The Global Veterinary Imaging Market is valued at $1.98 billion in 2015 and is expected to grow at a CAGR of 7.1% to reach $3.21 billion by 2022. Increasing demand for diagnostic equipment for the appropriate care of pets is one of the key factors fueling the market growth. Furthermore, the growing services of pet animal insurance in the developed regions are favoring the market growth. On the other hand, high initial cost is expected to hamper market during the forecast period.
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North America and Europe are major markets and are anticipated to witness strong growth over the forecast period. The growth is attributed to the rising disposable income in these regions which is creating awareness for better pet care. Furthermore, the rising concerns for cancer and tumors in small pets is also attributing to growth of the market in this region. On the other hand, Asia Pacific is untapped market and is anticipated to become a key market owing to the concept of having small pets becoming increasingly popular in countries like India and China.
Some of the key players in global Veterinary Imaging market are GE Healthcare, AGFA-Gevaert N.V., All Star X-ray Inc., Carestream Health, Inc., Diagnostic Imaging Systems, Inc., Esaote Spa, Hallmarq Veterinary Imaging Ltd., Idexx Laboratories, Inc., Mindray Medical International Ltd., Minxray Inc. , Ozark Imaging, Toshiba Corporation, Triangle X-ray Co, UMG/DEL Medical, and VCA Antech, Inc.
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