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Veterinary Ultrasound Market by Animal Type [Small, Large (Equine, Farm)], Scanner [Cart-based, Handheld], Technology (2D, 3D/4D, Doppler), Application (Orthopedic, Cardiology, Obstetric & Gynecology), End User (Clinic, Hospital) - Global Forecast to 2030
Report ID: MRHC - 104741 Pages: 170 Jun-2024 Formats*: PDF Category: Healthcare Delivery: 24 to 72 Hours Download Free Sample ReportThe Veterinary Ultrasound Market is projected to reach $520.11 million by 2030, at a CAGR of 6.1% from 2024 to 2030. The veterinary ultrasound market comprises advanced ultrasound scanners used by veterinary professionals to diagnose diseases in animals and focus on their health.
The growth of this market is driven by factors such as the rise in the adoption of animals, increasing prevalence of zoonotic diseases, technological advancements in ultrasound devices, increasing animal health expenditure & pet insurance in developed countries, and favorable government initiatives. However, the lack of skilled professionals hampers market growth to a notable extent.
Favorable Government Initiatives Drive the Demand for Veterinary Ultrasound Procedures
Zoonotic disorders cause loss of production capacity in animals. Therefore, governments worldwide are focusing on increasing awareness about these diseases by promoting early disease diagnosis in animals. Market players are also working to promote animal health products. In December 2020, the U.S. Department of Agriculture’s (USDA) Animal and Plant Health Inspection Service (APHIS) awarded USD 14.4 million to 76 projects to protect animal health. This funding will help enhance the early detection of animal diseases and improve emergency response capabilities at National Animal Health Laboratory Network’s (NAHLN) veterinary diagnostic laboratories . Additionally, in May 2022, Merck Animal Health (U.S.) announced funding of USD 250,000 to Iowa State University (ISU) (U.S.) for supporting the construction of veterinary diagnostic laboratories. These factors are creating awareness about the importance of animal diagnosis, which is expected to drive the growth of the global veterinary ultrasound market.
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In 2024, the Small Animals Segment is Expected to Account for the Largest Share of the Veterinary Ultrasound Market
Based on animal type, in 2024, the small animals segment is expected to account for the largest share of the veterinary ultrasound market. The population of companion animals is increasing in developed countries. Furthermore, pet ownership provides physical and psychological health benefits to the owners. Therefore, health expenditure for pets is also increasing in developed countries, supporting the large market share of this segment.
In 2024, the Cart-based Ultrasound Scanner Segment is Expected to Account for the Largest Share of the Veterinary Ultrasound Market
Based on portability, in 2024, the cart-based segment is expected to account for the largest share of the veterinary ultrasound market. The ease of operation and quick diagnosis are the factors supporting the wide adoption of cart-based ultrasound in veterinary practices.
In 2024, the 2D Ultrasound Segment is Expected to Account for the Largest Share of the Veterinary Ultrasound Market
Based on technology, in 2024, the 2D ultrasound segment is expected to account for the largest share of the veterinary ultrasound market. The increased use of 2D ultrasound for disease diagnosis and pregnancy screening and the low cost of 2D ultrasound technology compared to other technology contributes to the large market share of this segment.
In 2024, the Cardiology Segment is Expected to Account for the Largest Share of the Veterinary Ultrasound Market
Based on application, in 2024, the cardiology segment is expected to account for the largest share of the veterinary ultrasound market. The increasing incidence of cardiac disorders among small and large animals contributes to the large market share of this segment. Some of the common cardiac diseases are mitral regurgitation and dilated cardiomyopathy (DCM) in dogs, hypertrophic cardiomyopathy in cats, arrhythmogenic right ventricular cardiomyopathy in boxers and bulldogs, and heartworm diseases.
In 2024, the Hospitals Segment is Expected to Dominate Veterinary Ultrasound Market
Based on end user, in 2024, the hospitals segment is expected to account for the largest share of the veterinary ultrasound market. Factors contributing to this segment's large market share are the adoption of technologically advanced ultrasound products, increased rate of animal adoption leading to an increased number of visits to the hospitals for veterinary care, and the high spending capacity of hospitals for establishing well-equipped infrastructure.
Asia-Pacific: Fastest-growing Regional Market
Based on geography, Asia-Pacific is slated to record the fastest growth rate during the forecast period. The growth of this regional market is mainly driven by the large population of livestock animals, rising incidence of various zoonotic diseases, rising awareness about animal health, and increasing disposable income leading to a rise in pet adoption.
Key Players
The key players profiled in the veterinary ultrasound market study are Esaote S.p.A (Italy), Sonostar Technologies Co. (China), Universal Imaging Inc. (U.S.), FUJIFILM Sonosite, Inc. (U.S.), SOUND (U.S.), Samsung Electronics Co., Ltd. (South Korea), Shenzhen Mindray Animal Medical Technology Co., LTD. (China), Siemens Medical Solutions, Inc. (U.S.), Heska Corporation (U.S.), IMV Imaging Ltd (U.K.), and DRAMIŃSKI S. A. (Poland).
Scope of the Report:
Veterinary Ultrasound Market, by Animal Type
Veterinary Ultrasound Market, by Portability
Veterinary Ultrasound Market, by Technology
Veterinary Ultrasound Market, by Application
Veterinary Ultrasound Market, by End User
Veterinary Ultrasound Market, by Geography
Key questions answered in the report:
The veterinary ultrasound market study covers the market sizes & forecasts for various veterinary ultrasound devices used in the animal health sector. The report involves the value analysis of various segments and subsegments of the veterinary ultrasound market at the regional and country levels.
The veterinary ultrasound market is projected to reach $520.11 million by 2030, at a CAGR of 6.1% during the forecast period.
Based on animal type, in 2024, the small animals segment is expected to account for the largest share of the veterinary ultrasound market. However, the large animals segment is projected to register the highest CAGR during the forecast period.
The veterinary clinics segment is slated to register the highest CAGR during the forecast period. The expansion of veterinary centers and the installation of advanced ultrasound devices in these centers drive the growth of this segment.
The growth of this market is driven by factors such as the rising adoption of animals, increasing prevalence of zoonotic diseases, technological advancements in ultrasound devices, increasing animal health expenditure & pet insurance in developed countries, and favorable government initiatives.
The key players operating in the veterinary ultrasound market are Esaote S.p.A (Italy), Sonostar Technologies Co. (China), Universal Imaging Inc. (U.S.), FUJIFILM Sonosite, Inc. (U.S.), SOUND (U.S.), Samsung Electronics Co., Ltd. (South Korea), Shenzhen Mindray Animal Medical Technology Co., LTD. (China), Siemens Medical Solutions, Inc. (U.S.), Heska Corporation (U.S.), IMV Imaging Ltd (U.K.), and DRAMI?SKI S. A. (Poland).
Emerging economies from Asia-Pacific, such as China and India, are projected to offer significant growth opportunities for vendors operating in this market due to the large population of livestock animals, the rising incidence of various zoonotic diseases, and a focus on adopting new technologies in animal healthcare.
Published Date: Jul-2024
Published Date: Jul-2024
Published Date: Jun-2024
Published Date: Mar-2024
Published Date: Mar-2024
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