In the Global Veterinary Imaging Market Research Report published by Emergen Research, key business details are analyzed along with a geographical overview of the Veterinary Imaging industry, which provides extensive analysis of this sector. This study provides a comprehensive look at the Veterinary Imaging market from both a qualitative and quantitative perspective as well as crucial statistical information about the market. As of 2024, the research study provides historical data and offers forecasts up to 2032. Furthermore, the report describes emerging and established players of the market, providing an overview of their business, their product portfolio, their strategic alliances, and their plans for expansion.
Veterinary imaging involves the use of imaging modalities such as X-rays, ultrasound, computed tomography (CT), magnetic resonance imaging (MRI), and nuclear imaging to diagnose and monitor diseases in animals. To provide statistical insights, the American Veterinary Medical Association (AVMA) estimates that around 57% of households in the United States own pets. Additionally, according to the British Small Animal Veterinary Association (BSAVA), diagnostic imaging accounts for approximately 20% of all veterinary procedures in the UK.
According to the most recent analysis by Emergen Research, the size of the worldwide veterinary imaging market reached USD 1.65 billion in 2021 and is anticipated to grow at a revenue CAGR of 6.1% during the projected period. The market is driven by factors such as the increasing pet adoption rates, growing prevalence of animal diseases, advancements in imaging technology, and the rising focus on animal healthcare.
One of the primary drivers behind the growth of the veterinary imaging market is the increasing pet ownership worldwide. Pets have become integral members of many families, and their owners are willing to invest in their healthcare. This has led to a higher demand for diagnostic services and imaging procedures in veterinary clinics and hospitals. Additionally, the increasing awareness about the benefits of early disease detection and the availability of advanced imaging technologies have further propelled the growth of the veterinary imaging market.
The growing prevalence of animal diseases is another significant driver for the veterinary imaging market. Animals, just like humans, are susceptible to various health conditions, including orthopedic disorders, cancers, cardiovascular diseases, and neurological disorders. Veterinary imaging plays a crucial role in the early detection, diagnosis, and monitoring of these diseases. With the advancements in imaging technology, veterinarians are able to obtain high-quality images for accurate diagnosis and effective treatment planning.
However, the veterinary imaging market also faces certain restraints. One of the key challenges is the high cost associated with imaging equipment and procedures. Veterinary imaging equipment, such as X-ray machines and MRI scanners, can be expensive to acquire and maintain. Moreover, the need for trained professionals to operate these sophisticated imaging systems adds to the overall cost. These cost-related factors can limit the adoption of veterinary imaging services, particularly in regions with limited financial resources.
Several growth factors are expected to drive the veterinary imaging market in the coming years. Firstly, the increasing investments in research and development activities aimed at advancing imaging technology for veterinary applications are fueling market growth. Innovations such as portable and handheld imaging devices, three-dimensional (3D) imaging, and contrast-enhanced imaging techniques are expanding the capabilities and improving the accessibility of veterinary imaging. These advancements are driving the demand for imaging services in veterinary practices.
Furthermore, the rising focus on animal healthcare and the availability of pet insurance coverage are contributing to the growth of the veterinary imaging market. Pet owners are increasingly recognizing the importance of regular health check-ups and early disease detection for their animal companions. Moreover, the inclusion of imaging services in pet insurance plans provides financial support for diagnostic procedures, encouraging pet owners to seek veterinary imaging services when necessary.
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Market Dynamics:
The report offers insightful information about the market dynamics of the Veterinary Imaging market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Veterinary Imaging market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Veterinary Imaging market.
Radical Highlights of the Veterinary Imaging Market Report:
- Comprehensive overview of the Veterinary Imaging market along with analysis of the changing dynamics of the market
- Growth Assessment of various market segments throughout the forecast period
- Regional and global analysis of the market players, including their market share and global position
- Growth strategies adopted by key market players to combat the impact of the COVID-19 pandemic on the market
- Impact of the technological developments and R&D advancements on the Veterinary Imaging market
- Information about profit-making strategies and developmental strategies of major companies and manufacturers
- Insightful information for the new entrants willing to enter the market
- Details and insights about business expansion strategies, product launches, and other collaborations
- The report incorporates advanced analytical tools such as SWOT analysis, Porter’s Five Forces Analysis, feasibility analysis, and investment return analysis
Competitive Landscape:
Furthermore, the report includes an in-depth analysis of the competitive landscape. The segment covers a comprehensive overview of the company profiles along with product profiles, production capacities, products/services, pricing analysis, profit margins, and manufacturing process developments. The report also covers strategic business measures undertaken by the companies to gain substantial market share. The report provides insightful information about recent mergers and acquisitions, product launches, collaborations, joint ventures, partnerships, agreements, and government deals.
Key Companies Profiled in the Report:
ESAOTE SPA, SOUND, General Electric Company, UNIVERSAL SOLUTIONS, INC., FUJIFILM Holdings America Corporation, Carestream Health., Koninklijke Philips N.V., Siemens Healthcare GmbH, Agfa-Gevaert Group, Heska Corporation
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Veterinary Imaging Market Segmentation:
Product Type Outlook (Revenue, USD Billion; 2019-2030)
- X-ray
- Computed Tomography (CT) Systems
- Ultrasound
- Magnetic Resonance Imaging (MRI)
- Others
Animal Type Outlook (Revenue, USD Billion; 2019-2030)
- Livestock
- Poultry
- Cattle
- Others (horses, goat, camel, and others)
- Companion
- Cats
- Dogs
- Aquaculture
- Others
- Livestock
Application Outlook (Revenue, USD Billion; 2019-2030)
- Oncology
- Cardiology
- Neurology
- Orthopedics
- Others
Regional Segmentation;
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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