uptake of this sector.
Resilience of Veterinary Imaging Market
Talking about challenges, the high cost of equipment and initial investments in this equipment pose significant hurdles to the sector's growth. Secondly, practitioners face financing constraints. Lastly, technological advancements require skilled workers and revenue to scale up, all of which impede industry growth.
Comparing the sector position in 2019 to 2023, the veterinary imaging market was not very developed but had a hold of development with advancements going on. In 2019, the industry size was USD 1,630 million, and for 2023, it was USD 2,132.7 million. A CAGR of 5.5% from 2019 to 2023 shows the adoption of various technologies and the start of the imaging era for animal welfare.
Looking at the broader picture from 2024 to 2034, the estimated CAGR of 6.6% shows a significant shift toward high-tech machines like magnetic resonance imaging and ultrasound. Adoption of cloud-based platforms and affordable imaging systems also has the potential to boost industrial growth.
Post-COVID impact on the market has a big change in the scenario with more number of pet owners and the government focusing on animal welfare. Historical period did not create a suitable environment for collaborations among big players.
But the upcoming decade is set to see investment and partnership play a bigger role. Even awareness and keen interest in companion pets' health in today's time has contributed a big portion to the success of the veterinary imaging market more than ever before.
Principal Consultant
The section covers information about the prominent segments in the industry. In terms of product type, the equipment segment is estimated to account for a share of 57.7% in 2024. By application, the orthopedic category is projected to dominate by holding a share of 30.9% in 2024.
Advancements in technology have accelerated the accuracy and efficiency of veterinary imaging equipment. This has made it an essential tool for veterinarians. Ongoing developments in digital imaging technology enable veterinarians to treat a wide range of conditions in animals.
Rising prevalence of chronic diseases in animals is also soaring the industrial scope. A significant share of 57.7% in 2024 has shown substantial growth as pet owners seek specialized care.
| Segment | Equipment (Product Type) |
|---|---|
| Value Share (2024) | 57.7% |
Need for advanced imaging technology has led to a surge a number of veterinary clinics and hospitals that offer the preeminent imaging services. This ultimately has spurred the demand for veterinary imaging equipment.
Fractures, sprains, and ligament tears are the most common orthopedic conditions. Conditions like this require accurate and detailed imaging to diagnose and treat. This, in turn, has spurred the clamor for orthopedic imaging equipment.
Orthopedics is, therefore, one of the most frequently used applications in veterinary imaging, with veterinarians encountering orthopedic applications as the most common practice, accounting for a share of 30.9% in 2024.
| Segment | Orthopedic (Application) |
|---|---|
| Value Share (2024) | 30.9% |
Advancements in digital radiography, computed tomography, and magnetic resonance imaging have boosted the diagnosis to new levels. Veterinarians can get detailed images of bones, joints, and soft tissues through advanced orthopedic imaging.
This results in more accurate and precise diagnosis and treatment. Accordingly, this has driven the growth of the veterinary imaging market in parallel with the veterinary orthopedic imaging sector.
North American countries with advanced technology and huge spending on healthcare are ruling in the animal welfare sector, too. Canada is reported to cover a CAGR of 10% from 2024 to 2034, which is commendable and higher than that of the United States.
Other countries like Malaysia, Indonesia, and the United Kingdom are in line to expand through collaborations, the development of specialized technologies, and the search for more precise imaging devices. To cope, every country competes to make a strong industrial presence both locally and internationally.
| Countries | CAGR 2024 to 2034 |
|---|---|
| Canada | 10% |
| Malaysia | 7.8% |
| Indonesia | 7.1% |
| United Kingdom | 6.1% |
| United States | 5.4% |
Growing demand for livestock health monitoring and disease prevention has spurred the industry's success in Canada. Remarkable CAGR of 10% through 2034 projects Canada as a key player in the global livestock industry.
With increasing emphasis on maintaining the health and productivity of livestock herds, the veterinary imaging market is skyrocketing here. This has curated the need for advanced imaging techniques like MRI and ultrasound for livestock diagnosis.
Trend of pet ownership is one of the key factors in soaring sectoral success. This has increasingly boosted the clamor for high-quality healthcare services. The industry has curated lucrative opportunities for industry players specializing in both livestock and small and large animal diagnosis systems.
Introduction of groundbreaking imaging technologies tailored for veterinary applications is the credit score of the United Kingdom veterinary imaging market growth. Companies are focused on making portable and user-friendly systems to cover the surging need for diagnostics.
The innovation is likely to revolutionize imaging practices in the United Kingdom and beyond. Thus, they are expected to soar in the foreseen future with an accounted CAGR of 6.1% through 2034.
Acquisitions like Hallmarq Veterinary Imaging by Mars Petcare have introduced innovative imaging solutions in the sector. Key players in the United Kingdom are IDEXX Laboratories, Inc., Fujifilm Holdings Corporation, Carestream Health, Inc., Esaote SpA, and others. With mergers, research, and ongoing developments, the United Kingdom is poised to expand broadly in the foreseeable future.
Growing trend of pet ownership and heightened spending on pet healthcare in the United States increases the demand for veterinary services. Integration of artificial intelligence and miniaturization of imaging devices has fueled the industry development and requirements of this sector in the United States.
With a 5.4% CAGR from 2024 to 2034, the United States veterinary imaging market is set to improve diagnostic capabilities and enhance patient care.
Mounting pet population has barked the requirement for veterinary diagnostics. Pet owners are seeking advanced medical services for their animals. This simultaneously facilitates the adoption of imaging systems in veterinary clinics.
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Manufacturers are expanding distribution channels. Well, some companies are aimed at more advanced features and miniaturization of devices. Research on developing more advanced technologies in animal healthcare and awareness through campaigns are boosting sales.
Many key companies are focused on livestock monitoring and imaging techniques as it stands in the human care sector.
The government is also contributing to the veterinary imaging market expansion. For example, the Indian and North American governments are allocating substantial funds for the development of veterinary healthcare services, including diagnostics facilities.
Industry Updates
Based on product type, the sector is primarily divided into equipment, software, and reagents. Veterinary imaging equipment is further categorized as radiography (X-ray), ultrasound imaging, magnetic resonance imaging, computed tomography, video endoscopy imaging, and other systems.
Radiography systems are also further bifurcated into computed and film-based radiography. Ultrasound imaging systems are divided into 2D and 3D US imaging. Computed tomography systems are also parted into two single and multi-slice CT.
Small and large animals are two categorized sections of animal type in this industry.
Veterinary imaging is applied for cardiology, orthopedics, neurology, oncology, and others.
Clinics, hospitals, institutes, and research centers are top end users of veterinary imaging.
A regional analysis has been carried out in key countries of North America, Latin America, Asia Pacific, Middle East and Africa (MEA), and Europe.
Industry is set to reach USD 2,272.8 million in 2024.
The valuation is expected to reach USD 4,306.6 million by 2034.
Veterinary imaging market is set to register a CAGR of 6.6% from 2024 to 2034.
Orthopedic, with a market share of 30.9% for 2024, is the top application.
Canada’s industry is expected to progress at a CAGR of 10% through 2034.
1. Executive Summary
2. Industry Introduction, including Taxonomy and Market Definition
3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments
4. Global Market Demand Analysis 2019 to 2023 and Forecast 2024 to 2034, including Historical Analysis and Future Projections
5. Pricing Analysis
6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034
6.1. Product Type
6.2. Animal Type
6.3. Application
6.4. End User
7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Product Type
7.1. Equipment
7.1.1. Radiography (X-ray) Systems
7.1.1.1. Computed Radiography
7.1.1.2. Film-based Radiography
7.1.2. Ultrasound Imaging Systems
7.1.2.1. 2D US Imaging
7.1.2.2. 3D US Imaging
7.1.3. Magnetic Resonance Imaging Systems
7.1.4. Computed Tomography Systems
7.1.4.1. Single-slice CT
7.1.4.2. Multi-slice CT
7.1.5. Video Endoscopy Imaging Systems
7.1.6. Others
7.2. Software
7.3. Reagents
7.3.1. Ultrasound Contrast Reagents
7.3.2. MRI Contrast Reagents
7.3.3. X-Ray/CT Contrast Reagents
7.3.4. Nuclear Imaging Reagents
8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Animal Type
8.1. Small Animals
8.2. Large Animals
9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Application
9.1. Cardiology
9.2. Orthopedics
9.3. Neurology
9.4. Oncology
9.5. Others
10. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End User
10.1. Veterinary Clinics
10.2. Veterinary Hospitals
10.3. Veterinary Institutes
10.4. Research Centres
11. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region
11.1. North America
11.2. Latin America
11.3. Western Europe
11.4. South Asia
11.5. East Asia
11.6. Eastern Europe
11.7. Middle East & Africa
12. North America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
13. Latin America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
14. Western Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
15. South Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
16. East Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
17. Eastern Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
18. Middle East & Africa Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
19. Sales Forecast 2024 to 2034 by Product Type, Animal Type, Application, and End User for 30 Countries
20. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard
21. Company Profile
21.1. Esaote
21.2. IDEXX Laboratories, Inc.
21.3. IMV Technologies group
21.4. Carestream Health
21.5. Hallmarq Ltd.
21.6. MinXray, Inc.
21.7. Universal Medical Systems, Inc.
21.8. Agfa- Gevaert N.V.
21.9. Mindray Medical International Ltd.
21.10. GE Healthcare
21.11. Siemens AG
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Veterinary Imaging Market
