Dublin, Jan. 06, 2025 (GLOBE NEWSWIRE) — The “Veterinary Diagnostic Imaging Market Report and Forecast 2024-2032” report has been added to ResearchAndMarkets.com’s offering.
The global veterinary diagnostic imaging market was valued at USD 1.9 billion in 2023. It is expected to grow at a CAGR of 7.23% in the forecast period of 2024-2032 and attain a market value of USD 3.6 billion by 2032.
The global veterinary diagnostic imaging market is a rapidly growing sector within the veterinary healthcare industry. This market encompasses a range of imaging technologies, including X-ray, ultrasound, magnetic resonance imaging (MRI), and computed tomography (CT), which are used to diagnose and monitor various conditions in animals. Veterinary diagnostic imaging plays a crucial role in enhancing the accuracy of diagnoses, improving treatment outcomes, and ultimately advancing animal health and welfare.
Several key factors are driving the growth of the veterinary diagnostic imaging market:
- Increasing Pet Ownership and Spending on Pet Healthcare: There has been a significant rise in pet ownership worldwide, particularly in developing regions. Pet owners are increasingly willing to spend on advanced healthcare services, including diagnostic imaging, to ensure the well-being of their pets.
- Advancements in Imaging Technologies: Continuous technological advancements in imaging modalities have led to the development of more sophisticated, accurate, and non-invasive diagnostic tools. Innovations such as 3D imaging, portable imaging devices, and enhanced software for image analysis are propelling market growth.
- Growing Awareness of Animal Health: Increasing awareness about animal health and the importance of early diagnosis of diseases among pet owners and veterinary professionals is driving the demand for diagnostic imaging services. This awareness is further supported by initiatives and campaigns from veterinary organisations and animal welfare groups.
- Rising Incidence of Animal Diseases: There is a growing prevalence of chronic diseases, injuries, and age-related conditions in animals, necessitating the use of diagnostic imaging for accurate diagnosis and treatment planning. Conditions such as cancer, orthopaedic disorders, and cardiovascular diseases are becoming more common, thereby increasing the need for advanced diagnostic tools.
Despite the positive market drivers, the veterinary diagnostic imaging market faces several challenges:
- High Costs of Imaging Equipment: The initial investment and maintenance costs of advanced imaging equipment are substantial, which can be a barrier for small and mid-sized veterinary practices. This high cost can limit the adoption of these technologies, particularly in developing regions.
- Lack of Skilled Professionals: The operation and interpretation of advanced imaging equipment require specialised training and expertise. There is a shortage of skilled veterinary radiologists and technicians, which can hinder the effective utilisation of these technologies.
- Regulatory and Ethical Concerns: The use of certain imaging modalities, such as MRI and CT, involves exposure to radiation, raising regulatory and ethical concerns. Ensuring compliance with safety standards and addressing ethical issues related to animal welfare are ongoing challenges.
Future Opportunities
The global veterinary diagnostic imaging market is poised for significant growth, with several future opportunities on the horizon:
- Expansion into Emerging Markets: Developing regions, particularly in Asia-Pacific and Latin America, present significant growth opportunities due to increasing pet ownership, rising disposable incomes, and improving veterinary healthcare infrastructure. Market players can capitalise on these opportunities by expanding their presence and offering affordable imaging solutions tailored to these markets.
- Integration of Artificial Intelligence (AI): The integration of AI and machine learning in veterinary diagnostic imaging can enhance image analysis, improve diagnostic accuracy, and streamline workflows. AI-powered tools can assist in detecting abnormalities, predicting disease progression, and providing decision support to veterinarians.
- Telemedicine and Remote Imaging Services: The adoption of telemedicine and remote diagnostic imaging services is expected to grow, particularly in rural and underserved areas. These services can provide access to specialised diagnostic expertise and improve the availability of advanced imaging solutions.
- Personalised Veterinary Medicine: The trend towards personalised medicine, driven by advancements in genomics and molecular diagnostics, is expected to influence the veterinary diagnostic imaging market. Imaging technologies can play a crucial role in tailoring treatment plans based on individual animal characteristics and disease profiles.
Global Veterinary Diagnostic Imaging Market Trends
The global veterinary diagnostic imaging market is witnessing significant advancements driven by increasing demand for improved animal healthcare and rapid technological innovations. As pet ownership continues to rise globally, the need for accurate and early diagnosis of animal diseases is becoming more crucial.
- Adoption of Digital Imaging Solutions: There is a growing shift from traditional analogue imaging systems to digital imaging solutions. Digital radiography and digital ultrasound offer enhanced image quality, ease of storage and retrieval, and the ability to share images electronically for consultations and second opinions. This transition is improving diagnostic accuracy and workflow efficiency in veterinary practices.
- Point-of-Care Imaging Devices: The development and adoption of portable, point-of-care imaging devices are on the rise. These compact and mobile units allow veterinarians to perform diagnostic imaging at the animal’s location, whether in a clinic, at home, or in the field. This trend is particularly beneficial for large animal practices and emergency care situations.
- 3D Imaging and Advanced Visualisation Techniques: The use of 3D imaging and advanced visualisation techniques is becoming more prevalent in veterinary diagnostics. These technologies provide detailed anatomical views, aiding in complex surgical planning and precise treatment strategies. 3D reconstructions from CT and MRI scans are enhancing the understanding of complex cases and improving clinical outcomes.
- Cloud-Based Imaging Solutions: Cloud-based imaging solutions are gaining traction, enabling veterinarians to store, access, and share diagnostic images securely over the internet. This trend facilitates collaboration among veterinary professionals, supports telemedicine services, and ensures that images and patient data are easily accessible from any location.
- Focus on Preventive Care and Early Diagnosis: There is an increasing emphasis on preventive care and early diagnosis of diseases in animals. Veterinary diagnostic imaging is playing a pivotal role in routine health check-ups and screening programmes, allowing for the early detection of conditions before they become severe. This proactive approach is improving overall animal health and reducing treatment costs in the long run.
- Integration of Artificial Intelligence (AI): AI and machine learning are being integrated into veterinary diagnostic imaging systems to enhance image analysis and interpretation. AI algorithms can assist in identifying patterns, detecting anomalies, and providing diagnostic suggestions, thereby augmenting the capabilities of veterinarians and improving diagnostic accuracy.
- Specialisation in Veterinary Radiology: There is a growing trend towards specialisation in veterinary radiology. More veterinary professionals are pursuing specialised training and certification in diagnostic imaging, leading to the establishment of dedicated radiology departments within veterinary hospitals and clinics. This specialisation is improving the quality of imaging services and patient care.
Global Veterinary Diagnostic Imaging Market Competitive Landscape
The global veterinary diagnostic imaging market features a competitive landscape with key players such as Canon Medical Systems, Epica Animal Health, Carestream Health, Esaote SPA, IDEXX Laboratories, IMV Imaging, Fujifilm Holdings, Mindray Medical International, Siemens Aktiengesellschaft, and GE HealthCare.
These companies engage in common market activities like mergers and acquisitions to expand their market presence and enhance technological capabilities. They invest heavily in research initiatives to develop advanced imaging solutions and regularly introduce innovative products to meet evolving market demands. Strategic partnerships and collaborations are also prevalent, aimed at leveraging complementary strengths and expanding their global footprint. These activities collectively drive competition and foster continuous advancements in veterinary diagnostic imaging technologies.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2024 – 2032 |
| Estimated Market Value (USD) in 2024 | $2 Billion |
| Forecasted Market Value (USD) by 2032 | $3.6 Billion |
| Compound Annual Growth Rate | 7.2% |
| Regions Covered | Global |
Key Topics Covered:
1 Preface
2 Executive Summary
3 Global Veterinary Diagnostic Imaging Market Overview
3.1 Global Veterinary Diagnostic Imaging Market Historical Value (2017-2023)
3.2 Global Veterinary Diagnostic Imaging Market Forecast Value (2024-2032)
4 Vendor Positioning Analysis
4.1 Key Vendors
4.2 Prospective Leaders
4.3 Niche Leaders
4.4 Disruptors
5 Global Veterinary Diagnostic Imaging Market Landscape*
5.1 Global Veterinary Diagnostic Imaging: Developers Landscape
5.2 Global Veterinary Diagnostic Imaging: Product Landscape
6 Global Veterinary Diagnostic Imaging Market Dynamics
6.1 Market Drivers and Constraints
6.2 SWOT Analysis
6.3 PESTEL Analysis
6.4 Porter’s Five Forces Model
6.5 Key Demand Indicators
6.6 Key Price Indicators
6.7 Industry Events, Initiatives, and Trends
6.8 Value Chain Analysis
7 Global Veterinary Diagnostic Imaging Market Segmentation (2017-2032)
7.1 Global Veterinary Diagnostic Imaging Market (2017-2032) by Equipment
7.2 Global Veterinary Diagnostic Imaging Market (2017-2032) by Application
7.3 Global Veterinary Diagnostic Imaging Market (2017-2032) by Animal Type
7.4 Global Veterinary Diagnostic Imaging Market (2017-2032) by Region
8 North America Veterinary Diagnostic Imaging Market (2017-2032)
9 Europe Veterinary Diagnostic Imaging Market (2017-2032)
10 Asia Pacific Veterinary Diagnostic Imaging Market (2017-2032)
11 Latin America Veterinary Diagnostic Imaging Market (2017-2032)
12 Middle East and Africa Veterinary Diagnostic Imaging Market (2017-2032)
13 Regulatory Framework
13.1 Regulatory Overview
13.2 US FDA
13.3 EU EMA
13.4 INDIA CDSCO
13.5 JAPAN PMDA
13.6 Others
14 Patent Analysis
14.1 Analysis by Type of Patent
14.2 Analysis by Publication Year
14.3 Analysis by Issuing Authority
14.4 Analysis by Patent Age
14.5 Analysis by CPC Analysis
14.6 Analysis by Patent Valuation
14.7 Analysis by Key Players
15 Strategic Initiatives
15.1 Analysis by Partnership Instances
15.2 Analysis by Type of Partnership and Collaborations
15.3 Analysis by Joint Ventures
15.4 Analysis by Leading Players
15.5 Analysis by Geography
16 Supplier Landscape
16.1 Market Share Analysis, By Region (Top 5 Companies)
16.2 Canon Medical Systems Corporation
16.3 Epica Animal Health
16.4 Carestream Health
16.5 Esaote SPA
16.6 IDEXX Laboratories, Inc.
16.7 IMV Imaging
16.8 Fujifilm Holdings Corporation
16.9 Mindray Medical International Limited
16.10 Siemens Aktiengesellschaft
16.11 GE HealthCare
17 Global Veterinary Diagnostic Imaging Market – Distribution Model
17.1 Overview
17.2 Potential Distributors
17.3 Key Parameters for Distribution Partner Assessment
18 Key Opinion Leaders (KOL) Insights
For more information about this report visit https://www.researchandmarkets.com/r/cxqix
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- Veterinary Diagnostic Imaging Market
