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Home / Reports
/ Medical
Device
/ Veterinary Imaging Market
Market Overview
Market Research Future (MRFR) states that the Veterinary Imaging Market can obtain a CAGR of 7.14% from 2016 to
2025 (evaluation period). It is also expected that the market size can touch USD 2167.78 Million by 2025.
COVID-19 Analysis
The COVID-19 outbreak has left a debilitating impact on the veterinary imaging sector, given the temporary
shutdown of manufacturing facilities and weakened demand. Along with the ongoing efforts to curb the spread
of SARS-CoV-2, top vet imaging systems vendors are trying to bolster their supply chains and accelerate their
operations to control further losses. They are also putting in efforts with respect to research and development
and enter joint ventures to address the financial issues arising from the pandemic. Additionally, with the
gradual lifting up of the lockdown across countries and the novel coronavirus under control, the global market
for veterinary imaging should be able to recover faster in the upcoming period.
Market Dynamics
Drivers
Market Growth to be Boosted by the Rising Pet Healthcare Spending
People are increasingly spending substantial amounts on animal healthcare that includes pet food, pet
insurance policies, veterinary care, supplies/over-the-counter medications, and companion animal diagnostic
services. Most of the pet owners, particularly in major regions like Europe and North America purchase pet
insurance due to the high pet care expenditure, and this factor is bound to work in favor of the veterinary
imaging market over the review period.
Opportunities
Emerging Markets to Offer Attractive Opportunities
There has been a stunning increase in companion animal ownership across the world in recent years,
especially in emerging markets like Asia Pacific and Latin America. These regions offer a host of opportunities
owing to the fas