The Worldwide Veterinary Imaging Industry is Expected to Reach $2.3 Billion by 2026
DUBLIN, Jan. 28, 2022 /PRNewswire/ -- The "Veterinary Imaging Market by Product (Ultrasound (2D, 3D, Doppler), X-Ray (CR, DR), MRI, CT, Software, Reagent), Therapeutic Area (Orthopedics, Gynecology, Oncology, Dentistry), Animal (Small, Large), End User (Hospital, Clinic) - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The veterinary imaging market is expected to reach USD 2.3 billion by 2026 from an estimated USD 1.6 billion in 2021, at a CAGR of 7.0%.
Based on product, the veterinary imaging instruments segment holds the largest share during the forecast period.
Based on product, the veterinary imaging market is segmented into instruments, reagents, and software. In 2020, the instruments segment accounted for the largest share of the market. The large share of this segment is attributed to the high cost of imaging instruments and the increasing adoption of imaging modalities for disease diagnosis in the treatment of companion animals and livestock.
Veterinary imaging instruments include radiography (X-ray) imaging systems, ultrasound imaging systems, computed tomography imaging systems, magnetic resonance imaging systems, video endoscopy imaging systems, and other imaging systems.
Based on the therapeutic area, the orthopedics & traumatology segment holds the highest growth during the forecast period.
Based on the therapeutic area, the veterinary imaging market is categorized into orthopedics & traumatology, obstetrics and gynecology, oncology, cardiology, neurology, dentistry, and other therapeutic areas. In 2020, the orthopedics & traumatology segment accounted for the largest share of the market. The large share of this segment can mainly be attributed to the increasing incidence of bone injuries and the rising prevalence of arthritis and lameness disease.
Based on animal type, the small companion animal segment holds the largest share during the forecast period
Based on animal type, the veterinary imaging market is segmented into small companion animals, large animals, and other animals. The small companion animal segment accounted for the largest share of the market in 2020. The large share of this segment is attributed to the increasing adoption of companion animals, rising animal healthcare expenditure, growing demand for pet insurance in developed countries, and the increasing incidence of disease outbreaks in companion animals.
Based on end-user, the Veterinary clinics and diagnostic centers segment holds the largest share during the forecast period.
Based on end-users, the veterinary imaging market is segmented into veterinary clinics & diagnostic centers and veterinary hospitals & academic institutions. Veterinary clinics and diagnostic centers accounted for the largest share of the market in 2020. The large share of this segment is attributed to the increasing number of veterinarians and the growing number of private clinical practices across the globe.
APAC is expected to grow at the highest growth rate in 2020
The Asia Pacific region is expected to register the highest CAGR during the forecast period. Growing pet adoption, increasing awareness about animal health, and growing per capita animal health expenditure, especially in India and China, are contributing to the growth of the APAC veterinary imaging market.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Veterinary Imaging Market Overview
4.2 Asia-Pacific: Veterinary Imaging Market, by Product
4.3 Veterinary Imaging Market: Geographic Growth Opportunities
4.4 Veterinary Imaging Market, by Region
4.5 Veterinary Imaging Market: Developed Vs. Developing Markets
5 Market Overview
5.1 Market Dynamics
5.1.1 Market Drivers
5.1.1.1 Increasing Rate of Companion Animal Population
5.1.1.2 Rising Demand for Pet Insurance and An Increasing Amount of Animal Health Expenditure
5.1.1.3 Growing Number of Veterinary Practitioners and Their Rising Income Levels in Developed Economies
5.1.1.4 Rising Demand for Animal-Derived Food Products
5.1.1.5 Growing Prevalence of Animal Diseases
5.1.2 Market Restraints
5.1.2.1 High Cost of Veterinary Imaging Instruments
5.1.2.2 Rising Rate of Pet Care Costs
5.1.3 Market Opportunities
5.1.3.1 Untapped Emerging Markets
5.1.4 Market Challenges
5.1.4.1 Lack of Animal Healthcare Awareness in Emerging Countries
5.1.4.2 Shortage of Veterinary Practitioners in Developing Markets
5.2 Industry Trends
5.2.1 Portable and Battery-Powered Imaging Instruments for Point-Of-Care Services
5.2.2 Growing Consolidation in the Veterinary Imaging Market
5.2.3 Growing Size of Veterinary Businesses
5.3 Value Chain Analysis
5.4 Supply Chain Analysis
5.5 Pricing Analysis
5.6 Ecosystem Mapping
5.7 Porter's Five Forces Analysis
5.7.1 Threat of New Entrants
5.7.2 Threat of Substitutes
5.7.3 Bargaining Power of Suppliers
5.7.4 Bargaining Power of Buyers
5.7.5 Intensity of Rivalry
5.8 Regulatory Analysis
5.9 Impact of COVID-19 on the Veterinary Imaging Market
5.10 Patent Analysis
5.11 Case Study Analysis
5.12 Adjacent Market Analysis
5.13 Technology Analysis
6 Global Veterinary Imaging Market, by Product
6.1 Introduction
6.2 Veterinary Imaging Instruments
6.2.1 Radiography(X-Ray) Imaging Systems
6.2.1.1 Computed Radiography Systems
6.2.1.1.1 Computed Radiography Systems to Account for the Largest Share of the Veterinary X-Ray Segment in 2020
6.2.1.2 Direct Radiography Systems
6.2.1.2.1 Direct Radiography Systems to be the Fastest-Growing Technology Segment During the Forecast Period
6.2.1.3 Film-Based Radiography Systems
6.2.1.3.1 Demand for Film-Based Radiography Systems to be High Emerging Markets Due to Cost-Effectiveness
6.2.2 Ultrasound Imaging Systems
6.2.2.1 2D Ultrasound Imaging Systems
6.2.2.1.1 2D Ultrasound Segment to Account for the Largest Share of the Veterinary Ultrasound Market
6.2.2.2 3D/4D Ultrasound Imaging Systems
6.2.2.2.1 3D/4D Technology to Provide Data Regarding Pregnancy Status, Birth Prediction and Improves the Diagnostic Confidence
6.2.2.3 Doppler Ultrasound Imaging Systems
6.2.2.3.1 Color Doppler to be Used in Veterinary Sonography Evaluations
6.2.3 Computed Tomography Imaging Systems
6.2.3.1 Multi-Slice Computed Tomography (Ct) Systems
6.2.3.1.1 Multi-Slice Ct Systems Segment to Account for the Largest Share of the Veterinary Ct Systems Market in 2020
6.2.3.2 Portable Computed Tomography Systems
6.2.3.2.1 Increasing Adoption of Portable Ct Systems for Mobile or Ambulatory Veterinary Diagnosis to Drive Market Growth
6.2.4 Video Endoscopy Imaging Systems
6.2.4.1 Recent Technological Advancements in Video Endoscope Imaging to Drive the Growth of this Segment
6.2.5 Magnetic Resonance Imaging Systems
6.2.5.1 Lack of Radiation Exposure and Increased Demand for Mobile Imaging to Boost the Adoption of Mri Systems
6.2.6 Other Imaging Systems
6.3 Veterinary Imaging Reagents
6.3.1 X-Ray and Ct Contrast Reagents
6.3.1.1 Growing Need for Neurology Applications to Boost the Demand for X-Ray and Ct Contrast Reagents
6.3.2 Mri Contrast Reagents
6.3.2.1 Mri Contrast Reagents to Enhance the Visibility of Internal Structures of a Body During Mri Scans
6.3.3 Ultrasound Contrast Reagents
6.3.3.1 Ultrasound Contrast Reagents to Enhance the Therapeutic Applications of Ultrasound in Cardiology
6.4 Veterinary Imaging Software
6.4.1 Improved Productivity and Streamlined Workflows to Drive the Adoption of Veterinary Software
7 Global Veterinary Imaging Market, by Therapeutic Area
7.1 Introduction
7.2 Orthopedics and Traumatology
7.2.1 Increasing Prevalence of Arthritis, Lameness Diseases, and Joint Disorders in Livestock and Companion Animals to Drive the Adoption of Technological Advanced Imaging Modalities
7.3 Obstetrics & Gynecology
7.3.1 Ultrasound to be Used for Obstetrics and Gynecological Examinations in Animals
7.4 Oncology
7.4.1 Increasing Prevalence of Cancer in Companion Animals to Aid Market Growth
7.5 Cardiology
7.5.1 Growth in the Aging Pet Population and Obesity to Drive the Prevalence of Cardiovascular Diseases in Animals
7.6 Neurology
7.6.1 Increasing Incidence of Brain Disorders Coupled with Growing Awareness About Companion Animal Health to Drive Market Growth
7.7 Dentistry
7.7.1 Increasing Prevalence of Dental Diseases in Animals to Drive the Adoption of Radiography Systems
7.8 Other Therapeutic Areas
8 Global Veterinary Imaging Market, by Animal Type
8.1 Introduction
8.2 Small Companion Animals
8.2.1 Rising Population of Small Companion Animals, Along with Increasing Pet Care Expenditure and Adoption of Pet Insurance to Drive Market Growth
8.3 Large Animals
8.3.1 Growing Demand for Accurate Imaging and Diagnosis of Diseases in Large Animals to Aid Market Growth
8.4 Other Animals
9 Global Veterinary Imaging Market, by End-user
9.1 Introduction
9.2 Veterinary Clinics and Diagnostic Centers
9.2.1 Veterinary Clinics and Diagnostic Centers to be the Largest End-user of Veterinary Monitoring Equipment
9.3 Veterinary Hospitals and Academic Institutions
9.3.1 Increase in Pet Care Expenditure to Stimulate the Growth
10 Global Veterinary Imaging Market, by Region
11 Competitive Landscape
11.1 Overview
11.2 Key Player Strategies
11.3 Revenue Share Analysis of the Top Market Players
11.4 Market Share Analysis
11.4.1 Veterinary Radiography (Xray) Imaging Market
11.4.2 Veterinary Ultrasound Market
11.4.3 Veterinary Mri Market
11.4.4 Veterinary Ct Market
11.5 Company Evaluation Quadrant
11.5.1 Stars
11.5.2 Emerging Leaders
11.5.3 Pervasive Players
11.5.4 Participants
11.6 Company Evaluation Quadrant for Start-Ups
11.6.1 Progressive Companies
11.6.2 Dynamic Companies
11.6.3 Starting Blocks
11.6.4 Responsive Companies
11.7 Company Product Footprint
11.8 Geographic Footprint of the Major Players in the Veterinary Imaging Market
11.9 Competitive Scenario
11.9.1 Product Launches and Upgrades
11.9.2 Deals
11.9.3 Other Developments
12 Company Profiles
12.1 Key Players
12.1.1 GE Healthcare (A Division of General Electric Company)
12.1.2 Agfa-Gevaert N.V.
12.1.3 Carestream Health (A Subsidiary of Onex Corporation)
12.1.4 Esaote S.P.A.
12.1.5 Idexx Laboratories, Inc.
12.1.6 Mindray Medical International Limited
12.1.7 Canon Inc. (Toshiba Medical Systems Corporation)
12.1.8 Heska Corporation
12.1.9 Siemens Healthineers (A Subsidiary of Siemens Group)
12.1.10 Fujifilm Holdings Corporation
12.1.11 Konica Minolta Inc.
12.1.12 Samsung Electronics Co. Ltd.
12.1.13 E.I. Medical Imaging
12.1.14 Imv Imaging
12.1.15 Sedecal
12.2 Other Players
12.2.1 Clarius Mobile Health
12.2.2 Shenzhen Ricso Technology Co. Ltd.
12.2.3 Draminski S.A.
12.2.4 Epica Animal Health
12.2.5 Clearvet Digital Radiography Systems
12.2.6 Minxray Inc.
12.2.7 Hallmarq Veterinary Imaging
12.2.8 Shantou Institute of Ultrasonic Instruments Co. Ltd.
12.2.9 Sonoscape Medical Corp.
12.2.10 Reproscan
13 Appendix
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