Veterinary X-ray Market to hit USD 1.4 billion by 2032, says Global Market Insights Inc.
Veterinary X-ray Industry is projected to witness a CAGR of 6.9% during the period 2023-2032. This growth can be attributed to the rise in the number of companion animal ownership.
Selbyville, Delaware, Oct. 29, 2023 (GLOBE NEWSWIRE) —
Veterinary X-ray Market size is expected to be worth USD 1.4 billion by 2032. The growing prevalence of zoonotic diseases globally is a key driver behind industry development. To prevent such illnesses, healthcare organizations across the globe are investing ample time into devising advanced capabilities of veterinary X-ray systems for the early diagnosis of the disease.
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Moreover, continuous advancements in these systems have led to the development of enhanced image quality, reduced radiation exposure, and faster image processing, presenting lucrative increase pathways for the industry.
Direct radiography systems to gain traction due to quick image acquisition capability
The veterinary x-ray market size from the direct segment will record noticeable gains through 2032. Direct radiography systems have faster image acquisition capability, leading to less radiation exposure, favoring their adoption. Additionally, these can be easily integrated into existing veterinary practice workflows and often have fewer training requirements for staff to operate. Digital images produced by these systems have higher resolution and contrast, allowing for easier identification of subtle abnormalities and more accurate diagnoses.
Low upfront costs of analog X-ray systems to favor their adoption
The veterinary x-ray market share from analog x-ray systems segment will depict a recognizable CAGR from 2023 to 2032. Lower upfront costs of these systems than their digital counterparts have made them suitable for small and medium-scale veterinary facilities. Many veterinary clinics also prefer these systems for their ease of use. Moreover, consistent advancements in these systems are further creating a broad scope for segment expansion.
Rising pet ownership to increase the need for veterinary clinics
The veterinary x-ray market from the veterinary clinics segment will attain a decent valuation by 2032. Increasing pet ownership has increased the need for veterinary clinics. Moreover, these facilities have high availability of advanced diagnostic equipment, creating a broad scope for segment expansion. Additionally, they offer comprehensive care and help in effective treatment planning. Moreover, the commendable rise in the number of veterinary clinics will further contribute to segment revenue.
Europe to dominate the veterinary X-ray industry
Europe veterinary X-ray market size will grow notably through 2032. The rising number of pet owners in Europe has led to a greater demand for veterinary services, including diagnostic imaging, contributing to regional expansion. As per the European Pet Food Federation (FEDIAF), 90 million European households, which account for 46% of the population, have companion animals. Moreover, advancements in veterinary healthcare have increased the adoption of direct radiography systems.
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Veterinary X-ray Industry Players
FUJIFILM Holdings Corporation, Heska Corporation, Siemens Healthcare Limited, IDEXX Laboratories, Inc., Canon Medical Systems, and GE HealthCare, among others
Veterinary X-ray Market News:
- In January 2023, GE HealthCare, an American multinational medical technology company, teamed up with Sound Technologies, the global veterinary imaging solutions provider, for the distribution of Vscan Air™, a wireless pocket-sized ultrasound device that provides superior image quality and whole-patient scanning capabilities to veterinary practices in the U.S.
- In November 2021, Fujifilm, a prominent veterinary x-ray industry player, announced the expansion of its veterinary business by completing the acquisition of a French company DMV Imaging. Through this move, the company aims to establish a leading veterinary diagnostics company in France.
Partial Table of Contents (ToC) of the report:
Chapter 3 Veterinary X-ray Industry Insights
3.1 Industry segmentation
3.2 Industry landscape, 2018 – 2032
3.3 Industry impact forces
3.3.1 Growth drivers
126.96.36.199 Increasing demand of pet insurance and increasing spending on animal healthcare
188.8.131.52 Rise in the number of companion animal ownership
184.108.40.206 Rise in the prevalence of zoonotic diseases
220.127.116.11 Technological developments in animal healthcare industry
18.104.22.168 Increasing use of radiography in veterinary orthopedics, dentistry, and traumatology
3.3.2 Industry pitfalls & challenges
22.214.171.124 High cost of veterinary X-ray equipment and procedures
126.96.36.199 Exposure to radiation
3.4 Growth potential analysis
3.4.1 By technology
3.4.2 By type
3.4.3 By mobility
3.4.4 By animal type
3.4.5 By application
3.4.6 By end-user
3.5 COVID-19 impact analysis
3.6 Technology landscape
3.7 Porter’s analysis
3.8 PESTEL analysis
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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