Veterinary imaging market projected to speed past $2B in upcoming years
Analyst company, MarketsandMarkets projects that the veterinary imaging market will grow to a value of $2.3 billion by 2026 in a report on the segment. The value would be an increase of 7.0 CAGR% from the 2021 value of $1.6 billion.
Analyst company, MarketsandMarkets projects that the veterinary imaging market will grow to a value of $2.3 billion by 2026 in a report on the segment. The value would be an increase of 7.0 CAGR% from the 2021 value of $1.6 billion.
The value uptick in veterinary imaging is based on the overall growth in veterinary needs due to greater numbers of companion animals, increased numbers of pet owners with pet insurance, increased amount of spending on pets, higher rates of disease in pets, and changing demands of pet owners. Within the market report, small companion animals were anticipated to have the highest rate of growth through 2026.
After a temporary slowdown from the pandemic, the veterinary imaging market is expected to grow in the coming years. Across segments in the market, orthopedics and trauma-related imaging took the largest share by treatment area in 2020. This was due to growing rates of pet injuries, and rates of joint disease like arthritis in veterinary patients.
By product, the segment of instruments garnered the largest portion based on the proliferation of digital devices. The report includes imaging segments of 2-D, 3-D, ultrasound, doppler, and MRI or CT. By specialty, the report includes dentistry, oncology, gynecology, and orthopedics.
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