Veterinary Imaging Market Size, Share, Growth Analysis, By Product Type (X-ray, Veterinary Video Endoscopy), By Application (Orthopedics, Oncology), By Region -Industry Forecast 2024-2031


Report ID: SQMIG35G2290 | Region: Global | Published Date: September, 2024
Pages: 191 |Tables: 0 |Figures: 0

Veterinary Imaging Market Insights

Global Veterinary Imaging Market size was valued at USD 1.83 Billion in 2023 and is poised to grow from USD 1.96 Billion in 2024 to USD 3.15 Billion by 2031, growing at a CAGR of 7.01% in the forecast period (2024-2031).

The main driving factors of the veterinary imaging market growth are rise in the number of pet owners, increase in the prevalence of veterinary diseases, and surge in pet care expenditure. According to a study posted in ResearchGate, approximately 10-15% of all dogs are affected with cardiac issues. About 5% of canine heart diseases are congenital heart diseases. Veterinary imaging equipment manufacturing companies collaborate with various public and commercial veterinary clinics and hospitals in upgrading their facilities with advanced diagnostic capabilities. In addition, the increasing ownership of pets, especially in developed regions of the world coupled with inflated veterinary care expenses significantly contributes to the demand for advanced veterinary imaging technology. For instance, in the US, the number of pet-owning families increased, and with it, spending related to comprehensive veterinarian care, including imaging services. This development has been indicative of a greater commitment to animal health, thus driving up the demand for veterinary imaging services as owners seek accurate diagnosis and effective treatments for their animals. Furthermore, the growth and establishment of multi-faceted imaging facilities in veterinary clinics and hospitals contribute to better access and increased use of such imaging services. For instance, high-level diagnostic services have become more accessible for pet owners since the establishment of a new, fully equipped veterinary hospital offering MRI and CT scan services in metropolitan areas. In other words, the greater demand for such services arises from better availability and increased access, which, in turn, is contributing to market growth.

Market Snapshot - (2024-2031)

Global Market Size

USD 1.83 Billion

Largest Segment

Magnetic Resonance Imaging Systems

Fastest Growth

Cardiology

Growth Rate

7.01% CAGR

Global Veterinary Imaging Market ($ Bn)
Country Share for North America Region (%)

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Veterinary Imaging Market Segmental Analysis

The Global Veterinary Imaging Market is segmented product type, application, and region. Depending on product type, the market is classified into X-Ray, Ultrasound, Computed Tomography Systems, and Magnetic Resonance Imaging Systems. By application, it is categorized into Neurology, Oncology, Cardiology, Gynecology, and Orthopedics. Regionally, the market is studied across North America, Latin America, Europe, Asia-Pacific, and Middle East & Africa.

Analysis By Product Type

The X-ray segment dominated the veterinary imaging market, accounting for 37.54% of the revenue in 2023, due to various factors such as growing attention toward advancements in animal health, increasing demand for precision diagnosis, and rising adoption of pets. This market is further significant in the context of growing use of radiography within veterinary orthopedic and dental operations along with other diagnostic areas. The fact that x-ray imaging is a common diagnostic practice and often reimbursed within insurance schemes for pets, this imaging modality has gained greater acceptance and popularity as owners of pets become increasingly aware of diagnostic and treatment options available to them. These trends collectively account for a significant share percentage in the revenue generated in the veterinary X-ray segment.

On the other hand, veterinary video endoscopy will record the fastest CAGR among categories with a growth rate of 8.04% during the forecast period. This is attributed to people moving toward less invasive diagnostic procedures instead of traditional surgical ones. Veterinary clinics such as Point Grey Veterinary Hospital in Vancouver, Canada use flexible fiberoptic endoscopes for the treatments that do not require surgery on the colon, trachea and gastrointestinal tract. Increasingly, procedures on the gastrointestinal tract, biopsies, removal of foreign objects from digestive system, installation of feeding tubes, and an airway exam take advantage of video endoscopy. The video endoscopy market is growing rapidly because of the shift toward minimally invasive procedures.

Analysis By Application

With a market share of 37.70% in 2023, the orthopedics segment grabbed the highest share. Be that as it may, innovation and development of new advanced veterinary imaging equipment exclusively for orthopedics diagnostics have been one of the key factors for its leadership position. Moreover, there is also an increasing demand for such specialty technologies as more animal clinics want better and effective imaging technologies for diagnosing and curing orthopedics issues among animals. A good instance of such development is the Magnifico Vet MRI system, launched by ESAOTE SPA in January 2023. This advanced MRI device, designed for orthopedic imaging among other therapeutic applications, enhances the competency of veterinary medical practitioners. The continuous development and innovation that relate to the technologies of orthopedic imaging would thus facilitate the potential growth of this market.

However, the oncology segment is expected to grow at the fastest rate with a projected CAGR of 9.41% during the forecast period. This rapid growth is principally owing to the increasing incidence of cancer among animals and accelerated R&D in veterinary oncology. Another key factor is the concentration on developing more effective diagnostic and therapeutic options. Industry investments are not less notable, in February 2024, for instance, the University of Glasgow announced a plan to build a completely new cancer treatment center for small animals. The goal of such an institution would be to advance oncological care, fully in line with the broader objective of improving the diagnosis and therapy of cancer in veterinary medicine.

Global Veterinary Imaging Market By Application

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Veterinary Imaging Market Regional Insights

North America accounted for 40.84% of the revenue share in the global veterinary imaging market in 2023. Regionally, North America has among the highest rates of pet ownership in the world-in countries such as the United States and Canada. Demand for veterinary healthcare services is directly related to the size of the population requiring treatment, especially diagnostic imaging. Similarly, the North American market is also expected to increase due to an increase in strategic activities and developments of key players through product launch, merger, acquisitions, and alliances. For instance, in January 2023, JPI Healthcare launched a next-generation veterinary X-ray imaging solution, where the digital X-ray and fluoroscopy are merged with computed tomography in a unique manner, which will help in the veterinary field. New imaging modalities are now available to veterinarians, in the same format as digital X-ray, video and thermal scanning devices, at an exceptionally affordable cost, owing to DeteCT Vet CT and DynaVue Duo at the company.

Contrarily, Europe is among the fastest-growing regions. The increase in incidence of various chronic ailments among pets that require use of proper diagnostic imaging, coupled with rise in number of pet owners in Europe, is driving the veterinary imaging market. For instance, mobility problems, osteoarthritis, and obesity are all relatively common in the companion animal population. The gain of weight and excess body fat exert additional stresses on joints and thereby exacerbates arthritis and limit mobility. Thus, obesity, stated to be the most common nutritional health problem in dogs, is probably increasing side by side with the incidence of joint inflammatory disorders. Moreover, the regional veterinary imaging market is anticipated to exhibit remarkable growth, mainly because of the increasing applications of digital radiography and ultrasonography.

Global Veterinary Imaging Market By Geography
  • Largest
  • Fastest

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Veterinary Imaging Market Dynamics

Drivers

Growing Investment in and Ownership of Pets

  • Growing pet ownership rates, coupled with increasing pay ability on pet health, are main factors driving demand for better veterinary imaging. Increased pet ownership rates in the US, for instance, have forced many families to invest heavily in comprehensive veterinarian care, a package encompassing advanced imaging capabilities. This is an increasing trend, where the owners of pets seek diagnostic accuracy and effective treatments, demonstrating society's heightened concern for animal health and welfare. Therefore, the veterinary imaging market has witnessed prominent growth with an increase in demand for advanced diagnostic imaging procedures such as CT and MRI scans for veterinary applications.

Growth of Veterinary Hospitals and Clinics

  • Access to and the use of veterinary imaging services have rapidly improved with the expansion of veterinary clinics and hospitals that are well equipped with advanced imaging apparatus. For instance, there is a completely new establishment of a veterinary center with MRI and CT scan capabilities in metropolitan areas, enabling fast access to advanced diagnostic instruments for animal owners. Advanced imaging modalities have witnessed wider availability; the treatment options and diagnostic precision have significantly improved, thereby driving their usage. Modernization of veterinary clinics has helped pet owners in having easy access to first-class diagnostic services, thereby helping the overall growth of the veterinary imaging market.

Restraints

Shortage of Trained Professionals

  • This often results in a serious restriction in the population of qualified veterinary radiologists and technicians competent in effectively applying a range of innovative imaging techniques within veterinary practices. Operation of sophisticated imaging devices, such as CT and MRI scanners, requires specific knowledge and expertise, which is presently in short supply. However, wide usage of these technologies by veterinary clinics is quite a difficult proposition since most of the veterinary clinics face a non-availability of competent personnel who can efficiently operate and interpret the diagnosis obtained through various complicated diagnostic equipment. Thus, the shortage of experienced professionals tends to limit the development potential of the veterinary imaging market and full employment of modern imaging capabilities by the clinics.

Exorbitant Equipment Costs

  • The high cost of buying veterinary imaging systems, such as a digital radiography system, computed tomography scanner, or magnetic resonance imaging machine, is considered the major barrier for many of the small-sized and different-sized smaller veterinary clinics and practices. Such equipment is very expensive to buy and maintain, especially for smaller, independently run offices. This has put a financial burden on them and thus constrained their ability to invest in and offer advanced diagnostic services, in turn blunting the growth of the overall veterinary imaging technologies market. Thus, one of the key challenges in achieving significant growth and availability of advanced veterinary imaging services remains high equipment cost.

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Veterinary Imaging Market Competitive Landscape

The competition in the market is highly aggressive, with large- and small-scale participants. Most of these companies are now focusing on R&D efforts, mergers, acquisitions, collaborations, and partnerships for higher market shares. In addition, all major participants in the industry expand into other countries with their AI technologies to strengthen their position in the market. For instance, in January 2024, SK Telecom Co. of South Korea launched its AI companion for the diagnoses of pets, X Caliber, in the U.S. by partnering with Vetology.

Top Player’s Company Profiles

  • IMV Imaging
  • Mars, Inc.
  • IDEXX Laboratories, Inc.
  • Midmark Corporation
  • Hallmarq Veterinary Imaging
  • GE HealthCare
  • ESAOTE SPA
  • Bruker
  • Fujifilm Holdings America Corporation
  • Epica Animal Health
  • MinXray, Inc.
  • Reproscan
  • PerkinElmer, Inc.
  • Clarius
  • Hitachi Healthcare Americas

Recent Developments

  • June 2021: 20/20 Imaging, a division of Konica Minolta Healthcare Americas, Inc., has introduced the VETSMART, a revolutionary digital X-ray imaging system for veterinarians. This latest innovation in veterinary X-ray equipment advances the quality and consistency of imaging studies and streamlines workflow to enable companion health centers to deliver optimal care.
  • February 2021: FUJIFILM Medical Systems U.S.A, Inc. is proud to announce the availability of the VXR Veterinary X-Ray Room. This all-in-one digital X-ray solution will provide an affordable, flexible, easy installation system for those veterinarians interested in converting to high-quality, low-dose X-rays.
  • August 2020: IDEXX Laboratories, Inc., the global leader in veterinary software and diagnostics, announced the introduction of the ImageVue DR30 Digital Imaging System to extend its imaging offering. The technology focuses on creating radiation safety and high-quality diagnostic pictures for all veterinary specialists; hence, it is ideal for veterinary operations.

Veterinary Imaging Key Market Trends

  • Integration of Machine Learning and Artificial Intelligence: The modernization of veterinary imaging with machine learning and artificial intelligence enhances diagnostic capabilities. More often now, AI algorithms in image data analysis are in place to enhance picture quality and help diagnoses that are being made more accurately. It can be used for anomaly identification, automating image processing, and giving predictive insights to enhance diagnostic precision while reducing the interpretation time. AI and machine learning in veterinary imaging continue to widen the market scope because, with advanced diagnostic tools, productivity increases. With these types of technologies integrated into their operations, the ability to diagnose conditions rapidly and accurately translates to improved treatment and outcomes for patients. Because of this impact, demand is growing for AI-enhanced imaging systems as part of a larger push for integrating advanced technologies into veterinary practice.
  • Growth of Point-of-Care and Portable Imaging Devices: There is an ever-increasing need within the veterinary profession for portable and point-of-care imaging equipment, enabling practitioners to perform diagnostic imaging right at the point of treatment, be it a clinic, a mobile unit, or even a remote site. Instances of such recent technological advances in technology gaining appeal are the small CT scanner, handheld X-ray machine, and portable ultrasound machines. There is an increase in diagnostic imaging, especially due to the development of portable and point-of-care imaging technologies. This increases accessibility in resource-challenged or remote areas where traditional imaging facilities may not be widely available. With these tools, veterinarians are often able to diagnose and treat patients on-site much rapidly and effectively, thereby enhancing patient care. The portability and efficiency of the portable solution have been making the diagnostic tools more adaptable and accessible; thus, increasing the demand and helping in the growth of the veterinary imaging market.

Veterinary Imaging Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.  

As per SkyQuest analysis, the major driving factors for the veterinary imaging market include increasingly popular pet insurance, a rise in the prevalence of zoonotic diseases, and rapid development regarding veterinary imaging technology. Such fast-developing technology consists of AI, especially when integrated with veterinary radiography and its related software. It provides the possibility of instant, safe uploading of X-rays onto servers and the automated evaluation of many veterinary radiological criteria. Practically putting these AI-based techniques into effect in veterinary clinics has been a step in the right direction. For instance, MiReye Imaging launched its new line of veterinary X-ray devices in April 2024 that make use of artificial intelligence while diagnosing ailments in animals. In addition, the rising pressure of zoonotic diseases has developed the need for proper diagnosis, and this is expected to drive the market.

Report Metric Details
Market size value in 2023 USD 1.83 Billion
Market size value in 2031 USD 3.15 Billion
Growth Rate 7.01%
Base year 2023
Forecast period (2024-2031)
Forecast Unit (Value) USD Billion
Segments covered
  • Product Type
    • X-Ray, Ultrasound, Computed Tomography Systems, Magnetic Resonance Imaging Systems
  • Application
    • Neurology, Oncology, Cardiology, Gynecology, and Orthopedics
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • IMV Imaging
  • Mars, Inc.
  • IDEXX Laboratories, Inc.
  • Midmark Corporation
  • Hallmarq Veterinary Imaging
  • GE HealthCare
  • ESAOTE SPA
  • Bruker
  • Fujifilm Holdings America Corporation
  • Epica Animal Health
  • MinXray, Inc.
  • Reproscan
  • PerkinElmer, Inc.
  • Clarius
  • Hitachi Healthcare Americas
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Veterinary Imaging Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Veterinary Imaging Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Veterinary Imaging Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Veterinary Imaging Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Veterinary Imaging Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Veterinary Imaging Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Global Veterinary Imaging Market size was valued at USD 1.83 Billion in 2023 and is poised to grow from USD 1.96 Billion in 2024 to USD 3.15 Billion by 2031, growing at a CAGR of 7.01% in the forecast period (2024-2031).

The competition in the market is highly aggressive, with large- and small-scale participants. Most of these companies are now focusing on R&D efforts, mergers, acquisitions, collaborations, and partnerships for higher market shares. In addition, all major participants in the industry expand into other countries with their AI technologies to strengthen their position in the market. For instance, in January 2024, SK Telecom Co. of South Korea launched its AI companion for the diagnoses of pets, X Caliber, in the U.S. by partnering with Vetology. 'IMV Imaging', 'Mars, Inc.', 'IDEXX Laboratories, Inc.', 'Midmark Corporation', 'Hallmarq Veterinary Imaging', 'GE HealthCare', 'ESAOTE SPA', 'Bruker', 'Fujifilm Holdings America Corporation', 'Epica Animal Health', 'MinXray, Inc.', 'Reproscan', 'PerkinElmer, Inc.', 'Clarius', 'Hitachi Healthcare Americas'

Growing pet ownership rates, coupled with increasing pay ability on pet health, are main factors driving demand for better veterinary imaging. Increased pet ownership rates in the US, for instance, have forced many families to invest heavily in comprehensive veterinarian care, a package encompassing advanced imaging capabilities. This is an increasing trend, where the owners of pets seek diagnostic accuracy and effective treatments, demonstrating society's heightened concern for animal health and welfare. Therefore, the veterinary imaging market has witnessed prominent growth with an increase in demand for advanced diagnostic imaging procedures such as CT and MRI scans for veterinary applications.

Integration of Machine Learning and Artificial Intelligence: The modernization of veterinary imaging with machine learning and artificial intelligence enhances diagnostic capabilities. More often now, AI algorithms in image data analysis are in place to enhance picture quality and help diagnoses that are being made more accurately. It can be used for anomaly identification, automating image processing, and giving predictive insights to enhance diagnostic precision while reducing the interpretation time. AI and machine learning in veterinary imaging continue to widen the market scope because, with advanced diagnostic tools, productivity increases. With these types of technologies integrated into their operations, the ability to diagnose conditions rapidly and accurately translates to improved treatment and outcomes for patients. Because of this impact, demand is growing for AI-enhanced imaging systems as part of a larger push for integrating advanced technologies into veterinary practice.

North America accounted for 40.84% of the revenue share in the global veterinary imaging market in 2023. Regionally, North America has among the highest rates of pet ownership in the world-in countries such as the United States and Canada. Demand for veterinary healthcare services is directly related to the size of the population requiring treatment, especially diagnostic imaging. Similarly, the North American market is also expected to increase due to an increase in strategic activities and developments of key players through product launch, merger, acquisitions, and alliances. For instance, in January 2023, JPI Healthcare launched a next-generation veterinary X-ray imaging solution, where the digital X-ray and fluoroscopy are merged with computed tomography in a unique manner, which will help in the veterinary field. New imaging modalities are now available to veterinarians, in the same format as digital X-ray, video and thermal scanning devices, at an exceptionally affordable cost, owing to DeteCT Vet CT and DynaVue Duo at the company.

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