Veterinary Imaging Market By Product (Instrument, Reagent, Services, Veterinary PACS), By Animal Type (Small Companion Animals, Large Animals, Others), By Application (Orthopedics and Traumatology, Oncology, Cardiology, Neurology, Other), By End-use (Hospitals/Clinics, Reference Laboratories, Others), By Region And Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, And Forecast 2023-2032

Report Overview

Veterinary Imaging Market size is expected to be worth around USD 4.1 Bn by 2032 from USD 2.3 Bn in 2022, growing at a CAGR of 6.1% during the forecast period from 2023 to 2032.

The veterinary imaging market has been fueled by a rising demand for innovative imaging services in the veterinary industry. The veterinary imaging market, delving deeply into its definition, objectives, significance, and benefits. In addition, we will investigate notable sector advancements, massive investments, and product and service integration. In addition, we will conduct an in-depth analysis of the market's expansion and applications, identify the industries that are investing in it, and deconstruct the key forces accelerating its growth. Ethical considerations and responsible use of veterinary imaging will also be discussed, with a strong emphasis on transparency, explicability, and accountability. In conclusion, we will discuss the diverse applications of veterinary imaging in the business world, thereby providing an exhaustive discussion of the topic.

The veterinary imaging market is a highly specialised discipline that focuses on the development and deployment of an extensive array of imaging technologies that cater to the medical requirements of animals. These cutting-edge technologies encompass a wide range of imaging modalities, including conventional X-rays, ultrasounds, CT scans, and MRI as well as highly sophisticated imaging techniques such as endoscopy and nuclear medicine. The primary objective of the veterinary imaging market is to provide definitive and accurate diagnoses of the various veterinary conditions that animals may experience, thereby facilitating effective and timely treatment.

The importance of veterinary imaging in diagnosing and treating animal health problems cannot be exaggerated. Without these imaging techniques, it is virtually impossible to diagnose and treat many animal conditions, resulting in unwarranted discomfort and suffering for animals. In addition, imaging technologies are indispensable in veterinary research and education, as the ability to visualise the internal structures of animals greatly improves scientists' knowledge of animal anatomy and physiology.

In recent years, the veterinary imaging industry has witnessed unprecedented levels of innovation, with enormous quantities invested in research and development. 3D imaging, which enables more precise and in-depth diagnoses of veterinary conditions, is one of the most ground-breaking and innovative techniques that have emerged. The use of artificial intelligence and machine learning algorithms to analyse and interpret imaging data, resulting in faster and more accurate diagnoses, is another remarkable innovation.

As with any medical procedure, the use of veterinary imaging involves ethical considerations. Utilising these technologies responsibly is crucial for ensuring the safety and comfort of animals undergoing these procedures. Transparency, explainability, and accountability are, therefore, of the utmost importance to ensure that animals are not subjected to superfluous imaging procedures and that the results of these procedures are utilised responsibly and judiciously.

Driving factors

Increasing Incidence of Chronic Illnesses in Companion Animals

The market for veterinary imaging is anticipated to experience substantial growth in the future years due to a number of positive factors. One of these factors is the escalating prevalence of chronic diseases in companion animals, which drives up demand for veterinary imaging systems. This field's technological advances have enabled the early detection of diseases, resulting in improved treatment outcomes and an overall improvement in animal health.

Increasing Pet Adoption and Expenditures for Their Healthcare

The increasing adoption of canines and rising expenditures on their healthcare also contribute significantly to the development of the veterinary imaging market. Pet owners are investing more in the health and well-being of their creatures, which is driving demand for sophisticated diagnostic and imaging equipment.

Technological Progresses

Innovations in veterinary imaging modalities also contribute to the expansion of the market. Computed tomography, magnetic resonance imaging, and ultrasound systems have revolutionised veterinary imaging, allowing for more precise diagnosis and treatment of animal diseases.

Increasing Demand for Food Products Derived from Animals

Increasing demand for food products derived from animals is also propelling the market for veterinary imaging. The increased demand for high-quality livestock, milk, and other animal products is causing animal farming and husbandry to employ advanced imaging techniques. This allows producers to identify and control diseases in their livestock, resulting in safer and higher quality food products.

Potential Effects of Regulation Amendments

On the regulatory front, regulatory alterations may have an impact on the veterinary imaging market. The implementation of stricter regulations regarding the use of ionising radiation in imaging instruments may have an effect on the market. With the development of non-ionizing radiation imaging instruments, however, the effect of such regulations is likely to be minimal.

Restraining Factors

Expensive veterinary imaging apparatus

The veterinary imaging equipment is an indispensable diagnostic and therapeutic instrument for animal healthcare professionals. However, the high cost of this apparatus makes it difficult for animal healthcare providers, particularly small or rural animal clinics, to invest in it. This is due to the fact that veterinary imaging equipment is technologically sophisticated and requires advanced engineering to produce, making it costly. To address this issue, companies are developing inexpensive imaging devices with high resolution.

Limited number of qualified personnel to operate imaging equipment

The veterinary imaging equipment is a complex device that requires the operation and interpretation of trained professionals. However, there is a shortage of qualified veterinary professionals, particularly in rural areas. This issue can result in incorrect image interpretations, leading to incorrect animal diagnoses and treatment plans. To address this problem, veterinary institutions must invest in education and training programmes to increase the industry's competent workforce.

Strict regulations for animal experimentation

Over the years, the regulatory framework governing animal research has become more stringent, particularly in developed nations. This issue has made it difficult to conduct animal testing studies, which are essential for the development of novel imaging technologies in veterinary medicine. Companies and research institutions are required to adhere to stringent regulations, which can be time-consuming and expensive, delaying the creation of novel imaging technologies for animals.

Radiation exposure risk during imaging procedures

When performing imaging procedures that involve the use of radiation, radiation exposure is a significant concern. The risk of radiation exposure extends to the personnel operating the apparatus, in addition to the animals. Cancer, skin burns, and tissue injury can be caused by prolonged exposure to radiation. Manufacturers of veterinary imaging equipment are developing equipment with low radiation doses to address this issue, assuring the safety of both animals and personnel.

By Product Analysis

The X-ray segment has dominated the veterinary imaging market for many years. The X-ray segment has been the most popular imaging modality due to its low cost, ease of operation, and pervasive use. Despite the availability of other imaging modalities such as MRI and CT scans, X-ray remains the most commonly used imaging modality in veterinary medicine.

The advantages of veterinary imaging, particularly X-ray imaging, are becoming increasingly apparent to consumers. They are more willing to spend money to assure the health and well-being of their pets and livestock. Additionally, they are more likely to pursue preventive care to ensure early disease detection and treatment.

The X-ray segment is anticipated to experience the highest growth rate in the coming years for a number of factors. First, the rising demand for animal healthcare services is anticipated to increase the use of X-ray imaging. X-ray imaging is becoming more efficient and accurate as a result of technological developments. The decreased cost of X-ray imaging should make it more accessible to a broader spectrum of customers.

By Animal Type Analysis

The market for veterinary imaging is dominated by the segment for Small companion animals. Greater demand exists for imaging services for Small companion animals, such as canines and cats, than for livestock. The expansion of the pet population has been the primary factor driving the expansion of the Small companion animals segment.

The rise of the middle class in emerging nations has contributed to the expansion of the Small companion animals market. As disposable incomes increase, consumers are increasingly inclined to spend money on their pets.

Consumers are increasingly considering their canines to be family members. They are more likely to pursue preventive care for their pets to ensure their health and wellbeing. In addition, they are more willing to invest in advanced veterinary services to ensure their pets receive the best care feasible.

The segment of Small companion animals is anticipated to experience the highest growth rate in the future years. The increasing pet population, the rise in consumer awareness of animal health and well-being, and the rise in consumer propensity to spend money on their pets are anticipated to drive the expansion of the Small companion animals segment.

By Application Analysis

The orthopaedics and traumatology segment is the market leader in veterinary imaging. Due to the high prevalence of orthopaedic and trauma-related injuries in animals, the segment is characterised by a high demand for imaging services.

Consumers' demand for orthopaedics and trauma-related imaging services for their animals is increasing. To ensure their animals receive the best possible care, they are more inclined to pay for advanced veterinary services. In addition, they are more likely to seek preventive care to assure early identification and treatment of orthopaedic and trauma-related injuries.

In the coming years, the orthopaedics and traumatology segment is anticipated to experience the highest growth rate due to the rising demand for advanced imaging services for orthopaedic and trauma-related injuries in animals. The expanding pet population and rising consumer awareness of animal healthcare are also anticipated to contribute to the segment's expansion.

By End User Analysis

The veterinary imaging market is dominated by the Hospitals/Clinics segment. Hospitals/Clinics offer the most extensive range of services and typically have the most advanced imaging technology. In addition, they are more likely to possess the skilled personnel required to operate the apparatus.

Consumers increasingly search out Hospitals/Clinics for animal healthcare services. To ensure their animals receive the best possible care, they are more inclined to pay for advanced veterinary services. In addition, they are more likely to seek preventive care to assure early disease detection and treatment.

In the future years, the sector of Hospitals/Clinics is anticipated to experience the highest growth rate. The expansion of the segment is anticipated to be fueled by the rising demand for animal healthcare services and the rising adoption of advanced imaging equipment.

Key Market Segments

By Product

• 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

By Animal Type

• Small Companion Animals
• Large Animals
• Others (Including Exotic Animals and Birds)

By Application

• Orthopedics and Traumatology
• Oncology
• Cardiology
• Neurology
• Other (dentistry & ophthalmology)

By End-use

• Hospitals/Clinics
• Reference Laboratories
• Others

Growth Opportunity

Demand for advanced imaging techniques in veterinary medicine is increasing.

Increasing demand for sophisticated imaging techniques, such as MRI and CT scans, is a significant growth driver for the veterinary imaging market. In veterinary medicine, these techniques enable more precise diagnoses and more effective treatment options. As demand for sophisticated imaging techniques continues to rise, the market for veterinary imaging is anticipated to experience substantial expansion.

Utilisation of Artificial Intelligence in Veterinary Imaging Growing

Increasing use of artificial intelligence in veterinary imaging enables veterinarians to make more precise diagnoses. As AI technology continues to advance, its use in veterinary imaging is likely to increase, driving the market for veterinary imaging to new heights.

Telemedicine's Emergence in Veterinary Practise

Telemedicine contributes to the expansion of the veterinary imaging market by enabling veterinarians to remotely consult with specialists and share images. This facilitates the delivery of specialised care to animals in need. As the prevalence of telemedicine continues to rise, the demand for veterinary imaging services is likely to rise as well.

Increasing Adoption of Imaging Devices at the Point-of-Care

The increasing adoption of point-of-care imaging devices also contributes to the expansion of the veterinary imaging market. These devices enable veterinarians to provide diagnostic imaging services in the field or in remote locations with greater speed and efficiency. As these devices become more accessible, the market for veterinary imaging is likely to experience substantial expansion.

Latest Trends

Digital Radiography Fuels Expansion.

Digital radiography is becoming increasingly prevalent in veterinary medicine due to its many advantages over traditional film radiography. These advantages include the creation of high-quality images with reduced radiation dosages, making it safer for both animals and technicians. Moreover, digital radiography provides images that can be readily enhanced or enlarged, facilitating the diagnosis and treatment of patients by veterinarians.

Combining Artificial Intelligence

Integration of artificial intelligence (AI) into veterinary imaging is an additional trend gathering momentum. AI can aid in the detection of subtle changes in images that the human eye might overlook, and it can also aid in the analysis of large datasets. It is possible to train AI algorithms to recognise specific features or anomalies in images, making diagnosis more rapid and accurate.

Transportable and Wireless Imaging Technology

In the veterinary profession, portable and wireless imaging equipment is gaining popularity, allowing imaging to be performed outside of the clinic. This is especially beneficial for veterinarians who treat large animals. Many portable devices have lower radiation doses and are easier to use than conventional imaging systems, making them an attractive alternative for many veterinary professionals.

Telemedicine and Its Consequences

Veterinarians can communicate with clients and other veterinarians remotely and transmit images for diagnosis and treatment thanks to telemedicine, which is rapidly acquiring popularity in veterinary practise. This technology has the potential to reduce costs and increase pet owners' access to veterinary care. This trend also affects the imaging market, as telemedicine permits remote imaging and specialist consultation.

Regional Analysis

In North America, the veterinary industry is thriving as pet ownership rates continue to rise and more pet owners seek out high-quality treatment for their furry companions. Consequently, veterinary imaging technology has become an indispensable instrument for diagnosing and treating a variety of animal diseases and injuries. In fact, the North American veterinary imaging market is anticipated to be the largest in the world, owing to the presence of well-established veterinary hospitals and clinics, rising pet ownership, and rising awareness of pet healthcare.

Exploring the latest trends and developments in this industry in North America. We will examine the various varieties of veterinary imaging technology currently available, highlighting their distinctive characteristics and benefits. In addition, we will examine the leading participants in the North American veterinary imaging market, analysing their strengths, weaknesses, and growth strategies.

The market for veterinary imaging in North America is highly competitive, with a number of major competitors contending for market share. Here are some of the leading companies in this industry:

IDEXX Laboratories is a multinational corporation that provides veterinary practises with diagnostic and information technology solutions. The corporation provides a variety of diagnostic imaging systems, such as X-ray and ultrasound equipment.

GE Healthcare is a global leader in the provision of healthcare technology and solutions. The company's portfolio of veterinary imaging equipment includes ultrasound, X-ray, and CT machines.

Canon Medical Systems: Canon Medical Systems offers a variety of diagnostic imaging solutions, including ultrasound and CT equipment, for the veterinary market.

Carestream Health provides medical imaging technology and solutions to a variety of industries, including veterinary medicine. The company's product line for veterinary imaging includes X-ray and digital radiography apparatus.

Key Regions and Countries

North America

• US
• Canada
• Mexico

Western Europe

• Germany
• France
• The UK
• Spain
• Italy
• Portugal
• Ireland
• Austria
• Switzerland
• Benelux
• Nordic
• Rest of Western Europe

Eastern Europe

• Russia
• Poland
• The Czech Republic
• Greece
• Rest of Eastern Europe

APAC

• China
• Japan
• South Korea
• India
• Australia & New Zealand
• Indonesia
• Malaysia
• Philippines
• Singapore
• Thailand
• Vietnam
• Rest of APAC

Latin America

• Brazil
• Colombia
• Chile
• Argentina
• Costa Rica
• Rest of Latin America

Middle East & Africa

• Algeria
• Egypt
• Israel
• Kuwait
• Nigeria
• Saudi Arabia
• South Africa
• Turkey
• United Arab Emirates
• Rest of MEA

Key Players Analysis

The veterinary imaging market is a rapidly expanding market, fueled by rising pet ownership and technological advancements. Leading veterinary imaging equipment manufacturers, such as IDEXX Laboratories Inc, VCA Inc, Heska Corporation, and Fujifilm Holdings Corporation, dominate the market.

IDEXX Laboratories, Inc. is a global leader in veterinary diagnostics and imaging, offering digital radiography systems, ultrasound systems, and computed tomography (CT) imaging, among other imaging solutions. The company's flagship product, the IDEXX digital x-ray system, provides veterinarians with high-quality images in real-time, allowing them to diagnose and treat patients swiftly.

VCA Inc. is the foremost provider of veterinary care services, including imaging services. The company provides a variety of imaging modalities, such as ultrasonography, digital radiography, and CT imaging. The advanced imaging suite at VCA provides access to imaging services around-the-clock, enabling veterinarians to rapidly diagnose and treat patients.

Heska Corporation is a top provider of veterinary diagnostic equipment and services, specialising in in-clinic blood analyzers and imaging devices. The company provides various imaging modalities, such as digital radiography systems, ultrasound systems, and CT imaging.

Fujifilm Holdings Corporation is a global leader in the production of imaging and information technology products, including veterinary imaging instruments. The company provides an array of imaging solutions, such as digital radiography systems, ultrasound systems, and CT imaging. Fujifilm's sophisticated imaging solutions are tailored to the specific requirements of the veterinary industry, providing high-quality images and precise diagnostics.

Top Key Players in Veterinary Imaging Market

• DEXX Laboratories, Inc.
• GE Healthcare
• Carestream Health
• FUJIFILM Holdings America Corporation
• Esaote SpA
• VetZ Limited
• Hallmarq Veterinary Imaging Ltd
• SUNI Medical Imaging, Inc.
• Universal Medical Systems, Inc.

Recent Development

• 2023: GE Healthcare, a leading provider of medical imaging solutions, launched the Vetray 3D CT Scanner specifically tailored for use with animals. It provides high-resolution images designed to assist veterinarians with diagnosing and treating various ailments.
• 2022: IDEXX Laboratories, the global leader in veterinary testing, introduced its advanced imaging system, the Innovet ICR 5G. This revolutionary imaging solution provides veterinarians with high-resolution images and tools for diagnosing and treating an array of conditions.
• 2022: Antech Imaging, a leading veterinary imaging company, bought AKC Canine Health Foundation's (CHF) Canine Health Information Center (CHIC). This acquisition will allow Antech to expand its canine health diagnostic offerings.
• In 2021, Fujifilm Sonosite introduced the SonoSite PX, a POCUS veterinary ultrasound system designed for a wide range of veterinary applications.

Report Scope