ID: MRFR/MED/4596-CR | 188 Pages | Author: Kinjoll Dey | August 2019
The veterinary ultrasound market was valued USD 122 million in 2020 and is expected to reach USD 830 Million by 2030 at 5.70% CAGR during the forecast period 2023-2030.
An ultrasound machine can detect tumors in some internal regions of the body which is not available properly in x-rays. These ultrasound devices are pain-free and risk-free and are widely used to look at the internal organs of the animal’s body. These are usually quick and do not require any special preparation in most cases which makes it more preferable. The veterinarians usually use these devices to guide a needle, while performing a biopsy. When compared to solid tumors, ultrasound devices are better to diagnose any disorder related to the generation of fluid-filled cysts. Because ultrasound can made different echo patterns which increases the demand for ultrasound devices for diagnosing certain animal diseases.
To scan animals bodies, veterinary ultrasound machines make use of 1.5 to 15 megahertz of ultrasonic sound waves which creates an image of the internal body structure of the animal’s body. This device works on the echoes which are reflected by the scanner from the tissues that are targeted and organs of the animal body.
COVID-19 Analysis:
In November 2019, the world saw the first deadly virus of the COVID-19. To the impact of the virus, a worldwide international emergency was declared. Economic wealth declined due to the loss of manpower and implementation of lockdowns.
To control the spread of the virus, country-wide and further state-wise global lockdowns are implemented. During the COVID-19 outbreak, the veterinary ultrasound industry growth is neither empowered ar diminished and this industry takes better care of animals safe in this period. The healthcare industries are working to find the vaccine to the pandemic.
Market Dynamics:
Drivers:
The increase in the prevalence of several internal injuries coupled with other diseases including blood in the abdomen, cests, and cancer in the companion animals like dogs, cats, horses, and livestock animals like cattle, swine, and more coupled with growing demand for diagnosis diseases are predicted to fuel the growth of the veterinary ultrasound market demand. Pet doctors should practice and train through veterinary ultrasound training online.
The growing population of animals, rise in the money invested to treat pets, an increase in pet insurance demand, and the growing number of vet doctors who adopt practice are some other factors boosting the market growth of the veterinary ultrasound. An increase in zoonotic disease is propelling the demand for the veterinary ultrasound scanners market. Increasing disposable income, rising demand for miniaturization of the technology, and growing government initiatives and schemes for animal healthcare are the factors accelerating the market growth.
Restraint:
The veterinary ultrasound cost is nowadays very expensive to treat the animals and the cost of medical insurance for animals is also increased which is restraining the veterinary ultrasound market growth.
Opportunities:
By using the technological innovations in ultrasound machines, the veterinary ultrasound technicians develop better machines to fulfill the needs of an animal which helps in treating zoonotic disease, pet disease, etc.
Challenges:
Lack of knowledge and awareness among people regarding animal health is a challenge to the market growth of the veterinary ultrasound. In underdeveloped countries, the healthcare systems are underdeveloped which limits the veterinary ultrasound market growth. Moreover, stringent regulations over the adoption of animals by the governments are also hindering the growth.
Study Objectives -
The veterinary ultrasound system market has been divided into segments based on type, technology, application, vertical, and region.
The veterinary ultrasound services based on the type are classified into four types as 2D ultrasound, 3D ultrasound, 4D ultrasound, and doppler ultrasound. To fulfill the industry demands, cart-based ultrasound scanners or handheld ultrasound scanners are specially manufactured. These scanners work as per the animal’s size either large or small. Due to the widespread popularity of the 2D segment scanners in disease diagnosis and pregnancy detection, the 2D ultrasound segment is holding the largest share.
The veterinary ultrasound companies based on the technology are bifurcated into digital imaging technology and analog imaging technology.
The veterinary ultrasound market by applications is segmented into cardiology, obstetrics, gynecology, oncology, orthopedics, etc.
Based on vertical, the veterinary ultrasound industry is divided into two types as veterinary clinics and veterinary hospitals.
Region-wise, the market of veterinary ultrasound is analyzed into five main geographies such as Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among them, North America is expected to dominate the maximum market share due to the rising quantum of adoption of companion animals by individuals
Regional Analysis
Geographically, the market of veterinary ultrasound based on regions is divided into five major regions like Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa. Due to the growing adoption of companion animals, rising veterinary healthcare expenditure, the growing pet insurance industry, and the rising number of veterinary practices, Europe is accounting for the largest market share. Moreover, an increase in the prevalence of various animal diseases and internal injuries are the major factors driving the growth of the market. The American Society for the Prevention of Cruelty to Animals report states that nearly 6.5 million companion animals into US animal shelters nationwide annually and nearly 3.2 million of them are cats.
Competitive Landscape
The prominent key players in the veterinary ultrasound market outlook are the following:
Recent Developments
Report Overview:
This global veterinary ultrasound market research includes the Market Overview, COVID-19 analysis, Market Dynamics, Study Objectives, Segment Overview, Regional Analysis, Competitive Landscape, Recent developments, Segmentation Table, and FAQs. The market scenario includes the veterinary ultrasound machine market drivers, restraints, challenges, and opportunities. The veterinary ultrasound scanners market forecast segments are type, technology, application, vertical, and region.
Segmentation Table
The veterinary ultrasound market trends have been segmented globally based on the type, technology, application, vertical, and region.
By Type
2D ultrasound, 3D ultrasound, 4D ultrasound, and doppler ultrasound are the four types of the market.
By Technology
Digital imaging technology and analog imaging technology are the two types of technologies.
By Application
Cardiology, obstetrics, gynecology, oncology, orthopedics, etc are some of the applications of the market.
By Vertical
Veterinary clinics and veterinary hospitals are two verticals of the market.
By Region
Asia-Pacific, North America, Latin America, and the rest of the world are the four main geographies included in the veterinary ultrasound market.
Report Attribute/Metric | Details |
Market Size | 2030: USD 830 Million |
CAGR | 5.70% (2023-2030) |
Base Year | 2022 |
Forecast Period | 2023-2030 |
Historical Data | 2021 |
Forecast Units | Value (USD Million) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Animal Type, Type, Product Type, Therapeutic Area, Imaging Technology, End User and Region |
Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
Key Vendors | 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 |
Key Market Opportunities | joint ventures, strategic alliances, mergers and acquisitions, new product developments along with research and developments |
Key Market Drivers | Increasing population of animals Increase in the money invested to treat pets and thus |
Veterinary Ultrasound Market is projected to grow at a 5.70%CAGR between 2023-2030.
Veterinary Ultrasound Market is predicted to touch USD 830 Million by 2030.
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.
Key Questions Answered
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