Pet Scanners Market Size, Share, Industry Trends and Forecast to 2030

Pet Scanners Market Size & CAGR

The Pet Scanners market is anticipated to witness substantial growth in the coming years, with a projected market size of USD 2.5 billion in 2023. The market is expected to grow at a Compound Annual Growth Rate (CAGR) of 6.8% from 2023 to 2030, reaching a market size of USD 4.1 billion by the end of the forecast period. The increasing adoption of pet scanners for diagnostic imaging in veterinary medicine is a key driver for market growth. Technological advancements in imaging modalities and the rising awareness about early disease detection in pets are further fueling the demand for pet scanners.

COVID-19 Impact on the Pet Scanners Market

The COVID-19 pandemic has had a mixed impact on the Pet Scanners market. On one hand, the pandemic disrupted supply chains and manufacturing operations, leading to temporary disruptions in the availability of pet scanners. On the other hand, the increased focus on pet health and wellness during the pandemic has driven a surge in demand for diagnostic imaging services for pets. Veterinarians are increasingly relying on pet scanners for early disease detection and treatment planning, which has boosted market growth.

Pet Scanners Market Dynamics

The Pet Scanners market is characterized by several key dynamics that are shaping its growth trajectory. One of the primary drivers of market growth is the increasing prevalence of chronic diseases in pets, necessitating the use of advanced imaging modalities for accurate diagnosis. Technological advancements in pet scanners, such as the integration of artificial intelligence and machine learning algorithms, are also propelling market growth by enhancing the diagnostic capabilities of these devices. However, high costs associated with pet scanners and the lack of skilled professionals to operate these devices are key challenges facing the market.

Segments and Related Analysis of the Pet Scanners Market

The Pet Scanners market can be segmented based on technology, product, application, and end-user. By technology, the market is divided into CT scanners, MRI scanners, ultrasound scanners, and others. Among these, MRI scanners are expected to dominate the market due to their high resolution and detailed imaging capabilities. By product, the market comprises stationary scanners and portable scanners. Portable scanners are gaining traction due to their convenience and ease of use. In terms of application, the market is segmented into oncology, cardiology, neurology, and others. Oncology applications are projected to lead the market due to the increasing prevalence of cancer in pets. Finally, by end-user, the market is categorized into veterinary hospitals, clinics, and research institutes.

Pet Scanners Market Analysis Report by Region

Asia Pacific Pet Scanners Market Report

The Asia Pacific region is poised for significant growth in the Pet Scanners market, driven by the rising pet adoption rates, increasing disposable incomes, and improving healthcare infrastructure for pets. Countries like China, Japan, and India are witnessing a surge in demand for pet scanners, especially in veterinary hospitals and clinics. Market players are focusing on expanding their presence in the region through strategic partnerships and collaborations.

South America Pet Scanners Market Report

South America is also emerging as a key market for Pet Scanners, with countries like Brazil and Argentina leading the growth in the region. The increasing awareness about pet health and the growing trend of pet insurance are driving the demand for advanced diagnostic imaging services in the region. Market players are investing in research and development activities to introduce innovative pet scanners tailored to the needs of the South American market.

North America Pet Scanners Market Report

North America represents one of the largest markets for Pet Scanners globally, with the United States at the forefront of market growth. The region is witnessing a growing trend of humanization of pets, leading to increased spending on pet healthcare services, including diagnostic imaging. Market players in North America are focusing on product innovation and customer-centric strategies to maintain their competitive edge in the market.

Europe Pet Scanners Market Report

Europe is a mature market for Pet Scanners, with countries like the United Kingdom, Germany, and France driving market growth. The region boasts a strong veterinary healthcare infrastructure and a high level of pet ownership, which is fuelling the demand for advanced diagnostic imaging solutions. Market players in Europe are emphasizing strategic acquisitions and partnerships to expand their market presence and cater to the evolving needs of pet owners.

Middle East and Africa Pet Scanners Market Report

The Middle East and Africa region are witnessing rapid growth in the Pet Scanners market, driven by the increasing urbanization, rising pet adoption rates, and improving veterinary healthcare facilities. Countries like the UAE, South Africa, and Saudi Arabia are key markets for pet scanners in the region. Market players are focusing on developing cost-effective and efficient pet scanners to cater to the diverse needs of pet owners in the Middle East and Africa.

Pet Scanners Market Analysis Report by Technology

The Pet Scanners market can be analyzed based on the technology employed in the devices. CT scanners, MRI scanners, ultrasound scanners, and other advanced imaging modalities are key technologies in the market. CT scanners use X-rays to create detailed cross-sectional images of the body, making them ideal for identifying internal injuries and abnormalities. MRI scanners use magnetic fields and radio waves to produce high-resolution images of soft tissues and organs, making them valuable for diagnosing conditions like neurological disorders and cancer. Ultrasound scanners use sound waves to create real-time images, making them useful for examining organs and detecting abnormalities in real time. Other technologies in the market include nuclear imaging and PET scanners, which offer unique insights into pet health and wellness.

Pet Scanners Market Analysis Report by Product

The Pet Scanners market can also be analyzed based on the type of product offered. Stationary scanners and portable scanners are two key product categories in the market. Stationary scanners are larger, fixed devices that are commonly found in veterinary hospitals and clinics. They offer high imaging quality and are suitable for in-depth diagnostic imaging procedures. Portable scanners, on the other hand, are compact and lightweight devices that can be easily transported and used in various settings. They are ideal for on-the-go imaging needs and emergency situations. Market players are continuously innovating to develop advanced and user-friendly pet scanners that cater to the diverse requirements of pet owners and veterinary professionals.

Pet Scanners Market Analysis Report by Application

The Pet Scanners market can be analyzed based on the applications of diagnostic imaging in pets. Oncology, cardiology, neurology, and other medical specialties are key areas where pet scanners are employed. Oncology applications involve the detection and diagnosis of cancer in pets, enabling early intervention and treatment planning. Cardiology applications focus on the heart and circulatory system, helping veterinarians identify heart conditions and structural abnormalities. Neurology applications deal with brain and spinal cord disorders, aiding in the diagnosis of neurological conditions and injuries. Other applications of pet scanners include orthopedics, gastroenterology, and internal medicine, catering to a wide range of diagnostic needs in veterinary medicine.

Pet Scanners Market Analysis Report by End-User

The Pet Scanners market can be further analyzed based on the end-users of diagnostic imaging services. Veterinary hospitals, clinics, research institutes, and other healthcare facilities are key end-users of pet scanners. Veterinary hospitals are primary users of pet scanners, offering comprehensive diagnostic imaging services to pet owners. Veterinary clinics, on the other hand, provide specialized imaging services for pets in outpatient settings. Research institutes use pet scanners for preclinical research and experimental studies, contributing to advancements in veterinary medicine and healthcare. Other end-users of pet scanners include animal shelters, zoos, and wildlife rehabilitation centers, where diagnostic imaging plays a crucial role in the care and treatment of animals.

Key Growth Drivers and Key Market Players of Pet Scanners Market

The Pet Scanners market is driven by several key growth drivers, including the increasing awareness about pet health, the rising prevalence of chronic diseases in pets, and the advancements in diagnostic imaging technologies. Key market players operating in the Pet Scanners market include:

• Covetrus
• Fujifilm Holdings Corporation
• GE Healthcare
• Hitachi, Ltd.
• IDEXX Laboratories, Inc.
• Siemens Healthineers
• Toshiba Corporation
• Vinno Technologies

These companies are at the forefront of innovation in the pet scanners market, developing cutting-edge imaging solutions for veterinary professionals and pet owners. Through strategic partnerships, research collaborations, and product launches, these market players are driving growth and shaping the future of diagnostic imaging in veterinary medicine.

Pet Scanners Market Trends and Future Forecast

The Pet Scanners market is witnessing several trends that are expected to shape its future outlook. Increasing investments in research and development, the integration of artificial intelligence and machine learning in imaging technologies, and the adoption of novel imaging modalities like 3D imaging and molecular imaging are key trends driving market growth. The future of the pet scanners market looks promising, with a growing focus on personalized medicine, precision imaging, and telemedicine solutions for pets. Market players are poised to capitalize on these trends to develop innovative solutions that enhance diagnostic accuracy, improve patient outcomes, and drive advancements in veterinary healthcare.

Recent Happenings in the Pet Scanners Market

The Pet Scanners market has witnessed several recent developments that are shaping the industry landscape:

• Covetrus launched a new portable pet scanner with enhanced imaging capabilities for remote diagnostic imaging services
• Fujifilm Holdings Corporation acquired a leading veterinary imaging technology company to expand its product portfolio in the pet scanners market
• GE Healthcare introduced a next-generation MRI scanner specifically designed for veterinary use, offering advanced imaging features for precise diagnosis
• Hitachi, Ltd. collaborated with a prominent veterinary research institute to develop innovative imaging solutions for preclinical studies and experimental research

These recent happenings underscore the dynamic nature of the Pet Scanners market, with companies investing in new technologies, strategic partnerships, and product innovations to meet the evolving needs of veterinary professionals and pet owners.