Product Code: GVR-3-68038-724-7
Veterinary X-ray Market Growth & Trends
The global veterinary X-ray market size is expected to reach USD 1.06 billion by 2030, according to a new report by Grand View Research, Inc. 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.
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
- 1.1 Market Segmentation & Scope
- 1.1.1 Estimates & Forecast Timeline
- 1.2 Research Methodology
- 1.3 Information Procurement
- 1.3.1 Purchased database:
- 1.3.2 GVR's Internal Database
- 1.3.3 Secondary sources
- 1.3.4 Primary Research:
- 1.3.5 Details of Primary Research
- 1.4 Information or Data Analysis
- 1.4.1 Data Analysis Models
- 1.5 Market Formulation & Validation
- 1.6 Market Definition
- 1.7 Model Details
- 1.7.1 Commodity Flow Analysis
- 1.7.2 Parent Market Analysis
- 1.8 List of Secondary Sources
- 1.9 Objectives
Chapter 2 Executive Summary
- 2.1 Market Snapshot, 2022 (USD Million)
- 2.2 Segment Snapshot
- 2.3 Competitive Snapshot
Chapter 3 Veterinary X-ray Market: Market Variables Trends & Scope
- 3.1 Market Lineage Outlook
- 3.1.1 PARENT MARKET ANALYSIS
- 3.1.2 ANCILLARY MARKET ANALYSIS
- 3.2 Penetration and Growth Prospect Mapping
- 3.3 Market Dynamics
- 3.3.1 MARKET DRIVER ANALYSIS
- 3.3.1.1 Increasing prevalence of zoonotic diseases
- 3.3.1.2 Rising number of pet owners & veterinary practitioners
- 3.3.1.3 Rising demand for imaging devices
- 3.3.1.4 Rapid technological advancements
- 3.3.2 MARKET RESTRAINT ANALYSIS
- 3.3.2.1 High cost of devices
- 3.3.2.2 Lack of skilled veterinarians
- 3.3.3 MARKET OPPORTUNITY ANALYSIS
- 3.3.4 MARKET CHALLENGE ANALYSIS
- 3.4 Industry Analysis
- 3.4.1 PORTER'S 5 FORCES ANALYSIS
- 3.4.1.1 Bargaining Power of Buyers
- 3.4.1.2 Bargaining Power of Suppliers
- 3.4.1.3 Threat of New Entrants
- 3.4.1.4 Threat of Substitutes
- 3.4.1.5 Industry Rivalry: High
- 3.4.2 PESTEL ANALYSIS
- 3.4.2.1 Political & Legal Landscape
- 3.4.2.2 Economic & Social Landscape
- 3.4.2.3 Environmental Landscape
- 3.4.2.4 Technology Landscape
- 3.5 Estimated Animal Population, 2018-2022, by Key Species & Key Countries
- 3.6 Regulatory & Reimbursement Landscape
- 3.7 Pricing Analysis
- 3.8 COVID-19 Impact Analysis
Chapter 4 Veterinary X-ray Market: Animal Type Estimates & Trend Analysis, 2018 - 2030 (USD Million)
- 4.1 Animal Type Market Share Analysis, 2022 & 2030
- 4.2 Veterinary X-ray Market: Animal Type Key Takeaways, 2018 to 2030
- 4.3 Small Animals
- 4.3.1 Small Animals market estimates and forecasts, 2018 - 2030 (USD Million)
- 4.4 Large Animals
- 4.4.1 Large Animals market estimates and forecasts, 2018 - 2030 (USD Million)
Chapter 5 Veterinary X-ray Market: Solutions Estimates & Trend Analysis, 2018 - 2030 (USD Million)
- 5.1 Solutions Market Share Analysis, 2022 & 2030
- 5.2 Veterinary X-ray Market: Solutions Key Takeaways, 2018 to 2030
- 5.3 Equipment
- 5.3.1 Equipment market estimates and forecasts, 2018 - 2030 (USD Million)
- 5.4 Accessories/ Consumables
- 5.4.1 Accessories/ Consumables market estimates and forecasts, 2018 - 2030 (USD Million)
- 5.5 PACS
- 5.5.1 PACS market estimates and forecasts, 2018 - 2030 (USD Million)
Chapter 6 Veterinary X-ray Market: Technology Estimates & Trend Analysis, 2018 - 2030 (USD Million)
- 6.1 Technology Market Share Analysis, 2022 & 2030
- 6.2 Veterinary X-ray Market: Technology Key Takeaways, 2018 to 2030
- 6.3 Direct (Capture) Radiography
- 6.3.1 Direct (Capture) Radiography market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.4 Computed Radiography
- 6.4.1 Computed Radiography market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.5 Film-based Radiography
- 6.5.1 Film-based Radiography market estimates and forecasts, 2018 - 2030 (USD Million)
Chapter 7 Veterinary X-ray Market: Portability Estimates & Trend Analysis, 2018 - 2030 (USD Million)
- 7.1 Portability Market Share Analysis, 2022 & 2030
- 7.2 Veterinary X-ray Market: Portability Key Takeaways, 2018 to 2030
- 7.3 Fixed
- 7.3.1 Fixed market estimates and forecasts, 2018 - 2030 (USD Million)
- 7.4 Mobile
- 7.4.1 Mobile market estimates and forecasts, 2018 - 2030 (USD Million)
Chapter 8 Veterinary X-ray Market: Type Estimates & Trend Analysis, 2018 - 2030 (USD Million)
- 8.1 Type Market Share Analysis, 2022 & 2030
- 8.2 Veterinary X-ray Market: Type Key Takeaways, 2018 to 2030
- 8.3 Digital
- 8.3.1 Digital market estimates and forecasts, 2018 - 2030 (USD Million)
- 8.4 Analog
- 8.4.1 Analog market estimates and forecasts, 2018 - 2030 (USD Million)
Chapter 9 Veterinary X-ray Market: Application Estimates & Trend Analysis, 2018 - 2030 (USD Million)
- 9.1 Application Market Share Analysis, 2022 & 2030
- 9.2 Veterinary X-ray Market: Application Key Takeaways, 2018 to 2030
- 9.3 Orthopedics and Trauma
- 9.3.1 Orthopedics and Trauma market estimates and forecasts, 2018 - 2030 (USD Million)
- 9.4 Respiratory
- 9.4.1 Respiratory market estimates and forecasts, 2018 - 2030 (USD Million)
- 9.5 Gastrointestinal
- 9.5.1 Gastrointestinal market estimates and forecasts, 2018 - 2030 (USD Million)
- 9.6 Dentistry
- 9.6.1 Dentistry market estimates and forecasts, 2018 - 2030 (USD Million)
- 9.7 Other Applications
- 9.7.1 Other Applications market estimates and forecasts, 2018 - 2030 (USD Million)
Chapter 10 Veterinary X-ray Market: End-user Estimates & Trend Analysis, 2018 - 2030 (USD Million)
- 10.1 End-user Market Share Analysis, 2022 & 2030
- 10.2 Veterinary X-ray Market: End-user Key Takeaways, 2018 to 2030
- 10.3 Veterinary Clinics & Hospitals
- 10.3.1 Veterinary Clinics & Hospitals market estimates and forecasts, 2018 - 2030 (USD Million)
- 10.4 Other End Use
- 10.4.1 Other End-Use market estimates and forecasts, 2018 - 2030 (USD Million)
Chapter 11 Veterinary X-ray Market: Regional Market Estimates & Trend Analysis, 2018 - 2030 (USD Million)
- 11.1 Regional Market Share Analysis, 2022 & 2030
- 11.2 Regional Market Snapshot
- 11.3 North America
- 11.3.1 SWOT ANALYSIS:
- 11.3.1.1 North America Veterinary X-ray market estimates and forecasts, 2018 - 2030 (USD Million)
- 11.3.2 U.S.
- 11.3.2.1 Key Country Dynamics
- 11.3.2.2 Competitive Scenario
- 11.3.2.3 U.S. Veterinary X-ray market estimates and forecasts, 2018 - 2030 (USD Million)
- 11.3.3 Canada
- 11.3.3.1 Key Country Dynamics
- 11.3.3.2 Competitive Scenario
- 11.3.3.3 Canada Veterinary X-ray market estimates and forecasts, 2018 - 2030 (USD Million)
- 11.4 Europe
- 11.4.1 SWOT ANALYSIS:
- 11.4.1.1 Europe Veterinary X-ray market estimates and forecasts, 2018 - 2030 (USD Million)
- 11.4.2 UK
- 11.4.2.1 Key Country Dynamics
- 11.4.2.2 Competitive Scenario
- 11.4.2.3 Regulatory Framework
- 11.4.2.4 UK Veterinary X-ray market estimates and forecasts, 2018 - 2030 (USD Million)
- 11.4.3 Germany
- 11.4.3.1 Key Country Dynamics
- 11.4.3.2 Competitive Scenario
- 11.4.3.3 Germany Veterinary X-ray market estimates and forecasts, 2018 - 2030 (USD Million)
- 11.4.4 France
- 11.4.4.1 Key Country Dynamics
- 11.4.4.2 Competitive Scenario
- 11.4.4.3 France Veterinary X-ray market estimates and forecasts, 2018 - 2030 (USD Million)
- 11.4.5 Italy
- 11.4.5.1 Key Country Dynamics
- 11.4.5.2 Competitive Scenario
- 11.4.5.3 Italy Veterinary X-ray market estimates and forecasts, 2018 - 2030 (USD Million)
- 11.4.6 Spain
- 11.4.6.1 Key Country Dynamics
- 11.4.6.2 Competitive Scenario
- 11.4.6.3 Spain Veterinary X-ray market estimates and forecasts, 2018 - 2030 (USD Million)
- 11.4.7 Netherlands
- 11.4.7.1 Key Country Dynamics
- 11.4.7.2 Competitive Scenario
- 11.4.7.3 Netherlands Veterinary X-ray market estimates and forecasts, 2018 - 2030 (USD Million)
- 11.4.8 Sweden
- 11.4.8.1 Key Country Dynamics
- 11.4.8.2 Competitive Scenario
- 11.4.8.3 Sweden Veterinary X-ray market estimates and forecasts, 2018 - 2030 (USD Million)
- 11.4.9 Poland
- 11.4.9.1 Key Country Dynamics
- 11.4.9.2 Competitive Scenario
- 11.4.9.3 Poland Veterinary X-ray market estimates and forecasts, 2018 - 2030 (USD Million)
- 11.4.10 Rest of Europe
- 11.4.10.1 Key Country Dynamics
- 11.4.10.2 Competitive Scenario
- 11.4.10.3 Rest of Europe Veterinary X-ray market estimates and forecasts, 2018 - 2030 (USD Million)
- 11.5 Asia Pacific
- 11.5.1 SWOT ANALYSIS:
- 11.5.1.1 Asia Pacific Veterinary X-ray market estimates and forecasts, 2018 - 2030 (USD Million)
- 11.5.2 Japan
- 11.5.2.1 Key Country Dynamics
- 11.5.2.2 Competitive Scenario
- 11.5.2.3 Japan Veterinary X-ray market estimates and forecasts, 2018 - 2030 (USD Million)
- 11.5.3 China
- 11.5.3.1 Key Country Dynamics
- 11.5.3.2 Competitive Scenario
- 11.5.3.3 China Veterinary X-ray market estimates and forecasts, 2018 - 2030 (USD Million)
- 11.5.4 India
- 11.5.4.1 Key Country Dynamics
- 11.5.4.2 Competitive Scenario
- 11.5.4.3 India Veterinary X-ray market estimates and forecasts, 2018 - 2030 (USD Million)
- 11.5.5 Australia
- 11.5.5.1 Key Country Dynamics
- 11.5.5.2 Competitive Scenario
- 11.5.5.3 Australia Veterinary X-ray market estimates and forecasts, 2018 - 2030 (USD Million)
- 11.5.6 South Korea
- 11.5.6.1 Key Country Dynamics
- 11.5.6.2 Competitive Scenario
- 11.5.6.3 South Korea Veterinary X-ray market estimates and forecasts, 2018 - 2030 (USD Million)
- 11.5.7 Rest of Asia Pacific
- 11.5.7.1 Key Country Dynamics
- 11.5.7.2 Competitive Scenario
- 11.5.7.3 Rest of Asia Pacific Veterinary X-ray market estimates and forecasts, 2018 - 2030 (USD Million)
- 11.6 Latin America
- 11.6.1 SWOT ANALYSIS:
- 11.6.1.1 Latin America Veterinary X-ray market estimates and forecasts, 2018 - 2030 (USD Million)
- 11.6.2 Brazil
- 11.6.2.1 Key Country Dynamics
- 11.6.2.2 Competitive Scenario
- 11.6.2.3 Brazil Veterinary X-ray market estimates and forecasts, 2018 - 2030 (USD Million)
- 11.6.3 Mexico
- 11.6.3.1 Key Country Dynamics
- 11.6.3.2 Competitive Scenario
- 11.6.3.3 Mexico Veterinary X-ray market estimates and forecasts, 2018 - 2030 (USD Million)
- 11.6.4 Argentina
- 11.6.4.1 Key Country Dynamics
- 11.6.4.2 Competitive Scenario
- 11.6.4.3 Argentina Veterinary X-ray market estimates and forecasts, 2018 - 2030 (USD Million)
- 11.6.5 Rest of Latin America
- 11.6.5.1 Key Country Dynamics
- 11.6.5.2 Competitive Scenario
- 11.6.5.3 Rest of Latin America Veterinary X-ray market estimates and forecasts, 2018 - 2030 (USD Million)
- 11.7 MEA
- 11.7.1 SWOT ANALYSIS:
- 11.7.1.1 MEA Veterinary X-ray market estimates and forecasts, 2018 - 2030 (USD Million)
- 11.7.2 South Africa
- 11.7.2.1 Key Country Dynamics
- 11.7.2.2 Competitive Scenario
- 11.7.2.3 South Africa Veterinary X-ray market estimates and forecasts, 2018 - 2030 (USD Million)
- 11.7.3 UAE
- 11.7.3.1 Key Country Dynamics
- 11.7.3.2 Competitive Scenario
- 11.7.3.3 UAE Veterinary X-ray market estimates and forecasts, 2018 - 2030 (USD Million)
- 11.7.4 Israel
- 11.7.4.1 Key Country Dynamics
- 11.7.4.2 Competitive Scenario
- 11.7.4.3 Israel Veterinary X-ray market estimates and forecasts, 2018 - 2030 (USD Million)
- 11.7.5 Rest of MEA
- 11.7.5.1 Key Country Dynamics
- 11.7.5.2 Competitive Scenario
- 11.7.5.3 Rest of MEA Veterinary X-ray market estimates and forecasts, 2018 - 2030 (USD Million)
Chapter 12 Veterinary X-ray Market - Competitive Landscape
- 12.1 Market Participant Categorization
- 12.2 Company Profiles
- 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
- 12.2.1 Participant's Overview
- 12.2.2 Financial Performance
- 12.2.3 Product/Service Benchmarking
- 12.2.4 Strategy Mapping
- 12.3 Estimated Company Market Share Analysis, 2022
- 12.4 List of Other Key Market Players