Europe Veterinary Imaging Market

Europe Veterinary Imaging Market Size (2022 To 2027)

The European veterinary imaging market is anticipated to grow at a CAGR of 6.32% from 2022 to 2027. The market size is expected to be USD 870 million by 2027 from USD 640 million in 2022.

The growing pet adoption by the European population is driving the European veterinary imaging market growth. According to a recent European survey, an estimated 38% of households have a pet. Furthermore, the adoption rate has increased during the COVID-19 pandemic period. As a result, owners' increasing care toward pets results in regular hospital visits, which drives the regional market growth. Additionally, increasing advertisements about animal diseases give pet owners information about possible diseases that may affect their pets, like tumors and different types of cancer in animals; pet owners are seeking veterinary imaging to prevent such diagnoses supporting market growth. Veterinary imaging is a non-invasive procedure, and it helps detect any diseases in animals through images of the inside of the animal’s body for a precise analysis.

The rising adoption of pet insurance policies and increasing incidence of chronic diseases further fuelling the European market's growth rate. Most pet owners now buy pet insurance, which helps them take the treatment at a minimal cost. Pet insurance includes no cost for some disease diagnoses and treatment. In addition, it has additional features, such as providing home-based devices that may help detect a few types of illness in pet animals for further treatment.

Furthermore, the growing development of various imaging devices to treat various diseases and to increase the adoption of technological developments in the manufacturing of veterinary imaging equipment are anticipated to result in regional market growth. Therefore, the critical player is focusing on developing imaging devices that increase the image quality of the body parts, which helps with the appropriate treatment. Additionally, increasing meat and dairy consumption in recent years have promoted regional market growth.

However, a lack of awareness regarding veterinary healthcare limits Europe's market’s growth rate. In addition, the scarcity of skilled workforce and lack of well-equipped infrastructure in veterinary hospitals hamper the European veterinary imaging market growth. Furthermore, the high costs associated with veterinary imaging equipment are another notable factor hindering the growth of the Europe veterinary imaging market.

This research report on the Europe veterinary imaging market has been segmented and sub-segmented into the following categories.

By Product:

• Radiography (X-ray) Systems
• Ultrasound Imaging Systems
• Computed Tomography Imaging Systems
• Video Endoscopy Imaging Systems

Based on product, the radiography (X-ray) systems segment had the largest share of the European veterinary imaging market in 2021.

By Application:

• Orthopedics and Traumatology
• Oncology
• Cardiology
• Neurology

Based on application, the cardiology segment had the major share of the European market in 2021.

By Animal Type:

• Small Animals
• Large Animals

Based on animal type, the small animal segment occupied the leading share of the European veterinary imaging market in 2021.

By End-User:

• Clinics and Hospitals
• Reference Labs

Based on end-user, the clinics and hospitals segment led the market in 2021.

By Country:

• UK
• France
• Spain
• Germany
• Italy
• Russia
• Sweden
• Denmark
• Switzerland
• Netherlands
• Turkey
• Czech Republic
• Rest of Europe

The European region had the second biggest share of the worldwide market in 2021 and is estimated to showcase a healthy CAGR during the forecast period owing to the growing healthcare expenditure for pet animals. An estimated 70,000 veterinary services are provided in Europe. Furthermore, the service centers in the European region are expected to keep increasing in the coming years owing to the growing investments in animal welfare by the European governments.

Germany held a substantial share of the European market in 2021 and is expected to hold decent occupancy in the European market during the forecast period owing to the rising number of specialists in the German veterinary industry. In addition, owing to increasing awareness regarding veterinary healthcare, increasing number of veterinary practitioners, and rising focus of researchers on developing various types of drugs and medical devices for advanced treatments, the German veterinary imaging market is estimated to register a healthy CAGR.

The UK had a considerable share of the European market in 2021. The availability of many veterinary diagnostic clinics in the United Kingdom is the primary factor driving the UK market growth. In addition, the presence of top universities for post-graduation in veterinary imaging also helps with the market's demand. These universities use different imaging systems for veterinary treatment to learn how to treat animals.

KEY MARKET PLAYERS:

Clearvet Digital Radiography Systems, Draminski S.A., E.I. Medical Imaging, Epica Animal Health, Esaote S.P.A., Fujifilm Holdings Corporation, GE Healthcare (A Division of General Electric Company), Hallmarq Veterinary Imaging, Heska Corporation, Konica Minolta Inc., Mindray Medical International Limited, Minxray Inc. and Reproscan are a few of the noteworthy players in the European veterinary imaging market.