New York, United States , June 17, 2024 (GLOBE NEWSWIRE) -- The Global Veterinary Imaging Market Size is expected to Grow from USD 1.82 Billion in 2023 to USD 3.57 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 6.97% during the projected period.
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Veterinary imaging, a sort of examination that produces detailed images of inside organs, is inventive. Imaging treatments employ radio waves, high-energy radiation (X-rays), high-energy sound waves (ultrasounds), and radioactive materials. They are important for diagnosing illnesses, arranging therapies, and assessing effectiveness. Numerous imaging systems have been developed and upgraded for use in both animal and human diagnostic applications. Veterinary imaging is the process of collecting diagnostic pictures of an animal's body in order to detect chronic disorders. The majority of imaging techniques ensure that the disease process remains unchanged and that the pet is not in any discomfort while providing a wealth of information in a non-invasive and cost-effective manner. However, due to the complexity and cost of the instruments and equipment, some of these treatments are conducted in facilities specifically designed for their usage. Some of the primary drivers driving the market include an increase in the number of pets adopted, an increase in the number of infectious diseases arising, an increase in the need for various diagnostic instruments, and an increase in the amount of money spent on pet care.
Browse key industry insights spread across 200 pages with 120 Market data tables and figures & charts from the report on the "Global Veterinary Imaging Market Size, Share, and COVID-19 Impact Analysis, By Animal Type (Small Animal, Large Animal), By Product (MRI, X-ray, CT Imaging & Others), By Application (Orthopaedics & Traumatology, Oncology, Cardiology, Dental Application & Others), By End User (Veterinary Clinics, Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The small animal segment is expected to hold the largest share of the global veterinary imaging market during the predicted timeframe.
On the basis of animal type, the global veterinary imaging market is divided into large animals, small animals. Among these, the small animal segment is expected to hold the largest share of the global veterinary imaging market during the predicted timeframe. The increasing frequency of chronic and acute conditions, the growing number of companion animals, the rising cost of pet care, the increased usage of pet insurance, and technological breakthroughs in small animal imaging modalities are all driving market expansion.
The MRI segment is expected to grow at the fastest pace in the global veterinary imaging market during the estimated period.
On the basis of product, the global veterinary imaging market is divided into MRI, X-ray, CT Imaging & others. Among these, the MRI segment is expected to hold the largest share of the global veterinary imaging market during the estimated period. X-rays are widely used in veterinary clinics for orthopaedic issues, with pet insurance covering radiographic diagnostics and teleradiology. Increased adoption of pet insurance and awareness of imaging options drive segment growth.
The orthopaedics and traumatology segment are expected to grow at the fastest pace in the global veterinary imaging market during the anticipated period.
On the basis of application, the global veterinary imaging market is divided into orthopaedics & traumatology, oncology, cardiology, dental applications, and others. Among these, the orthopaedics and traumatology segment are expected to grow at the fastest pace in the global veterinary imaging market during the anticipated period. Veterinary imaging revenue dominates orthopaedics and traumatology due to increased animal injuries, need for accurate diagnostic tools, and accessibility of animal care facilities, including cancer applications.
The veterinary clinics segment is expected to grow at the fastest pace in the global veterinary imaging market during the projected timeframe.
On the basis of end user, the global veterinary imaging market is divided into veterinary clinics and others. Among these, the veterinary clinics segment is expected to hold the largest share of the global veterinary imaging market during the projected timeframe. Imaging technologies are being developed for quick, reliable diagnostics in veterinary medicine, with over half of Americans spending more on their dogs' medical care than on themselves.
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North America is anticipated to hold the largest share of the global veterinary imaging market over the estimated period.
North America is anticipated to hold the largest share of the global veterinary imaging market over the estimated period. Numerous causes, including widespread adoption of companion animals by Americans and Canadians, high pet care costs, expanding employment prospects in the veterinary field, and appealing reimbursement choices, have all contributed considerably to the region's dominance. Furthermore, because the region places a strong emphasis on launching new goods, there is a stronger need for technologically advanced tomography products. It is expected to boost regional market expansion.
Asia Pacific is predicted to develop at the quickest rate in the global veterinary imaging market over the period of forecasting. The veterinary imaging market is expanding due to increased awareness, companion animal adoption, and the Asia-Pacific region. Factors such as growing disposable income, animal health spending, protein-rich animal food, and advanced tomography equipment support market growth.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Aminophenol Market include IDEXX Laboratories, Inc., FUJIFILM Holdings, America Corporation, VetZ GmbH, Hallmarq Veterinary Imaging Ltd., Shenzhen Mindray Animal Medical Technology Co., LTD., Heska Corporation, SOUND, ESAOTE SPA, Universal Medical Systems, Inc., Bruker, Hitachi Ltd., Siemens Healthcare GmbH, Epica Animal Health, MinXray Inc., DRAMIÑSKI SA., Others.
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Recent Developments
- In June 2023, IDXX Laboratories developed its first veterinary diagnostic test, IDEXX Cystatin B, in June 2023 to detect kidney damage in cats and dogs.
- February 2022, Fujifilm will launch the VXR Veterinary X-Ray Room in a full digital radiography system designed to improve doctor workflows, safeguard pet health, and give owners with peace of mind.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Veterinary Imaging Market based on the below-mentioned segments:
Global Veterinary Imaging Market, By Animal
- Small Animal
- Large Animal
Global Veterinary Imaging Market, By Product
- MRI
- X-ray
- CT Imaging
- Others
Global Veterinary Imaging Market, By Application
- Orthopedics And Traumatology
- Oncology
- Cardiology
- Dental Application
- Others
Global Veterinary Imaging Market, By End User
- Veterinary Clinics
- Others
Global Veterinary Imaging Market, By Region
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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