Veterinary Ultrasound Device Market size
Veterinary Ultrasound Tools Market size is anticipated to reach USD 306.3 million in 2022 and exhibit around 6% CAGR between 2023 and 2032. Rising acceptance of companion animals and increased frequency of animal diseases will support the expansion of the worldwide market.
To get key market trends
Second most often used method in veterinary medicine for the diagnosis of different disorders is veterinary ultrasonic testing. It uses high-frequency ultrasonic waves to generate pictures of body structures depending on patterns of echo reflected from the damaged tissues or organs. Disease in many animals including dogs, cats, horses, cattle, and others is diagnosed using veterinary ultrasonic instruments. Examining pregnancy monitoring, kid health, and ultrasonic gadgets helps one.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Veterinary Ultrasound Device Market Size in 2022 | USD 305.3 Million |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 6% |
| 2032 Value Projection | USD 546.6 Million |
| Historical Data for | 2018 to 2022 |
| No. of Pages | 230 |
| Tables, Charts & Figures | 400 |
| Segments covered | Type, Product, Technology, Animal type, Application, End-user |
| Growth Drivers |
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| Pitfalls & Challenges |
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What are the growth opportunities in this market?
Covid-19 Impact
The lockdown and travel restrictions enforced by the government all around the world hampered the worldwide ultrasound device industry during COVID-19. This limited the visits to the veterinary clinics to only severe animal cases. Later, when COVID cases dropped, the market grew really rapidly. Apart from this, the number of pet owners grew significantly throughout the epidemic, which helped this industry to flourish. Growing numbers of people owned pets throughout various nations raised awareness of animal welfare.
Veterinary Ultrasound Device Market Trends
The need for ultrasonic devices worldwide is driven by the increased frequency of animal ailments and the increasing number of insured pets. In animals like dogs and cats, obesity and aging mostly lead to cardiac disorders. Examining myocardial infarction and blood flow in the heart depends on ultrasonic instruments. It finds uses in animal diagnostics of several cancer, orthopedic, and other gastrointestinal illnesses.
Pet owners are insuring their animals since growing knowledge of animal health is driving change in behavior. Pet owners are insuring their animals to run across problems with hospitalization expenses, diagnostic prices, costly veterinary treatments, and prescription expenses. Rising animal health spending will support the veterinary ultrasonic equipment market. The growing worldwide number of veterinary practitioners raises demand for ultrasonic instruments in their respective environments of treatment. The technical development and digitalization aid to explain the expansion of this industry since they shorten the diagnosis time and enable speedier treatment options.
Veterinary Ultrasound Device Market Analysis
Learn more about the key segments shaping this market
Based on type, the market is subdivided into 2D ultrasound, doppler ultrasound, and 3D/4D ultrasound. In 2022, 2D ultrasound segment accounted for largest market share in global market. The 2D ultrasound devices are most preferable type of ultrasound device useful in diagnosis of various diseases as well as is commonly used for pregnancy examination. During the forecast timeline, 3D/4D ultrasound segment is expected to grow at highest CAGR.
Based on product, the veterinary ultrasound device market is classified into cart-based ultrasound scanners and portable ultrasound scanners. The cart-based ultrasound scanner segment had the highest revenue share in 2022. The factors driving the market for this segment are the increasing number of veterinary practitioners and the accuracy of disease diagnosis. During the forecast period, the portable ultrasound scanner segment is projected to grow at a faster rate because of the ease of carrying it out of clinics as it is small in size.
Based on technology, the market is subdivided into digital imaging and contrast imaging. In 2022, the digital imaging segment accounted for the largest revenue share. Owing to the technological advancements, there are fewer chances of errors and more accurate images, which has driven the growth of this market. In the coming years, from 2023 to 2032, the contrast imaging segment is expected to grow at the highest CAGR.
Learn more about the key segments shaping this market
Based on animal type, the veterinary ultrasound device market is classified into small animals, large animals, and other animals. The small animals segment held largest revenue share in 2022 and is anticipated to witness tremendous growth during the forecast period. The lucrative growth of this segment is expected due to the growing number of animal adoption, increasing animal healthcare expenditures, and awareness of animal health.
Based on applications, the veterinary ultrasound device market is subdivided into obstetrics/gynecology, cardiology, orthopedics, oncology, and other applications. The obstetrics/gynecology segment has covered the majority of industry share in 2022. Cardiology segment held the second largest market share. Obstetrics/gynecology is anticipated to witness highest CAGR in given timeline.
Based on end-user, the veterinary ultrasound device market is segmented into veterinary clinics and veterinary hospitals and academic institutes. The veterinary clinics segment accounted for the largest market share in 2022 and is projected to grow at highest CAGR during the forecast period. The increasing prevalence of animal diseases and skilled veterinary practitioners are the major factors accelerating the demand for veterinary ultrasonic devices.
Looking for region specific data?
North America holds the highest revenue in veterinary ultrasound device market, owing to an increased number of veterinary professionals, improved healthcare infrastructure, availability of pet insurance, rising number of companion animals and increased healthcare expenditure. During the forecast period, it is expected that Asia Pacific will grow at highest CAGR because this region has the highest number of domesticated animals, is increasing animal adoption, and focuses on animal health.
Veterinary Ultrasound Device Market Share
The key players in veterinary ultrasound device market are
- GE Healthcare
- Esaote SpA
- Samsung Electronics Co., Ltd.
- IMV Imaging
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
- Sonostar Technologies Co., Ltd.
- Siemens Healthineers
- FUJIFILM Sonosite Inc.
- Heska Corporation
- BMV Technology Co., Ltd.
- Avante Animal Health
- Diagnostic Imaging Systems, Inc.
These companies are implementing several strategies such as collaborations, acquisitions, partnerships, mergers, and product launches, etc. to maintain a competitive edge in the industry.
Some of the recent industry developments
- Later in 2021, DRE Veterinary announced the partnership with Avante Health Solutions and adopted a new name, Avante Animal Health. They joined as the animal health division for Avante Health Solutions and launched new and innovative products and services.
The veterinary ultrasound device market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032 for the following segments
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By Type
- 2D ultrasound
- Doppler ultrasound
- 3D/4D ultrasound
By Product
- Cart-based ultrasound scanners
- Portable ultrasound scanners
By Technology
- Digital imaging
- Contrast imaging
By Animal Type
- Small animals
- Large animals
- Other animals
By Application
- Obstetrics/Gynecology
- Cardiology
- Orthopedics
- Oncology
- Other applications
By End-user
- Veterinary clinics
- Veterinary hospitals and academic institutes
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Switzerland
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- Rest of MEA
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