Veterinary Medical Examination Equipment Market, Global Outlook and Forecast 2025-2032

MARKET INSIGHTS

Global veterinary medical examination equipment market size was valued at USD 1.23 billion in 2024 and is projected to reach USD 2.34 billion by 2032, exhibiting a CAGR of 9.67% during the forecast period (2025-2032). Another estimate places the market at USD 5.22 billion in 2024, growing to USD 10.13 billion by 2032 at a higher CAGR of 10.2%, reflecting strong regional variations and segment growth potential.

Veterinary medical examination equipment encompasses diagnostic imaging systems and tools essential for animal healthcare, including radiography (X-ray) systems, ultrasound imaging, computed tomography (CT), magnetic resonance imaging (MRI), and video endoscopy systems. These advanced technologies enable veterinarians to perform non-invasive diagnostics with precision, particularly crucial given the growing population of aging pets - with 13.09 million pets entering middle age in China alone as of 2023 according to JD's Pet Health White Paper.

The market expansion is driven by rising pet healthcare expenditure (54% growth in UK veterinary spending 2015-2021 reaching USD 4 billion) and increasing adoption of companion animals globally. Notably, veterinary hospitals operating for 5+ years now represent 73% of China's pet medical facilities, with 40% reporting annual revenue growth, indicating sustained demand for advanced diagnostic solutions. Key players like GE Healthcare, IDEXX Laboratories, and Siemens AG continue innovating portable and AI-integrated systems to serve this expanding market.

MARKET DYNAMICS

MARKET DRIVERS

Rising Pet Ownership and Humanization Trend to Fuel Market Expansion

The global pet humanization trend continues to gain momentum, driving increased expenditure on veterinary care. With over 70% of pet owners now considering their animals as family members, demand for advanced medical diagnostics has surged. Developed markets are leading this trend - North America and Europe collectively account for nearly 60% of veterinary diagnostics spending. Emerging economies are showing even faster growth, with China's pet healthcare market expanding at nearly 15% annually. This shift in consumer attitudes directly translates to higher adoption of diagnostic equipment as owners seek human-grade healthcare for their pets.

Aging Pet Population Necessitates Advanced Diagnostic Solutions

The demographic shift in pet populations toward older animals is creating sustained demand for veterinary diagnostic equipment. Currently, approximately 35% of dogs and 40% of cats in developed markets are classified as senior pets (over 7 years old). Aged animals typically require 2-3 times more diagnostic procedures than younger pets, including frequent imaging for conditions like arthritis and cancer. This trend is particularly pronounced in Asia, where the percentage of senior pets has doubled in the past decade. The resulting demand for equipment like digital radiography and ultrasound systems is expected to maintain market growth throughout the forecast period.

➤ Notably, veterinary hospitals treating senior pets report 50% higher utilization rates for advanced imaging equipment compared to general practices.

Furthermore, technological convergence from human healthcare is accelerating innovation in veterinary diagnostics. About 30% of veterinary imaging technologies now incorporate adaptations from human medical devices, reducing development costs while improving diagnostic accuracy.

MARKET RESTRAINTS

High Equipment Costs and Budget Constraints Limit Market Penetration

While demand grows, the expensive nature of veterinary diagnostic equipment remains a significant barrier to market expansion. A single digital radiography system can cost between $50,000-$150,000, while advanced modalities like MRI systems exceed $1 million. These prices place equipment out of reach for approximately 65% of independent veterinary practices globally. Even with financing options, the average payback period of 3-5 years deters many small clinics from investing in premium equipment.

Other Critical Restraints

Regulatory Compliance Challenges
Stringent equipment certification requirements vary significantly by region, adding 20-30% to development costs. Navigating this regulatory complexity particularly burdens smaller manufacturers, slowing innovation cycles.

Insurance Coverage Gaps
Only about 40% of pet owners in developed markets carry insurance covering diagnostic procedures. This financial limitation directly impacts utilization rates for advanced equipment, especially in price-sensitive markets.

MARKET CHALLENGES

Skill Gap in Advanced Diagnostic Interpretation

The rapid technological advancement in veterinary diagnostics has outpaced professional training programs. Current veterinary curricula devote less than 15% of instructional time to advanced imaging interpretation, creating a significant competency gap. Industry surveys indicate that nearly 60% of practicing veterinarians lack confidence in interpreting results from cutting-edge modalities like CT or MRI without specialist consultation.

This challenge is compounded by the shortage of board-certified veterinary radiologists, with a global deficit estimated at 4,000 specialists. The resulting diagnostic bottlenecks constrain equipment utilization rates and slow return on investment for veterinary practices adopting advanced technologies.

MARKET OPPORTUNITIES

Cloud-Based Diagnostic Solutions Open New Revenue Streams

The integration of cloud technology with veterinary diagnostics presents a $800 million revenue opportunity by 2030. Cloud-based image storage and telemedicine platforms enable remote interpretation by specialists, addressing the skills gap while improving diagnostic accuracy. Early adopters report 40% increases in equipment utilization after implementing cloud connectivity solutions.

Particularly promising are AI-assisted diagnostic platforms, which can reduce interpretation time by 70% while maintaining 95%+ accuracy for common conditions. The veterinary AI diagnostics segment is projected to grow at 28% CAGR as algorithms trained on millions of cases become commercially available.

Mobile diagnostic units also show strong growth potential, especially in underserved rural markets. These units can deliver 80% of hospital-grade diagnostic capabilities at 60% lower capital expenditure, making advanced care accessible to smaller practices.

Segment Analysis:

By Type

Radiography (X-Ray) Systems Lead Due to Widespread Use in Routine Veterinary Diagnostics

The market is segmented based on type into:

• Radiography (X-Ray) Systems

• Ultrasound Imaging Systems

• Computed Tomography Imaging Systems

• Video Endoscopy Imaging Systems

• Magnetic Resonance Imaging Systems

• Others

By Application

Clinics Segment Dominates Owing to Increasing Pet Healthcare Services

The market is segmented based on application into:

• Clinics

• Hospitals and Academic Institutes

By Animal Type

Companion Animals Segment Holds Major Share Due to Rising Pet Ownership

The market is segmented based on animal type into:

• Companion Animals

• Livestock Animals

By Technology

Digital Imaging Segment Shows Strong Growth Potential

The market is segmented based on technology into:

• Analog Systems

• Digital Imaging Systems

COMPETITIVE LANDSCAPE

Key Industry Players

Technological Innovation Drives Market Leadership in Veterinary Diagnostics

The global veterinary medical examination equipment market features a dynamic competitive environment with established medical technology giants competing alongside specialized veterinary diagnostic providers. GE Healthcare dominates the high-end imaging segment, leveraging its human healthcare expertise to develop advanced veterinary MRI and CT systems. The company's 2023 acquisition of IMV Imaging strengthened its position in veterinary radiography, capturing an estimated 18% market share in premium imaging equipment.

IDEXX Laboratories maintains strong leadership in point-of-care diagnostics, with its Catalyst One chemistry analyzer becoming the industry standard in veterinary clinics. Meanwhile, Siemens Healthineers has made strategic inroads into the veterinary ultrasound market, introducing the ACUSON Juniper system specifically designed for animal imaging in 2024.

Competition intensifies as companies expand into emerging markets. Fujifilm Holdings reported 23% year-over-year growth in Asia-Pacific veterinary sales in 2023, attributed to its FDR Visionary veterinary DR systems tailored for small animal practices. While multinational corporations lead in technology, regional players like BCF Technology thrive by offering cost-effective ultrasound solutions, particularly in price-sensitive European markets.

The market sees increasing vertical integration as distributors enter manufacturing. VCA (now part of Mars Petcare) has vertically integrated diagnostic services with equipment procurement, creating a closed-loop ecosystem. Similarly, Esaote has expanded from human to veterinary ultrasound manufacturing, capitalizing on the 62% growth in companion animal diagnostics since 2020.

List of Key Veterinary Medical Equipment Companies

• GE Healthcare (U.S.)

• IDEXX Laboratories (U.S.)

• Siemens Healthineers (Germany)

• Fujifilm Holdings Corporation (Japan)

• Esaote S.p.A (Italy)

• Agfa-Gevaert NV (Belgium)

• Hitachi Medical Systems (Japan)

• BCF Technology (UK)

• Canon Medical Systems (Japan)

Technology partnerships are reshaping competition, with traditional players collaborating with AI startups. Onex Corporation recently invested in veterinary AI diagnostic firm SignalPET, while Excelsior Union partnered with veterinary telemedicine platforms to integrate imaging solutions. As the market approaches $2.34 billion by 2032, companies are aggressively pursuing hybrid strategies combining equipment sales with data analytics services to maintain competitive advantage.

VETERINARY MEDICAL EXAMINATION EQUIPMENT MARKET TRENDS

Technological Advancements in Diagnostic Imaging to Drive Market Growth

The veterinary medical examination equipment market is undergoing a significant transformation due to advancements in diagnostic imaging technologies. Portable digital radiography systems are gaining traction, offering veterinarians high-resolution imaging with reduced radiation exposure and faster processing times. Furthermore, the integration of artificial intelligence in ultrasound systems has enhanced diagnostic accuracy for conditions like cardiac abnormalities and soft tissue injuries. The market for advanced imaging equipment is projected to grow at a compound annual growth rate (CAGR) of 10.2% through 2032, fueled by increasing demand for early and accurate disease detection in companion animals and livestock. Emerging technologies such as 3D tomographic reconstruction in CT scanners are further revolutionizing veterinary diagnostics.

Other Trends

Rising Pet Healthcare Expenditure

Global pet healthcare expenditure has shown robust growth, with veterinary services spending in the UK increasing by 54% from 2015 to 2021. This trend is mirrored worldwide as pet owners increasingly view their companions as family members, driving demand for advanced medical care. Veterinary clinics are responding by investing in modern examination tables, otoscopes, and specialized diagnostic equipment, particularly for aging pet populations. In China alone, over 13 million pets entered middle or senior age in 2023, creating sustained demand for geriatric care solutions.

Expansion of Veterinary Healthcare Infrastructure

The global veterinary healthcare infrastructure is expanding rapidly, with 73% of China's pet hospitals operating for less than five years as of 2022. This greenfield development is creating opportunities for equipment manufacturers to supply fully equipped facilities from inception. Meanwhile, established hospitals are upgrading their capabilities, with nearly 40% reporting annual revenue growth. Academic institutions are also contributing to demand, incorporating sophisticated teaching equipment like virtual dissection tables and digital microscopy systems into veterinary curricula.

Regional Analysis: Veterinary Medical Examination Equipment Market

North America
North America dominates the veterinary medical examination equipment market, accounting for the largest revenue share due to advanced healthcare infrastructure and high pet ownership rates. The U.S. leads in adoption, driven by increasing pet expenditures—annual veterinary spending rose by 54% between 2015 and 2021, reaching $4 billion in the UK alone. Veterinary clinics increasingly invest in advanced imaging systems like MRI and CT scanners for precise diagnostics, particularly for aging pets. Regulatory standards, such as those set by the FDA for veterinary devices, further ensure quality and innovation. However, high equipment costs remain a barrier for smaller clinics, creating opportunities for mid-range solutions.

Europe
Europe follows closely, with Germany, France, and the UK spearheading growth. The region benefits from stringent EU regulations on animal welfare and standardized veterinary care protocols. Rising pet insurance penetration—especially in Nordic countries—has lowered financial barriers for pet owners, boosting demand for diagnostics. For instance, Idexx Laboratories and Siemens AG have expanded their footprint here, focusing on digital radiography and portable ultrasound systems. Meanwhile, Eastern Europe shows untapped potential, though slower economic growth limits investments in high-end equipment for now. Sustainability trends also drive demand for energy-efficient devices.

Asia-Pacific
Asia-Pacific is the fastest-growing region, propelled by China’s booming pet industry—its veterinary market surpassed $67.5 billion in 2022. Urbanization and rising disposable incomes are key drivers, with Japan and South Korea leaning toward premium equipment like endoscopy systems. India lags in advanced adoption due to cost sensitivity but shows promise with increasing pet clinics in metro areas. Notably, 13.09 million aging pets in China are elevating demand for geriatric care diagnostics. Local players like Canon and Fujifilm compete aggressively, though reliance on imports for high-tech devices persists.

South America
South America’s market is nascent but expanding, led by Brazil and Argentina. Growing pet humanization trends mirror North America’s trajectory, yet economic instability restricts widespread adoption of advanced equipment. Mid-tier ultrasound and X-ray systems dominate, as clinics prioritize affordability. Government initiatives to improve veterinary standards are emerging, but inconsistent enforcement delays progress. Nonetheless, multinationals like GE Healthcare are entering through partnerships with local distributors, targeting urban veterinary hubs.

Middle East & Africa
The MEA region is in early stages, with UAE and Saudi Arabia at the forefront due to expat-driven pet culture and luxury veterinary services. Demand is concentrated in urban centers, where pet hospitals increasingly adopt digital radiography. However, limited awareness and infrastructure in rural areas constrain growth. Africa’s market remains underserved, though rising companion animal ownership in countries like South Africa signals long-term potential. Manufacturers focus on durable, low-maintenance devices suited to the region’s variable healthcare access.

Report Scope

This market research report offers a holistic overview of global and regional markets for the forecast period 2025–2032. It presents accurate and actionable insights based on a blend of primary and secondary research.

Key Coverage Areas:

• ✅ Market Overview

  • Global and regional market size (historical & forecast)

  • Growth trends and value/volume projections

• ✅ Segmentation Analysis

  • By product type or category

  • By application or usage area

  • By end-user industry

  • By distribution channel (if applicable)

• ✅ Regional Insights

  • North America, Europe, Asia-Pacific, Latin America, Middle East & Africa

  • Country-level data for key markets

• ✅ Competitive Landscape

  • Company profiles and market share analysis

  • Key strategies: M&A, partnerships, expansions

  • Product portfolio and pricing strategies

• ✅ Technology & Innovation

  • Emerging technologies and R&D trends

  • Automation, digitalization, sustainability initiatives

  • Impact of AI, IoT, or other disruptors (where applicable)

• ✅ Market Dynamics

  • Key drivers supporting market growth

  • Restraints and potential risk factors

  • Supply chain trends and challenges

• ✅ Opportunities & Recommendations

  • High-growth segments

  • Investment hotspots

  • Strategic suggestions for stakeholders

• ✅ Stakeholder Insights

  • Target audience includes manufacturers, suppliers, distributors, investors, regulators, and policymakers

FREQUENTLY ASKED QUESTIONS:

What is the current market size of Global Veterinary Medical Examination Equipment Market?

-> The global veterinary medical examination equipment market was valued at USD 1.23 billion in 2024 and is projected to reach USD 2.34 billion by 2032, growing at a CAGR of 9.67% during 2025-2032.

Which key companies operate in Global Veterinary Medical Examination Equipment Market?

-> Key players include GE Healthcare, Agfa-Gevaert NV, Excelsior Union Limited, Onex Corporation, Esaote, Canon, Idexx Laboratories, VCA, Hitachi, Siemens AG, Fujifilm Holdings Corporation, and BCF Technology.

What are the key growth drivers?

-> Key growth drivers include rising pet ownership, increasing pet healthcare expenditure, technological advancements in veterinary diagnostics, and growing awareness about animal health. The UK's veterinary services spending grew 54% from 2015-2021, reaching USD 4 billion.

Which region dominates the market?

-> North America currently leads the market, while Asia-Pacific is expected to witness the fastest growth, driven by China's expanding pet medical market which accounted for 22.5% of its pet industry in 2022.

What are the emerging trends?

-> Emerging trends include digital radiography systems, portable ultrasound devices, AI-powered diagnostic tools, and the growing demand for pet geriatric care solutions as 13.09 million pets entered middle/old age in China in 2023.