Veterinary Diagnostic Imaging Market Scope
Veterinary Diagnostic Imaging is the equipment’s which are primarily or majorly used for imaging and then diagnosing the animal body. This can be done with the help of various imaging technologies. Diagnostic imaging is the method of making images of the body in order to diagnose the disease present in the animal body. The Veterinary Diagnostic Imaging used are x-ray, ultrasound, MRI, etc. The Diagnostic Imaging can be done of various kinds of animals such as household animals (dogs and cats), bulky animals (sport horses, wool and fiber animals), and zoo animals. Rising concern towards animal security and health is growing the market for Veterinary Diagnostic Imaging.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Largest Market | North America |
Unit | Value (USD Million) |
Key Companies Profiled | GE Healthcare (United States), Agfa- Gevaert N.V. (Belgium), Excelsior Union Limited (Russia), Onex Corporation (Canada), Esaote S.p.A (Italy), Canon Inc. (Japan), IDEXX Laboratories, Inc. (United States), VCA Inc. (United States), Hitachi, Ltd (Japan) and BCF Technology, Ltd. (United Kingdom) |
CAGR | 6.86% |
Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Veterinary Diagnostic Imaging market throughout the predicted period.
GE Healthcare (United States), Agfa- Gevaert N.V. (Belgium), Excelsior Union Limited (Russia), Onex Corporation (Canada), Esaote S.p.A (Italy), Canon Inc. (Japan), IDEXX Laboratories, Inc. (United States), VCA Inc. (United States), Hitachi, Ltd (Japan) and BCF Technology, Ltd. (United Kingdom) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Diagnostic Imaging Systems, Inc. (United States), Hallmarq Veterinary Imaging Ltd. (United Kingdom), MinXray, Inc. (United States) and Fujifilm Holdings Corporation (Japan).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Veterinary Diagnostic Imaging market by Type , by Application (Livestock and Pet) and Region with country level break-up.
On the basis of geography, the market of Veterinary Diagnostic Imaging has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Market Leaders and their expansionary development strategies
In 2018, Heska Corporation (United States) formed a partnership with Pathway Vet Alliance (United States). Under the terms of this agreement, Pathway plans to align its internal diagnostic portfolio with Heska, which can provide in-house operational services like point-of-care blood diagnostics, digital imaging, and allergy testing.
In January 2024 , Veterinary radiology company, SignalPET has launched their new product, SignalSTAT, which seamlessly blends cutting-edge AI technology with human expertise to offer pets the fastest, most thorough care possible.
The Atomic Energy (Radiation Protection) Rules, 2004 [AE (RP) R-2004], promulgated under the Atomic Energy Act, 1962, provides the legal framework for the safe handling of radiation-generating equipment (in this context - X-ray equipment). As per Rule 3 of AE (RP) R-2004 it is mandatory for all the manufacturers/Suppliers/Users of x-ray equipment, to obtain requisite ‘License’ from AERB for carrying out any of the above activities. To facilitate online submission of applications for various regulatory consents, AERB has launched e-governance application e-LORA (e-Licensing of Radiation Applications) System. All the Manufacturers/Suppliers/Service Agencies and X-ray institutions are required to obtain all the requisite consents from AERB through e-LORA. Detailed guidelines for all the stakeholders are available on the homepage of eLORA.
Influencing Trend:
Innovations in Veterinary Imaging Instruments, Adoption of Portable, Battery-Powered Imaging Instruments For Point-Of-Care Services and Acceptance of Consolidation in the Veterinary Imaging Market
Market Growth Drivers:
Rising Demand for Pet Insurance and Growing Animal Health Expenditure, Increasing Demand for Meat and Dairy Products and a Significant Increase in Pet Adoption and Increasing Concern Among the Consumers Towards the Health of Animals
Challenges:
Lack of Animal Healthcare Awareness in Emerging Markets and Shortage of Vet Practitioners Especially in Developing Markets
Restraints:
High Cost of Veterinary Imaging Instruments and Increasing Pet Care Costs
Opportunities:
Growth in the Number of Veterinary Practitioners & Rise in Their Income Levels in Developed Economies and Growth in the Companion Animals Market
Key Target Audience
Veterinary imaging equipment manufacturers, Veterinary imaging equipment distributors, Animal health research and development companies, Veterinary reference laboratories, Veterinary hospitals and diagnostic imaging laboratories, Market research and consulting firms, Venture capitalists and investors and Government associations