The global veterinary imaging market is experiencing significant growth, driven by increasing pet ownership, rising awareness of animal health, and advancements in imaging technologies. In 2024, the market reached a value of USD 2.0 billion and is projected to grow at a compound annual growth rate (CAGR) of 5.11% from 2025 to 2033, reaching USD 3.2 billion by 2033. Key factors fueling this growth include the prevalence of chronic and acute conditions in animals, the expansion of veterinary hospitals, and the development of portable imaging devices that enhance diagnostic capabilities.
Study Assumption Years
- Base Year: 2024
- Historical Years: 2019–2024
- Forecast Years: 2025–2033
Veterinary Imaging Market Key Takeaways
- The veterinary imaging market was valued at USD 2.0 billion in 2024 and is expected to reach USD 3.2 billion by 2033, growing at a CAGR of 5.11% during the forecast period.
- North America dominates the market, attributed to a steady increase in pet ownership and the demand for advanced veterinary services.
- Technological advancements, such as portable and battery-powered imaging instruments, are enhancing point-of-care services.
- The rising focus on the "One Health" approach, recognizing the interconnected health of humans, animals, and ecosystems, is fueling market growth.
- An increase in dogs with orthopedic disorders is positively influencing the market share.
- The expansion of veterinary hospitals worldwide contributes to the market's growth.
- Advancements in veterinary MRI technology enable the scanning of soft tissue structures before surgery.
Market Growth Factors
1. Rising Pet Ownership and Expenditure on Animal Health
The rise in pet ownership across the world has created increased attention and spending on animal health. Pet owners are now focusing more on higher-end diagnostic services in order to provide the best care for their animals. Increased demand for veterinary imaging solutions is the result of this trend, where early and correct diagnosis takes center stage. The desire among pet owners to spend money on thorough healthcare of the pets, including imaging tests, is a main driver of growth for the market.
2. Technological Advancements in Imaging Modalities
The innovation of imaging technologies, including MRI, CT scans, and portable imaging equipment, has redefined veterinary diagnostics. The imaging technologies provide high-resolution images, which help in accurate diagnosis and treatment planning. Portable and battery-operated imaging equipment development supports point-of-care services and provides instant diagnostics in different locations. These innovations improve the efficiency and effectiveness of veterinary services, supporting market growth.
3. Expansion of Veterinary Healthcare Infrastructure
The expansion of veterinary clinics and hospitals across the globe is driving the veterinary imaging market. With more veterinary facilities being equipped with sophisticated imaging technology, diagnostic services are becoming increasingly accessible. Expansion is especially pronounced in emerging markets, where investments in veterinary infrastructure are on the rise. Growth in veterinary healthcare infrastructure aids in the adoption of imaging technologies, thus fueling market growth.
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Market Segmentation
Breakup by Product Type
- Instrument: Includes imaging devices such as X-ray, ultrasound, MRI, and CT scanners used for diagnostic purposes in veterinary medicine.
- Reagents: Comprises contrast agents and other chemical substances used to enhance the quality of imaging results.
- Others: Encompasses software and accessories that support imaging procedures and image analysis.
Breakup by Animal Type
- Small Companion Animals: Refers to pets like dogs and cats that commonly require imaging services for various health assessments.
- Large Animals: Includes livestock and equine animals that necessitate imaging for diagnosis and treatment of medical conditions.
Breakup by Application
- Orthopedics and Traumatology: Imaging used to diagnose musculoskeletal issues and injuries in animals.
- Oncology: Utilization of imaging technologies to detect and monitor tumors and cancers in animals.
- Cardiology: Imaging applications focused on diagnosing heart-related conditions in veterinary patients.
- Neurology: Involves imaging of the nervous system to identify neurological disorders in animals.
- Others: Covers additional applications such as dentistry and reproductive health assessments.
Breakup by End User
- Hospitals and Clinics: Veterinary facilities providing comprehensive diagnostic and treatment services, including imaging.
- Reference Laboratories: Specialized labs offering advanced imaging services and analysis for veterinary diagnostics.
- Others: Includes academic institutions and research centers utilizing imaging for educational and investigative purposes.
Breakup by Region
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Regional Insights
North America leads the veterinary imaging market, driven by a steady increase in pet ownership and the demand for advanced veterinary services. The region's well-established veterinary infrastructure and the adoption of cutting-edge imaging technologies contribute significantly to market dominance.
Recent Developments & News
The veterinary imaging market is witnessing notable advancements. In June 2023, ESAOTE SPA launched the MyLab X90VET ultrasound system, featuring patented Augmented Insight technology for precise diagnostic imaging. Additionally, in April 2024, Asteris partnered with VetlinkPRO to integrate imaging technology with practice management systems, enhancing workflow efficiency in veterinary practices.
Key Players
Agfa-Gevaert N.V. (IG Farben), Canon Inc., Carestream Health Inc., Draminski S.A., Esaote SpA, Fujifilm holdings corp., Hallmarq Veterinary Imaging, Heska Corporation, IDEXX Laboratories Inc., IMV Technologies Group, MinXray Inc., Siemens Healthineers AG (Siemens AG), etc.
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