Veterinary Diagnostic Imaging Market Size, Analyzing Shifts and Predicted Scenarios 2024-2032

Veterinary Diagnostic Imaging Market Valuation – 2024-2031

Increased emphasis on animal health innovation and the need for prompt diagnosis of chronic conditions is increasing use of imaging technologies in veterinary orthopaedics, dentistry, and several other indications, contributing to an upsurge in the demand for veterinary imaging.  According to the analyst from Market Research, the Veterinary Diagnostic Imaging Market was valued to be approximately USD 2.3 Billion in 2023and is projected to reach a revenue of USD 5 Billion in 2031.

Growing awareness about health and fitness among individuals is boosting the consumption of meat and dairy products, thereby necessitating focus on animal health. The health consciousness among the consumers is creating immense opportunities of growth for the market,  among the pet owners is projected increase the demand for veterinary diagnostic imaging enabling the market to grow at a CAGR of 6.59% from 2024 to 2031.

The Veterinary Diagnostic Imaging Market encompasses the provision of imaging services and devices specifically tailored for diagnosing medical conditions and assessing health status in animals. It includes a wide array of modalities such as X-ray, ultrasound, MRI, CT scans, and nuclear imaging, among others. These diagnostic tools aid veterinarians in accurately diagnosing ailments, guiding treatment decisions, and monitoring the progress of therapeutic interventions in various animal species, including companion animals, livestock, and exotic pets.

Veterinary Diagnostic Imaging Market: Definition/ Overview

One area of medicine that is frequently used to acquire medical images of animals for disease diagnosis is veterinary imaging. Diseases in companion animals, large animals, livestock animals, and other animals are diagnosed using imaging systems like radiography, X-ray, ultrasound, MRI, CT, endoscopy, and others.

The rise in pet adoption, technological developments in veterinary imaging systems, an increase in veterinary hospitals due to a spike in veterinary professionals, and a rise in spending on animal health are the main factors propelling the veterinary diagnostic imaging market’s expansion, which is expected to rise during the forecast period. Furthermore, during the projected period, the developing regions are anticipated to present lucrative prospects for market expansion due to their significant potential.

Which are the Drivers Encouraging the Adoption of Veterinary Diagnostic Imaging Market?

A number of significant factors are driving the adoption of veterinary diagnostic imaging. A growing emphasis on the health and welfare of animals, which is driving up demand for sophisticated diagnostic methods to precisely identify and treat a range of medical conditions in animals.

Veterinary diagnostic imaging solutions are becoming more and more popular because advances in imaging modalities like MRIs, CT scans, ultrasounds, and X-rays have made it possible to identify and diagnose diseases in animals.

Further driving the need for diagnostic imaging services in veterinary clinics and hospitals are the growing pet population, the increasing incidence of infectious diseases, chronic illnesses, and injuries in animals, as well as the rising cost of animal healthcare. The introduction of cutting-edge imaging systems designed specifically for veterinary applications, significant market participants’ investments in R&D, and encouraging government initiatives are all contributing to the market’s expansion. In general, it is anticipated that these variables working together will propel veterinary diagnostic imaging solutions’ ongoing uptake in the years to come.

What are the Challenges Faced by Veterinary Diagnostic Imaging Market?

The v adoption of advanced imaging modalities like CT and MRI scans can be severely hampered by their high cost, especially for smaller veterinary practices and animal care facilities with tight budgets. This cost factor may limit market growth by preventing diagnostic imaging services from being widely available in some areas.

There is a dearth of knowledgeable veterinary practitioners who have received diagnostic imaging training. Accurate diagnosis and treatment of animal diseases can be hampered by the lack of qualified professionals skilled in veterinary diagnostic imaging, as interpreting imaging results requires specific knowledge and expertise.

Regulatory complexities and compliance requirements pertaining to the use of diagnostic imaging equipment in veterinary practices is likely to impact the manufacturers. In particular for smaller businesses and new entrants, ensuring compliance with strict regulatory standards and obtaining the required certifications for imaging devices can be time- and resource-intensive.

The adoption of cutting-edge diagnostic imaging technologies may be hampered by the restricted infrastructure and resources available in developing nations. Remote or rural veterinary clinics and hospitals might not have access to advanced imaging technology or skilled staff, thereby, resulting in differences in the caliber of care provided to animals.

Category-Wise Acumens

How Small Companion Animals helps in Growth of Veterinary Diagnostic Imaging Market?

The growing pet ownership and awareness of veterinary care have led to a higher spending on diagnostic imaging services for small companion animals. Additionally, advancements in veterinary medicine and imaging technologies have expanded the capabilities and accessibility of diagnostic imaging for these animals.

The prevalence of age-related conditions, chronic diseases, orthopedic injuries, and cancer in small companion animals drives the demand for diagnostic imaging services. Thereby, encouraging the veterinary clinics and hospitals to adopt a range of imaging modalities, including X-rays, ultrasounds, CTs, MRIs, and nuclear imaging to perform detailed and accurate diagnostics.

Thus, the dominance of small companion animals in the veterinary diagnostic imaging market is due to the emphasis on preventive care, early detection, and personalized treatment plans.

Will Demand from Orthopedics and Traumatology Boost the Veterinary Diagnostic Imaging Market?

The growing prevalence of orthopedic and traumatic injuries in companion animals, livestock, and equine species is surging demand for advanced diagnostic imaging solutions. Thus, paving way for orthopedic and traumatology imaging techniques like X-rays, CT, MRI, and ultrasound for evaluating bone structure, joint health, soft tissue injuries, and musculoskeletal abnormalities in animals. These technologies ability to enable veterinarians to assess the extent of injuries, identify underlying conditions, and formulate treatment strategies is projected to accounts for its significant share in the veterinary diagnostic imaging market.

A growing awareness among pet owners and livestock producers about the importance of early diagnosis and treatment of musculoskeletal disorders is anticipated to fuel the demand for diagnostic imaging services. Also, pet owners willingness to invest in advanced diagnostics to ensure their pets’ health and well-being, leads to increase in utilization of imaging technologies in veterinary clinics and hospitals.

Additionally, growing awareness among livestock producers regarding the economic impact of musculoskeletal injuries on production efficiency and animal welfare is driving the adoption of diagnostic imaging for preventive care and treatment planning.

Technological advancements in veterinary diagnostic imaging systems is enhancing the accuracy, resolution, and accessibility of orthopedic and traumatology imaging. Collaboration between veterinary professionals, imaging equipment manufacturers, and research institutions are resulting in the development of specialized imaging protocols, software tools, and training programs focused on orthopedic and traumatology applications.

Gain Access into Veterinary Diagnostic Imaging Market Report Methodology

Country/Region-wise Acumens

Will Rise in Animal Lovers in Asia Pacific Upsurge Sales of Veterinary Diagnostic Imaging Solutions?

Among the regions with the greatest potential for growth in the veterinary diagnostic imaging market is Asia-Pacific. The growing pet population is one of the main factors propelling the growth of the veterinary diagnostic imaging market in Asia-Pacific. Rapid urbanization in this region is leading to an upsurge in pet ownership of dogs and cats. Growing trend of single lives or smaller households with pets as valued companions will bolster the demand for veterinary diagnostic imaging systems.

The need for ensuring the health and wellbeing of their animal companions just like a family member is encouraging the pet owners to turn to advanced medical care, such as diagnostic imaging services.

Also, increase in disposable income even in the emerging nations such as India and China are enabling consumers to spend on pet healthcare services, including diagnostic imaging, in this region. Besides these, increasing prevalence of pet insurance policies in the area is also propelling the demand for veterinary diagnostic imaging services as insured pet owners focus on obtaining complete medical care, including diagnostic examinations, for their animals.

How will Rise in Pet Ownership in North America Favor Veterinary Diagnostic Imaging Market?

Globally, the veterinary diagnostic imaging market is expanding significantly, and a number of areas are becoming major players in the sector. Due to factors like high pet ownership rates, sophisticated healthcare infrastructure, and rising veterinary care expenditures, North America and Europe have historically dominated the veterinary diagnostic imaging market and will continue to retain its dominance in the coming years.

Adoption of veterinary diagnostic imaging technologies has been leading the way in North America, especially the United States. Rise in pet lovers is increasing companion animals, leading to high demand for vast network of veterinary hospitals and clinics, and a well-established veterinary healthcare system. Thus, demand for veterinary diagnostic imaging services is driven by North American pet owners’ strong commitment to their animals’ health and willingness to explore cutting-edge diagnostic and treatment options.

Comparably, the veterinary diagnostic imaging market is heavily dominated by European nations, such as the UK, Germany, France, and Italy. Europe enjoys the advantages of a strong veterinary healthcare system, strict regulations, and an increasing emphasis on the health and well-being of pets. Additionally, the area has a long history of veterinary research and education, which has advanced diagnostic imaging methods and technologies.

Competitive Landscape

The competitive landscape in the Veterinary Diagnostic Imaging Market is dynamic and evolving, driven by changing customer preferences, technological advancements, and market dynamics. Providers continue to innovate and differentiate their offerings to stay competitive and capture market share in this rapidly growing industry.

Some of the prominent players operating in Veterinary Diagnostic Imaging Market the include:

• IDEXX Laboratories, Inc.
• ESAOTE SPA
• SOUND
• General Electric Company
• Universal Medical Systems, Inc.
• FUJIFILM Holdings America Corporation
• Hallmarq Veterinary Imaging Ltd.
• VetZ GmbH
• Shenzhen Mindray Animal Medical Technology Co., LTD.
• Heska Corporation

Latest Developments:

• In February 2022, aycan Medical Systems added Softneta’s MedDream VET DICOM Viewer to its expanding portfolio of veterinary imaging. MedDream VET is a natural extension of aycan’s other solutions and developed on the same DICOM standard.
• In January 2022, ClariusMobile Health introduced its third-generation product line of high-performance handheld wireless ultrasound scanners for veterinarians, which is 30% lighter and smaller and comes in pocket size. Such handheld and compact ultrasound devices are attracting veterinary professionals due to their cost efficiency and ease of use.

Report Scope

Veterinary Diagnostic Imaging Market, By Category

 Product:

• Instrument
• Reagent
• Services
• Veterinary PACS

Animal Type:

• Small Companion Animals
• Large Animals

 Applications:

• Orthopedics and Traumatology
• Oncology
• Cardiology
• Others

End-User:

• Hospitals/Clinics
• Reference Laboratories
• Others

Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Research Methodology of Market Research:

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