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The increasing adoption of companion animals is expected to have a significant impact on the growth of the veterinary MRI market. With the increase in the pet population and animal health expenditures, pet insurance is also set to increase. Furthermore, according to the annual facts and figures published by FEDIAF, there has been immense growth in European pet ownership. In 2020, about 88 million households will owned at least one pet animal. The pet population is rapidly increasing, with an estimated 90 million.
With the increasing animal population, the prevalence of animal diseases is also increasing, leading to the need for early diagnosis and treatment of the diseases. The veterinary MRI system has a great application in the diagnosis of a wide range of neurology, oncology, cardiology, and other diseases in animals. With the use of MRI technology, health issues can be identified more quickly, and treatment can be administered more swiftly. These factors will increase the demand for veterinary imaging technologies such as veterinary MRI, veterinary CT imaging, veterinary X-ray, and veterinary ultrasound devices.