The global veterinary X-ray market size is expected to reach USD 1.06 billion by 2030, according to this report. The market is expected to grow at a lucrative CAGR of 6.31% from 2023 to 2030. The key factors driving the market growth include a rise in the prevalence of orthopedic diseases in animals, a growing pet population, increased animal health spending, high pet insurance, and a rise in the number of veterinary practitioners.
Similarly, the rising prevalence of chronic disease in pets due to obesity is contributing to market growth. Pet obesity has become an epidemic in the U.S. as per The Association for Pet Obesity Prevention (APOP) 59% of dogs and 61% of cats classified as overweight or having obesity in 2022. Obesity causes chronic conditions such as osteoarthritis that frequently require diagnosis and surgical intervention. According to Banfield Pet Hospital, the most common osteoarthritis conditions affecting dogs and cats in 2017 were arthritis/DJD, tendon or ligament conditions, and hip and pelvis conditions. This results in increased use of X-rays for disease diagnosis.
The COVID-19 pandemic caused significant growth in the pet industry by establishing new trends such as increased pet ownership and animal spending. The COVID-19 pandemic has impacted negatively on a variety of industries worldwide. The pandemic had a significant impact on the healthcare industry. The unexpected outbreak of the COVID-19 pandemic induced the implementation of strict lockdown restrictions in several countries, resulting in the shutdown of numerous vet facilities and a negative impact on global demand for veterinary x-ray imaging.
Pet adoption increased significantly during the pandemic, resulting in an expanded animal healthcare system and driving the veterinary x-ray market. Adoptions during the pandemic increased the emphasis on pet health, which is expected to drive the veterinary x-ray market growth over the forecast period.
Furthermore, the growing awareness and the need for advanced X-ray systems to diagnose the increasing bone and joint-related disease burden in animals are driving the growth of the veterinary X-ray market. For example, a study published in April 2020 titled 'Risk Factors for Canine Osteoarthritis and Its Predisposing Arthropathies: A Systematic Review' found that osteoarthritis affects nearly 20% of all dogs over the age of one year in the studied population in North America. It was also reported that osteoarthritis in dogs is more common in the UK, with a prevalence ranging from 2.5% to 6.6%. Since osteoarthritis is generally associated with joint pains, the disease's high prevalence generates demand for X-ray diagnosis, driving the market growth during the forecast period.
Moreover, to gain a larger market share, some players are focusing on providing innovative products. These advanced products, which have built-in detector connections, faster and safer low-dose X-ray technology, and are simple to use and install, are gaining popularity over traditional systems. For instance, in February 2021, Fujifilm introduced VXR Veterinary X-Ray Room, a Veterinary Imaging Digital Radiography System. This new X-ray room's advanced design is intended for vets who wish to transfer to high-quality, minimal radiation with a cost-effective, flexible, easy-to-use, and simple-to-install system.
Similarly, the rising prevalence of chronic disease in pets due to obesity is contributing to market growth. Pet obesity has become an epidemic in the U.S. as per The Association for Pet Obesity Prevention (APOP) 59% of dogs and 61% of cats classified as overweight or having obesity in 2022. Obesity causes chronic conditions such as osteoarthritis that frequently require diagnosis and surgical intervention. According to Banfield Pet Hospital, the most common osteoarthritis conditions affecting dogs and cats in 2017 were arthritis/DJD, tendon or ligament conditions, and hip and pelvis conditions. This results in increased use of X-rays for disease diagnosis.
The COVID-19 pandemic caused significant growth in the pet industry by establishing new trends such as increased pet ownership and animal spending. The COVID-19 pandemic has impacted negatively on a variety of industries worldwide. The pandemic had a significant impact on the healthcare industry. The unexpected outbreak of the COVID-19 pandemic induced the implementation of strict lockdown restrictions in several countries, resulting in the shutdown of numerous vet facilities and a negative impact on global demand for veterinary x-ray imaging.
Pet adoption increased significantly during the pandemic, resulting in an expanded animal healthcare system and driving the veterinary x-ray market. Adoptions during the pandemic increased the emphasis on pet health, which is expected to drive the veterinary x-ray market growth over the forecast period.
Furthermore, the growing awareness and the need for advanced X-ray systems to diagnose the increasing bone and joint-related disease burden in animals are driving the growth of the veterinary X-ray market. For example, a study published in April 2020 titled 'Risk Factors for Canine Osteoarthritis and Its Predisposing Arthropathies: A Systematic Review' found that osteoarthritis affects nearly 20% of all dogs over the age of one year in the studied population in North America. It was also reported that osteoarthritis in dogs is more common in the UK, with a prevalence ranging from 2.5% to 6.6%. Since osteoarthritis is generally associated with joint pains, the disease's high prevalence generates demand for X-ray diagnosis, driving the market growth during the forecast period.
Moreover, to gain a larger market share, some players are focusing on providing innovative products. These advanced products, which have built-in detector connections, faster and safer low-dose X-ray technology, and are simple to use and install, are gaining popularity over traditional systems. For instance, in February 2021, Fujifilm introduced VXR Veterinary X-Ray Room, a Veterinary Imaging Digital Radiography System. This new X-ray room's advanced design is intended for vets who wish to transfer to high-quality, minimal radiation with a cost-effective, flexible, easy-to-use, and simple-to-install system.
Veterinary X-ray Market Report Highlights
- The veterinary X-ray market was worth of USD 654.39 million in 2022 and is expected to expand at a CAGR of 6.31% during the forecast period
- On the basis of animal type, the small animals segment accounted for the largest revenue share in 2022. This can be attributed to the increasing adoption of pet animals, the rise in animal expenditure, and high pet insurance
- The equipment segment dominated the market with a market share of around 55% in 2022 owing to rising demand for X-ray equipment in veterinary hospitals. The PACS segment is the fastest-growing segment with a CAGR of 8.30% during the forecast period. This is due to several advantages of PACS in veterinary radiography, such as more efficiently accessing, storing, and sharing images, which creates direct and cascading advantages
- Based on technology, the computed radiography segment held the largest market share of more than 45% in 2022. Computed radiography dominated the marketdue to higher market penetration, ease of installation, and cost-effectiveness, as well as being more rapid than film-based radiography and less expensive than direct radiography. While Direct (Capture) Radiography is anticipated to witness the fastest CAGR due to its advantages such as the potential to centrally store as well as quickly search patient images and also enable images to be shared quickly through the internet
- On the basis of portability, the fixed segment accounted for the largest revenue share in 2022 owing to the wide usage of this equipment by veterinarians. The mobile segment is estimated to register the highest CAGR of over 6% in the coming years owing to the wide usage of such devices by veterinarians
- Based on type, the digital segment held the largest market share in 2022 and is fasted growing segment due to its numerous advantages such as low labor costs, relatively short capture time, and huge profits for key manufacturers
- On the basis of end-use, the veterinary clinics and hospitals segment accounted for the largest revenue share in 2022. The Key factor driving segment growth is the increasing government focus on establishing advanced, well-equipped medical infrastructure for optimal facilities
- North America attributed to the largest share of about 42% of the market by region in 2022 owing to an increase in pet ownership together with rising animal health expenditure and high adoption of pet insurance. While Asia pacific is expected to grow at the fastest CAGR of about 8% due to rising levels of disposable income and growing awareness of animal health
Table of Contents
Chapter 1 Research Methodology & Scope
Chapter 2 Executive Summary
Chapter 3 Veterinary X-ray Market: Market Variables Trends & Scope
Chapter 4 Veterinary X-ray Market: Animal Type Estimates & Trend Analysis, 2018 - 2030 (USD Million)
Chapter 5 Veterinary X-ray Market: Solutions Estimates & Trend Analysis, 2018 - 2030 (USD Million)
Chapter 6 Veterinary X-ray Market: Technology Estimates & Trend Analysis, 2018 - 2030 (USD Million)
Chapter 7 Veterinary X-ray Market: Portability Estimates & Trend Analysis, 2018 - 2030 (USD Million)
Chapter 8 Veterinary X-ray Market: Type Estimates & Trend Analysis, 2018 - 2030 (USD Million)
Chapter 9 Veterinary X-ray Market: Application Estimates & Trend Analysis, 2018 - 2030 (USD Million)
Chapter 10 Veterinary X-ray Market: End-user Estimates & Trend Analysis, 2018 - 2030 (USD Million)
Chapter 11 Veterinary X-ray Market: Regional Market Estimates & Trend Analysis, 2018 - 2030 (USD Million)
Chapter 12 Veterinary X-ray Market - Competitive Landscape
List of Tables
List of Figures
Companies Mentioned
- IDEXX Laboratories, Inc.
- Heska Corporation
- SOUND Technologies, Inc.
- FUJIFILM Holdings Corporation
- Carestream Health
- Mindray Bio-Medical Electronics Co., Ltd.
- Midmark Corporation
- Canon Medical Systems Corporation
- Agfa-Gevaert Group
- SEDECAL
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 150 |
| Published | June 2023 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value ( USD | $ 654.39 Million |
| Forecasted Market Value ( USD | $ 1060 Million |
| Compound Annual Growth Rate | 6.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
