Veterinary MRI Market Size & Share, By Solutions (MRI Scanner, Software & Services, Accessories/ Consumables), Type (Small, Large), End-use (Veterinary Hospitals, Veterinary Clinics) - Growth Trends, Regional Insights (U.S., Japan, South Korea, UK, Germany), Competitive Positioning, Global Forecast Report 2025-2034

Market Outlook:

Veterinary MRI Market size is predicted to reach USD 469.37 million by 2034, up from USD 234.19 million in 2024, reflecting a CAGR of over 7.2% during the forecast period from 2025 to 2034. The industry revenue for 2025 is projected to be USD 249.74 million.

• Base Year Value (2024): USD 234.19 million
• CAGR (2025-2034): 7.2%
• Forecast Year Value (2034): USD 469.37 million
• Historical Data Period: 2021-2034
• Largest Region: North America
• Forecast Period: 2025-2034

Market Dynamics:

Growth Drivers & Opportunities

The Veterinary MRI market is experiencing notable growth driven by an increase in pet ownership and a growing awareness among pet owners about the importance of advanced medical care for animals. As pets are increasingly regarded as family members, owners are more willing to invest in sophisticated imaging techniques like MRI to diagnose and treat various health conditions. This shift in perception has spurred demand for veterinary services and, consequently, advanced diagnostic tools.

Additionally, technological advancements in MRI equipment have made the technology more accessible and user-friendly. Innovations such as the development of portable MRI units are expanding the reach of these services to veterinary clinics in remote areas, where access to advanced diagnostic imaging was previously limited. Furthermore, the incorporation of artificial intelligence and machine learning into MRI analysis is enhancing the accuracy and efficiency of diagnoses, fostering greater trust and reliability in veterinary practices.

The veterinary MRI market also benefits from an increase in the incidence of chronic diseases among pets, including cancer and neurological disorders. As these conditions become more prevalent, the demand for effective diagnostic tools, including MRI, rises. Moreover, the growing emphasis on preventive care in veterinary medicine is encouraging pet owners to seek regular check-ups that may include advanced imaging techniques.

Investments in veterinary research and development are opening new avenues for the application of MRI technology in animal health. Collaborations between veterinary hospitals and research institutions aim to explore novel uses for MRI in the diagnosis and treatment of various veterinary ailments, thereby expanding the market potential.

Industry Restraints

Despite the promising growth trajectory, the Veterinary MRI market faces several constraints that may hinder its expansion. One significant challenge is the high cost associated with MRI machines and their maintenance. The initial investment required to purchase and operate MRI equipment can be prohibitive for smaller veterinary practices, limiting their ability to provide these services to clients.

Additionally, there exists a shortage of trained professionals who can operate MRI machines and interpret the resulting data accurately. This skill gap poses a barrier to the adoption of MRI technology in veterinary practices, as the lack of qualified personnel can lead to suboptimal usage of available equipment.

Regulatory challenges also play a role in restraining market growth. The approval processes for new medical devices, including veterinary MRI machines, can be lengthy and complex, delaying the introduction of innovative technologies into the market. Moreover, varying regulations across different regions can complicate the ability of manufacturers to market and sell their products effectively.

Finally, competition from alternative imaging modalities such as ultrasound and CT scans can also impede the growth of the veterinary MRI market. Many veterinary clinics may opt for these less expensive options, primarily when dealing with routine diagnostics, thus limiting the overall market share for MRI technology.

Regional Forecast:

North America

The North American veterinary MRI market is characterized by its largest share, primarily driven by advancements in veterinary medicine and therapy. The United States leads the market due to a high number of companion animals, a growing focus on pet health, and significant investments in veterinary infrastructure. Canada follows closely, supported by a strong regulatory framework for veterinary practices and increasing adoption of advanced imaging technologies. The strong presence of major veterinary diagnostic equipment manufacturers in this region further consolidates North America's dominance.

Asia Pacific

In the Asia Pacific region, the veterinary MRI market is witnessing rapid growth, particularly in countries such as China and Japan. China is emerging as a key player due to rising pet ownership and an increasing demand for better veterinary care, leading to greater investments in veterinary technology. Japan, with its advanced healthcare system and emphasis on pet wellness, shows a robust market as well. South Korea is also anticipated to contribute significantly, driven by an increase in disposable income and a growing trend of pet humanization, prompting veterinary clinics to adopt advanced imaging solutions.

Europe

Europe presents a diverse landscape for the veterinary MRI market, with Germany, the UK, and France standing out as key contributors. Germany leads the market through a well-established veterinary healthcare system, high pet ownership rates, and a strong focus on technological innovation. The UK follows closely, bolstered by increasing awareness of pet health and the availability of advanced veterinary practices. France is also notable for its significant investments in veterinary care and emerging technologies, reflecting a growing inclination towards high-quality veterinary services. The overall trend in Europe indicates a steady growth in the adoption of MRI technologies across its major economies.

Segmentation Analysis:

In terms of segmentation, the global Veterinary MRI market is analyzed on the basis of Solutions, Type, End-Use.

Veterinary MRI Market Analysis

Solutions

The solutions segment within the veterinary MRI market encompasses hardware, software, and services essential for effective MRI diagnostics and imaging. Hardware includes the MRIs themselves, with advancements driving trends toward higher field strengths and increased automation, leading to improved image quality and reduced examination time. Software solutions, focusing on image analysis and management, are gaining traction as veterinary practices seek to streamline operations and enhance diagnostic accuracy. Services, including installation, maintenance, and training, play a vital role in this segment, as practices demand reliable support for their sophisticated imaging technologies. Among these, hardware is anticipated to exhibit significant market size, while software solutions are projected to achieve rapid growth due to the increasing importance of digital tools in veterinary diagnostics.

Type

The type segment categorizes veterinary MRI systems based on field strength, notably low-field, mid-field, and high-field MRI systems. High-field MRI systems stand out in the market due to their superior imaging capabilities, making them the preferred choice for complex veterinary cases, particularly in specialty practices. Meanwhile, low-field and mid-field systems cater to primary veterinary care settings, providing a more affordable solution for general diagnostics. The high-field segment is expected to show the largest market size, driven by the growing demand for advanced imaging technologies, while low-field and mid-field systems are anticipated to witness rapid growth as smaller practices upgrade their equipment to stay competitive and meet client expectations.

End-Use

The end-use segment comprises veterinary hospitals, clinics, and research institutions that utilize MRI for various diagnostic purposes. Veterinary hospitals dominate this section, benefiting from the rising trend towards specialized care for pets and equines, which drives the adoption of advanced imaging technologies. Clinics, on the other hand, are increasingly investing in MRI to enhance their diagnostic capabilities, particularly as the trend toward preventive medicine grows. Research institutions focus on advanced studies involving diagnostic imaging, contributing to innovation in veterinary medicine. Among these, veterinary hospitals are projected to hold the largest market size, while clinics may experience the fastest growth owing to a growing influx of pet owners seeking specialized care and diagnostic services in traditional settings.

Competitive Landscape:

The veterinary MRI market is characterized by a competitive landscape with several key players focusing on technological advancements and strategic partnerships to enhance their offerings. Leading companies are investing in research and development to introduce advanced imaging techniques and systems with improved resolution and faster scanning times. There is also a growing trend of collaborations between veterinary hospitals and equipment manufacturers to provide better diagnostic services. The rising adoption of MRI in veterinary practices highlights the increasing awareness of advanced imaging methods among pet owners and veterinarians. Competitive pricing and customization of MRI systems for diverse animal sizes and types are further driving market dynamics, fostering innovation and growth within the industry.

Top Market Players

1. Siemens Healthineers

2. GE Healthcare

3. Philips Healthcare

4. Hitachi Medical Systems

5. Canon Medical Systems

6. Esaote S.p.A.

7. Bruker Corporation

8. Fujifilm Holdings Corporation

9. IMRIS (a division of Meratech)

10. Neusoft Medical Systems