Veterinary CT Scanners Market Size

Veterinary CT Scanners Market Analysis

The veterinary CT scanners market is expected to register a CAGR of 6.1% over the forecast period.

• The COVID-19 pandemic had a significant impact on the market due to the healthcare system's diverted focus on managing COVID-19 patients. However, the market started to gain traction as pet adoption increased during the pandemic, which propelled the demand for veterinary care services.
• For instance, according to the People's Dispensary for Sick Animals (PDSA), 2 million people in the United Kingdom acquired a pet between March 2020 and May 2021. Of these pets, 10% were dogs, 8% were cats, and 13% were rabbits. Such a high rate of pet adoption in different regions worldwide increased the focus on animal healthcare. This increased the incidence of veterinary diagnostics, thus increasing the demand for veterinary computerized tomography (CT) scanners and boosting the market growth.
• The market is expected to rise due to increasing awareness, technological advancements, and product launches in the veterinary CT scanners market for treating animal diseases.
• New product launches are contributing significantly to market growth. For instance, in May 2021, Xoran Technologies announced that reservations were being accepted for its new open-bore CT scanner - vTRON, which was launched at the Veterinary Meeting and Expo (VMX) conducted in June 2021 in Orlando, United States. This introduction to Xoran's suite of CT systems offered a revolutionary imaging solution specifically designed for veterinary hospitals and general practice clinics.
• In addition, increased pet ownership has increased animal health expenditure, and the rising prevalence of animal diseases and injuries is actively affecting the growth of the market studied. According to the Universities Federation for Animal Welfare (UFAW) data published in November 2021, lameness is caused by injury or disease in the foot or leg, causing problems for dairy cattle.
• Also, in the United Kingdom, the estimated prevalence of dairy cow lameness was around 22.1% during the year 2021. Furthermore, according to the Multidisciplinary Digital Publishing Institute (MDPI) data published in March 2021, the prevalence rates of lameness in dairy herds ranged from 17% to 35% globally. The high prevalence of such diseases expedites the utility of CT scanners for diagnostic purposes, which is further expected to propel the growth of the market during the forecast period.
• Therefore, owing to the abovementioned factors, it is anticipated that the market studied will witness growth over the forecast period. However, the high cost of CT imaging devices and low awareness of animal health in emerging markets are likely to impede the market's growth.