Veterinary Imaging Market Size is Growing Progressively to Reach US$ 2.5 Billion || CAGR of 7.8%

The Veterinary Imaging by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Veterinary Imaging, The veterinary imaging market size has grown strongly in recent years. It will grow from $1.74 billion in 2023 to $1.89 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%.  The  growth in the historic period can be attributed to increasing pet ownership, advancements in veterinary care, prevalence of veterinary diseases, humanization of pets, companion animal industry growth..

The veterinary imaging market size is expected to see strong growth in the next few years. It will grow to $2.55 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%.  The growth in the forecast period can be attributed to rising focus on preventive veterinary care, increasing specialty veterinary services, global expansion of veterinary services, technological integration in veterinary practices, growing awareness of zoonotic diseases.. Major trends in the forecast period include customization for different animal species, introduction of 4d imaging technology, enhancements in ultrasound technology, increased use of digital radiography, application of veterinary imaging in research..

Increased demand for meat and dairy products is expected to propel the growth of the veterinary imaging market going forward. Meat and dairy products refer to animal-derived food products such as beef, pork, poultry, milk, cheese, and yogurt, among others. Veterinary imaging plays a crucial role in ensuring the health and well-being of livestock animals, which are used for meat and dairy production. For instance, according to the OECD-FAO Agricultural Outlook 2022-2031, reported by the Organization for Economic Co-operation and Development, a France-based government agency, global meat production is projected to reach 377 million tons in 2023. Therefore, increased demand for meat and dairy products is driving the veterinary imaging market.

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The veterinary imaging market covered in this report is segmented –

1) By Product: Veterinary Imaging Instruments, Veterinary Software, Veterinary Imaging Reagents
2) By Animal Type: Small Companion Animals, Large Animals
3) By Application: Orthopaedics And Traumatology, Oncology, Cardiology, Neurology
4) By End-Use: Veterinary Clinics And Hospitals, Other End-Uses

Major companies operating in the veterinary market are developing innovative products, such as zero-helium small animal 1.5T MRI, to better diagnose disease in animals. Zero-helium small animal 1.5T MRI machine is an innovative system that uses a conduction-based cooling system in a strong vacuum, eliminating the need for helium, a quench pipe, an oxygen monitor, a conventional external chiller, or any additional power. For instance, in April 2023, Hallmarq Veterinary Imaging, a UK-based diagnostic imaging service provider launched Zero-helium small animal 1.5T MRI. The machine is designed to increase access to diagnostic care for small animal patients while reducing the financial, environmental, and supply chain risks associated with traditional helium-based MRI systems. It is an evolutionary advancement from Hallmarq’s previous systems, combining the proven efficiency of its previous machines with a more sustainable cooling system.

The veterinary imaging market report table of contents includes:

1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis

Major Players:

• Agfa-Gevaert N.V.
• Canon Inc.
• Carestream Health
• Draminski S.A.
• E.I. Medical Imaging
• Esaote S.P.A

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