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North America holds a significant share of the veterinary diagnostic imaging industry owing to the rising pet adoption, especially among the millennial and Gen-Z population. The increasing spending on pet healthcare to boost the quality of life of pets is surging the demand for veterinary diagnostic imaging systems, which is driving the market growth. As countries like the United States and Canada have various veterinary hospitals offering optimal animal healthcare, advanced veterinary diagnostic imaging systems are increasingly deployed to bolster the treatment and therapeutics of animals, hence propelling the growth of the industry. Moreover, the advancements in imaging technologies to efficiently detect health-related issues in animals are driving the growth of the market. With the increasing shortage of skilled labour force to efficiently assess images, the demand for artificial intelligence (AI)-enabled veterinary diagnostic imaging systems to automate image assessment is surging, which is expected to provide further impetus to the growth of the market in upcoming years.
IDEXX Laboratories, Inc (NASDAQ: IDXX), one of the leading companies in the market, expanded its ImageVue digital imaging portfolio in August 2020. The company added ImageVue DR30 Digital Imaging System that enhances the accessibility of improved radiation and high-quality images. The system offers cost-effective and advanced low-dose digital radiography to boost its accessibility to veterinarian professionals. The high-imaging quality enables veterinarian professionals to make an accurate diagnosis while bolstering their safety. It also offers consumers access to IDEXX specialists and facilitates the integration of the system with practice management software systems to aid in reducing missed charges. Such innovative solutions are significantly contributing to the market growth.
Market Analysis by Equipment, Application, Animal Type, and Region:
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The major players in the global veterinary diagnostic imaging market are Canon Medical Systems Corporation, Epica Animal Health, Carestream Health, Esaote SPA, IDEXX Laboratories, Inc, and IMV Imaging, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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