Vet MRI System Market Report 2024 (Global Edition)

Global Vet MRI System Market Report 2024 Market Size Split by Animal Type (Small Animals, Large Animals), by Application (Oncology, Orthopedics, Neurology, Cardiology, Others), by End-user (Veterinary...

Vet MRI System Market Report Description

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Vet MRI System Market Insights Video

Competitive Landscape of the Vet MRI System Market

The market is competitive, with a mix of large, medium, and small enterprises. These companies are continually working to increase their market presence and share through strategic initiatives. Collaborations, mergers and acquisitions, research and development, distribution network expansion, product launches and upgrades, and service expansion are a few examples.

In April 2022, Three new clinics were built for specific purposes. Veterinary Urgent Care Clinics are now open in Rancho Peñasquitos, Oceanside, and Irvine, California. (Source: https://www.urgentpetdoc.com/rancho-penasquitos ) In August 2021, National Veterinary Associates and Ethos Veterinary Health agreed to join the NVA community and collaborate on developing veterinary medicine for patients and families. (Source: https://www.ethosvet.com/news-article/nva-and-ethos-unite-to-advance-veterinary-care-for-pets-and-their-families/ )

Top Companies Market Share in Vet MRI System Industry: (In no particular order of Rank)

• Esaote SPA
• General Electric Company
• Siemens
• Hallmarq Veterinary Imaging
• Shenzhen Anke High-tech Co.
• Ltd.
• Time Medical Systems
• IDEXX Laboratories
• Inc.
• Shenzhen Basda Medical Apparatus Co.
• Ltd
• Willows Veterinary Centre and Referral Service
• North West MRI
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the Vet MRI System Market

Which Region Dominates the Vet MRI System Market in 2024?

According to Cognitive Market Research, North America currently dominates the Vet MRI Systems market, and the region is expected to have significant growth during the projected period. The number of pet owners in North America has gradually increased over the last several decades. This has resulted in a rise in demand for veterinary care, particularly diagnostic imaging services.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific is expected to make significant gains during the projected period, with the greatest compound annual growth rate (CAGR). As the economies of many Asian countries expand, more people may afford expensive veterinary services such as MRI scans.

The current report Scope analyzes Vet MRI System Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Vet MRI System

According to Cognitive Market Research, the global Vet MRI System market size was estimated at USD 108.6 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 43.44 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the Vet MRI System market with a market size of USD 34.27 million in 2024 and is projected to grow at a CAGR of 5.0% during the forecast period. The number of pet owners in the United States has been steadily rising over the years.
• The Canada Vet MRI System market had a market share of USD 5.21 million in 2024 and is projected to grow at a CAGR of 6.0% during the forecast period. The Canadian government has been investing in veterinary infrastructure
• The Mexico Vet MRI System market is projected to witness growth at a CAGR of 5.7% during the forecast period, with a market size of USD 3.95 million in 2024.

Europe Vet MRI System

According to Cognitive Market Research, the global Vet MRI System market size was estimated at USD 108.6 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 32.58 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.5% from 2024 to 2031.

• The United Kingdom Vet MRI System market had a market share of USD 5.47 million in 2024 and is projected to grow at a CAGR of 6.3% during the forecast period. The number of pet owners in the UK has been on the rise.
• The France Vet MRI System market is projected to witness growth at a CAGR of 4.7% during the forecast period, with a market size of USD 3.00 million in 2024.
• According to Cognitive Market Research, the German Vet MRI System market size was valued at USD 6.45 million in 2024 and is projected to grow at a CAGR of 5.7% during the forecast period. Germany has a large pet-owning population, and pet owners are increasingly willing to invest in advanced healthcare for their animals.
• The Italy Vet MRI System market is projected to witness growth at a CAGR of 4.9% during the forecast period, with a market size of USD 2.80 million in 2024.
• The Russia Vet MRI System market is projected to witness growth at a CAGR of 4.5% during the forecast period, with a market size of USD 5.05 million in 2024.
• The Spain Vet MRI System market is projected to witness growth at a CAGR of 4.6% during the forecast period with a market size of USD 2.67 million in 2024
• The Luxembourg Vet MRI System market is projected to witness growth at a CAGR of 5.6% during the forecast period, with a market size of USD 1.01 million in 2024.
• The Portugal Vet MRI System market is projected to witness growth at a CAGR of 5.3% during the forecast period, with a market size of USD 0.68 million in 2024.
• The Greece Vet MRI System market is projected to witness growth at a CAGR of 5.8% during the forecast period, with a market size of USD 0.39 million in 2024.
• The Rest of Europe's Vet MRI System market is projected to witness growth at a CAGR of 4.2% during the forecast period, with a market size of USD 5.05 million in 2024.

Asia Pacific Vet MRI System

According to Cognitive Market Research, the global Vet MRI System market size was estimated at USD 108.6 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 24.98 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.0% from 2024 to 2031.

• According to Cognitive Market Research, the China Vet MRI System market size was valued at USD 11.24 million in 2024 and is projected to grow at a CAGR of 8.5% during the forecast period. As the Chinese economy continues to grow, more people have the disposable income to invest in health and well-being.
• The Japan Vet MRI System market is projected to witness growth at a CAGR of 7.5% during the forecast period, with a market size of USD 3.45 million in 2024.
• The India Vet MRI System market had a market share of USD 3.00 million in 2024 and is projected to grow at a CAGR of 10.8% during the forecast period. The Indian government is investing in improving veterinary infrastructure.
• The South Korean Vet MRI System market is projected to witness growth at a CAGR of 8.1% during the forecast period, with a market size of USD 2.50 million in 2024.
• The Australian Vet MRI System market is projected to witness growth at a CAGR of 8.7% during the forecast period, with a market size of USD 1.30 million in 2024.
• The South East Asia Vet MRI System market is projected to witness growth at a CAGR of 10.0% during the forecast period, with a market size of USD 7.45 million in 2024.
• The Rest of Asia Pacific Vet MRI System market is projected to witness growth at a CAGR of 8.8% during the forecast period, with a market size of USD 1.77 million in 2024.

South America Vet MRI System

According to Cognitive Market Research, the global Vet MRI System market size was estimated at USD 108.6 Million, out of which Latin America held the market share of around 5% of the global revenue with a market size of USD 5.43 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.4% from 2024 to 2031.

• According to Cognitive Market Research, the Brazil Vet MRI System market size was valued at USD 2.32 million in 2024 and is projected to grow at a CAGR of 7.0% during the forecast period. Brazil has a large and growing pet population.
• Argentina's Vet MRI System market had a market share of USD 0.91 million in 2024 and is projected to grow at a CAGR of 7.3% during the forecast period. The Argentine government has been supportive of the development of the veterinary healthcare sector.
• Colombia Vet MRI System market is projected to witness growth at a CAGR of 6.2% during the forecast period, with a market size of USD 0.48 million in 2024.
• Peru Vet MRI System market is projected to witness growth at a CAGR of 6.6% during the forecast period, with a market size of USD 0.45 million in 2024.
• Chile Vet MRI System market is projected to witness growth at a CAGR of 6.7% during the forecast period, with a market size of USD 0.39 million in 2024.
• The Rest of Latin America's Vet MRI System market is projected to witness growth at a CAGR of 5.5% during the forecast period, with a market size of USD 0.87 million in 2024.

Middle East and Africa Vet MRI System

According to Cognitive Market Research, the global Vet MRI System market size was estimated at USD 108.6 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 2.17 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.7% from 2024 to 2031..

• The GCC Countries Vet MRI System market is projected to witness growth at a CAGR of 7.5% during the forecast period, with a market size of USD 0.93 million in 2024. The GCC countries have witnessed a surge in pet ownership.
• The Egypt Vet MRI System market is projected to witness growth at a CAGR of 7.0% during the forecast period, with a market size of USD 0.23 million in 2024.
• The South Africa Vet MRI System market is projected to witness growth at a CAGR of 7.7% during the forecast period, with a market size of USD 0.34 million in 2024. As the South African economy grows, more people have disposable income.
• The Turkey Vet MRI System market is projected to witness growth at a CAGR of 6.2% during the forecast period, with a market size of USD 0.19 million in 2024.
• The Nigeria Vet MRI System market is projected to witness growth at a CAGR of 5.8% during the forecast period, with a market size of USD 0.23 million in 2024.
• The Rest of the MEA Vet MRI System market is projected to witness growth at a CAGR of 5.7% during the forecast period, with a market size of USD 0.26 million in 2024.

Vet MRI System Market Analysis

Vet MRI System Market Animal Type Segment Analysis

According to Cognitive Market Research, small animals are likely to dominate the Vet MRI System Market over the forecast period. This is due to rising pet costs and the introduction of pet insurance. Dogs dominated the small animal industry due to their widespread popularity as pets and the increasing occurrence of diseases in pets.

The large animals is the fastest-growing segment in the Vet MRI System Market. The veterinary MRI system market for large animals is expanding. However, there are still obstacles to overcome, such as the high cost of equipment, the necessity for specialist training, and the possibility of limits on particular animal species. With continuing technological developments and increased demand, the future of veterinary MRI systems in large animal care appears bright.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Vet MRI System Industry. Request a Free Sample PDF!

Vet MRI System Market Application Segment Analysis

According to Cognitive Market Research, the orthopedics segment holds the largest share of the market. MRI is extremely useful in identifying orthopedic disorders in animals because it provides a great level of resolution and sensitivity. MRI can reliably diagnose the degree and severity of bone fractures, even those that are difficult to detect using other imaging techniques. MRI is extremely useful for identifying joint problems such as arthritis, ligament tears, and meniscus injuries.

In the Vet MRI System Market, the Neurology sector has been expanding at a rapid pace. The veterinary MRI system market in neurology is predicted to expand further as technology improvements, increasing awareness, and an older pet population drive demand for sophisticated diagnostic tools.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Vet MRI System End-user Segment Analysis

Vet MRI System Market End-user Segment Analysis

According to Cognitive Market Research, the Veterinary Hospitals segment dominates the market. Some of the causes contributing to the segment's significant share are hospital facilities' increased budget capacity, the large number of patients received, and the growth of service offerings to enhance income.

Veterinary clinics are projected to be the fastest-growing segment in the Vet MRI System market. The increasing number of veterinary clinics, company initiatives to make their products more affordable, and rising demand for veterinary diagnostics in pets are just a few of the primary reasons driving industry expansion.

• Veterinary Clinics
• Veterinary Hospitals
• Veterinary Institutes & Research Centers

Author's Detail

Anushka Gore

Research Associate at Cognitive Market Research

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Anushka Gore is a seasoned market researcher specializing in the dynamic landscape of the Pharmaceutical industry. With a keen analytical mind and a deep passion for healthcare advancements, she has dedicated herself unraveling the intricate market trends and consumer behaviors that shape the future of medical technologies and services.

Author's Conclusion