Veterinary X-Ray Market – Rising Pet Adoption Coupled With The Growing Focus On Innovation In Animal Healthcare To Accelerate The Market Growth | Grand View Research Inc.

February 10 14:17 2021
Veterinary X-Ray Market - Rising Pet Adoption Coupled With The Growing Focus On Innovation In Animal Healthcare To Accelerate The Market Growth | Grand View Research Inc.

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According to a report published by Grand View Research, rising pet adoption coupled with the growing focus on innovation in animal healthcare, and technological advancements in the sector is anticipated to fuel the demand for the global veterinary x-ray market.

According to a report, “Veterinary X-ray Market Size, Share and Trends Analysis Report By Technology (Computed), By Type (Digital), By Modality (Portable), By Animal Type (Small), By End Use (Hospitals), By Application (Orthopedic & Traumatology), By Region, And Segment Forecasts, 2019 – 2026” published by Grand View Research, Inc., the global veterinary X-ray market size is expected to reach USD 651.76 million by 2026, exhibiting a CAGR of 5.6% during the forecast period. Rising pet adoption is fueling the need for healthcare facilities, and growing penetration of direct (capture) radiography, as well as technological advancements in X-ray systems, are some key factors driving growth. 

As per IDEXX Laboratories, there has been an incremental growth of 2.2% in clinical visits per practice for U.S. companion animals in the first quarter of 2019. The aforementioned factors highlight the untapped opportunities for the animal diagnostics segment, inclusive of imaging.

X-ray devices help veterinarians and laboratory technicians to diagnose many conditions, including bladder stones & tumors, and determine foreign bodies in an animal’s stomach. These devices also assist in locating fractures and internal injuries. Increasing awareness about animal health along with high adoption of advanced technologies is expected to contribute toward market growth over the forecast period. For instance, advancements in digital radiography and a rise in awareness about their benefits such as cost-effectiveness and higher efficiency.

U.S. veterinary X-ray market size by technology, 2014 - 2026 (USD Million)

Veterinary X-ray Market Report Highlights

  1. On the basis of technology, the computed radiography segment held a dominant share in 2018 due to increasing adoption in animal health practices.

  2. The digital radiography segment is expected to exhibit lucrative growth over the forecast period. This growth can be attributed to benefits such as efficiency, enhanced imaging, easy accessibility, chemical-free disposal, and digital storage.

  3. On the basis of type, the digital x-ray equipment segment held the largest market share in 2018 owing to its user-friendliness, enhanced productivity, low labor costs, and shorter capture time. 

  4. On the basis of modality, the portable x-ray segment held the largest market share in 2018 owing to the high adoption of these devices by veterinary practitioners. This can be attributed to the benefits of using these devices, including user-friendliness, lightweight, and ease of integration with digital equipment.

  5. On the basis of the animal type, the small companion animals segment dominated the veterinary X-ray market as of 2018 due to increasing pet adoption along with rising awareness & concern among pet owners.

  6. On the basis of applications, the orthopedic and traumatology held the largest revenue share as of 2018. This growth can be attributed to a rise in the number of injuries in animals, high demand for accurate diagnostics, and an increase in the number of animal care facilities.

  7. The hospitals and clinics segment held the largest market share in 2018 due to the demand for fast, accurate, and cost-effective diagnostic tools in animal healthcare.

  8. North America accounted for a dominant revenue share as of 2018 due to a rise in the number of pets and an increase in willingness to pay for their healthcare.

  9. The Asia Pacific region is anticipated to witness significant growth over the forecast period owing to the rising investment by companies in the market coupled with a growing demand for veterinary products.

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Veterinary X-ray Market Segmentation

Grand View Research has segmented the global veterinary X-ray market on the basis of the technology, type, modality, animal type, application, end-use, and region:

Veterinary X-ray Technology Outlook (Revenue, USD Million, 2014 – 2026)

  1. Direct (Capture) Radiography

  2. Computed Radiography

  3. Film-based Radiography

Veterinary X-ray Type Outlook (Revenue, USD Million, 2014 – 2026)

  1. Digital

  2. Analog

Veterinary X-ray Modality Outlook (Revenue, USD Million, 2014 – 2026)

  1. Portable

  2. Stationary

Veterinary X-ray Animal Type Outlook (Revenue, USD Million, 2014 – 2026)

  1. Small Companion Animals

  2. Large Animals

  3. Others

Veterinary X-ray Application Outlook (Revenue, USD Million, 2014 – 2026)

  1. Orthopedics and Traumatology

  2. Oncology

  3. Cardiology

  4. Neurology

  5. Dental Applications

  6. Others

Veterinary X-ray End-use Outlook (Revenue, USD Million, 2014 – 2026)

  1. Hospitals/Clinics

  2. Reference Laboratories

  3. Others

Veterinary X-ray Regional Outlook (Revenue, USD Million, 2014 – 2026)

  1. North America

    1. The U.S.

    2. Canada

  2. Europe

    1. The U.K.

    2. Germany

    3. France

    4. Italy

    5. Spain

  3. Asia Pacific

    1. Japan

    2. China

    3. India

  4. Latin America

    1. Mexico

    2. Brazil

  5. MEA

    1. South Africa

Key Players in the Veterinary X-ray Market

  1. IDEXX Laboratories, Inc.

  2. Animale Esaote SpA

  3. Sound

  4. Carestream Health

  5. Boehringer Ingelheim GmbH

  6. FUJIFILM Holdings America Corporation

  7. Heska Corporation

  8. DRE Veterinary

  9. Canon, Inc.

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Grand View Research is a market research and consulting company registered in the State of California having its headquarters in San Francisco. The company offers syndicated research reports, customized research reports, and consulting services. With Grand View Research, you get an opportunity to understand market trends, insights, and business statistics from a strategic standpoint. With a deep-seated understanding of many business environments, Grand View Research offers business and market intelligence studies and accomplishes more than 300 multi-country market studies.

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