PUBLISHER: The Business Research Company | PRODUCT CODE: 1826845
PUBLISHER: The Business Research Company | PRODUCT CODE: 1826845
Veterinary diagnostic imaging involves using advanced imaging technologies to visualize the internal structures of animals for diagnostic and therapeutic purposes. This field is essential in veterinary medicine, helping veterinarians diagnose, monitor, and treat various conditions in pets, livestock, and wildlife.
The main products in veterinary diagnostic imaging include instruments, reagents, services, and veterinary PACS (Picture Archiving and Communication Systems). Instruments are the tools used to capture diagnostic images of animals, such as X-ray machines, ultrasound devices, and magnetic resonance imaging (MRI) scanners. The animal types involved are small animals and large animals. The range of equipment includes radiography (X-ray) systems, ultrasound imaging systems, computed tomography (CT) imaging systems, MRI systems, video endoscopy imaging systems, and others. These systems are applied in fields such as orthopedics and traumatology, oncology, and cardiology, with end-users including veterinary hospitals, academic and research institutions, and other facilities.
Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.
The sharp rise in U.S. tariffs and the resulting trade tensions in spring 2025 are having a significant impact on the healthcare sector, especially in the supply of essential medical devices, diagnostic equipment, and pharmaceuticals. Hospitals and healthcare providers are grappling with higher costs for imported surgical tools, imaging systems, and consumables like syringes and catheters, many of which have limited domestic substitutes. These escalating expenses are putting pressure on healthcare budgets, prompting some providers to delay equipment upgrades or pass increased costs on to patients. Furthermore, tariffs on raw materials and components are disrupting the manufacturing of vital drugs and devices, leading to supply chain delays. In response, the industry is adopting diversified sourcing strategies, expanding local production where feasible, and pushing for tariff exemptions on critical medical products.
The veterinary diagnostic imaging market research report is one of a series of new reports from The Business Research Company that provides veterinary diagnostic imaging market statistics, including veterinary diagnostic imaging industry global market size, regional shares, competitors with a veterinary diagnostic imaging market share, detailed veterinary diagnostic imaging market segments, market trends and opportunities, and any further data you may need to thrive in the veterinary diagnostic imaging industry. This veterinary diagnostic imaging market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The veterinary diagnostic imaging market size has grown strongly in recent years. It will grow from $2.2 billion in 2024 to $2.37 billion in 2025 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to rising pet ownership, increasing animal healthcare awareness, growing demand for pet insurance, increasing focus on preventive healthcare, and rising number of veterinary practices.
The veterinary diagnostic imaging market size is expected to see strong growth in the next few years. It will grow to $3.16 billion in 2029 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to expanding animal population, rising awareness about animal welfare, increasing adoption of telemedicine in veterinary care, growth in livestock production, and increasing demand for better diagnostic accuracy. Major trends in the forecast period include advancements in diagnostic technologies, rapid technological innovation in imaging equipment, development of artificial intelligence AI in veterinary diagnostics, integration of machine learning in diagnostic tools, and advancements in magnetic resonance imaging (MRI) systems.
The forecast of 7.5% growth over the next five years reflects a slight reduction of 0.2% from the previous projection. This reduction is primarily due to the impact of tariffs between the US and other countries. Tariff barriers are expected to hamper the U.S. by increasing the cost of high-resolution veterinary Magnetic resonance imaging and ultrasound systems sourced from Germany and Japan, thereby delaying accurate animal diagnoses and elevating veterinary hospital expenditures. The effect will also be felt more widely due to reciprocal tariffs and the negative effect on the global economy and trade due to increased trade tensions and restrictions.
The growing animal population is expected to drive the expansion of the veterinary diagnostic imaging market. This increase is attributed to factors such as rising pet ownership, improved animal healthcare, and a greater demand for livestock, all of which contribute to food security, sustainable agriculture, and stronger human-animal relationships. Veterinary diagnostic imaging plays a crucial role in animal healthcare by enabling precise diagnoses, improving treatment outcomes, and monitoring health conditions, ultimately enhancing overall animal well-being. For example, in November 2024, the American Veterinary Medical Association reported that the dog population in the U.S. grew from 53.4 million in 2023 to 59.8 million in 2024. Thus, the growing animal population is a key driver of the veterinary diagnostic imaging market.
Companies operating in the veterinary diagnostic imaging market are increasingly focusing on AI-powered solutions, such as veterinary X-ray interpretation, to improve diagnostic accuracy, reduce turnaround times, and enhance patient care in veterinary settings. AI-powered veterinary X-ray interpretation uses artificial intelligence and machine learning technologies to assist veterinarians in analyzing radiographic images (X-rays) of animals. This technology improves diagnostic accuracy, accelerates decision-making, and alleviates the workload of veterinary professionals by automating the detection of abnormalities and providing detailed analysis. For instance, in January 2024, SignalPET LLC, a US-based company offering AI-based solutions for veterinary practices, launched SignalSTAT, an AI-powered X-ray interpretation solution. This system provides quick and accurate assessments with expert oversight, guaranteeing a 45-minute turnaround time, available 24/7. By combining AI with human expertise, SignalSTAT ensures rapid and precise interpretation of veterinary X-rays, optimizing diagnostic efficiency and enhancing care. The technology is built on continually improving machine-learning algorithms that get better over time through global use by veterinarians.
In June 2023, Mars Inc., a US-based food company, acquired Heska Corporation to strengthen its science and diagnostics division. This acquisition enables Mars Petcare to integrate Heska's advanced veterinary diagnostic products, expanding its capabilities in imaging, telemedicine, and software. By doing so, Mars Petcare aims to drive innovative solutions for pet health and broaden its offerings in the veterinary care market. Heska Corporation is known for developing and manufacturing veterinary diagnostic imaging technologies for companion and other animals.
Major players in the veterinary diagnostic imaging market are Siemens Healthineers AG, General Electric Company, Fujifilm Holdings Corporation, Konica Minolta Inc, VCA Inc, Covetrus Inc., IDEXX Laboratories Inc., Shenzhen Mindray Bio-Medl Elctrnc Co Ltd, Agfa-Gevaert NV, Carestream Health Inc, CVS Limited, Esaote SPA, Canon Medical Systems Corporation, MXR Imaging Inc, Sound Technologies Inc, Heska Corporation, Universal Medical Systems, Inc., Clarius Mobile Health Corp., IMV Imaging, Epica Animal Health, Hallmarq Veterinary Imaging Ltd.
North America was the largest region in the veterinary diagnostic imaging market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in veterinary diagnostic imaging report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the veterinary diagnostic imaging market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The veterinary diagnostic imaging market consists of revenues earned by entities by providing services such as nuclear medicine imaging for diagnosing and monitoring animal health conditions. The market value includes the value of related goods such as imaging equipment, diagnostic tools, software solutions, and support services. The veterinary diagnostic imaging market also includes sales of imaging equipment such as nuclear imaging systems, and associated software and accessories used for diagnosing and monitoring animal health conditions. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values generated by organizations in the specified geography within the market, irrespective of where they are produced. They do not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Veterinary Diagnostic Imaging Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on veterinary diagnostic imaging market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for veterinary diagnostic imaging ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The veterinary diagnostic imaging market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.