Vet imaging market to reach $3B
by Katie Pfaff
The global market for veterinary imaging is projected to grow between 2022 to 2030, the market forecast period, according to a report by market analysts, Global Market Insights Inc. The market was estimated at a value of $1.6 billion in 2021 and is thought to reach a value of $3 billion in 2030.
Growth across the period was projected as the veterinary imaging market has seen significant technology advances that have made it more readily useable in veterinary care. The improvements in imaging devices, such as ultrasound and computed tomography, have increased accuracy and speed for better detection of disease.
Veterinary software as part of the overall veterinary imaging market was valued at $207 million in 2021. At the same time, the companion animal segment within the veterinary imaging market was forecast to increase by a CAGR of 6.3% across the forecast period of 2022 to 2030 due to the higher rates of pet adoptions and their care needs.
When divided by type of care, the oncology segment of the veterinary imaging market was forecast to grow by a CAGR of 6.5% and to grow to more than a value of $900 million by the close of the period in 2030.
By end user, the veterinary hospital segment is expected to grow through 2030 after attaining a 47.5% portion of the 2022 market.
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