Veterinary Imaging Market Trends

Growth Drivers

• Advancement in Veterinary Science - From last few decades, Numerous improvements have been made in the veterinary field, particularly in the field of clinical diagnosis. Now clinical diagnosis of animals is hassle free, thanks to the integration of big data, and IoMT. Now veterinary imaging is more precise, accurate and helps a lot to give a proper treatment in emergency cases. As per a research, with the availability of 3D images in ultrasound and MRI scans, veterinarians are now able to collect more detailed results and thus deliver a more accurate diagnosis. Furthermore, the technology and image format make it simpler to swap information with clients, specialists, or reference centers. Furthermore, the technological innovation in animal implants is a boon for collecting required data and for monitoring diabetic animals.
• Global Increase in Pet Insurance –As per a report, the total number of pets insured in the United States at the end of 2021 was 3.8 million, a 29% increase from the year 2020.
• Escalation in the Livestock Population -The global cattle population is predicted to reach approximately 1 billion head in 2022, slightly higher compared from 998 million in 2021.
• Rise in Zoonotic Diseases –According to the World Economic Forum, 60% of known infectious diseases are predicted to be caused by zoonotic diseases, and up to 75% of newly identified or emerging infectious diseases.
• Worldwide Rise in Meat Consumption – As per the World Economic Forum, it is estimated that 50 billion chickens are killed annually for food. In contrast, over 1.5 billion pigs are butchered annually to meet the rising demand for sausages, bacon, ham, and pork in the world, which has tripled over the previous 50 years.

 Challenges

• High Cost of Veterinary Imaging Systems – Although the latest technology has fostered manufacturing of high-quality veterinary imaging systems, however the expensive costs of the product is expected to lower its adoption rate.
• Lack of Animal Healthcare Awareness in Developing Nations
• Lack of Proficient Veterinarians