Exploring the Role of Veterinary Imaging Instruments in Modern Animal Healthcare
Author : Tom Clark | Published On : 29 Feb 2024
The global Veterinary Imaging Instrument Industry was estimated at USD 1.44 billion in 2021 and is anticipated to increase at a CAGR of 5.7% from 2022 to 2030.
Grand View Research’s Veterinary Imaging Instrument industry data book is a collection of market sizing information & forecasts, regulatory data, competitive benchmarking analyses, macro-environmental analyses, and technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.
Access the Global Veterinary Imaging Instrument Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies
Veterinary X-Ray Market Growth & Trends
The global veterinary X-ray market size is expected to reach USD 1.06 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to grow at a lucrative CAGR of 4.0% from 2023 to 2030. The key factors driving the market growth include a rise in the prevalence of orthopedic diseases in animals, a growing pet population, increased animal health spending, high pet insurance, and a rise in the number of veterinary practitioners.
Pet adoption increased significantly during the pandemic, resulting in an expanded animal healthcare system and driving the veterinary x-ray market. Adoptions during the pandemic increased the emphasis on pet health, which is expected to drive the veterinary x-ray market growth over the forecast period.
Furthermore, the growing awareness and the need for advanced X-ray systems to diagnose the increasing bone and joint-related disease burden in animals are driving the growth of the veterinary X-ray market. For example, a study published in April 2020 titled "Risk Factors for Canine Osteoarthritis and Its Predisposing Arthropathies: A Systematic Review" found that osteoarthritis affects nearly 20% of all dogs over the age of one year in the studied population in North America. It was also reported that osteoarthritis in dogs is more common in the UK, with a prevalence ranging from 2.5% to 6.6%. Since osteoarthritis is generally associated with joint pains, the disease's high prevalence generates demand for X-ray diagnosis, driving the market growth during the forecast period.
Order your copy of the Free Sample of “Veterinary Imaging Instrument Industry Data Book - Veterinary X-Ray, Veterinary Ultrasound, Animal MRI and Animal/Veterinary CT Imaging Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research
Veterinary MRI Market Growth & Trends
The global veterinary MRI market size is expected to reach USD 360 million by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a lucrative CAGR of 7.3% from 2023 to 2030. The key factors driving the growth include the rising pet expenditures, rate of advanced diagnostics procedures, strategic initiatives by companies, and increasing adoption by end-users.In October 2020, Davies Veterinary Specialists in the U.K. and part of Mars Veterinary Health invested about 1.5 million pounds in acquiring new magnetic resonance imaging (MRI) and CT systems. This supported its growth objectives of establishing new veterinary teams and increasing the hospital footprint.
The COVID-19 pandemic impacted the market notably with both challenges and opportunities. Market stakeholders witnessed limited access to veterinary care during the first half of 2020, while manufacturers faced operational and supply chain hurdles. However, the pandemic raised awareness about animal health in general as pet parents stayed at home and were thus more attuned to changes in their pet’s behavior. This factor combined with the growing humanization of pets is expected to fuel the market’s growth in the coming years.
The expansion of service offerings to include MRI training and education is another key factor contributing to the market growth.MRI scanners should be operated by trained technologists as many factors have to be considered when preparing an animal for an MRI. Most times, this training is not part of the veterinary curriculum and must be acquired as part of the training program in a radiologic technology school or by attending special training sessions. MRI VET Academy by Esaote SPA offers free online learning courses that introduce general practitioners to the neurological patient, and common spinal and brain diseases.
Competitive Landscape
Key players operating in the Veterinary Imaging Instrument industry are:
- IDEXX Laboratories, Inc.
- FUJIFILM Holdings America Corporation
- Hallmarq Veterinary Imaging Ltd
- Carestream Health
- Sound
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