Report Description

Global Veterinary Ultrasound Market is anticipated to witness an impressive growth during the forecast period. This can be ascribed to the growing prevalence of various pet related diseases like cancer. Additionally, growing number of veterinary clinics and hospital across the region and rising uptake of pet care and insurance domain have significantly increased the demand for veterinary ultrasound across different parts of the globe. Additionally, growing awareness pertaining animal health and safety remains a primary contributor for the adoption of ultrasound, helping fuel the market growth through 2028. Besides, increasing disposable income and growing government schemes, combined with various other initiatives across countries for animal healthcare, are further expected to support the veterinary ultrasound market during the forecast period. Furthermore, growing prevalence of cardiovascular disorders, along with the rapidly increasing pet population, is further expected to increase the demand for veterinary ultrasound procedures, thereby supporting the market growth. Ultrasound is a non-invasive diagnostic tool that is used to examine internal organs, tissues, and fluids in animals. It is a valuable tool for veterinarians in diagnosing and monitoring various conditions in animals such as pregnancy, heart disease, and cancer. Ultrasound machines can also be used for guided procedures such as biopsies and fluid collection. One of the primary challenges facing the veterinary ultrasound market is the high cost of equipment. While advances in ultrasound technology have made it possible to develop smaller, more portable, and more affordable ultrasound machines, the cost of these machines can still be prohibitive for many veterinary practices. This can limit the adoption of ultrasound technology in some markets, particularly in developing countries. Another challenge facing the veterinary ultrasound market is a limited number of skilled operators. Performing ultrasound requires specialized training and expertise, and there is a shortage of trained operators in some markets. This can limit the adoption of ultrasound technology, as veterinary practices may not have the necessary resources to train staff or hire additional operators. While ultrasound is a valuable diagnostic tool in animal healthcare, it faces competition from alternative technologies, such as X-ray and MRI. While these technologies are more expensive, they may offer higher resolution images or be more suitable for certain applications, such as bone imaging. This competition can limit the adoption of ultrasound technology in some markets. There is a lack of standardization in the veterinary ultrasound market, particularly in terms of protocols and training programs. This can make it difficult for veterinarians to compare results and make accurate diagnoses, as different operators may use different techniques and settings. Standardization efforts are underway in some markets, but more work is needed to establish universal protocols and training programs. The adoption of veterinary ultrasound technology can be challenging in rural areas, where access to veterinary services and resources may be limited. This can limit the availability of ultrasound technology and the ability of veterinarians to use it in these settings. Additionally, the cost of equipment and training may be higher in rural areas, further limiting adoption.

Increasing Companion Animal Population is Fueling the Market Growth

Worldwide, the number of companion animals and their adoption rate have both increased sharply. Keeping a companion animal is related to superior health outcomes, including fewer cardiac arrhythmias, normalized blood pressure, less anxiety, more psychological stability, and better overall wellbeing, according to many studies. The demand for pet care goods and services is anticipated to increase due to the growing pet population worldwide, which will subsequently fuel the expansion of the veterinary ultrasound market throughout the course of the projected period. According to the National Pet Owners Survey (2021-2022) conducted by the American Pet Products Association (APPA), 70% of US households which accounts for approximately 90.5 million families, own a pet. Emerging countries such as Brazil, China, Japan, and Mexico also have significant growth in pet ownership. The prevalence of animal diseases is on the rise, with many diseases affecting both pets and livestock. As a result, there is a growing need for accurate and efficient diagnostic tools that can help veterinarians quickly identify and treat these diseases. Ultrasound is a non-invasive and safe diagnostic tool that can be used to diagnose a range of conditions, including cancer, heart disease, and pregnancy.

Growing Awareness about Pet Healthcare is Driving the Market Growth

Increasing need for animal diagnostic for various issues such as pregnancy related problem, organ enlargement, foreign body ingestion, and internal injuries have resulted in an increase in animal healthcare expenditure, which will further boost the market growth during the forecast period. Rising demand for better animal healthcare is a factor likely to drive the global veterinary ultrasound market. North America, Europe and Asia Pacific are likely to be key markets for the growth of veterinary ultrasound. Moreover, increasing support from the government in terms of insurance and investments in the veterinary healthcare industry is also supporting the growth of the veterinary ultrasound market in the forecast period. In 2017, around 1,010 out of 100,000 cats and 508 out of 100,000 dogs seen at Banfield Hospitals had intestinal parasites. This statistic shows low prevalence health conditions among cats and dogs in the U.S. in 2017. There is a growing awareness of the importance of animal health, driven by concerns around zoonotic diseases and the impact of animal diseases on the economy. As a result, there is a growing focus on animal healthcare and a need for advanced diagnostic tools to help diagnose and treat animal diseases. Advancements in ultrasound technology have made it possible to develop smaller, more portable, and more affordable ultrasound machines. These advancements have made ultrasound more accessible to veterinarians and have enabled them to use ultrasound in a wider range of settings. Governments around the world are increasing funding for animal healthcare, including veterinary services and diagnostic tools. This increased funding is helping to support the growth of the veterinary ultrasound market, as more resources are being devoted to the development and adoption of new technologies. The adoption of pet insurance is on the rise, with more pet owners opting for coverage to help cover the cost of veterinary services. This increased coverage is enabling pet owners to access more advanced diagnostic tools, such as ultrasound, which is helping to drive demand for veterinary ultrasound services. One of the most significant recent developments in the global veterinary ultrasound market is advances in technology. Ultrasound machines have become smaller, more portable, and more affordable, making them more accessible to veterinary practices around the world. Additionally, advances in software and imaging technology have improved the accuracy and resolution of ultrasound images, allowing for better diagnosis and monitoring of conditions in animals. Another recent development in the veterinary ultrasound market is the integration of ultrasound technology with telemedicine. Telemedicine allows veterinarians to remotely access ultrasound images and consult with specialists or colleagues, improving collaboration and diagnostic accuracy. This integration is particularly valuable in rural areas, where access to veterinary services and resources may be limited.

Recent Development

  • For instance, in August 2020, IDEXX Laboratories, Inc. launched the ImageVue DR30 Digital Imaging System, hence expanding its imaging portfolio.
  • For instance, in October 2021, Butterfly Network Inc. launched its latest handheld ultrasound scanner called Butterfly iQ+ Vet, which is a second-generation device and brings sharper imaging, a new procedural guidance tool, and hardware improvements that make the solution more powerful, versatile, and easy-to-use.
  • The Easi-Scan ultrasound device, launched by IMV imaging in 2020, is a portable ultrasound system designed for use in bovine reproductive health. The device offers high-resolution images, a touchscreen interface, and a range of advanced features, including wireless connectivity and remote monitoring capabilities.
  • Clarius Imaging launched the Clarius Veterinary ultrasound device in 2021, offering a wireless, handheld ultrasound system that can be used with a smartphone or tablet. The device offers high-quality imaging, automatic gain and frequency adjustments, and a range of customizable settings.
  • GE Healthcare launched the LOGIQ V2 ultrasound system in 2021, designed specifically for use in veterinary practices. The system offers advanced imaging capabilities, including 3D and 4D imaging, and a range of specialty probes for different applications, including musculoskeletal and cardiac imaging.
  • Mindray launched the DP-20Vet ultrasound system in 2021, offering high-quality imaging and a range of features designed specifically for veterinary use, including a range of specialty probes, customizable settings, and advanced image processing.


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Market Segmentation

The global veterinary ultrasound market can be segmented by type, , by mobility, by technology, by animal type, by application, by end user, and by region. Based on type, the market can be segmented into 2D Ultrasound, Doppler Ultrasound, 3D/4D Ultrasound. Based on mobility, the market can be divided into Stationary and Portable. Based on technology, the market can be divided into Digital Imaging and Contrast Imaging. Based on animal type, the market can be divided into Companion Animals and Livestock Animals. Based on application, the market can be differentiated into Obstetrics & Gynecology, Cardiology, Orthopedics, and Others. Based on end user, the market can be segmented into Veterinary Hospitals & Clinics, Academic & Research Institutes, and Others. Regionally, North America dominated the market among Asia Pacific, Europe, Middle East & Africa, and South America. Among the different countries, United States dominated the global veterinary ultrasound market on account of growing demand for veterinarians and increasing number of animals being adopted as pets.

Market Players

Siemens Healthineers AG, Esaote SpA, GE Healthcare, Shimadzu Corporation, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., FUJIFILM Holdings Corporation, SonoScape Medical Corp, Samsung Electronics Co., Ltd., Diagnostic Imaging Systems, Inc., IMV Imaging (UK) Limited are some of the leading players operating in the Global Veterinary Ultrasound Market.

Attribute

Details

Base Year

2022

Historic Data

2018 – 2021

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028

Report Coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered

·         By Type

·         By Mobility

·         By Technology

·         By Animal Type

·         By Application

·         By End User

·         By Region

Regional scope

North America; Europe; Asia Pacific; South America; Middle East & Africa

Country scope

United States; Mexico; Canada; France; Germany; United Kingdom; Italy; Spain; China; India; South Korea; Japan; Australia; Brazil; Argentina; Colombia; South Africa; Saudi Arabia; UAE; Egypt; Turkey

Key companies profiled

Siemens Healthineers AG, Esaote SpA, GE Healthcare, Shimadzu Corporation, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., FUJIFILM Holdings Corporation, SonoScape Medical Corp, Samsung Electronics Co., Ltd., Diagnostic Imaging Systems, Inc., IMV Imaging (UK) Limited

Customization scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

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Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)


Report Scope:

In this report, global veterinary ultrasound market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

  • Veterinary Ultrasound Market, By Type:

o   2D Ultrasound

o   Doppler Ultrasound

o   3D/4D Ultrasound

  • Veterinary Ultrasound Market, By Mobility:

o    Stationary

o    Portable

  • Veterinary Ultrasound Market, By Technology:

o    Digital Imaging

o    Contrast Imaging

  • Veterinary Ultrasound Market, By Animal Type:

o    Companion Animals

o    Livestock Animals

  • Veterinary Ultrasound Market, By Application:

o    Obstetrics & Gynecology

o    Cardiology

o    Orthopedics

o    Others

  • Veterinary Ultrasound Market, By End User:

o    Veterinary Hospitals & Clinics

o    Academic & Research Institutes

o    Others

  • Veterinary Ultrasound Market, By Region:
    • North America
      • United States
      • Mexico
      • Canada
    • Europe
      • France
      • Germany
      • United Kingdom
      • Italy
      • Spain