Veterinary CT Scanners Market: Asia Pacific Surges Ahead as Pet Companionship Trend Boosts Projections to US$ 355.3 Million by 2033

According to FMI’s analysis, the Veterinary Computed Tomography Scanner Market will grow at a 6.8% CAGR over the forecast time period. The industry is expected to grow to a market value of US$ 184.2 million by 2023.

The veterinary computed tomography scanner industry is expected to grow significantly during the forecast period. Different parts of the world are seeing an increase in pet adoption, which is propelling the growth of animal healthcare. As a result, the field of veterinary diagnostics has grown.

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Multiple factors like technological enhancements, increasing awareness, and new product launches positively affect the sales of veterinary CT scanners. The release of a spiral CT scanner called MyVet CT i3D by Woorien in May 2020 is a good case in point. The new release offers richer soft tissue image contrast than the 3D reconstruction of soft tissue structures.

New product launches and technological upgrades are expected to fuel the market growth in the future. Pet owners or caretakers acknowledge the significance of pet healthcare. In line with this, other forces compelling the demand for veterinary CT scanners include escalating animal health care costs and climbing demand for pet insurance.

Europe and North America have been the early adopters of veterinary computed tomography scanners. Naturally, these regions hold high maturity levels in the veterinary CT scanner industry. However, in the upcoming years, key players are expected to expand their base in emerging countries of the Asia Pacific.

FMI has assessed China and India to register vigorous growth in the forecast period. Growing interest in pet adoption and increasing awareness about veterinary diseases are strong factors for regional development. Moreover, untapped emerging markets are expected to lure in top companies with promising growth opportunities.

Top Highlights from the FMI’s Analysis of the Veterinary Computed Tomography Scanner Market:  

• The North American veterinary computed tomography scanner industry acquired a 34.7% stake in the market in 2022.
• The Europe veterinary computed tomography scanner industry obtained a share of 30.1% globally in 2022.
• The United States veterinary computed tomography scanner industry is expected to attain a market share exceeding 30.5% in 2023.
• Germany acquired a 7.7% market share in 2022 on a global scale.
• The Japanese veterinary computed tomography scanner industry procured a market share of 4.7% in 2022.
• The veterinary computed tomography scanner industry in the United Kingdom is projected to explode at a CAGR of 6.1% over the forecast period.
• China’s veterinary computed tomography scanner industry is projected to gallop at a CAGR of 8.1%.
• The Indian market is expected to expand at a CAGR of 7.7% over the assessment period.
• Based on application, the orthopedic and traumatology segment grabbed a market share of 38.40% in 2022.
• Under the end user category, veterinary hospitals and clinics are expected to attain a market share of more than 47.80% over the forecast period.

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Key Players Under Telescope :

Key vendors in the market are dispersed across the globe. They are few in number, making the market consolidated. Competitors can be seen continuously innovating and upgrading their technologies to introduce time-efficient and cost-efficient technologies in the market for existing and potential clients. These advancements are projected to induce market growth and initiate intense competition among the partaking companies.

Key players are projected to invest their funds in research and development to thrive in the present competitive landscape. Another salient strategy key players adopt is ramping up their production capacities and increasing their production facilities and sites regionally and globally.