Key Trends and Insights into the Veterinary Imaging Market: Growth Rate and Opportunities to 2034
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How has the veterinary imaging market grown over the years?
In recent times, the veterinary imaging market has seen significant growth. The market value is predicted to rise from $1.87 billion in 2024 to $2.02 billion in 2025, with a compound annual growth rate (CAGR) of 7.8%. This past growth is largely due to factors such as an increase in pet ownership, improvements in veterinary care, the incidence of veterinary diseases, the trend of treating pets as family members, and the expansion of the companion animal industry.
What Is the forecasted market size and growth rate for the veterinary imaging market?
Over the upcoming years, the veterinary imaging market is projected to experience significant growth, reaching $2.74 billion by 2029 with an 8.0% compound annual growth rate (CAGR). This anticipated growth can be ascribed to factors like the heightened emphasis on preventive veterinary care, an uptick in specialized veterinary services, global proliferation of veterinary services, technological advancements within veterinary practices, and increasing awareness of zoonotic diseases. Key emerging trends in the forecast period encompass the tailoring of services to accommodate various animal species, the emergence of 4D imaging technology, improvements in ultrasound technology, the growing utilization of digital radiography, and the application of veterinary imaging in scientific research.
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What are the major factors driving growth in the veterinary imaging market?
The surge in the need for meat and dairy products is set to invigorate the expansion of the market for veterinary imaging. Animal-based food products such as beef, pork, poultry, milk, cheese, and yogurt are examples of meat and dairy products. Veterinary imaging is pivotal in guaranteeing livestock animals’, used for meat and dairy production, health and welfare. The Organization for Economic Co-operation and Development reports in the OECD-FAO Agricultural Outlook 2022-2031 that global meat production is expected to hit 377 million tons come 2023, illustrating this point. Thus, the veterinary imaging market is being fueled by the growing demand for meat and dairy products.
What key areas define the segmentation of the global veterinary imaging Market?
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
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What are the top market players propelling the growth of the veterinary imaging industry?
Major companies operating in the veterinary imaging market include Agfa-Gevaert N.V., Canon Inc., Carestream Health, Draminski S.A., E.I. Medical Imaging, Esaote S.P.A., Fujifilm Holdings Corporation, GE Healthcare, Heska Corporation, IDEXX Laboratories Inc., Konica Minolta Inc., MinXray Inc., Clarius Mobile Health, Shenzhen Ricso Technology Co. Ltd., ClearVet Digital Radiography Systems, Mindray Medical International Limited, Siemens Healthineers, Samsung Electronics Co. Ltd., IMV imaging, Epica Animal Health, Hallmarq Veterinary Imaging, Hitachi Ltd., NeuroLogica Corp., Oncovision, PerkinElmer Inc., Planmed Oy, Sedecal Veterinary, Shantou Institute of Ultrasonic Instruments Co. Ltd, Shimadzu Corporation, Sonoscape Medical Corp., Toshiba Medical Systems Corporation, Trixell, Varex Imaging Corporation, Vetel Diagnostics, VetRocket LLC, Vieworks Co. Ltd., Xoran Technologies LLC, Ziehm Imaging GmbH
What are the key trends shaping the future of the veterinary imaging market?
Leading firms in the veterinary market are revolutionizing their offerings with cutting-edge products like zero-helium small animal 1.5T MRI, which aims to improve disease detection in animals. This revolutionary equipment adopts a conduction-based cooling mechanism inside a strong vacuum, removing the necessity for helium, quench pipes, oxygen monitors, conventional external chillers, or any extra power. For example, Hallmarq Veterinary Imaging, a UK-based provider of diagnostic imaging services, introduced the Zero-helium small animal 1.5T MRI in April 2023. The design of this machine focuses on enhancing diagnostic care availability for small animal patients while mitigating financial, environmental, and supply chain risks linked with conventional helium-based MRI systems. It signifies a key progression from Hallmarq’s earlier systems, blending the established efficiency of prior equipment with a more eco-friendly cooling system.
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What regions are dominating the veterinary imaging market growth?
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
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