Veterinary Imaging Market by Product (Instrument, Reagents, Services), Animal Type (Large Animals, Small Companion Animals), Application, End-user - Global Forecast 2024-2030
Description
Veterinary Imaging Market by Product (Instrument, Reagents, Services), Animal Type (Large Animals, Small Companion Animals), Application, End-user - Global Forecast 2024-2030
The Veterinary Imaging Market size was estimated at USD 2.07 billion in 2023 and expected to reach USD 2.22 billion in 2024, at a CAGR 7.43% to reach USD 3.43 billion by 2030.
Veterinary imaging involves various techniques used to visualize and diagnose animal health issues. It includes methods including X-rays, ultrasound, CT scans, MRIs, and endoscopy, which help veterinarians examine internal organs, bones, tissues, and overall health in pets and larger animals. It caters to applications in orthopedics, cardiology, oncology, and neurology, among other specialties, and is employed in different settings such as veterinary hospitals & clinics, and research institutions. The veterinary imaging market is experiencing growth due to various factors, including increased pet adoption, rising veterinary healthcare expenditure, and advancements in imaging technology. However, high costs associated with advanced imaging modalities and a shortage of veterinary professionals with the expertise to interpret complex imaging results accurately can hinder the market's potential. Furthermore, advancements in veterinary imaging instruments and government investments to improve veterinary diagnostic services are expected to offer significant growth opportunities for the veterinary imaging market.
Regional Insights
The American region exhibits a mature veterinary imaging market owing to factors such as high pet ownership rates, advanced healthcare infrastructure, and well-established animal healthcare regulations that contribute to robust market dynamics. The EMEA countries, including Germany, France, and the UK, show significant adoption rates of veterinary imaging services fueled by stringent animal health regulations, high standards of veterinary practice, and substantial pet insurance coverage. Countries, including the UAE and Saudi Arabia, are progressively improving their animal healthcare systems, encouraging the import of high-quality veterinary imaging products. They are increasingly focused on comprehensive pet care services, which boosts market development. Moreover, the Asia-Pacific region is witnessing rapid growth due to rising pet adoption, increasing discretionary income, and expanding awareness about animal health. Countries including China, Japan, and India present a lucrative market underpinned by advanced technological infrastructure and a strong economy. There is a significant demand for high-end imaging modalities in the APAC region due to the prioritization of quality healthcare for pets. Additionally, government investments in the veterinary imaging sector from private and public sources in the APAC region aimed to improve service delivery are expected to boost the market growth.
Market Insights
Market Dynamics
The market dynamics represent an ever-changing landscape of the Veterinary Imaging Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
Market Drivers
- Increasing number of companion animal and livestock ownership
- Rising incidence of chronic diseases and accidental injuries in animals coupled with surge in expenditure on animal health
- Capital-intensive veterinary imaging instruments
- Significant government investment and initiatives to improve veterinary diagnostic services
- Ongoing advancements in veterinary imaging instruments
- Limitations associated with dearth of veterinary practitioners in developing economies
- Product: Growing adoption of ultrasound imaging due to its ease of use, and less expensive than most other imaging methods
- Animal Type: Significant use of veterinary imaging for diagnosing small animals
- Application: Expanding use of veterinary imaging for diagnosing orthopedics & traumatology in animals
- End-Users: Burgeoning demand for veterinary imaging from veterinary clinics
- Porter’s Five Forces Analysis
- Value Chain & Critical Path Analysis
- Pricing Analysis
- Technology Analysis
- Patent Analysis
- Trade Analysis
- Regulatory Framework Analysis
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Veterinary Imaging Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Veterinary Imaging Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Recent Developments
Luxvet Group Expands Into Romanian Veterinary Market
In a significant move for the expansion of veterinary services in Europe, LuxVet Group penetrated the Romanian market, thereby solidifying its position as a key player in the veterinary imaging sector. This strategic market entry is anticipated to enhance the quality of veterinary care in Romania by introducing advanced imaging technologies and expertise. LuxVet Group's enlargement into this new market is in line with their goal to extend their reach and offer state-of-the-art veterinary solutions across the continent.
Hallmarq Veterinary Imaging’s New U.S. Facility Meets Rising Demand For Equine MRI And CT Systems
Hallmarq Veterinary Imaging has expanded its operational capacity with the opening of a new facility in the United States, which underscores its commitment to meeting the growing demands for equine MRI and CT systems. This strategic move is poised to enhance Hallmarq's ability to provide advanced diagnostic capabilities to veterinary practices, ensuring quick and efficient service and support.
Antech Launches First Comprehensive Veterinary Diagnostics Offering in the UK, Including a New State-Of-The-Art Reference Laboratory
Antech Diagnostics unveiled its first all-encompassing suite of diagnostic services, including a cutting-edge reference laboratory in the UK. This pioneering initiative marks a new epoch in pet healthcare by integrating Antech's state-of-the-art imaging, precision diagnostics, and reference laboratory services, delivering unparalleled support to veterinarians across the region. This strategic move amplifies the capability of veterinary professionals to offer top-tier diagnostic services and reflects Antech's commitment to elevating the standard of care for animals, ensuring they have access to timely and accurate medical evaluations.
Strategy Analysis & Recommendation
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Veterinary Imaging Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
Key Company Profiles
The report delves into recent significant developments in the Veterinary Imaging Market, highlighting leading vendors and their innovative profiles. These include Agfa-Gevaert Group, Antech Diagnostics, Inc., BMV MEDTECH GROUP CO., LTD, Canon Inc., Carestream Health, Inc., CHISON Medical Technologies Co., Ltd., Clarius Mobile Health Corp., Covetrus, Inc., Dentalaire, International, DRAMIŃSKI S. A., E.I. Medical Imaging, Edan Instruments, Inc., Esaote S.p.A, FUJIFILM Holdings Corporation, GE HealthCare Technologies Inc., Hallmarq Veterinary Imaging Limited, Heska Corporation by Mars, Incorporated, IDEXX Laboratories, Inc., IM3 Inc., IMV Imaging (UK) Ltd., Interson Corporation, Konica Minolta, Inc., Leltek Inc., Lepu Medical Technology(Beijing)Co.,Ltd., MinXray, Inc., Promed Technology Co., Ltd., ReproScan, Samsung Electronics Co., Ltd., Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Siemens AG, SonoScape Medical Corp., and Xoran Technologies LLC.
Market Segmentation & Coverage
This research report categorizes the Veterinary Imaging Market to forecast the revenues and analyze trends in each of the following sub-markets:
- Product
- Instrument
- CT Imaging
- Multi-Slice CT
- Single-Slice CT
- Radiography X-ray
- Computed Radiography
- Direct Radiography
- Film-Based Radiography
- Ultrasound Imaging
- 2-D Ultrasound Imaging
- 3-D/4-D Ultrasound Imaging
- Doppler Imaging
- Video Endoscopy Imaging
- Reagents
- MRI Contrast Regents
- Nuclear Imaging
- Ultrasound Contrast Regents
- X-Ray/CT Contrast Reagents
- Services
- After-sales Services
- Installation & Integration Services
- Software & Solutions
- Animal Type
- Large Animals
- Small Companion Animals
- Application
- Cardiology
- Neurology
- Oncology
- Orthopedics & Traumatology
- End-user
- Academic Institutions
- Veterinary Clinics & Diagnostic Centers
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
Please Note: PDF & Excel + Online Access - 1 Year
Table of Contents
183 Pages
- 1. Preface
- 1.1. Objectives of the Study
- 1.2. Market Segmentation & Coverage
- 1.3. Years Considered for the Study
- 1.4. Currency & Pricing
- 1.5. Language
- 1.6. Stakeholders
- 2. Research Methodology
- 2.1. Define: Research Objective
- 2.2. Determine: Research Design
- 2.3. Prepare: Research Instrument
- 2.4. Collect: Data Source
- 2.5. Analyze: Data Interpretation
- 2.6. Formulate: Data Verification
- 2.7. Publish: Research Report
- 2.8. Repeat: Report Update
- 3. Executive Summary
- 4. Market Overview
- 5. Market Insights
- 5.1. Market Dynamics
- 5.1.1. Drivers
- 5.1.1.1. Increasing number of companion animal and livestock ownership
- 5.1.1.2. Rising incidence of chronic diseases and accidental injuries in animals coupled with surge in expenditure on animal health
- 5.1.2. Restraints
- 5.1.2.1. Capital-intensive veterinary imaging instruments
- 5.1.3. Opportunities
- 5.1.3.1. Significant government investment and initiatives to improve veterinary diagnostic services
- 5.1.3.2. Ongoing advancements in veterinary imaging instruments
- 5.1.4. Challenges
- 5.1.4.1. Limitations associated with dearth of veterinary practitioners in developing economies
- 5.2. Market Segmentation Analysis
- 5.2.1. Product: Growing adoption of ultrasound imaging due to its ease of use, and less expensive than most other imaging methods
- 5.2.2. Animal Type: Significant use of veterinary imaging for diagnosing small animals
- 5.2.3. Application: Expanding use of veterinary imaging for diagnosing orthopedics & traumatology in animals
- 5.2.4. End-Users: Burgeoning demand for veterinary imaging from veterinary clinics
- 5.3. Market Trend Analysis
- 5.3.1. Advancing product portfolios for veterinary imaging in the Americas
- 5.3.2. Rising livestock population with expanding pet care facilities in the Asia-Pacific
- 5.3.3. Government initiatives for animal welfare coupled with growing zoonotic disease in the EMEA region
- 5.4. Cumulative Impact of High Inflation
- 5.5. Porter’s Five Forces Analysis
- 5.5.1. Threat of New Entrants
- 5.5.2. Threat of Substitutes
- 5.5.3. Bargaining Power of Customers
- 5.5.4. Bargaining Power of Suppliers
- 5.5.5. Industry Rivalry
- 5.6. Value Chain & Critical Path Analysis
- 5.7. Regulatory Framework Analysis
- 6. Veterinary Imaging Market, by Product
- 6.1. Introduction
- 6.2. Instrument
- 6.3. Reagents
- 6.4. Services
- 6.5. Software & Solutions
- 7. Veterinary Imaging Market, by Animal Type
- 7.1. Introduction
- 7.2. Large Animals
- 7.3. Small Companion Animals
- 8. Veterinary Imaging Market, by Application
- 8.1. Introduction
- 8.2. Cardiology
- 8.3. Neurology
- 8.4. Oncology
- 8.5. Orthopedics & Traumatology
- 9. Veterinary Imaging Market, by End-user
- 9.1. Introduction
- 9.2. Academic Institutions
- 9.3. Veterinary Clinics & Diagnostic Centers
- 10. Americas Veterinary Imaging Market
- 10.1. Introduction
- 10.2. Argentina
- 10.3. Brazil
- 10.4. Canada
- 10.5. Mexico
- 10.6. United States
- 11. Asia-Pacific Veterinary Imaging Market
- 11.1. Introduction
- 11.2. Australia
- 11.3. China
- 11.4. India
- 11.5. Indonesia
- 11.6. Japan
- 11.7. Malaysia
- 11.8. Philippines
- 11.9. Singapore
- 11.10. South Korea
- 11.11. Taiwan
- 11.12. Thailand
- 11.13. Vietnam
- 12. Europe, Middle East & Africa Veterinary Imaging Market
- 12.1. Introduction
- 12.2. Denmark
- 12.3. Egypt
- 12.4. Finland
- 12.5. France
- 12.6. Germany
- 12.7. Israel
- 12.8. Italy
- 12.9. Netherlands
- 12.10. Nigeria
- 12.11. Norway
- 12.12. Poland
- 12.13. Qatar
- 12.14. Russia
- 12.15. Saudi Arabia
- 12.16. South Africa
- 12.17. Spain
- 12.18. Sweden
- 12.19. Switzerland
- 12.20. Turkey
- 12.21. United Arab Emirates
- 12.22. United Kingdom
- 13. Competitive Landscape
- 13.1. Market Share Analysis, 2023
- 13.2. FPNV Positioning Matrix, 2023
- 13.3. Competitive Scenario Analysis
- 13.3.1. Luxvet Group Expands Into Romanian Veterinary Market
- 13.3.2. Hallmarq Veterinary Imaging’s New U.S. Facility Meets Rising Demand For Equine MRI And CT Systems
- 13.3.3. Antech Launches First Comprehensive Veterinary Diagnostics Offering in the UK, Including a New State-Of-The-Art Reference Laboratory
- 13.3.4. vTRON Delivers Detailed Diagnostic Imaging to Singapore’s Bird Paradise
- 13.3.5. Bond Vet Receives USD 50 Million Funding Round to Further Expansion
- 13.3.6. Cutting-Edge Diagnostic Imaging Facility To Detect And Prevent Injuries In WA Horses
- 13.3.7. Mars Completes Acquisition of SYNLAB Vet, a European Provider of Specialist Veterinary Laboratory Diagnostics
- 13.3.8. Sunset Vet Launches First CT Scanner for Pets in Indonesia
- 13.3.9. The IMV Technologies Group Acquires Veterinary Solutions
- 13.3.10. Probo Medical Completes Acquisition of National Ultrasound
- 13.3.11. Probo Medical Partners with Mindray Animal
- 13.3.12. Hallmarq Launches World’s First Veterinary-Specific, Zero-Helium Small Animal 1.5T MRI
- 13.3.13. Sound Technologies and GE HealthCare Announce Collaboration to Bring Vscan Air Handheld Ultrasound to Veterinary Practices Across the United States
- 13.3.14. Multi Radiance Veterinary Partners with Digatherm Thermal Imaging as the Worldwide Exclusive Distributor of Leading-Edge Veterinary Thermography Products
- 14. Competitive Portfolio
- 14.1. Key Company Profiles
- 14.2. Key Product Portfolio
Pricing
Currency Rates
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