Veterinary Imaging Growth Forecast 2025-2034: Trends, Opportunities, and Key Insights You Need to Know
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What is the Predicted CAGR for the Veterinary Imaging Market Over the Forecast Period of 2025 to 2034?
The market size for veterinary imaging has seen significant growth in the past few years. It’s expected to rise from $1.87 billion in 2024 to $2.02 billion in 2025, with a compound annual growth rate (CAGR) of 7.8%. The previous growth in this sector is due to the rise in pet ownership, developments in veterinary care, increasing instances of veterinary diseases, treatment of pets becoming more human-like, and the growth in the companion animal industry.
In the coming years, the veterinary imaging market size is anticipated to exhibit substantial growth, expanding to $2.74 billion by 2029 at a compound annual growth rate (CAGR) of 8.0%. This growth during the prediction period can be ascribed to factors such as a heightened emphasis on proactive veterinary healthcare, the growth of advanced veterinary services, worldwide enlargement of veterinary services, incorporation of advanced technology in veterinary practices, and a growing recognition of diseases transmitable to humans from animals. The forecast period is expected to see several trends, including tailoring for various animal species, the launch of 4D imaging technology, improvements in ultrasound technology, the rising utilization of digital radiography, and the increased application of veterinary imaging in scientific research.
Which Drivers Are Expected to Have the Greatest Impact on the veterinary imaging Market’s Growth?
The rise in demand for meat and dairy products is forecasted to fuel the expansion of the veterinary imaging market. When we talk about meat and dairy products, we refer to food items derived from animals like beef, pork, poultry, in addition to milk, cheese, and yogurt, among others. Veterinary imaging assumes a pivotal role in ascertaining the health and welfare of livestock animals, which form the foundation for meat and dairy production. For example, the OECD-FAO Agricultural Outlook 2022-2031, a report from the Organization for Economic Co-operation and Development, a governmental agency based in France, predicts that global meat production will escalate to 377 million tons by 2023. Thus, the surge in demand for meat and dairy products is propelling the veterinary imaging market.
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Who Are the Top Companies Driving Innovation and Growth in the Veterinary Imaging Market?
Major companies operating in the veterinary imaging market include:
• Agfa-Gevaert N.V._x000D_
• Canon Inc._x000D_
• Carestream Health_x000D_
• Draminski S.A._x000D_
• E.I. Medical Imaging_x000D_
What Key Trends Are Currently Impacting the Veterinary Imaging Market’s Development?
Leading businesses in the veterinary market are introducing ground-breaking products like the zero-helium small animal 1.5T MRI to enhance disease detection in animals. This inventive machine integrates a cooling system that operates in a powerful vacuum, thus eliminating the necessity for helium, a quench pipe, an oxygen monitor, a conventional external chiller, or any extra power. For instance, in April 2023, UK-based diagnostic imaging service provider, Hallmarq Veterinary Imaging, unveiled the Zero-helium small animal 1.5T MRI. This machine is intended to broaden access to diagnostic care for small animal patients while lowering the financial, environmental, and supply chain risks tied to traditional helium-based MRI systems. It signifies an evolutionary progression from Hallmarq’s earlier systems, merging the proven efficiency of its prior machines with a more eco-friendly cooling system.
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How Are the Key Segments of the Veterinary Imaging Market Driving Opportunities and Innovations?
The veterinary imaging market covered in this report is segmented –
1) By Product: Veterinary Imaging Instruments, Veterinary Software, Veterinary Imaging Reagents
2) By Animal Type: Small Companion Animals, Large Animals
3) By Application: Orthopedics And Traumatology, Oncology, Cardiology, Neurology
4) By End-Use: Veterinary Clinics And Hospitals, Other End-Uses
Subsegments:
1) By Veterinary Imaging Instruments: X-Ray Machines, Ultrasound Machines, MRI Machines, CT Scanners, Endoscopes
2) By Veterinary Software: Imaging Software, Practice Management Software, Radiology Information Systems (RIS), Picture Archiving And Communication Systems (PACS)
3) By Veterinary Imaging Reagents: Contrast Agents, Radiopharmaceuticals, Ultrasound Contrast Agents
Which Geographical Regions Are Pioneering Growth in the Veterinary Imaging Market?
North America was the largest region in the veterinary imaging market in 2024. The regions covered in the veterinary imaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
What Are the Key Characteristics That Define the Veterinary Imaging Market?
Veterinary imaging is a diagnostic tool that allows veterinarians to obtain detailed images of internal structures of the animal’s body to help identify and diagnose medical conditions.
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