Veterinary Ultrasound Market Research Report - Global Forecast till 2027

Veterinary Ultrasound Market Research Report: Information by Animal Type (Small Companion Animals, Large Animals), Type (2D Ultrasound Imaging, 3D Ultrasound Imaging, Doppler Imaging), Product Type, (Device (Cart Based Ultrasound Scanners, Portable/Compact Ultrasound Scanners) and Software), Therapeutic Area, (Orthopedics and Traumatology, Cardiology, Oncology and Neurology), Imaging Technology (Digital Imaging Technology, Analog Imaging Technology and Contrast Imaging Technology), End User (Veterinary Clinics, Veterinary Hospitals and others) and Region (Americas, Europe, Asia-Pacific and the Middle East & Africa) - Global Forecast till 2027

ID: MRFR/MED/4596-CR | August 2019 | Region: Global | 188 pages

Please note that the assessment period of report has been updated from 2018-2023 to 2020-2027. Cordially fill the sample form for updated data and TOC.

Market Overview:


Veterinary ultrasound machines make use of a 1.5-15 megahertz of ultrasonic sound waves to scan an animal’s body and create an image of the internal body structure of the animal. This works on the echoes reflected by the scanner from the targeted tissues and organs of the animal body.


The increasing number of injuries, an animal can get during accidents and other diseases has caused veterinary ultrasound a rise in the healthcare market domain. Injuries that could lead to internal bleeding, cyst, abdomen bleeding, cancer scans, tumors, etc. have caused the veterinary ultrasound companies to invest in the development and functioning of veterinary ultrasound scanners and machines to track animal reports. An ultrasound machine is of much more use than an x-ray machine to detect internal injuries of the animals’ pain-free and risk-free.


The veterinary ultrasound industry is expected to generate a revenue of more than 400 million US dollars by the forecast year. The veterinary ultrasound industry is expected to register a CAGR of more than 5.9% by the year 2023.


COVID-19 Analysis:


The world saw the outbreak of a deadly virus in the November of 2019. The international emergency was declared worldwide seeing to the impact of the virus. With the immense loss of man-power countries, economical wealth came to a stand-still. Many countries like Russia, Italy, Brazil, etc. population was diminished to a considerable amount and other countries like the US, India, UK, etc. are facing a rise in active COVID-19 cases on daily basis. Global lockdowns were imposed countrywide and further state-wise to contain the spread of the virus. The veterinary ultrasound industry’s growth was neither empowered nor diminished during the COVID-19 times. With the healthcare industry’s major ideology shift was working to find the vaccine of the pandemic, the veterinary ultrasound industry helped keep animals safe during these times.


Market Dynamics:



  • Drivers:


The major factors that led to the rise of the veterinary ultrasound industry are the increasing population of animals, an increase in the money invested to treat pets and thus, an increase in pet insurance demand, and an increasing number of doctors who adapt to vet practice. With advanced technology, pet doctors have shown interest to developed better ultrasound machines to fulfill the needs of an animal. This might help in making advancements in treating zoonotic disease, pet disease, etc.



  • Challenges:


The major challenges faced by the veterinary ultrasound industry are the increased cost of medical insurance for animals, high cost of treatments for animals, lack of knowledge and awareness in people about animal health.



  • Technology Analysis:


The increasing number of injuries, an animal can get during accidents and other diseases has caused veterinary ultrasound a rise in the healthcare market domain. An ultrasound machine is of much more use than an x-ray machine to detect internal injuries of the animals’ pain-free and risk-free. Veterinary ultrasound machines make use of a 1.5-15 megahertz of ultrasonic sound waves to scan an animal’s body and create an image of the internal body structure of the animal using a Cart-based ultrasound scanner or handheld (compact) ultrasound scanners and creating 2D ultrasound, 3D ultrasound, 4D ultrasound, or Doppler ultrasound as per the size of animal and type of injury. This works on the echoes reflected by the scanner from the targeted tissues and organs of the animal body used for cardiology, obstetrics, gynecology, oncology, orthopedics, etc. field of requirement. Injuries that could lead to internal bleeding, cyst, abdomen bleeding, cancer scans, tumors, etc. have caused the veterinary ultrasound companies to invest in the development and functioning of veterinary ultrasound scanners and machines to track animal reports.


Study Objectives:


The basic study objectives of the veterinary ultrasound industry report are:


- Analyze the market trend, market structure, and growth prospective


- Check competitive landscape and scope of development of the market leaders


- Study strategic alliances, joint ventures, and research and development of the veterinary ultrasound industry


- Forecast the profit, revenue, and CAGR as per market trends.


- Fragmentation of the veterinary ultrasound industry


Segment Overview:


By Type:


The veterinary ultrasound industry is segmented by type as 2D ultrasound, 3D ultrasound, 4D ultrasound, and doppler ultrasound. Cart-based ultrasound scanners or handheld (compact) ultrasound scanners have been made to fulfill the industry demands. This work as per the size of animal i.e. small and large animals.


By Technology:


The veterinary ultrasound industry is segmented by technology as digital imaging technology and analog imaging technology.


By Application:


The veterinary ultrasound industry is segmented by application as the area of scan in an animal body. The application fragmentation is generally in the field of cardiology, obstetrics, gynecology, oncology, orthopedics, etc.


By Vertical:


The veterinary ultrasound industry is segmented by vertical as veterinary clinics and veterinary hospitals.


Regional Analysis:


The veterinary ultrasound market is divided into 4 major regions namely the North American regions, Asia Pacific, Middle East, and Africa, along with Latin America. North America is expected to experience the largest market share by the end of the global forecast in 2023. The main factor behind this is the increased quantum of adoption of companion animals by individuals, as well as, a major growth being experienced by the pet insurance industry, as well as, expenditure on their healthcare and wellness. Also, veterinary practices are on a rise in this region. The growth is expected to be followed by the European, along with the Asian Pacific regions by increasing their presence in the animal ultrasound industry.


Competitive Landscape:


The veterinary ultrasound service providers have adopted inorganic and organic strategies to analyze the market growth, and predict the new product launches, joint ventures, mergers, and acquisitions, to expand the technology in the veterinary ultrasound system. The audiences attracted by the veterinary ultrasound industry are veterinary clinics, veterinary hospitals, consultancy firms, research and development departments, veterinary ultrasound technicians, veterinary ultrasound scanner manufactures, veterinary ultrasound scanner retailers, and many more.


The prominent market players are GE Healthcare (US), Diagnostic Imaging Systems Inc. (US), 


Heska Corporation (US), EsaoteSpA (Italy), FUJIFILM Holdings Corporation (Japan), Siemens AG (Germany), Samsung Medison Co. Ltd.( Korea), Mindray Medical International (China), DRAMINSKI S.A. (Poland), Clarius Mobile Health (US), Shenzhen Rico Technology Co. Ltd. (China), IVM imaging (Scotland), SonoScape Medical Corporation 


(China), Shantou Institute of Ultrasonic Instruments Co. Ltd. (SIUI), and many more.


Recent Developments:


The Chinese investors acquired the firm EsaoteSpA in April 2018. This acquisition results in boosting the operations of Esaote that were related to the development plans, and service distribution in the Chinese market. 


A partnership deed was formed between Fujifilm Sonosite, as well as Partners Healthcare, belonging to the US. This partnership took place in July 2019, with the motive of enchanting the design of the ultrasound projects in collaboration with artificial intelligence. 


A brand-new scanner for conducting ultrasounds was launched by the E.I Medical Imaging company with the name of IBEX PRO in September 2019. 


The industries based in the USA, are focusing on the increase in adoption of animals as companions, pet insurance services, and industries, as well as, rise in the expenditure for veterinary healthcare. Also, the major players are focusing on putting efforts to help the veterinary practices gain wider momentum. 


Report Overview:


The global veterinary ultrasound industry market shares insights on the market structure, market growth, revenue, and expected CAGR of the forecast cast year. It shares details about strategic alliances, joint ventures, new developments, and research, and development of the veterinary ultrasound industry. It states the competitive landscape and scope of development of the market leaders. It also registers the logical report of the factors that have driven the rise of veterinary ultrasound industrial growth and the challenges faced by the industry due to the increased cost of medical insurance for animals, high cost of treatments for animals, lack of knowledge and awareness in people about animal health.



Frequently Asked Questions (FAQ) :


Veterinary Ultrasound Market is projected to grow at a 6.10%CAGR between 2020-2027.

Veterinary Ultrasound Market is predicted to touch USD 234.55 million by 2023.

North America is predicted to spearhead the Veterinary Ultrasound Market.

Increase in pet ownership and growing demand for veterinary equipment and treatments are boosting market growth.

Lack of awareness about zoonotic diseases may deter market growth.

The global veterinary ultrasound market is expected to attain USD 234.55 Million by the end of 2023 which was valued at USD 164.42 Million in 2017. The market is likely to consolidate in the forthcoming years and factors such as mounting trend of pet ownership and adoption, and increase in animal healthcare expenditure will help shape the global veterinary market and capture a CAGR of 6.10% over the forecast period of 2018-2023, proclaims Market Research Future (MRFR) in an exhaustive research report.


There has been a significant rise in pet ownership over the last decade. With the rise in disposable income on a global scale, pet owners have become more susceptible towards spending on animal healthcare. As per the Oasmia Pharmaceutical AB in the US, the number of pets (dogs) increased from 68 million to 83.3 million from 2000 to 2014. An estimated 60 million dogs are kept as pets in countries such as Bulgaria, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Slovakia, and Slovenia and around 15 million dogs in Japan. Pet owners spend a lot on routine vet expenses on visits to surgical vets. Moreover, the progressive trend of pet humanization has led to a substantial increase in explicit animal healthcare spending. Thus, with the increasing expenditure on the treatment of pets, the demand for veterinary treatments and equipment is expected to inflate.


Increasing pet insurance cover fosters the growth of the global veterinary ultrasound market. Pet insurance covers various minor to major medical expenses such as accidents, chronic conditions, wellness, and routine care coverage, medication coverage, and diagnostic testing and imaging, among others. Pet insurance facilitates reimbursements of up to 80% of the total costs which encourages pet owners to spend on treatment and diagnosis. According to the North American Pet Health Insurance Association (NAPHIA), the growth of pet health insurance in North America growth was exceeded by 17.2% from 2014 to 2015.


Lack of awareness regarding the occurrence of zoonotic diseases and other animal welfare issues is shallow among most pet owners which is likely to impede the growth of the market over the forecast period.


There has been an uptick in the prevalence of animal-related complications which has prompted veterinary imaging device manufacturers to come up with innovative products to comply with proposed FDA guidelines. The FDA and other government bodies are establishing new standards for the accuracy of imaging. The FDA standard is majorly driven by technological advances, improved meter accuracy, research studies, and consumer complaints about products. There have been various innovations in products in the recent years, and surging competition among market players is expected to provide opportunities for market expansion over the forecast period.


The global veterinary ultrasound market has been segmented based on animal type, type, product type, therapeutic area, imaging technology, and end users. By animal type, the market has been segmented into small companion animals, large animals, and others. The small companion segment was valued at USD 106.61 Million in 2017 and is the largest segment by animal type. The small companion animals segment has been gaining momentum due to the rising trend of pet ownership, the high adoption rate of companion animals, especially cats and dogs and is expected to be the largest segment over the forecast period, attaining USD 154.40 Million by 2023.


By type, the market has been segmented into 2D ultrasound imaging, 3D ultrasound, Doppler imaging, and others. The 2D ultrasound imaging segment is the most commonly used ultrasound diagnostic technology and accounts for the largest share of the market.


By product type, the market has been segmented into devices and software. Devices are further segmented into portable/compact ultrasound scanners and cart-based ultrasound scanners. The devices segment accounted for USD 133.58 million in 2017 and is projected to lead the market over the forecast period.


By therapeutic area, the market has been segmented into neurology, oncology, cardiology, orthopedics and traumatology, and others. The orthopedics and traumatology segment is the largest segment and is gaining traction owing to a high incidence rate of bone injuries and rising prevalence of arthritis, lameness disease, and others. Additionally, the growing demand for accurate diagnostic solutions and the availability of animal care facilities fuel the growth of this segment. The segment is projected to reach USD 104.11 Million by the end of 2023.


By imaging technology, the market has been segmented into digital imaging technology, analog imaging technology, and contrast imaging technology. The digital imaging technology segment accounted for USD 100.73 Million in 2017 and is expected to remain dominant over the forecast period.


By end users, the market has been segmented into veterinary clinics and veterinary hospitals. In 2017, the veterinary clinics segment accounted for the largest share of the market which can be attributed to the preference of pet owners to visit clinics owing to the presence of specialty doctors.


Regional Analysis


North America represents the largest market for veterinary ultrasound market and is expected to reach USD 87.20 Million by the end of 2023 at a CAGR of 5.89% over the forecast period. High pet adoption rate coupled with growing awareness regarding animal health and welfare drives the market in North America. According to a survey conducted by the National Pet Owners, in 2017, around 68% of the families or households owned pets in the US. In addition, development of technically advanced devices, increasing trend of preventive care for animals and growing insurance coverage for animal treatment spurs the growth of the veterinary ultrasound market in North America.


Europe follows North America closely in the global veterinary ultrasound market. Availability of advanced treatment facilities and high expenditure on animal healthcare feeds the growth of the market in Europe. Furthermore, Raising awareness regarding animal welfare and high pet adoption rate also support the market growth in Europe. According to the European Pet Food Industry, in 2016, there were around 80 million households owning pets in Europe.


Competitive Tracking


GE Healthcare, Hitachi Aloka Medical, Ltd., Fujifilm SonoSite Inc., and Esaote are the top market players in the global veterinary ultrasound market. Other notable players include Chison, Samsung Medison Co. Ltd, Mindray, SonoScape, Xuzhou Kaixin Electronic Instrument Co., Ltd, BCF Technology, and Kaixin Electric.

1 Report Prologue


2 Introduction

2.1 Definition 19

2.2 Scope of the Study 19

2.3 Research Objective 19

2.4 Assumptions & Limitations 19

2.4.1 Assumptions 19

2.4.2 Limitations 19

2.4.3 Market Structure 20

3 Research Methodology

3.1 Primary Research Methodology 22

3.2 Secondary Research Methodology 24

3.3 Market Size Estimation 25

3.4 Forecast Model 25

4 Market Dynamics

4.1 Introduction 27

4.2 Drivers 28

4.2.1 Rising Zoonotic Diseases 28

4.2.2 Increasing Pet Insurance 28

4.2.3 Increased Spending on Animal Health 28

4.3 Restraints 29

4.3.1 Lack of Awareness Regarding Animal Health 29

4.3.2 Rising Cost of Pet Care 29

4.4 Opportunity 29

4.4.1 Innovations in Veterinary Ultrasound Instruments 29

5 Market Factor Analysis

5.1 Value Chain Analysis 31

5.1.1 R&D and Designing 31

5.1.2 Manufacturing 31

5.1.3 Packaging & Assembly 31

5.1.4 Distribution & Sales 32

5.1.5 Post-Sales Review 32

5.2 Porter’s Five Forces Model 33

5.2.1 Bargaining Power of Suppliers 33

5.2.2 Bargaining Power of Buyers 33

5.2.3 Threat of New Entrants 33

5.2.4 Threat of Substitutes 34

5.2.5 Intensity of Rivalry 34

5.3 Demand & Supply: Gap Analysis 34

5.4 Investment Opportunities Analysis 34

5.5 Pricing Analysis 34

6 Veterinary Ultrasound Market, by Animal Type

6.1 Introduction 36

6.1.1 Small Companion Animals 37

6.1.2 Large Animals 37

7 Veterinary Ultrasound Market, by Type

7.1 Introduction 39

7.1.1 2D Ultrasound Imaging 40

7.1.2 3D Ultrasound Imaging 40

7.1.3 Doppler Imaging 40

8 Veterinary Ultrasound Market, by Product Type

8.1 Introduction 42

8.1.1 Device 43

8.1.1.1 Cart Based Ultrasound Scanners 44

8.1.1.2 Portable/Compact Ultrasound Scanners 44

8.1.2 Software 44

9 Veterinary Ultrasound Market, by Therapeutic Area

9.1 Introduction 46

9.1.1 Orthopedics and Traumatology 47

9.1.2 Cardiology 47

9.1.3 Oncology 48

9.1.4 Neurology 48

10 Veterinary Ultrasound Market, by Imaging Technology

10.1 Introduction 50

10.1.1 Digital Imaging Technology 51

10.1.2 Analog Imaging Technology 51

10.1.3 Contrast Imaging Technology 51

11 Veterinary Ultrasound Market, by End User

11.1 Introduction 53

11.1.1 Veterinary Clinics 54

11.1.2 Veterinary Hospitals 54

12 Global Veterinary Ultrasound Market, by Region

12.1 Americas 58

Veterinary Ultrasound Market, by Animal Type

Veterinary Ultrasound Market, by Type

Veterinary Ultrasound Market, by Product Type

Veterinary Ultrasound Market, by Therapeutic Area

Veterinary Ultrasound Market, by Imaging Technology

Veterinary Ultrasound Market, by End User

12.1.1 North America 61

Veterinary Ultrasound Market, by Animal Type

Veterinary Ultrasound Market, by Type

Veterinary Ultrasound Market, by Product Type

Veterinary Ultrasound Market, by Therapeutic Area

Veterinary Ultrasound Market, by Imaging Technology

Veterinary Ultrasound Market, by End User

12.1.1.1 US. 64

Veterinary Ultrasound Market, by Animal Type

Veterinary Ultrasound Market, by Type

Veterinary Ultrasound Market, by Product Type

Veterinary Ultrasound Market, by Therapeutic Area

Veterinary Ultrasound Market, by Imaging Technology

Veterinary Ultrasound Market, by End User

12.1.1.2 Canada 66

Veterinary Ultrasound Market, by Animal Type

Veterinary Ultrasound Market, by Type

Veterinary Ultrasound Market, by Product Type

Veterinary Ultrasound Market, by Therapeutic Area

Veterinary Ultrasound Market, by Imaging Technology

Veterinary Ultrasound Market, by End User

12.1.2 South America 69

Veterinary Ultrasound Market, by Animal Type

Veterinary Ultrasound Market, by Type

Veterinary Ultrasound Market, by Product Type

Veterinary Ultrasound Market, by Therapeutic Area

Veterinary Ultrasound Market, by Imaging Technology

Veterinary Ultrasound Market, by End User

12.2 Europe 72

Veterinary Ultrasound Market, by Animal Type

Veterinary Ultrasound Market, by Type

Veterinary Ultrasound Market, by Product Type

Veterinary Ultrasound Market, by Therapeutic Area

Veterinary Ultrasound Market, by Imaging Technology

Veterinary Ultrasound Market, by End User

12.2.1 Western Europe 75

Veterinary Ultrasound Market, by Animal Type

Veterinary Ultrasound Market, by Type

Veterinary Ultrasound Market, by Product Type

Veterinary Ultrasound Market, by Therapeutic Area

Veterinary Ultrasound Market, by Imaging Technology

Veterinary Ultrasound Market, by End User

12.2.1.1 Germany 78

Veterinary Ultrasound Market, by Animal Type

Veterinary Ultrasound Market, by Type

Veterinary Ultrasound Market, by Product Type

Veterinary Ultrasound Market, by Therapeutic Area

Veterinary Ultrasound Market, by Imaging Technology

Veterinary Ultrasound Market, by End User

12.2.1.2 France 80

Veterinary Ultrasound Market, by Animal Type

Veterinary Ultrasound Market, by Type

Veterinary Ultrasound Market, by Product Type

Veterinary Ultrasound Market, by Therapeutic Area

Veterinary Ultrasound Market, by Imaging Technology

Veterinary Ultrasound Market, by End User

12.2.1.3 UK 83

Veterinary Ultrasound Market, by Animal Type

Veterinary Ultrasound Market, by Type

Veterinary Ultrasound Market, by Product Type

Veterinary Ultrasound Market, by Therapeutic Area

Veterinary Ultrasound Market, by Imaging Technology

Veterinary Ultrasound Market, by End User

12.2.1.4 Italy 85

Veterinary Ultrasound Market, by Animal Type

Veterinary Ultrasound Market, by Type

Veterinary Ultrasound Market, by Product Type

Veterinary Ultrasound Market, by Therapeutic Area

Veterinary Ultrasound Market, by Imaging Technology

Veterinary Ultrasound Market, by End User

12.2.1.5 Spain 88

Veterinary Ultrasound Market, by Animal Type

Veterinary Ultrasound Market, by Type

Veterinary Ultrasound Market, by Product Type

Veterinary Ultrasound Market, by Therapeutic Area

Veterinary Ultrasound Market, by Imaging Technology

Veterinary Ultrasound Market, by End User

12.2.1.6 Rest of Western Europe 90

Veterinary Ultrasound Market, by Animal Type

Veterinary Ultrasound Market, by Type

Veterinary Ultrasound Market, by Product Type

Veterinary Ultrasound Market, by Therapeutic Area

Veterinary Ultrasound Market, by Imaging Technology

Veterinary Ultrasound Market, by End User

12.2.2 Eastern Europe 93

Veterinary Ultrasound Market, by Animal Type

Veterinary Ultrasound Market, by Type

Veterinary Ultrasound Market, by Product Type

Veterinary Ultrasound Market, by Therapeutic Area

Veterinary Ultrasound Market, by Imaging Technology

Veterinary Ultrasound Market, by End User

12.3 Asia-Pacific 96

Veterinary Ultrasound Market, by Animal Type

Veterinary Ultrasound Market, by Type

Veterinary Ultrasound Market, by Product Type

Veterinary Ultrasound Market, by Therapeutic Area

Veterinary Ultrasound Market, by Imaging Technology

Veterinary Ultrasound Market, by End User

12.3.1 Japan 99

Veterinary Ultrasound Market, by Animal Type

Veterinary Ultrasound Market, by Type

Veterinary Ultrasound Market, by Product Type

Veterinary Ultrasound Market, by Therapeutic Area

Veterinary Ultrasound Market, by Imaging Technology

Veterinary Ultrasound Market, by End User

12.3.2 China 101

Veterinary Ultrasound Market, by Animal Type

Veterinary Ultrasound Market, by Type

Veterinary Ultrasound Market, by Product Type

Veterinary Ultrasound Market, by Therapeutic Area

Veterinary Ultrasound Market, by Imaging Technology

Veterinary Ultrasound Market, by End User

12.3.3 India 104

Veterinary Ultrasound Market, by Animal Type

Veterinary Ultrasound Market, by Type

Veterinary Ultrasound Market, by Product Type

Veterinary Ultrasound Market, by Therapeutic Area

Veterinary Ultrasound Market, by Imaging Technology

Veterinary Ultrasound Market, by End User

12.3.4 Australia 106

Veterinary Ultrasound Market, by Animal Type

Veterinary Ultrasound Market, by Type

Veterinary Ultrasound Market, by Product Type

Veterinary Ultrasound Market, by Therapeutic Area

Veterinary Ultrasound Market, by Imaging Technology

Veterinary Ultrasound Market, by End User

12.3.5 South Korea 109

Veterinary Ultrasound Market, by Animal Type

Veterinary Ultrasound Market, by Type

Veterinary Ultrasound Market, by Product Type

Veterinary Ultrasound Market, by Therapeutic Area

Veterinary Ultrasound Market, by Imaging Technology

Veterinary Ultrasound Market, by End User

12.3.6 Rest of Asia-Pacific 111

Veterinary Ultrasound Market, by Animal Type

Veterinary Ultrasound Market, by Type

Veterinary Ultrasound Market, by Product Type

Veterinary Ultrasound Market, by Therapeutic Area

Veterinary Ultrasound Market, by Imaging Technology

Veterinary Ultrasound Market, by End User

12.4 Middle East & Africa 114

Veterinary Ultrasound Market, by Animal Type

Veterinary Ultrasound Market, by Type

Veterinary Ultrasound Market, by Product Type

Veterinary Ultrasound Market, by Therapeutic Area

Veterinary Ultrasound Market, by Imaging Technology

Veterinary Ultrasound Market, by End User

12.4.1 Middle East 117

Veterinary Ultrasound Market, by Animal Type

Veterinary Ultrasound Market, by Type

Veterinary Ultrasound Market, by Product Type

Veterinary Ultrasound Market, by Therapeutic Area

Veterinary Ultrasound Market, by Imaging Technology

Veterinary Ultrasound Market, by End User

12.4.2 Africa 119

Veterinary Ultrasound Market, by Animal Type

Veterinary Ultrasound Market, by Type

Veterinary Ultrasound Market, by Product Type

Veterinary Ultrasound Market, by Therapeutic Area

Veterinary Ultrasound Market, by Imaging Technology

Veterinary Ultrasound Market, by End User

13 Company Landscape

13.1 Competitive Overview of the Veterinary Ultrasound Market 123

14 Company Profiles

14.1 GE Healthcare 125

14.1.1 Company Overview 125

14.1.2 Financial Overview 125

14.1.3 Products Offered 126

14.1.4 Key Developments 126

14.1.5 SWOT Analysis 126

14.1.6 Key Strategies 126

14.2 Xuzhou Kaixin Electronic Instrument Co., Ltd 127

14.2.1 Company Overview 127

14.2.2 Financial Overview 127

14.2.3 Products Offered 127

14.2.4 Key Developments 127

14.2.5 SWOT Analysis 128

14.2.6 Key Strategies 128

14.3 Esaote 129

14.3.1 Company Overview 129

14.3.2 Financial Overview 129

14.3.3 Products Offered 129

14.3.4 Key Developments 129

14.3.5 SWOT Analysis 130

14.3.6 Key Strategies 130

14.4 Mindray 131

14.4.1 Company Overview 131

14.4.2 Financial Overview 131

14.4.3 Products Offered 131

14.4.4 Key Developments 131

14.4.5 SWOT Analysis 132

14.4.6 Key Strategies 132

14.5 Samsung Medison Co. Ltd. 133

14.5.1 Company Overview 133

14.5.2 Financial Overview 133

14.5.3 Products Offered 134

14.5.4 Key Developments 134

14.5.5 SWOT Analysis 134

14.5.6 Key Strategies 134

14.6 BCF Technology 135

14.6.1 Company Overview 135

14.6.2 Financial Overview 135

14.6.3 Products Offered 135

14.6.4 Key Developments 135

14.6.5 SWOT Analysis 136

14.6.6 Key Strategies 136

14.7 Fujifilm SonoSite Inc. 137

14.7.1 Company Overview 137

14.7.2 Financial Overview 137

14.7.3 Products Offered 138

14.7.4 Key Developments 138

14.7.5 SWOT Analysis 138

14.7.6 Key Strategies 138

14.8 Edan Instruments, Inc. 139

14.8.1 Company Overview 139

14.8.2 Financial Overview 139

14.8.3 Products Offered 139

14.8.4 Key Developments 139

14.8.5 SWOT Analysis 139

14.8.6 Key Strategies 140

14.9 CHISON MEDICAL TECHNOLOGIES CO., LTD. 141

14.9.1 Company Overview 141

14.9.2 Financial Overview 141

14.9.3 Products Offered 141

14.9.4 Key Developments 141

14.9.5 SWOT Analysis 141

14.9.6 Key Strategies 141

14.10 SonoScape Medical Corp 142

14.10.1 Company Overview 142

14.10.2 Financial Overview 142

14.10.3 Products Offered 142

14.10.4 Key Developments 142

14.10.5 SWOT Analysis 142

14.10.6 Key Strategies 143

14.11 Shantou Institute of Ultrasonic Instruments Co., Ltd (SIUI) 144

14.11.1 Company Overview 144

14.11.2 Financial Overview 144

14.11.3 Products Offered 144

14.11.4 Key Developments 144

14.11.5 SWOT Analysis 144

14.11.6 Key Strategies 144

14.12 CANON INC. 145

14.12.1 Company Overview 145

14.12.2 Financial Overview 145

14.12.3 Products Offered 145

14.12.4 Key Developments 145

14.12.5 SWOT Analysis 146

14.12.6 Key Strategies 146

14.13 Hitachi, Ltd. 147

14.13.1 Company Overview 147

14.13.2 Financial Overview 147

14.13.3 Products Offered 148

14.13.4 Key Developments 148

14.13.5 SWOT Analysis 148

14.13.6 Key Strategies 148

14.14 Siemens Healthcare 149

14.14.1 Company Overview 149

14.14.2 Financial Overview 149

14.14.3 Products Offered 149

14.14.4 Key Developments 150

14.14.5 SWOT Analysis 150

14.14.6 Key Strategies 150

15 Appendix

15.1 Discussion Blue Print 152

15.2 Recent Key Developments 155

15.3 References 155

Global Veterinary Ultrasound Market: Competitive Landscape


Globally, a large number of companies are working in the development and production of veterinary ultrasounds. These major companies have adopted extensive research, to offer better and cost-effective products. The American and European regions are a hub for major companies, generating the maximum market share which has turned these regions into a well-established market. These companies have expanded their operating units in various other regions as well. Moreover, there are various other small and medium scale players that generate revenue from local markets.


Some key players operating in this market are GE Healthcare, Fujifilm SonoSite Inc., Hitachi, Ltd, Chison, Esaote, Mindray, Kaixin Electric, and SonoScape, among others.


GE Healthcare is the largest in the global veterinary ultrasound market. GE Healthcare is followed by Fujifilm SonoSite Inc., Hitachi, Ltd, Chison, Esaote, Mindray, Kaixin Electric, and SonoScape, among others. The company had been a supplier of medical imaging equipment for more than 100 years in the healthcare industry. It specializes in the cardiology portfolio and helps to detect and fight cardiovascular diseases. The company has its presence in over 180 countries and employs approximately 313,000 people worldwide. GE Healthcare is focusing on enhancing its imaging market globally by adopting growth strategies such as product launches and organic investments and acquisitions in emerging markets. In 2017, the firm launched 26 new products in imaging and clinical care solutions markets.


Hitachi Aloka Medical, Ltd. is the second largest owing to its vast product portfolio and market presence. It is engaged in the development and supply of medical equipment worldwide. Its products include diagnostic ultrasound systems; bone densitometry system and bone mineral measurement systems; sample preparation systems; and in vivo micro-CT scanners for small laboratory animals. The company also provides radiation measuring instruments, such as survey meters, personal dosimeters, liquid scintillation systems, and area monitors. Hitachi Aloka Medical is the merger of Aloka Co., Ltd., and Hitachi Medical Corporation. This merger encompasses the ultrasound division of both Hitachi Medical Corporation and Aloka Co., Ltd. and enhances its market presence worldwide.


Fujifilm SonoSite Inc. is the third largest as it is engaged in developing, manufacturing, and distributing hand-carried ultrasound systems for use in several medical specialties and a range of treatment settings at the point-of-care. As of February 15, 2012, Fujifilm acquired SonoSite, Inc., a pioneer, and leader in the ultrasound technology. This acquisition enhances the position of Fujifilm SonoSite Inc. in the veterinary ultrasound market.


Esaote is the fourth largest as it is a global leader in diagnostic imaging products. The company is engaged in designing, manufacturing, and selling medical diagnostic systems. The company offers its products through its distribution network and sales representatives in Italy and internationally.