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Animal Imaging Market Analysis by Type {Instrument (Radiography X-Ray, Ultrasound Imaging, and Others), Reagent (Ultrasound Contrast Regents, MRI Contrast Regents, Fluorescent Imaging Reagent, and Others), Software (RIS PACS, CVIS PACS, and Others), and Services (Interventional Radiology, Endoscopy, and Advanced Imaging Services)}; and by Animal Type (Small Animal, and Large Animal) – Global Supply & Demand Analysis & Opportunity Outlook 2021 – 2031

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • June 8, 2021: MXR Imaging, Inc., the biggest independent provider of imaging sales and service in the United States, has teamed with Konica Minolta for the Imaging Excellence Program, which provides a complete approach to medical imaging solutions for healthcare institutions across numerous departments, modalities, and imaging applications.
  • April 7, 2022: PerkinElmer, Inc., a global leader devoted to innovating for a healthier society, today announced the launch of the Vega imaging system, a first-of-its-kind ultrasound platform that combines hands-free, automated technology with high-throughput capability to expedite non-invasive research and drug development investigations of cancer, liver and kidney disease, cardiology, and other diseases.

Global Animal Imaging Market Size, Forecast, and Trend Highlights Over 2021 - 2031

Base Year

2021

Forecast Year

2022-2031

CAGR

6.78%

Base Year Market Size (2021)

USD 1881.8 Million

Forecast Year Market Size (2031)

USD 3606.8 Million

​​​​​​The global animal imaging market is estimated to garner a revenue of USD 3,606.8 Million by the end of 2031 by growing at a CAGR of 6.78% over the forecast period, i.e., 2022 - 2031. Further, the market generated a revenue of USD 1,881.8 Million in the year 2021. The growth of the market can be attributed to the increase in population of pet all around the globe. Over half a billion dogs and cats are owned by families in the U.S., Brazil, EU, and China alone, and it is believed that more than half of people worldwide have a pet at home.

Animal Imaging Market Overview ChartGet more information on this report: Request Sample PDF

Animal imaging involves collecting images of animals in order to diagnose disease. Hence pet owners are expected to spend more on animal imaging. Further, growing expenditure on pet insurance and animal health is also expected to boost the growth of the market in the forecast period. According to the North American Pet Health Insurance Association, the adoption rate of pet health insurance in the United States is 2.3% for dogs and 0.4% for cats (NAPHIA).

Global Animal Imaging Market: Growth Drivers and Challenges

Growth Drivers

  • Rise in Zoonotic Diseases Across the GlobeAbout two million individuals each year, primarily in low- and middle-income nations, die from neglected zoonotic illnesses. For the prevention and protection of agronomic health, effective management and control of infectious diseases have become essential. Hence a favourable environment for the expansion of the global animal imaging market would be created by the growing demand for early detection of these zoonotic illnesses through suitable diagnostic tests.
  • Rapid Urbanization & an Increase in Disposable IncomesChina's urbanisation has grown quickly over the past ten years, from 32.93% in 2007 to 60.6% in 2019 and 65.5% in 2025, respectively.
  • Growing Number of Pet Owners: The United States ranks fifth in terms of pet ownership and third in terms of cat ownership. 70 percent of US customers own at least one pet, with 50 percent owning dogs and 39 percent owning cats.
  • Surge in Demand for Veterinary Services: Comparing January to June 2022 to the same period in 2021, Joii Pet Care observed an approximate 14% rise in veterinarian consultations.
  • Technology Advancement in Animal ImagingClinical and preclinical imaging have benefitted greatly from the use of multimodality imaging, particularly PET/CT. According to clinical examples, combining anatomical features revealed by CT scans and functional data from PET scans into a single image with high fusion accuracy creates a sophisticated diagnosis tool and research platform.

Challenges

  • High Cost of Imaging Services
  • Inadequate Reimbursement Policies
  • Stringent Government Regulations for the Use of Animals in Research

The high-resolution imaging services, such ultrasound, X-rays, MRI, or CT scans, that are utilised to identify minor issues in the animals are typically very expensive. The diagnostic technology also requires large installation and operational costs, which drives up the price of services. Hence this factor is expected to hinder the growth of the market.

The global animal imaging market is segmented and analysed for demand and supply by animal type into small animal, and large animal. Out of which the small animal segment is anticipated to hold the largest revenue by the end of 2031, backed by increasing adoption of animals. Every year, almost 4.1 million animals from shelters are adopted, of whom 2 million are dogs and 2.1 million are cats. Also, to rise in spending on medication of animals in order to improve their health is also expected to boost the growth of the market. However, the large animal segment is estimated to grow with a highest CAGR of 6.81% over the forecast period.

Global Animal Imaging Market Regional Synopsis

Regionally, the global animal imaging market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in North America is projected to hold the largest market share of USD 1,239.6 Million by the end of 2031, up from a revenue of USD 660.5 Million in the year 2021. However, the market in Asia Pacific region is anticipated to grow with a highest CAGR of 7.70% during the forecast period.

Further, the market in Europe region is projected to garner the second highest revenue of USD 1,049.0 Million by the end of 2031, backed by growing pet population in this region. According to the FEDIAF data, 46% of European homes owned pets as of the end of 2021. Moreover, the Europe region is segmented into countries including UK, Germany, France, Italy, and others. Out of these countries, the market in France is anticipated to garner the largest revenue of USD 169.6 Million in the year 2031.

The study further incorporates Y-O-Y Growth, market opportunities, demand & supply and forecast future opportunity in North America (United States, Canada, Mexico), South America, Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).

Market Segmentation

Our in-depth analysis of the global animal imaging market includes the following segments:

By Type

  • Instrument
    • Radiography X-Ray
    • Ultrasound Imaging
    • CT Imaging
    • Video Endoscopy Imaging
    • Magnetic Resonance Imaging
    • Bioluminescence Imaging
    • Others
  • Reagent
    • Ultrasound Contrast Regents
    • MRI Contrast Regents
    • X-Ray /CT Contrast Reagents
    • Bioluminescent Imaging Reagent
    • Fluorescent Imaging Reagent
    • Nuclear Imaging Reagent (Imaging Radiopharmaceuticals)
    • Others
  • Software
    • RIS PACS
    • CVIS PACS
    • Others
  • Services
    • Interventional Radiology
    • Endoscopy
    • Advanced Imaging Services

By Animal Type

  • Small Animal
  • Large Animal

Key Companies Dominating the Global Animal Imaging Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global animal imaging market that are included in our report are IDEXX Laboratories, Inc., Esaotae SPA, Carestream Health, Inc., GE Healthcare, Virbac Group, Elanco Animal Health, Merck Animal Health, Heska Corporation, MXR Imaging Inc., VCA Animal Hospitals, Kyoritsu Seiyaku Corporation, and SHIMA laboratories Co., Ltd. The market research report also covers an in-depth analysis of the reagent manufactures who are associated with animal imaging, the profiling of which includes organizations such as Promega Corporation, PerkinElmer Inc., Bayer AG, Merck & Co., Inc., and Thermo Fisher Scientific.

FREQUENTLY ASKED QUESTIONS

Global Animal Imaging Market TOC

  1. Market Definition
    1. Market Definition
    2. Market Segmentation
    3. Product overview
  2. Assumptions and Acronyms
  3. Research Methodology
    1. Research Process
    2. Primary Research
    3. Secondary Research
    4. Market Size Estimation
  4. Executive Summary – Global Animal Imaging Market
  5. Market Dynamics
    1. Drivers
    2. Trends
    3. Opportunities
    4. Roadblocks
  6. Regulatory and Standards Landscape
  7. Industry Risk Analysis
  8. Pricing Analysis of Global Animal Imaging Market
  9. Value Chain Analysis
  10. Impact of COVID-19 on the Global Animal Imaging Market
  11. Patent Analysis
  12. Analysis on Key type of Animal
  13. Competitive Landscape
    1. Market Share Snalysis, 2021
    2. Competitive Positioning and Competitive Benchmarking
    3. Global Company Profiles
      1.  IDEXX Laboratories, Inc.
        1. Detailed Overview
        2. Assessment of Key Strategies
        3. Exhaustive Analysis on Key Financial Indicators
        4. Recent Developments
      2. Esaotae SPA
      3. VCA INC.
      4. Carestream Health Inc.
      5. GE Healthcare
      6. Virbac Group
      7. Elanco Animal Health
      8. Merck Animal Health
      9. Heska Corporation
      10. MXR Imaging Inc.
      11. Kyoritsu Seiyaku Corporation
      12. SHIMA laboratories Co., Ltd
    4. Imaging Reagents Manufacturers
      1. Promega Corporation
      2. PerkinElmer Inc.
      3. Bayer AG
      4. Sigma-Aldrich
      5. Thermo Fisher Scientific
  14. Global Animal Imaging Market
    1. Market Overview
    2. Market Size (2021–2031)
    3. Market Segmentation by:
      1. Type
        1. Instrument, 2021-2031F (USD million)
          1. Radiography X-ray, 2021-2031F (USD million)
          2. Ultrasound Imaging, 2021-2031F (USD million)
          3. CT Imaging, 2021-2031F (USD million)
          4. Video Endoscopy Imaging, 2021-2031F (USD million)
          5. Magnetic Resonance Imaging, 2021-2031F (USD million)
          6. Bioluminescence Imaging, 2021-2031F (USD million)
          7. Others, 2021-2031F (USD million)
        2. Reagent, 2021-2031F (USD million)
          1. Ultrasound Contrast Regents, 2021-2031F (USD million)
          2. MRI Contrast Regents, 2021-2031F (USD million)
          3. X-Ray /CT Contrast Reagents, 2021-2031F (USD million)
          4. Bioluminescent Imaging Reagent, 2021-2031F (USD million)
          5. Fluorescent Imaging Reagent, 2021-2031F (USD million)
          6. Nuclear Imaging Reagent (Imaging Radiopharmaceuticals), 2021-2031F (USD million)
            1. Others, 2021-2031F (USD million)
        3. Software, 2021-2031F (USD million)
          1. RIS PACS, 2021-2031F (USD million)
          2. CVIS PACS, 2021-2031F (USD million)
          3. Others, 2021-2031F (USD million)
        4. Services
          1. Interventional Radiology, 2021-2031F (USD million)
          2. Endoscopy, 2021-2031F (USD million)
          3. Advanced Imaging Services, 2021-2031F (USD million)
      2. Animal Type
        1. Small Animal, 2021-2031F (USD million)
        2. Large Animal, 2021-2031F (USD million)
      3. Region
        1. North America, 2021-2031F (USD million)
        2. Europe, 2021-2031F (USD million)
        3. Asia Pacific, 2021-2031F (USD million)
        4. Latin America, 2021-2031F (USD million)
        5. Middle East and Africa, 2021-2031F (USD million)
  15. North America Animal Imaging Market
    1. Market Overview
    2. Market Size (2021–2031)
    3. Market Segmentation by:
      1. Type
        1. Instrument, 2021-2031F (USD million)
          1. Radiography X-ray, 2021-2031F (USD million)
          2. Ultrasound Imaging, 2021-2031F (USD million)
          3. CT Imaging, 2021-2031F (USD million)
          4. Video Endoscopy Imaging, 2021-2031F (USD million)
          5. Magnetic Resonance Imaging, 2021-2031F (USD million)
          6. Bioluminescence Imaging, 2021-2031F (USD million)
          7. Others, 2021-2031F (USD million)
        2. Reagent, 2021-2031F (USD million)
          1. Ultrasound Contrast Regents, 2021-2031F (USD million)
          2. MRI Contrast Regents, 2021-2031F (USD million)
          3. X-Ray /CT Contrast Reagents, 2021-2031F (USD million)
          4. Bioluminescent Imaging Reagent, 2021-2031F (USD million)
          5. Fluorescent Imaging Reagent, 2021-2031F (USD million)
          6. Nuclear Imaging Reagent (Imaging Radiopharmaceuticals), 2021-2031F (USD million)
            1. Others, 2021-2031F (USD million)
        3. Software, 2021-2031F (USD million)
          1. RIS PACS, 2021-2031F (USD million)
          2. CVIS PACS, 2021-2031F (USD million)
          3. Others, 2021-2031F (USD million)
        4. Services
          1. Interventional Radiology, 2021-2031F (USD million)
          2. Endoscopy, 2021-2031F (USD million)
          3. Advanced Imaging Services, 2021-2031F (USD million)
      2. Animal Type
        1. Small Animal, 2021-2031F (USD million)
        2. Large Animal, 2021-2031F (USD million)
      3. Country
        1. US, 2021-2031F (USD million)
        2. Canada, 2021-2031F (USD million)
  16. Latin America Animal Imaging Market
    1. Market Overview
    2. Market Size (2021–2031)
    3. Market Segmentation by:
      1. By Type
      2. By Animal Type
      3. Country
        1. Brazil, 2021-2031F (USD million)
        2. Mexico, 2021-2031F (USD million)
        3. Argentina, 2021-2031F (USD million)
        4. Rest of Latin America, 2021-2031F (USD million)
  17. Europe Animal Imaging Market
    1. Market Overview
    2. Market Size (2021–2031)
    3. Market Segmentation by:
      1. By Type
      2. By Animal Type
      3. Country
        1. UK, 2021-2031F (USD million)
        2. Germany, 2021-2031F (USD million)
        3. France, 2021-2031F (USD million)
        4. Italy, 2021-2031F (USD million)
        5. Spain, 2021-2031F (USD million)
        6. Russia, 2021-2031F (USD million)
        7. Rest of Europe, 2021-2031F (USD million)
  18. Asia Pacific Animal Imaging Market
    1. Market Overview
    2. Market Size (2021–2031)
    3. Market Segmentation by:
      1. By Type
      2. By Animal Type
      3. Country
        1. China, 2021-2031F (USD million)
        2. India, 2021-2031F (USD million)
        3. Japan, 2021-2031F (USD million)
        4. South Korea, 2021-2031F (USD million)
        5. Singapore, 2021-2031F (USD million)
        6. Australia, 2021-2031F (USD million)
        7. New Zealand, 2021-2031F (USD million)
        8. Rest of Asia Pacific, 2021-2031F (USD million)
  19. Middle East and Africa Animal Imaging Market
    1. Market Overview
    2. Market Size (2021–2031)
    3. Market Segmentation by:
      1. By Type
      2. By Animal Type
      3. Country
        1. GCC, 2021-2031F (USD million)
        2. Israel, 2021-2031F (USD million)
        3. North Africa, 2021-2031F (USD million)
        4. South Africa, 2021-2031F (USD million)
        5. Rest of Middle East and Africa, 2021-2031F (USD million)

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