Veterinary Imaging Market Insights By Type, Industry, Application & End-User | FMI
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.
|Veterinary Imaging Market Size (2022)||US$ 2.02 Bn|
|Sales Forecast (2030)||US$ 3.37 Bn|
|Global Market Growth Rate (2022 to 2030)||6.6% CAGR|
|North America Region USD Share||46.1%|
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.
The broader gains in this market are likely to rub off on veterinary imaging market as well during the assessment period.
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List of Key Players Covered in Veterinary Imaging market are:
- IDEXX Laboratories, Inc.
- IMV Technologies group
- Carestream Health
- Hallmarq Veterinary Imaging Ltd.
- MinXray, Inc.
- Universal Medical Systems, Inc.
- Agfa- Gevaert N.V.
- Mindray Medical International Ltd.
- GE Healthcare
- Siemens AG
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.
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- 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
As per the American Pet Products Association, more than 44% of households owned dogs and 35% owned cats in the U.S. This number is expected to witness an upswing over the forecast period.
The market in China is expected to witness a considerable expansion, due to the rising awareness of veterinary imaging and the growing popularity of companion animals. The rising preference for innovative veterinary imaging systems will spur the market demand.
Veterinary Imaging Market by Region:
- North America Veterinary Imaging Market
- Latin America Veterinary Imaging Market
- Europe Veterinary Imaging Market
- East Asia Veterinary Imaging Market
- South Asia & Pacific Veterinary Imaging Market
- Middle East & Africa (MEA) Veterinary Imaging Market
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ABOUT FUTURE MARKET INSIGHTS, INC.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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