Global Veterinary X-Ray Market Size, Share, Opportunities, And Trends By Technology (Direct Radiography, Systems, Computed Radiography Systems, Film-based Radiography Systems), By Type (Digital X-ray, Analog X-ray), By Mobility (Stationary, Portable), By Animal Type (Small Animals, Large Animals), By Application (Orthopedics, Neurology, Oncology, Cardiology, Other Applications), And By Geography - Forecasts From 2024 To 2029
- Published : May 2024
- Report Code : KSI061612149
- Pages : 135
The global veterinary X-ray market is projected to grow at a CAGR of 6.73% during the forecast period to reach US$948.349 million by 2029, up from US$600.839 million in 2022.
A veterinary X-ray machine is a machine designed specifically for use on animals. This provides high-quality radiographs that are utilized to diagnose or discover a problem in the pet's body, as well as to analyze the source and degree of the condition or disease, this can be used to evaluate a broken bone, suspected trauma injuries, or identify a foreign object that a patient has eaten. The extraordinary detail of a digital X-ray makes it a popular choice for use during a dental exam. Radiographs are quite safe and can be done while the pet is lying still on an X-ray table.
The veterinary X-ray market is a rapidly growing industry focusing on producing and distributing X-ray imaging equipment and services for veterinary medicine. Key components include digital and analog systems. The industry is driven by variables such as pet ownership, veterinary pharmaceutical progressions, illness predominance, and specialized care. X-ray imaging is utilized in orthopedics, dentistry, and delicate tissue imaging to analyze bone fractures and joint issues. Limitations incorporate high cost and restricted knowledge among professionals.
Technological trends include digitalization, portable and point-of-care systems, and advanced imaging modalities. The rising demand for pet insurance, supported by increased animal health spending, is one of the primary factors driving the veterinary X-ray market's growth and demand. Furthermore, the rapid growth in the number of veterinarians and rising income levels in developed economies contribute to the worldwide market's growth over the projection period. The veterinary X-ray industry can be segmented by type, mobility, animal type, application, and geography.
Market Drivers:
- The rapid technological advancements in animal healthcare are expected to fuel the growth of the market globally.
The segment is being driven by innovative technological progressions in healthcare of animal, like the successful digestion of radiology data frameworks and teleradiology. The need is anticipated to be fuelled by an increasing focus on animal well-being and innovative advancement. For example, in January 2024, The North American Veterinary Community (NAVC) held its 41st yearly Veterinary Assembly and Expo (VMX 2024) that showcased groundbreaking innovative advancements in veterinary medication.
Besides, pet owners are presently selecting compelling treatments for their pets with the assistance of pet health insurance approaches. The rising demand for more successful pet treatment will quicken the requirement of the veterinary X-ray industry and offer significant expansion chances within the estimated period. The notoriety of the operation has boosted the industry's growth.
Further, as per the American Veterinary Medical Association information on 'U.S. pet ownership statistics 2022', the number of family units owning dogs and cats was 62 million and 37 million, respectively whereas the veterinary expenditure per family per year on their pet namely, dogs and cats was $ 367 and $253 separately within the year 2022. This estimate shows a likely increase in the ownership of pets in the coming years giving rise to the market.
- Increasing disease burden in animals is anticipated to propel the market of Veterinary X-rays globally.
The increasing predominance of diseases like cancer, arthritis, obesity, and other infections in animals is predicted to fuel the demand for the veterinary X-ray market. According to Morris Animal Foundation of October 2023, about 14 million adult dogs in the United States suffer from osteoarthritis, a major health concern for their owners. While 90% of cats over 12 years old show X-ray evidence of osteoarthritis, indicating a significant number of pets struggling with this condition. Recently, the public has become aware of the importance of pet care. There has been considerable growth in veterinary clinics as pet adoption has surged.
Additionally, in June 2022, an NCBI article stated that the lifetime prevalence of malignant tumours in dogs increased with size class, with age-adjusted prevalence ratios for medium, standard, large, and giant dogs being 1.65, 2.92, 3.67, and 2.99, respectively, compared to toy and small dogs. The rising burden of chronic diseases in pets is expected to increase the demand for the veterinary X-ray market in the forecasted period.
Market Restraint:
- The high price of veterinary imaging equipment could hinder the market.
Growingsing pet care expenditures, as well as the high expenses of products, procedures, and instruments related to animals, may constrain the veterinary X-ray market's extension, whereas a need for veterinarians and a requirement for animal healthcare knowledge in rising economies may posture a risk to the market's expansion. The need for accessible financing alternatives and appropriations advance prevents smaller practices from securing advanced imaging instruments. Collaborations between industry players, administrative bodies, and monetary funding for institutions ought to explore innovative subsidizing models and tax incentives, to reduce the monetary burden and advance the more extensive adoption of progressed imaging innovations in veterinary medication.
North America region is predicted to hold a major market share.
The rise in consumers' purchasing power, together with increased knowledge of tumours and malignancies in companion animals, is driving market growth in North America. As more people in these countries adopt pets, a substantial amount of money will be spent on pet care. The United States generates the most revenue in North America, attributed to a surge in pet-care awareness.
Furthermore, the companies are increasingly concentrated in the United States, investing heavily in technological innovation. According to the American Pet Products Association's 2023-2024, showed National Pet Owners Survey 66% of US households own a pet, with $38.3 billion spent on pet vet care and products in 2023.
In Addition, in August 2022, The Hawaii Island Humane Society (HIHS), a private, nonprofit animal welfare organization, was awarded a $1.5 million grant from The Bob & Renee Parsons Foundation to assist with the final renovations of the Anne Barasch Ryan Animal Hospital. The grant was also named The Bob & Renee Parsons Welcome Center as part of the organization's Animal Community Center. The 13,000-square-foot facility, scheduled to be finished by 2022 end or early 2023, incorporates a veterinary hospital, admissions wing, diagnostic gear, three surgical suites, confinement units for pets with infectious illnesses, and an intensive care unit for recuperation and exam/ emergency rooms.
The North American region is anticipated to extend quickly as a result of major critical players intrigued in contributing to scaling up in North American countries. Furthermore, consumers are becoming more aware of pet care and the therapies offered. The gain in disposable income in these countries is also anticipated to increase market growth over the anticipated period.
Key Developments:
- February 2023- Heska Corporation acquired 54.6% of Cuattro Veterinary USA, LLC, a leading provider of veterinary diagnostic and speciality products. The company continues to use Cuattro's name, brands, R&D, sales, service, and production resources. Both companies serve high-quality veterinary practices in the US. The acquisition aims to expand sales of each product segment through increased market presence, bundling programs, cross-promotion, and providing more value propositions.
- September 2022- SK Telecom launched Korea's first AI-based veterinary X-ray image diagnosis assistance service, 'X Caliber'. The web-based service analyzes dog X-ray images and uploads them to the AI platform 'X Caliber Vet AI'. It delivers results within 30 seconds and uses cloud storage, eliminating the need for a separate server. Veterinarians can view results on their mobile devices or PCs anytime. X Caliber has a disease detection rate of 84-86%, with 97% accuracy in measuring VHS. It uses data augmentation technology to increase data diversity and enhance AI performance in clinical settings. X Caliber is currently available as a subscription service for KRW 300,000 per month after a month of free trial.
Veterinary X-Ray Market Scope:
| Report Metric | Details |
| Market Size Value in 2022 | US$600.839 million |
| Market Size Value in 2029 | US$948.349 million |
| Growth Rate | CAGR of 6.73% from 2022 to 2029 |
| Study Period | 2019 to 2029 |
| Historical Data | 2019 to 2022 |
| Base Year | 2023 |
| Forecast Period | 2024 – 2029 |
| Forecast Unit (Value) | USD Million |
| Segments Covered |
|
| Companies Covered |
|
| Regions Covered | North America, South America, Europe, Middle East and Africa, Asia Pacific |
| Customization Scope | Free report customization with purchase |
Key Market Segments:
Global Veterinary X-Ray Market is segmented and analyzed as below:
- By Technology
- Direct Radiography Systems
- Computed Radiography Systems
- Film-based Radiography Systems
- By Type
- Digital X-ray
- Analog X-ray
- By Mobility
- Stationary
- Portable
- By Animal Type
- Small Animals
- Large Animals
- By Application
- Orthopedics
- Neurology
- Oncology
- Cardiology
- Other Applications
- By Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- Germany
- France
- United Kingdom
- Spain
- Others
- Middle East and Africa
- Saudi Arabia
- Israel
- Others
- Asia Pacific
- China
- Japan
- South Korea
- India
- Thailand
- Taiwan
- Indonesia
- Others
- North America
Frequently Asked Questions (FAQs)
The global veterinary X-ray market is projected to reach a total market size of US$948.349 million by 2029.
Veterinary X-Ray Market was valued at US$600.839 million in 2022.
The veterinary X-ray market is projected to grow at a CAGR of 6.73% over the forecast period.
The rapid technological advancements in animal healthcare are expected to fuel the growth of the veterinary X-ray market globally.
North America holds the largest share of the veterinary X-ray market.
1. INTRODUCTION
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Market Segmentation
1.5. Currency
1.6. Assumptions
1.7. Base and Forecast Years Timeline
1.8. Key Benefits to the Stakeholder
2. RESEARCH METHODOLOGY
2.1. Research Design
2.2. Research Processes
3. EXECUTIVE SUMMARY
3.1. Key Findings
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
4.5. Analyst View
5. GLOBAL VETERINARY X-RAY MARKET BY TECHNOLOGY
5.1. Introduction
5.2. Direct Radiography Systems
5.2.1. Market Opportunities and Trends
5.2.2. Growth Prospects
5.2.3. Geographic Lucrativeness
5.3. Computed Radiography Systems
5.3.1. Market Opportunities and Trends
5.3.2. Growth Prospects
5.3.3. Geographic Lucrativeness
5.4. Film-based Radiography Systems
5.4.1. Market Opportunities and Trends
5.4.2. Growth Prospects
5.4.3. Geographic Lucrativeness
6. GLOBAL VETERINARY X-RAY MARKET BY TYPE
6.1. Introduction
6.2. Digital X-ray
6.2.1. Market Opportunities and Trends
6.2.2. Growth Prospects
6.2.3. Geographic Lucrativeness
6.3. Analog X-ray
6.3.1. Market Opportunities and Trends
6.3.2. Growth Prospects
6.3.3. Geographic Lucrativeness
7. GLOBAL VETERINARY X-RAY MARKET BY MOBILITY
7.1. Introduction
7.2. Stationary
7.2.1. Market Opportunities and Trends
7.2.2. Growth Prospects
7.2.3. Geographic Lucrativeness
7.3. Portable
7.3.1. Market Opportunities and Trends
7.3.2. Growth Prospects
7.3.3. Geographic Lucrativeness
8. GLOBAL VETERINARY X-RAY MARKET BY ANIMAL TYPE
8.1. Introduction
8.2. Small Animals
8.2.1. Market Opportunities and Trends
8.2.2. Growth Prospects
8.2.3. Geographic Lucrativeness
8.3. Large Animals
8.3.1. Market Opportunities and Trends
8.3.2. Growth Prospects
8.3.3. Geographic Lucrativeness
9. GLOBAL VETERINARY X-RAY MARKET BY APPLICATION
9.1. Introduction
9.2. Orthopedics
9.2.1. Market Opportunities and Trends
9.2.2. Growth Prospects
9.2.3. Geographic Lucrativeness
9.3. Neurology
9.3.1. Market Opportunities and Trends
9.3.2. Growth Prospects
9.3.3. Geographic Lucrativeness
9.4. Oncology
9.4.1. Market Opportunities and Trends
9.4.2. Growth Prospects
9.4.3. Geographic Lucrativeness
9.5. Cardiology
9.5.1. Market Opportunities and Trends
9.5.2. Growth Prospects
9.5.3. Geographic Lucrativeness
9.6. Other Applications
9.6.1. Market Opportunities and Trends
9.6.2. Growth Prospects
9.6.3. Geographic Lucrativeness
10. GLOBAL VETERINARY X-RAY MARKET BY GEOGRAPHY
10.1. Introduction
10.2. North America
10.2.1. By Technology
10.2.2. By Type
10.2.3. By Mobility
10.2.4. By Animal Type
10.2.5. By Application
10.2.6. By Country
10.2.6.1. USA
10.2.6.1.1. Market Opportunities and Trends
10.2.6.1.2. Growth Prospects
10.2.6.2. Canada
10.2.6.2.1. Market Opportunities and Trends
10.2.6.2.2. Growth Prospects
10.2.6.3. Mexico
10.2.6.3.1. Market Opportunities and Trends
10.2.6.3.2. Growth Prospects
10.3. South America
10.3.1. By Technology
10.3.2. By Type
10.3.3. By Mobility
10.3.4. By Animal Type
10.3.5. By Application
10.3.6. By Country
10.3.6.1. Brazil
10.3.6.1.1. Market Opportunities and Trends
10.3.6.1.2. Growth Prospects
10.3.6.2. Argentina
10.3.6.2.1. Market Opportunities and Trends
10.3.6.2.2. Growth Prospects
10.3.6.3. Others
10.3.6.3.1. Market Opportunities and Trends
10.3.6.3.2. Growth Prospects
10.4. Europe
10.4.1. By Technology
10.4.2. By Type
10.4.3. By Mobility
10.4.4. By Animal Type
10.4.5. By Application
10.4.6. By Country
10.4.6.1. Germany
10.4.6.1.1. Market Opportunities and Trends
10.4.6.1.2. Growth Prospects
10.4.6.2. France
10.4.6.2.1. Market Opportunities and Trends
10.4.6.2.2. Growth Prospects
10.4.6.3. United Kingdom
10.4.6.3.1. Market Opportunities and Trends
10.4.6.3.2. Growth Prospects
10.4.6.4. Spain
10.4.6.4.1. Market Opportunities and Trends
10.4.6.4.2. Growth Prospects
10.4.6.5. Others
10.4.6.5.1. Market Opportunities and Trends
10.4.6.5.2. Growth Prospects
10.5. Middle East and Africa
10.5.1. By Technology
10.5.2. By Type
10.5.3. By Mobility
10.5.4. By Animal Type
10.5.5. By Application
10.5.6. By Country
10.5.6.1. Saudi Arabia
10.5.6.1.1. Market Opportunities and Trends
10.5.6.1.2. Growth Prospects
10.5.6.2. Israel
10.5.6.2.1. Market Opportunities and Trends
10.5.6.2.2. Growth Prospects
10.5.6.3. Others
10.5.6.3.1. Market Opportunities and Trends
10.5.6.3.2. Growth Prospects
10.6. Asia Pacific
10.6.1. By Technology
10.6.2. By Type
10.6.3. By Mobility
10.6.4. By Animal Type
10.6.5. By Application
10.6.6. By Country
10.6.6.1. China
10.6.6.1.1. Market Opportunities and Trends
10.6.6.1.2. Growth Prospects
10.6.6.2. Japan
10.6.6.2.1. Market Opportunities and Trends
10.6.6.2.2. Growth Prospects
10.6.6.3. South Korea
10.6.6.3.1. Market Opportunities and Trends
10.6.6.3.2. Growth Prospects
10.6.6.4. India
10.6.6.4.1. Market Opportunities and Trends
10.6.6.4.2. Growth Prospects
10.6.6.5. Thailand
10.6.6.5.1. Market Opportunities and Trends
10.6.6.5.2. Growth Prospects
10.6.6.6. Taiwan
10.6.6.6.1. Market Opportunities and Trends
10.6.6.6.2. Growth Prospects
10.6.6.7. Indonesia
10.6.6.7.1. Market Opportunities and Trends
10.6.6.7.2. Growth Prospects
10.6.6.8. Others
10.6.6.8.1. Market Opportunities and Trends
10.6.6.8.2. Growth Prospects
11. COMPETITIVE ENVIRONMENT AND ANALYSIS
11.1. Major Players and Strategy Analysis
11.2. Market Share Analysis
11.3. Mergers, Acquisitions, Agreements, and Collaborations
11.4. Competitive Dashboard
12. COMPANY PROFILES
12.1. Fujifilm Holdings Corporation
12.2. Heska Corporation
12.3. Canon
12.4. Siemens Healthineers
12.5. General Electric Company
12.6. OR Technology
12.7. DRE Veterinary
12.8. JPI Healthcare
12.9. Konica Minolta
12.10. Carestream Health
Fujifilm Holdings Corporation
Heska Corporation
Canon
Siemens Healthineers
General Electric Company
OR Technology
DRE Veterinary
JPI Healthcare
Carestream Health
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