Veterinary Diagnostic Imaging Market - Size, Industry Share, Growth Trends and Forecasts (2023 - 2030)

By Product Type :

The product type segment is categorized into radiography (X-ray) systems, ultrasound imaging systems, computed tomography imaging systems, magnetic resonance imaging systems, video endoscopy imaging systems, and others. In 2022, the radiography (X-ray) systems segment accounted for the highest market share of 26.50% in the overall veterinary diagnostic imaging market share. Radiography (X-ray) systems are equipped with vital features such as zoom, pan, brightness adjustments, and contrast on a single exposure. Thus, radiography (X-ray) systems assist veterinarians to diagnose diseases. Moreover, radiography (X-ray) systems allow veterinarians to take accurate pictures of internal organs and bones. As a result, the vets can exactly locate foreign ingredients that the animal might have swallowed.

For instance, SK Telecom Co., Ltd., an X-ray systems manufacturer in South Korea launched an artificial intelligence-based veterinary X-ray image diagnosis assistance product range named X Caliber. The product is ideal for X-rays of dogs. Analysis of market trends concludes that the recent innovations associated with radiography (X-ray) systems for accurate analysis of results. This, in turn, is driving the segmental proliferation of the market.

However, the ultrasound imaging systems segment is expected to be the fastest-growing segment during the forecast period. The development of a new product range, increasing adoption of pets, and others are prime factors accelerating the expansion of the ultrasound imaging systems segment.

By Application :

The application segment is categorized into cardiology, oncology, neurology, orthopedics, and others. In 2022, the orthopedics segment accounted for the highest veterinary diagnostic imaging market share. Diagnostic imaging is an ideal solution for orthopedics applications due to its features, including dynamic range, spatial resolution, and real-time analysis, among others. The rise in the incidences of bone fractures due to the increase in the cases of road traffic accidents is accelerating the adoption of diagnostic imaging solutions in orthopedics to ensure accurate detection of bone fractures. Additionally, the growth in the prevalence of joint injuries in animals, the rising demand for accurate diagnostics, and an increase in recently developed modern highly advanced animal care facilities are amplifying the orthopedics diagnosis. As a result of the above-mentioned trends the adoption of the diagnostic imaging solution in orthopedics to ensure high-resolution imaging, which, in turn, is driving the veterinary diagnostic imaging market growth.

However, the oncology segment is expected to be the fastest-growing segment during the forecast period because of the development of new oncology centers for animals. For instance, in October 2021, the Southern Africa Animal Cancer Association (SAACA) in partnership with the University of Pretoria introduced an oncology centre for animal treatment in South Africa.

By Animal Type :

The animal type segment is bifurcated into small animals and large animals. In 2022, the small animals segment accounted for the highest market share in the veterinary diagnostic imaging market. The diagnostic imaging solution provides a comprehensive, multimodality diagnosis of diseases in small animals. Veterinary diagnostic imaging is utilized for small animals to diagnose disease in the abdomen, chest, and musculoskeletal system. For illustration, in April 2023, Hallmarq Veterinary Imaging, a veterinary diagnosis imaging manufacturer in the United Kingdom introduced zero-helium small animal 1.5T MRI aimed at small animals. The major focus of the company was to increase the presence of Hallmarq Veterinary Imaging in the global industry. Analysis of market trends concludes that the launch of a new range of products aimed at imaging small animals to ensure the accurate location of tumors and other types of diseases. This, in turn, is supplementing the proliferation of the veterinary diagnostic imaging market growth.

However, the large animal segment is expected to be the fastest-growing segment in the veterinary diagnostic imaging market demand during the forecast period. This is due to increasing disease occurrence in big animals, new technological innovations, and others.

By Region :

The regional segment includes North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.

In 2022, North America accounted for the highest market share at 38.12% and was valued at USD 476.58 million, and is expected to reach USD 774.47 million in 2030. In North America, the U.S. accounted for the highest market share of 68.50% during the base year of 2022. This is due to the launch of a new range of upgraded diagnostic imaging solutions in the North American region. For instance, in January 2023, Esaote North America, Inc. launched a new range of veterinary MRIs named Magnifico Vet open MRI system. The product is designed for vets to ensure multiple users. Furthermore, the diagnostic imaging solution is an efficient vet-centric scanning product range consisting of imaging animals of various sizes quickly and easily. Analysis of veterinary diagnostic imaging market trends concludes that the launch of a new range of products in North America to ensure streamlined data for animals is favoring the growth of the market in the region.

Furthermore, Asia Pacific is expected to witness significant growth over the forecast period, growing at a CAGR of 6.9% during 2023-2030. The veterinary diagnostic imaging market analysis concluded that this phenomenon is attributed to the growing demand for veterinary diagnostic imaging from various applications, including cardiology, oncology, neurology, orthopedics, and others.