Veterinary diagnostic imaging uses techniques such as x-rays, ultrasound, MRI, CT, and endoscopes to produce images of the internal structures of animals for diagnostic purposes. It allows veterinarians to diagnose injuries and diseases accurately without invasive procedures. X-rays are commonly used to diagnose fractures, dislocated joints, lung and cardiac problems, and certain intestinal diseases. Ultrasound imaging provides high-resolution images of the abdomen and can detect cancers, tumors, cysts, and kidney and liver problems. MRI and CT scans deliver highly detailed images of soft tissues and internal organs and are helpful in diagnosing neurological conditions and some cancers. Endoscopy allows examination of internal organs using fiber optic cameras inserted through natural openings. The global veterinary diagnostic imaging market is gaining traction due to the rising ownership of companion animals and increasing expenditure on their healthcare. Growing awareness about early disease detection is also fueling demand for these techniques.
The global Veterinary Diagnostic Imaging Market is estimated to be valued at US$ 962.7 Mn in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
One of the key drivers for the growth of the veterinary diagnostic imaging market is the rising demand for early detection of diseases in pets. Veterinary diagnostic imaging allows detection of diseases and abnormalities at an early stage before clinical signs appear. This enables timely intervention and improves animal welfare outcomes. For instance, ultrasound and x-rays can detect urinary stones and certain types of cancers before any visible symptoms manifest. Early diagnosis also improves the chances of full recovery and increases lifespan by allowing treatment at the initial stages itself. Pet owners are increasingly aware of the benefits of routine diagnostic screening tests for early detection. This is encouraging greater uptake of imaging modalities and propelling market revenue.
The Veterinary Diagnostic Imaging Market can be segmented based on product, animal type, end user and modality. By product, instruments dominate the market with over 60% share owing to high demand for X-Ray systems, ultrasound scanners, computed tomography systems and magnetic resonance imaging systems. Within instruments, ultrasound scanners have the largest share due to high adoption in routine procedures. By animal type, small companion animals account for majority share as pets require regular check-ups. Within end users, veterinary hospitals and clinics collectively hold the largest share given most diagnostic procedures are performed at these centers. By modality, ultrasound dominates due to portability and ability to perform real-time imaging without use of ionizing radiation.
Political: Veterinary healthcare expenditure is rising across regions due to increasing pet ownership and awareness. Governments support sectors through funding, subsidies and regulations to improve animal care quality.
Economic: Developing economies like India and China are witnessing high pet adoption and increasing disposable incomes are boosting diagnostic procedures. Occurrence of zoonotic diseases also raise livestock imaging needs.
Social: Growing human-animal bond leads to higher veterinary spending. Customers focus more on preventive animal care which involves regular check-ups.
Technological: Adoption of AI, digital platforms, precision imaging modalities like CT/MRI are gaining traction. Portable ultrasound probes allow performing tests outside clinics.
The global Veterinary Diagnostic Imaging Market share is expected to witness high growth. The global Veterinary Diagnostic Imaging Market is estimated to be valued at US$ 962.7 Mn in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030.
North America dominates currently due to advanced animal healthcare infrastructure and systems. Asia Pacific is fastest growing region on back of rising pet ownership and increasing livestock population.
Key players operating in the Veterinary Diagnostic Imaging Market are Esaote SPA, Epica Animal Health, IDEXX Laboratories. Esaote leads the veterinary ultrasound market while IDEXX dominates the radiography segment. Innovation, expanding into new regions and offering integrated diagnostic solutions are some strategies adopted.
Veterinary professionals are undergoing continuous education to leverage advanced modalities like MRI and digital platforms. Players focus on developing user-friendly devices to aid prompt decision making. Portable systems allow performing tests outside clinics and on-farm. Growing pet health expenditure in developing nations and demand for high-quality livestock imaging are fueling the market growth.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it