NORTH AMERICA VETERINARY IMAGING MARKET FORECAST 2023-2032

The North America veterinary imaging market growth assessment includes the study of the United States and Canada. The United States has observed a significant increase in pet adoption and growth in terms of per capita animal healthcare. The prevalence of various animal diseases and injuries has also been identified as a key factor in boosting the market’s growth in the country. The livestock population in the United States has continued to accelerate at a stable rate since 2014, coupled with a rise in pet ownership as well. Moreover, with the increased ownership of pets and livestock, the nation’s citizens have also become increasingly concerned about their animals’ health. In this regard, according to AVMA Pet Ownership and Demographics, dog owners are more likely to obtain veterinary care for their pets compared to owners of other pet types. 

On the other hand, as per the North American Pet Health Insurance Association (NAPHIA), the pet health insurance sector in the region recorded significant growth over recent years, with combined gross written premiums reaching over $1.2 billion. Furthermore, the total number of pets insured in the United States as well as Canada is also on the rise. While the increase in pet insurance indicates the growing inclination towards improved pet health and welfare, this factor has also influenced the demand for veterinary imaging for efficient and early disease diagnosis. Hence, the aforementioned drivers are set to play an essential role in fueling the market growth in North America during the forecast period.

The North America veterinary imaging market is segmented into animal type, product type, application, and end-user. The animal type segment includes small companion animals, large animals, and other animal types. Small companion animals play a pivotal role in enhancing individuals’ quality of life by virtue of driving a positive impact on human health, thus contributing to their physical well-being. Moreover, the majority of families consider pets as their family members, owing to which a notable rise has been witnessed in pet ownership globally. 

Conversely, the increase in health awareness of slaughterhouse animals as well as poultry animals, primarily drives the growth of the other animal types segment. Additionally, the surging expenditure on animal health, coupled with the rise in veterinary clinics & veterinary practitioners, is expected to further aid the segment’s growth during the forecast period.

Leading companies operating in the North America veterinary imaging market are Fujifilm Sonosite Inc, GE Healthcare, IMV Imaging, etc.

GE Healthcare, headquartered in the United States, is a subsidiary of General Electric. The company offers information technologies, patient monitoring systems, drug discovery, performance solutions services, medical imaging and medical diagnostics, and biopharmaceutical manufacturing technologies. Moreover, the company’s global presence spans more than 120 countries.