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Veterinary Ultrasound Market Forecast Analysis & Share
Home / Report Store / Health Sciences and Bio Innovation / Veterinary Ultrasound Market Research Report 2024

Veterinary Ultrasound Market Research Report 2024

Veterinary Ultrasound Market Industry Forecast 2023-2030: Size, Share, and Growth Analysis of the Market by Type (2D, 3D/4D, Doppler), Product (Portable Scanners), Technology (Digital, Contrast), Animal Type (Small, Large), Application (Obstetrics, Cardiology, Orthopaedic), End User (Clinics, Hospitals, Academic Institutes), and By Region

Published date: Sep 2024 Report ID: 174 Number of Pages: 240
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Veterinary Ultrasound Market Synopsis

The Global Veterinary Ultrasound Market was worth USD 396.4 Million in 2023. As such, the forecast is that the market is expected to reach USD 658.42 Million by 2032 with a CAGR of 5.8% from 2024 to 2032.

  • Technology developments in the industry, growth accompanying spending on veterinary imaging training along cultivation of diagnostic vet cases load annually form the key driving forces behind the market expansion. Pet ownership rates and adoption of pet insurance are expected to soar significantly, propelling growth in the animal ultrasound market over time. Veterinary Ultrasound technology is used for imaging animals which in turn can be employed for disease surveillance, pregnancy determinations as well as general imagining. These tools are utilized by veterinarians within clinical environments, hospitals, and research facilities in the diagnosis of a wide range of animal categories. In addition, new technological innovations in the market and the growth of veterinary professionals will drive the expansion of this industry.
  • In addition, the growth of the animal ultrasound market is likely to be influenced by constant technological innovations being undertaken by major competitors and the incremental introduction of superior platforms with newer generation technology into the markets. Additionally, technological innovations help develop ultrasound systems that are more accurate as well as efficient through substitution of the point scanning by vertigo. Take, for instance, the launch of Butterfly iQ+ Vet by Butterfly Network Inc. in October 2021 which is a handheld ultrasound scanner that benefits from improved imaging technology tool improved procedural guidance and hardware progressions increasing functionality application scenario availability.
  • Thus, implementation using new generation equipment to improve image quality would grow positively throughout the forecasted Hence, it is foreseen that the small animals subsegment will witness significant growth due to intensified interest in animal welfare and advancements made in veterinary imaging diagnosis.
  • Second to the top is ultrasonography in imaging modalities found in veterinary medicine. Using ultrasonic sound waves ranging in frequency from 1.5 to 15 megahertz (MHz) determined by the pattern of reflections reflected from tissues and organs admitting inspection, an image is produced depicting bodily structures The development in computer technology made the large-scale evolution of apparatus design and miniaturization decreased size transducers enabled intra-operative & intravascular applications.
  • However, advances in software functionalities have improved the ability to control and analyze data thereby increasing the content of information that can be pulled from single tests besides making remote diagnosis possible. It is now possible to put into practice ultrasound-guided interventional methods for therapy or diagnosis purposes. While many of these innovations were for the first time introduced by equipment manufacturers, they have unique uses in veterinary practice.
  • Today ultrasound is used for a wide range of applications from basic research and global disease detection to cattle population management. Moreover, it is used as a tool for diagnosis during normal clinical assignments on different species.

Top Key Players Involved Are:

"GE Healthcare (USA), Esaote SpA (Italy), Siemens Healthineers (Germany), Fujifilm Holdings Corporation (Japan), Samsung Medison Co., Ltd. (South Korea), Mindray Medical International Limited (China), Hitachi, Ltd. (Japan), Shenzhen Ricso Technology Co., Ltd. (China), BCF Technology Ltd. (UK), DRAMIŃSKI S.A. (Poland), SonoScape Medical Corporation (China), Shantou Institute of Ultrasonic Instruments Co., Ltd. (China), IMV Technologies (France), Sonostar Technologies Co., Limited (China), Sonosite (FUJIFILM SonoSite, Inc.) (USA), Clarius Mobile Health (Canada), Terason (USA), Echo Control Medical (Israel), Chison Medical Technologies Co., Ltd. (China), Shenzhen Well.D Medical Electronics Co., Ltd. (China)"

The Veterinary Ultrasound Market Trend Analysis

  • The veterinary ultrasound market is the increasing pet adoption and growing expenditure on animal healthcare. As more households adopt pets, particularly in urban areas, there is a rising demand for better diagnostic tools, including ultrasound technology, to ensure pet health and early disease detection. Additionally, the livestock industry is investing more in ultrasound technologies for reproductive management and disease diagnosis, further boosting market growth.
  • An emerging opportunity in the veterinary ultrasound market lies in technological advancements, such as the development of portable and handheld ultrasound devices. These innovations make it easier for veterinarians to diagnose animals on-site, especially in rural or large farm settings, where traditional stationary equipment may not be feasible. The increasing adoption of telemedicine in veterinary care further amplifies this opportunity, as it allows veterinarians to remotely assess and diagnose animals using real-time ultrasound images. This flexibility and convenience are expected to attract more veterinary professionals to adopt ultrasound technology, especially in regions where access to advanced healthcare is limited, thereby expanding the market scope.

Segmentation Analysis of the Veterinary Ultrasound Market

Veterinary Ultrasound Market is Segmented into Type, Product, Technology, Animal Type, Applications, End Users, and Region

By Animal Type, the Small Animal segment is expected to dominate the market during the forecast period.

  • Based on animal type, the Small Animal segment led as far as revenue share in 2021 and is expected to witness the fastest Downside Growth CAGR. It envisages strong growth of the market through heightened companion adoption and expenditure incurred on their care and wellness. Furthermore, the rising prevalence of cancer and cardiac diseases in dogs and cats as well as others are likely drivers responsible for market advancements. For example, cats are quite often found as semi-domesticated or tamed house pets because even to do the simplest self-cleaning activities they turn perfectly without any pet training.
  • According to the American Pet Products Association in 2019, young generations mainly millennials will add up more numbers of households with cats that they own by 45.3 million such houses by the year 2021 within the united States. On the other hand, the growth of the industry is also attributed to increasing pet insurance. As of 2021, according to the NAPHIA estimates stand at around 4.41 million insured pets in North America Pet Insurance Association revealed that figures for frequencies & types of Claims pregnancies and cancer are elaborated below been explained with pregnancy rates by type- so it is very complex therapeutic area.

By End Use, the hospitals and clinics segment held the largest share.

  • The sector with the largest revenue share in 2022 was that of veterinary hospitals and clinics as it captured more than 65%. It is expected that the increasing availability of numerous diagnostic alternatives in veterinary hospitals and clinics will help this segment grow. In addition, an improved pattern of technological developments in smart mobile applications that can work seamlessly for such owners and cloud-hosted information management systems is assumed to improve the success rate of this market. The use of these devices in veterinary clinics and hospitals is largely attributed to their accuracy and cost-effectiveness; factors that are projected to propel market growth.
  • Other end-uses are academic and research facilities, reference laboratories diagnostics laboratories as well as Point of Care (PoC) centers. The Triqui segment is forecasted to witness the highest growth rate during the analysis period. In addition to specialist consultation, reference laboratories conduct a wide range of diagnostic tests that guarantee accurate results. Predictably, the increased collaborative activities between market players and reference laboratories will aid in driving this segment's growth. A low market share leads to outsourcing, where end-users including academic and research institutions and point-of-care facilities must buy the services from reference laboratories, diagnostic labs as well as Veterinary hospitals.

Regional Analysis of the Veterinary Ultrasound Market

  • The market share of the animal ultrasonography industry in North America was more than thirty-seven percent. This is because of animals’ humanization, technologically advanced veterinary hospitals, and pets being expensive. In the United States, a total of USD 123.6 billion was spent on companion animals according to APPA while conducting the National Pet Owners Survey from July 2021 to June 9th in yearly business activity figures with accurate adjustment where needed for comparisons over specified periods (APOP).
  • Therefore, the amount of money spent on veterinary care and products summed up to 34. In addition, innovations in veterinary ultrasound procedures are improved with the use of complex software and devices incorporated into vaccine equipment; there is a high level of trusting hospital infrastructure in this region that gives room for market growth.
  • In the predicting period, Asia-Pacific is projected to have a CAGR of 7.26 percent among other regions under study which has its highest expansion during this time. Pet care spending in the area has increased over a series of factors such as growth and development projects, including increased capital developments within the region due to increased wages. Moreover, fast pet care developments in countries such as China, India South Korea, and Japan will also contribute to the growth of the market.

Top Key Players Covered Veterinary Ultrasound Market

  • GE Healthcare (USA)
  • Esaote SpA (Italy)
  • Siemens Healthineers (Germany)
  • Fujifilm Holdings Corporation (Japan)
  • Samsung Medison Co., Ltd. (South Korea)
  • Mindray Medical International Limited (China)
  • Hitachi, Ltd. (Japan)
  • Shenzhen Ricso Technology Co., Ltd. (China)
  • BCF Technology Ltd. (UK)
  • DRAMIŃSKI S.A. (Poland)
  • SonoScape Medical Corporation (China)
  • Shantou Institute of Ultrasonic Instruments Co., Ltd. (China)
  • IMV Technologies (France)
  • Sonostar Technologies Co., Limited (China)
  • Sonosite (FUJIFILM SonoSite, Inc.) (USA)
  • Clarius Mobile Health (Canada)
  • Terason (USA)
  • Echo Control Medical (Israel)
  • Chison Medical Technologies Co., Ltd. (China)
  • Shenzhen Well.D Medical Electronics Co., Ltd. (China)

Key Industry Developments in the Veterinary Ultrasound Market

  • In November 2023, an alliance was established between Advanced Veterinary Ultrasound and Draminski SA which is a manufacturer of POCUS solutions for the veterinary market; it supplies systems that are feature-loaded. Following the agreement, AVU has been entitled to promote the market and service the range of portable ultrasound systems also being manufactured by Draminski such as iScan2, i scan mini, and dimension in blue.
  • In particular, in August of 2023 Butterfly Network and GM Medical – an expert in the distribution of medical equipment began cooperation aiming at disseminating iQ+ Vet Veterinarians’ Community Finland Denmark Sweden Norway. Though the iQ+ Vet is the second generation of Butterfly’s veterinary ultrasound device, it shows more accurate images.

Veterinary Ultrasound Market

Base Year:

2023

Forecast Period:

2023-2030

Historical Data:

2016 to 2022

Market Size in 2023:

USD 396.4 Million

Forecast Period 2023-30 CAGR:

5.8 %

Market Size in 2032:

USD 658.42 Million

Segments Covered:

By Type

  • 2D Ultrasound
  • Doppler Ultrasound
  • 3D/4D Ultrasound

By Product

  • Cart-based
  • Portable

By Technology

  • Digital
  • Contrast

By Animal

  • Small Animals
  • Large Animals

By Application

  • Obstetrics/Gynecology
  • Cardiology
  • Orthopaedics

By End-Use

  • Veterinary Hospitals & Clinics
  • Academic Institutes
  • Others

By Region

  • North America (U.S., Canada, Mexico)
  • Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
  • Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
  • Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
  • Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
  • South America (Brazil, Argentina, Rest of SA)

Veterinary Ultrasound Market

Base Year:

2023

Forecast Period:

2023-2030

Historical Data:

2016 to 2022

Market Size in 2023:

USD 396.4 Million

Forecast Period 2023-30 CAGR:

5.8 %

Market Size in 2032:

USD 658.42 Million

Segments Covered:

By Type

  • 2D Ultrasound
  • Doppler Ultrasound
  • 3D/4D Ultrasound

By Product

  • Cart-based
  • Portable

By Technology

  • Digital
  • Contrast

By Animal

  • Small Animals
  • Large Animals

By Application

  • Obstetrics/Gynecology
  • Cardiology
  • Orthopaedics

By End-Use

  • Veterinary Hospitals & Clinics
  • Academic Institutes
  • Others

By Region

  • North America (U.S., Canada, Mexico)
  • Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
  • Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
  • Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
  • Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
  • South America (Brazil, Argentina, Rest of SA)

Key Market Drivers:

  • Rising Pet Ownership

Key Market Restraints:

  • Lack of Skilled Professionals

Key Opportunities:

  • Telemedicine Integration

Companies Covered in the report:

  • GE Healthcare (USA), Esaote SpA (Italy), Siemens Healthineers (Germany), Fujifilm Holdings Corporation (Japan), Samsung Medison Co., Ltd. (South Korea), Hitachi, Ltd. (Japan), And Other Major Players.

Chapter 1: Introduction

 1.1 Scope and Coverage



Chapter 2:Executive Summary



Chapter 3: Market Landscape

 3.1 Market Dynamics

  3.1.1 Drivers

  3.1.2 Restraints

  3.1.3 Opportunities

  3.1.4 Challenges

 3.2 Market Trend Analysis

 3.3 PESTLE Analysis

 3.4 Porter's Five Forces Analysis

 3.5 Industry Value Chain Analysis

 3.6 Ecosystem

 3.7 Regulatory Landscape

 3.8 Price Trend Analysis

 3.9 Patent Analysis

 3.10 Technology Evolution

 3.11 Investment Pockets

 3.12 Import-Export Analysis



Chapter 4: Veterinary Ultrasound Market by Type

 4.1 Veterinary Ultrasound Market Snapshot and Growth Engine

 4.2 Veterinary Ultrasound Market Overview

 4.3 2D

  4.3.1 Introduction and Market Overview

  4.3.2 Historic and Forecasted Market Size in

Frequently Asked Questions

What would be the forecast period in the Global Veterinary Ultrasound Market research report?

The forecast period in the Global Veterinary Ultrasound Market research report is 2024- 2032.

Who are the key players in the Global Veterinary Ultrasound Market?

GE Healthcare (USA), Esaote SpA (Italy), Siemens Healthineers (Germany), Fujifilm Holdings Corporation (Japan), Samsung Medison Co., Ltd. (South Korea), Mindray Medical International Limited (China), Hitachi, Ltd. (Japan), Shenzhen Ricso Technology Co., Ltd. (China), BCF Technology Ltd. (UK), DRAMIŃSKI S.A. (Poland), and Other Active Players.

What are the segments of the Global Veterinary Ultrasound Market?

Veterinary Ultrasound Market is Segmented into Type, Product, Technology, Animal Type, Applications, End Users, and Region. Type The market is categorized into (2D, 3D/4D, Doppler), Product the market is categorized into (Portable Scanners), Technology the market is categorized into (Digital, Contrast) Animal Type the market is categorized into (Small, Large), Application the market is categorized into (Obstetrics, Cardiology, Orthopedic) By End-user the market is categorized into (Clinics, Hospitals). By region, it is analyzed across North America (U.S.; Canada; Mexico), Eastern Europe (Bulgaria; The Czech Republic; Hungary; Poland; Romania; Rest of Eastern Europe), Western Europe (Germany; UK; France; Netherlands; Italy; Russia; Spain; Rest of Western Europe), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).

What is the Global Veterinary Ultrasound Market?

Technology developments in the industry, growth accompanying spending on veterinary imaging training along cultivation of diagnostic vet cases load annually to form the key driving forces behind the market expansion. Pet ownership rates and adoption of pet insurance are expected to soar significantly, propelling growth in the animal ultrasound market over time. Veterinary Ultrasound technology is used for imaging animals which in turn can be employed for disease surveillance, pregnancy determinations as well as general imagining.

How big is the Global Veterinary Ultrasound Market?

The Global Veterinary Ultrasound Market was worth USD 396.4 Million in 2023. As such, the forecast is that the market is expected to reach USD 658.42 Million by 2032 with a CAGR of 5.8% from 2024 to 2032.

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Report ID: 174

Published Date: 2024-09-18

Number of Pages: 240

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Akshay Patil