In the continuously expanding veterinary world, the Veterinary X-ray Market is rapidly growing, driven predominantly by a surge in pet adoption and increased emphasis on animal healthcare. Not only are owners becoming more aware and concerned about their pet's health, but the demand for advanced diagnostic tools is also accelerating to cater to the rise in diseases among animals like arthritis, cancer, and obesity. This wide-scale adoption and health awareness present powerful catalysts for the expansion of the veterinary X-ray market.
Moreover, the improvisation of innovative technologies by market leaders is bolstering growth prospects. The launch of contemporary products such as Fujifilm's VXR veterinary X-ray room exemplify the trend of advanced, user-friendly systems tailored to deliver high-quality, low-dose X-rays. Such advancements are facilitating the transition of veterinarians to these new technologies, further substantiating the market's anticipated growth. However, it's essential to consider the high costs related to these X-ray devices and the scarcity of proper reimbursement policies that could pose challenges to this market's growth.
COVID-19 had a significant impact on the market over the pandemic period across the world. Pet adoption has increased significantly during the pandemic, which has resulted in increased animal health care, and, thus, drives the growth of the veterinary x-ray market. For instance, in May 2021, The American Society for the Prevention of Cruelty to Animals (ASPCA) released new data which reported that nearly one in five households acquired a cat or dog since the beginning of the COVID-19 crisis. Such adoptions amid the pandemic increased the focus on pet health, impacting the demand for the veterinary X-ray market. In Addition, the demand for veterinary X-rays is expected to remain intact and lead to a notable impact on the growth of the veterinary x-ray market during the forecast period.
The major factors, such as increasing veterinary products hospitals, rise in pet adoption, and animal health expenditure, are expected to drive the market's growth. For instance, According to the data published by the European Pet Food Industry: Facts and Figures 2022 report, around 10,300,000 dogs and 16,700,000 cats were reported in Germany in 2021, and 12,000,000 dogs and 12,000,000 cats were reported in the United Kingdom in 2021. Also, an article published in Acta Scientific Veterinary Sciences in March 2022 stated that India has approximately 6.2 million of the community dog population, and it is estimated that the population of pet dogs is likely to reach around 31 million by the end of the year 2023. Such increasing pet adoption worldwide is expected to drive the demand for veterinary X-rays, thereby contributing to the market's growth.
Additionally, the increasing launches of innovative products by various key market players are expected to contribute to the market's growth. For instance, in February 2021, Fujifilm launched VXR veterinary X-ray room. The innovative design of this X-ray room is targeted at veterinarians transitioning to high-quality, low-dose X-rays with an affordable, versatile, easy-to-use, and easy-to-install system.
However, the high cost associated with the x-ray devices and the lack of proper reimbursement policies are expected to hinder the market growth.
Veterinary X-ray Market Trends
Digital X-Ray Segment is Expected to Witness a Major Share in Studied Market Over the Forecast PeriodDigital X-ray is a form of X-ray in which images are acquired digitally. Advantages include time efficiency through bypassing chemical processing and the ability to digitally transfer and enhance quality images using low radiation. The growth in the digital animal X-ray is mainly due to the increasing awareness among vets and the growing need for advanced systems to diagnose the increasing disease burden in animals. The rising prevalence of diseases such as arthritis, cancer, and others among animals is expected to drive the demand for digital X-rays, thereby contributing to the growth of the studied segment.
As per the article published in IVF Journal in May 2021, osteoarthritis affects 20% of dogs older than one year and 80% of dogs over eight annually. On the other hand, according to an NCBI article published in May 2022, the lifetime prevalence of malignant tumors increased with increasing dog size class. The age-adjusted prevalence for medium, standard, large, and giant dogs were 1.65, 2.92, 3.67, and 2.99, respectively. Such a high burden of chronic diseases among pets is expected to drive the demand for the digital x-ray market, fueling segment growth.
Moreover, rising obesity among animals is also expected to contribute to the growth of the digital x-ray segment. For example, according to Association for Pet Obesity Prevention data in 2021, the prevalence of obesity in dogs was 44%, and among cats was 45% in 2021 in the United States. Thus such rising obesity prevalence among animals is also expected to drive the demand for the digital x-ray, thereby contributing to the growth of the studied segment.
North America is Expected to Hold Significant Share in the Market Over the Forecast PeriodNorth America is expected to have a notable share in the market owing to the rising pet adoptions along with the presence of key market players. The market for veterinary X-rays is also expected to grow owing to the factors, such as the implementation of strategic initiatives by the market players, and the growing burden of diseases in animals.
For instance, according to the 2021-2022 National Pet Owners Survey, conducted by the American Pet Products Association (APPA), in 2021, around 70% of United States households own a pet, which equates to 90.5 million homes, including 45.3 million cats and 69 million dogs. As per the same source, the number of United States households having small animals is 6.2 million in 2021. The high pet adoption is augmenting the growth of the market studied. Furthermore, as per the Animal Cancer Foundation data in 2021, 65 million dogs and 32 million cats in the United States are diagnosed with cancer annually. Moreover, approximately 6 million cancer diagnoses are made in pets every year. Likewise, per an NCBI article published in September 2021 titledPeriodontal disease is a frequent problem seen in veterinary practices in Canada and reported an average prevalence of 9.3% to 18.2% within the dog population, while the detailed examinations of anesthetized dogs report a much higher prevalence of periodontal disease between 44% and 100%. Such increasing prevalence of various diseases among animals is expected to drive the demand for veterinary X-rays, thereby contributing to the growth of the market.
Additionally, the rising funding activities by various organizations in order to provide veterinary x-ray facilities in North America are also expected to contribute to the growth of the market. For instance, in August 2022, the Hawaii Island Humane Society was awarded USD 1.5 million from Bob Renee Parsons to support the final renovations of the Anne Barasch Ryan Animal Hospital in the United States. The hospital included surgical sites and diagnostic equipment such as X-ray machines.
Thus, due to the above-mentioned factors, such as rising pet adoption, increasing diseases among animals, and rising funding activities, the market is expected to witness significant growth during the forecast period.
Veterinary X-ray Industry OverviewThe Veterinary X-ray market is highly competitive, with many key players dominating the market. The presence of major market players, such as Fujifilm Holdings Corporation, Toshiba Corporation, Siemens Healthineers, GE Healthcare, OR Technology, and Konica Minolta, are intensifying the competition.
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Table of Contents
1.2 Scope of the Study
4.2 Market Drivers
4.2.1 Increasing Pet Adoption and Animal Health Expenditure
4.2.2 Rise in Number of Veterinary Hospitals
4.3 Market Restraints
4.3.1 High Cost of Veterinary X-ray devices and Procedures
4.3.2 Lack of Reimbursement of Veterinary Procedures
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5.1.1 Direct Radiography Systems
5.1.2 Computed Radiography Systems
5.1.3 Film-based Radiography Systems
5.2 By Type
5.2.1 Digital X-ray
5.2.2 Analog X-ray
5.3 By Mobility
5.4 By Animal Type
5.4.1 Small Animals
5.4.2 Large Animals
5.5 By Application
5.5.5 Other Applications
5.6.1 North America
126.96.36.199 United States
188.8.131.52 United Kingdom
184.108.40.206 Rest of Europe
220.127.116.11 South Korea
18.104.22.168 Rest of Asia-Pacific
5.6.4 Middle East and Africa
22.214.171.124 South Africa
126.96.36.199 Rest of Middle East and Africa
5.6.5 South America
188.8.131.52 Rest of South America
6.1.1 Fujifilm Holdings Corporation
6.1.2 Heska Corporation
6.1.3 Canon Inc
6.1.4 Siemens Healthineers
6.1.5 General Electric Company
6.1.6 OR Technology
6.1.7 DRE Veterinary (Avante Animal Health)
6.1.8 JPI Healthcare
6.1.9 Konica Minolta
6.1.10 Carestream Health
6.1.11 Idexx Corporation
A selection of companies mentioned in this report includes:
- Fujifilm Holdings Corporation
- Heska Corporation
- Canon Inc
- Siemens Healthineers
- General Electric Company
- OR Technology
- DRE Veterinary (Avante Animal Health)
- JPI Healthcare
- Konica Minolta
- Carestream Health
- Idexx Corporation