According to the research report titled, ‘Veterinary Imaging Market Size By Product (Veterinary Imaging Instruments [Radiography (X-ray) Systems, Ultrasound Systems, Computed Tomography Systems, Magnetic Resonance Imaging Systems, Video Endoscopy Imaging Systems, Nuclear Imaging Scanners] Veterinary Software, Veterinary Imaging Reagents [Ultrasound Contrast Reagents, MRI Contrast Reagents, X-Ray/CT Contrast Reagents, Nuclear Imaging Reagents), By Animal Type (Small Companion Animals, Large Animals), By Application (Orthopedics and Traumatology, Oncology, Cardiology, Neurology), By End-use (Hospitals, Clinics), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, Japan, China, India, Australia, South Korea, Brazil, Mexico, Argentina, Saudi Arabia, South Africa, UAE), Application Potential, Competitive Market Share & Forecast, 2019 – 2025’, available with Market Study Report, the global veterinary imaging market is expected to surpass USD 2 billion by the year 2025.
 

According to the report, rising adoption of companion animals coupled with associated health benefits for pet owners  such as reduced cholesterol levels, blood pressure, and stress will augment the veterinary imaging market size. Moreover, increased pervasiveness of zoonotic diseases along with easy availability of various veterinary imaging systems are further aiding the market expansion. Technological advancements pertaining to veterinary imaging systems are stimulating the industry outlook. However, high costs of such devices may hinder the market growth.
 

As per product type, the report cites that veterinary imaging instrument segment held 54% share in the year 2018 and is expected to register continuous growth during the forecast period. Growing occurrence of zoonotic diseases has elevated the demand for effective diagnostic systems, thereby contributing towards popularity of the product across the globe.
 

In terms of animal type, small companion animals segment was worth USD 750 million in the year 2018. Rising adoption rates of small sized pets, increasing per capita income, and escalating expenditure by pet owners on pet health are fueling the segmental growth.
 

Based on the application spectrum, the report states that oncology segment is presumed to expand with a CAGR of 7% during the period of 2019-2025. Rising concerns regarding tumor and cancer among small animals along with availability of highly accurate diagnostic tools are propelling the growth of the segment. Moreover, rising R&D activities and escalating disposable income will contribute towards the growth of veterinary imaging market from oncology application.
 

Citing the end-use landscape, clinics segment accounted for 570 million in the year 2018 and is poised to amass commendable gains over the ensuing years. Increasing awareness pertaining to diagnosis of small pets in tandem with rising number of veterinarians are boosting the growth of the segment.
 

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As per the regional analysis, the report cites that North America veterinary imaging industry is predicted to expand with a CAGR of 6% between 2019 and 2025. Rising prevalence of zoonotic diseases and rising adoption rates of pets are augmenting the demand for veterinary imaging instruments across the region.
 

Siemens AG, Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Idexx Laboratories Inc., Hitachi Ltd., GE Healthcare, Fujifilm Corporation, Esaote S.p.A., Epica International Inc., Carestream Health, Canon Medical Systems Corporation, BCF, Agfa-Gevaert Group are the prominent companies operating in the veterinary imaging market.