Veterinary Imaging Market is likely to register a CAGR of 6.6% over the forecast period 2022-2030
Global veterinary imaging market revenues will reach US$ 3.37 Bn by 2030, according to a study by Future Market Insights (FMI). The research study analyzes veterinary imaging market growth through 2030, in over 20+ countries. The study also offers incisive insights on key strategies of some of the leading players in the market.
According to the study, veterinary diagnostics market is witnessing investments, as pet humanization trend gains traction. Growing focus and government mandates on maintaining animal health is also likely to provide a boost to market growth.
The growth of the animal and pet care category as a whole will also spur growth. According to estimates from NAPHIA, the spending on pet food, pet insurance, and pet therapeutics have witnessed an increase in the recent past. The pet food category has in fact grown despite the Covid-19 crisis.
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The broader gains in this market are likely to rub off on veterinary imaging market as well during the assessment period.
- Animal healthcare being a costly affair, people are shifting their gears to pet insurance
- The veterinary imaging market is driven by an ever-increasing number of veterinarians adopting imaging devices with reagents associated with them, which include PET, MRI, X-Ray radiology devices, and CT scanners
- Multi-slice CT scan systems expected to drive the market in the forecast period
- Asia-Pacific is slowly picking up with people turning the tide in favour of pet care
- Adoption of magnetic resonance imaging (MRI) systems continue to grow at a steady pace
A Step Towards Better Future
In Aug 2020, the Veterinary Summer Scholars Symposium was held, which included 500+ veterinary students from all across the US, along with animal health leaders and researchers from close to 36 top veterinary schools.
This yearly scientific colloquium showcases research conducted by veterinary students who are on the verge of completion of summer research internships. Such symposiums are likely to compel more millennials to take up veterinary science in the due course of time.
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Key Participant Insights
The key market players are emphasizing on creating awareness about veterinary imaging devices to enter the untapped markets. For instance – in Oct 2018, GE Healthcare announced having inked a strategic agreement with SonoSim for encouraging training regarding ultrasound services.
The other players in the veterinary imaging market include Diagnostic Imaging System, Inc., Merry X-Ray, Carestream Health, Heska Corporation, Fujifilm Holding Corporation, Medical Imaging/IMCO, Inc., BCF, Esaote SpA.
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Future Market Insights brings the comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2030. The global veterinary imaging market is segmented in detail to cover every aspect and present a complete market intelligence approach to the reader.
The study provides compelling insights on veterinary imaging market on the basis of product type (Equipment (Radiography (X-ray) System (Computed Radiography, Film-based Radiography)), Ultrasound Imaging System (2D US Imaging, 3D US Imaging), Magnetic Resonance Imaging System, Computed Tomography System (Single Slice CT, Multi-Slice CT), Video Endoscopy Imaging System, and Others)), Software, and Imaging Reagents (Ultrasound Contrast Reagents, MRI Contrast Reagents, X-Ray/CT Contrast Reagents, and Nuclear Imaging Reagents), application (Cardiology, Orthopedic, Neurology, Oncology, and Others), animal type (small animal, large animal), end-user (Veterinary Clinics, Veterinary Hospitals, and Veterinary Institutes and Research Centers) across seven geographies.