Veterinary Imaging Market Size To Reach $2.9 Billion By 2030

The market is primarily being driven by increasing prevalence of zoonotic diseases, rising number of pet owners, growing adoption of pet insurance, and rapid technological advancements in veterinary imaging.

Veterinary Imaging Industry Overview

 

The global veterinary imaging market size was estimated at USD 1.8 billion in 2023 and is expected to grow at a CAGR of 7.01% from 2024 to 2030.

 

The market is primarily being driven by increasing prevalence of zoonotic diseases, rising number of pet owners, growing adoption of pet insurance, and rapid technological advancements in veterinary imaging.

 

Gather more insights about the market drivers, restrains and growth of the Veterinary Imaging Market

 

One such rapidly advancing technology is Artificial Intelligence (AI), especially incorporated into veterinary radiology and its respective software. It enables automated evaluation of various veterinary radiological parameters and directly uploads x-rays to servers securely. Implementing such AI-based strategies is a progressive step in veterinary practices. For instance, In April 2024, MiReye Imaging launched its unique product line of veterinary X-ray machines that use AI for the diagnosis of diseases in animals.

 

 

Furthermore, the rising incidence of zoonotic diseases has increased the demand for effective diagnostic solutions, which is expected to drive market growth. According to 2024 data by WHO, out of the total infectious diseases that occur in the world, 60% are reported to be of zoonotic origin. Moreover, in a 2024 publication, WHO states that in the last 30 years, out of the 30 new pathogens detected among humans, 75% were of animal origin. This compels veterinary professionals to perform in-depth diagnostic evaluations of animals to curb the spread of these zoonotic diseases from animals to humans.

 

The growing trend of pet humanization and the rising adoption of pet insurance in various countries have increased pet insurance enrollment rates globally. For instance, in a 2023 report by the North American Pet Health Insurance Association (NAPHIA), there are over 5.36 million insured pets in North America, and this number is expected to grow exponentially at a CAGR of 2.17%. Out of these insured pets, dogs account for the highest share of 80.1%, followed by cats with 19.9%. The overall number of pets insured in the U.S. increased from 3.1 million in 2020 to 4.8 million in 2022.

 

Browse through Grand View Research's Animal Health Industry Research Reports.

  • The global veterinary cardiology market size was estimated at USD 2.64 billion in 2023 and is projected to grow at a CAGR of 8.2% from 2024 to 2030.
  • The S. military animals market size was estimated at USD 38.18 million in 2023 and is estimated to grow at a CAGR of 7.8% from 2024 to 2030. 

 

Veterinary Imaging Market Segmentation

Grand View Research has segmented the global veterinary imaging market based on product, solutions, animal type, application, end use, and region:

Veterinary Imaging Product Outlook (Revenue, USD Million; 2018 - 2030)

  • X-ray
  • Ultrasound
  • MRI
  • CT Imaging
  • Video Endoscopy

Veterinary Imaging Solutions Outlook (Revenue, USD Million; 2018 - 2030)

  • Equipment
  • Accessories/ Consumables
  • PACS

Veterinary Imaging Animal Type Outlook (Revenue, USD Million; 2018 - 2030)

  • Small Animals
  • Large Animals

Veterinary Imaging Application Outlook (Revenue, USD Million; 2018 - 2030)

  • Orthopedics And Traumatology
  • Oncology
  • Cardiology
  • Neurology
  • Respiratory
  • Dental Application
  • Other

Veterinary Imaging End-use Outlook (Revenue, USD Million; 2018 - 2030)

  • Veterinary Clinics Hospitals
  • Other End-use

Veterinary Imaging Market Regional Outlook (Revenue, USD Million; 2018 - 2030)

  • North America
    • S.
    • Canada
  • Europe
    • Germany
    • K.
    • France
    • Italy
    • Spain
    • Netherlands
    • Sweden
    • Denmark
    • Norway
    • Poland
    • Rest of Europe
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Australia
    • Thailand
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Rest of Latin America
  • Middle East Africa    
    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of Middle East Africa

 

Key Companies profiled:

  • IDEXX Laboratories, Inc.
  • ESAOTE SPA
  • Mars, Inc.
  • GE HealthCare
  • Midmark Corporation
  • FUJIFILM Holdings America Corporation
  • Hallmarq Veterinary Imaging
  • Canon Medical Systems Corporation
  • Shenzhen Mindray Animal Medical Technology Co., Ltd.
  • IMV Imaging

 

Recent Developments

  • In April 2024, Asteris partnered with VetlinkPRO, intending to combine imaging technology with its practice management system
  • In June 2023, ESAOTE SPA launched the MyLab X90VET ultrasound system with patented Augmented Insight technology for precise and accurate diagnostic imaging.

 

Order a free sample PDF of the Veterinary Imaging Market Intelligence Study, published by Grand View Research.

 


meenal deshpande

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