The global veterinary ultrasound market is projected to reach USD 456 million by 2026 from USD 301 million in 2021, at a CAGR of 7.0% during the forecast period. Growth in this market is largely driven by the growing companion animal population, a growing number of veterinary practitioners in developed countries, technological advancements, and the rising demand for pet insurance and increasing pet care expenditure. However, the high cost of instruments and procedures is expected to restrain the growth of this market during the forecast period.
“2D ultrasound was the largest and fastest-growing segment in the type of ultrasound market in 2020”
2D ultrasound accounted for the largest share of veterinary ultrasound market in 2020. Factors such as the widespread adoption of 2D ultrasound in veterinary clinics, owing to its comparatively lower cost.
“Veterinary Clinics is the largest end user segment in the veterinary ultrasound market in 2020”
Based on the end user, the veterinary ultrasound market is into veterinary clinics, veterinary hospitals & academic institutes, and other end users. In 2020, the veterinary clinics segment accounted for the largest share of the global veterinary ultrasound market. The large share of this segment can be attributed to the widespread adoption of ultrasound in veterinary clinics and the growing number of veterinary clinics across the globe.
“APAC to witness the highest growth rate during the forecast period.”
The Asia Pacific market is projected to grow at the highest CAGR during the forecast period. Market growth in the APAC region is mainly driven by the growing livestock population, increasing pet adoption, rising awareness about animal health, progressive urbanization, and growing per capita animal health expenditure. Emerging markets offer significant and attractive growth opportunities for veterinary ultrasound market. The growth of veterinary clinics & hospitals in these countries has increased the demand for veterinary ultrasound market.
The break-down of primary participants is as mentioned below:
- By Company Type - Tier 1: 55%, Tier 2: 30%, and Tier 3: 15%
- By Designation - C-level: 50%, Director-level: 35%, and Others: 15%
- By Region - North America: 48%, Europe: 32%, Asia Pacific: 15%, and Rest of the World: 5%.
Key players in the Veterinary Ultrasound Market
The key players operating in the veterinary ultrasound market include GE Healthcare (US), Esaote SpA (Italy), Shenzhen Mindray Bio-medical Electronics Co., Ltd. (China), Siemens Healthineers (Germany), FUJIFILM Holdings Corporation (Japan), Heska Corporation (US), Samsung Medison Co., Ltd. (South Korea), and Diagnostic Imaging Systems, Inc. (US).
The report analyzes the veterinary ultrasound market and aims at estimating the market size and future growth potential of various market segments, based on product, type, technology, application, animal type, end user, and region. The report also provides a competitive analysis of the key players operating in this market, along with their company profiles, product offerings, recent developments, and key market strategies.
Reasons To Buy the Report
This report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them garner a greater share of the market. Firms purchasing the report could use one or a combination of the below-mentioned strategies to strengthen their positions in the market.
This report provides insights on:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the Veterinary Ultrasound Market. The report analyzes this market by product, type, technology, application, animal type, end user, and region.
- Market Development: Comprehensive information on the lucrative emerging markets, product, type, technology, application, animal type, end user, and region
- Market Diversification: Exhaustive information about the product portfolios, growing geographies, recent developments, and investments in the veterinary ultrasound market
- Competitive Assessment: In-depth assessment of market shares, growth strategies, product offerings, and capabilities of the leading players in the veterinary ultrasound market