According to a report, “Veterinary X-ray Market Size, Share and Trends Analysis Report By Technology (Computed), By Type (Digital), By Modality (Portable), By Animal Type (Small), By End Use (Hospitals), By Application (Orthopedic & Traumatology), By Region, And Segment Forecasts, 2019 – 2026” published by Grand View Research, Inc., the global veterinary X-ray market size is expected to reach USD 651.76 million by 2026, exhibiting a CAGR of 5.6% during the forecast period. Rising pet adoption is fueling the need for healthcare facilities, and growing penetration of direct (capture) radiography, as well as technological advancements in X-ray systems, are some key factors driving growth.
As per IDEXX Laboratories, there has been an incremental growth of 2.2% in clinical visits per practice for U.S. companion animals in the first quarter of 2019. The aforementioned factors highlight the untapped opportunities for the animal diagnostics segment, inclusive of imaging.
X-ray devices help veterinarians and laboratory technicians to diagnose many conditions, including bladder stones & tumors, and determine foreign bodies in an animal’s stomach. These devices also assist in locating fractures and internal injuries. Increasing awareness about animal health along with high adoption of advanced technologies is expected to contribute toward market growth over the forecast period. For instance, advancements in digital radiography and a rise in awareness about their benefits such as cost-effectiveness and higher efficiency.
Veterinary X-ray Market Report Highlights
On the basis of technology, the computed radiography segment held a dominant share in 2018 due to increasing adoption in animal health practices.
The digital radiography segment is expected to exhibit lucrative growth over the forecast period. This growth can be attributed to benefits such as efficiency, enhanced imaging, easy accessibility, chemical-free disposal, and digital storage.
On the basis of type, the digital x-ray equipment segment held the largest market share in 2018 owing to its user-friendliness, enhanced productivity, low labor costs, and shorter capture time.
On the basis of modality, the portable x-ray segment held the largest market share in 2018 owing to the high adoption of these devices by veterinary practitioners. This can be attributed to the benefits of using these devices, including user-friendliness, lightweight, and ease of integration with digital equipment.
On the basis of the animal type, the small companion animals segment dominated the veterinary X-ray market as of 2018 due to increasing pet adoption along with rising awareness & concern among pet owners.
On the basis of applications, the orthopedic and traumatology held the largest revenue share as of 2018. This growth can be attributed to a rise in the number of injuries in animals, high demand for accurate diagnostics, and an increase in the number of animal care facilities.
The hospitals and clinics segment held the largest market share in 2018 due to the demand for fast, accurate, and cost-effective diagnostic tools in animal healthcare.
North America accounted for a dominant revenue share as of 2018 due to a rise in the number of pets and an increase in willingness to pay for their healthcare.
The Asia Pacific region is anticipated to witness significant growth over the forecast period owing to the rising investment by companies in the market coupled with a growing demand for veterinary products.
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Veterinary X-ray Market Segmentation
Grand View Research has segmented the global veterinary X-ray market on the basis of the technology, type, modality, animal type, application, end-use, and region:
Veterinary X-ray Technology Outlook (Revenue, USD Million, 2014 – 2026)
Direct (Capture) Radiography
Veterinary X-ray Type Outlook (Revenue, USD Million, 2014 – 2026)
Veterinary X-ray Modality Outlook (Revenue, USD Million, 2014 – 2026)
Veterinary X-ray Animal Type Outlook (Revenue, USD Million, 2014 – 2026)
Small Companion Animals
Veterinary X-ray Application Outlook (Revenue, USD Million, 2014 – 2026)
Orthopedics and Traumatology
Veterinary X-ray End-use Outlook (Revenue, USD Million, 2014 – 2026)
Veterinary X-ray Regional Outlook (Revenue, USD Million, 2014 – 2026)
Key Players in the Veterinary X-ray Market
IDEXX Laboratories, Inc.
Animale Esaote SpA
Boehringer Ingelheim GmbH
FUJIFILM Holdings America Corporation
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