Veterinary Imaging Market to Grow USD 2390.1 Million by 2028 with a CAGR of 4.9% | Valuates Reports

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BANGALORE, India, Aug. 8, 2022 /PRNewswire/ -- Veterinary Imaging Market is segmented By Type (X-ray Technology, Ultrasound Technology, Other), By Application (Clinics, Hospitals and Academic Institutes) : Opportunity Analysis and Industry Forecast, 2022–2028. It is published in Valuates Reports under the Animal Products & Services category.

Due to the COVID-19 pandemic, the global Veterinary Imaging market size is estimated to be worth USD 1793.8 Million in 2022 and is forecast to be a readjusted size of USD 2390.1 million by 2028 with a CAGR of 4.9% during the review period.

Major factors driving the growth of the Veterinary Imaging Market

The rapid technological innovations in veterinary imaging systems, growing spending on animal health, deployment of AI-based diagnostic tools, and rise in the adoption of pets will drive the growth of the veterinary imaging market.

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TRENDS INFLUENCING THE GROWTH OF VETERINARY IMAGING MARKET

The latest digital veterinary equipment is fast and efficient. It has the capacity for pan, zoom, contrast, and brightness adjustments on a single exposure. Veterinarians can quickly identify problems without the need for performing diagnostic surgeries. Digital radiography has more shades of gray which helps in detecting minute differences in radiation attenuation in comparison to films. This will bolster the growth of the veterinary imaging market. High contrast resolution provides soft tissue and bone detail in a single image thereby decreasing the number of images to be taken. The images are stored on computer files for instant and easy viewing on any smartphone screen, tablet, or computer. The field can be emailed to clients or specialists for convenient viewing with the ability to zoom in on specific areas.

Radiography is the most common imaging procedure with extensive use of X-rays to create images in veterinary practices.  The equipment is sized properly for use with dogs, cats, and other small animals. MRI( Magnetic Resonance Imaging) and ultrasound scans have become the sought-after procedure for diagnosing pets and animals. This will drive the expansion of the veterinary imaging market in the coming years. Digital X-rays provide detailed assessment and effective treatment.

The veterinary industry suffers from a shortage of radiologists. AI-based diagnostic tools have the ability to fill these gaps as deep learning networks train the tools to identify abnormalities and detect the disease within seconds. Feeding the AI thousands of radiographic images increases its accuracy level. Users can easily access the report by integrating it with their software management systems. This will drive the demand for the veterinary imaging market. Artificial intelligence provides detailed insights into routine cases eliminating the need to pay costly specialist fees. It helps in focusing all the resources on critical tasks.

Pets are being adopted as they are being seen as a part of the family due to the need for companionship and forming emotional bonds. The covid 19 pandemic has led to an increase in pet ownership with owners passing their own health and food principles on to their pets. This has increased the demand for veterinary services for animals in turn fueling the growth of the veterinary imaging market. The imaging procedures allow for measuring the treatment effect on target tissues. The different radiology features help vets identify the diagnosis outcome on dropsies, anodynes, fractures, and neoplasms that cause tumors, etc.

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VETERINARY IMAGING MARKET SHARE ANALYSIS

Based on type, X-ray technology is expected to dominate the veterinary imaging market share as it is the most used imaging procedure for diagnosing several animal disorders. The increasing pet ownership and rising prevalence of diseases will also contribute to the growth.

Based on region, Asia-Pacific is expected to register the highest CAGR during the forecast period. Growth in pet adoption, increasing awareness about animal health, and growing per capita animal health expenditure is contributing to the growth of the APAC veterinary imaging market.

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Key Players

• GE Healthcare
• Excelsior Union Limited
• Onex
• Esaote
• Idexx Laboratories
• VCA
• Hitachi
• Siemens

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