Veterinary Ultrasound Global Market Report 2022: Rising Demand for Pet Insurance and Increasing Pet Care Expenditure Drives Growth

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Global Veterinary Ultrasound Market

Global Veterinary Ultrasound Market
Global Veterinary Ultrasound Market

Dublin, Oct. 03, 2022 (GLOBE NEWSWIRE) -- The "Veterinary Ultrasound Market by Type (2D, 3D/4D, Doppler), Product (Portable Scanners), Technology (Contrast, Digital), Animal Type (Small, Large), Application (Gynecology, Cardiology, Orthopedics), End User (Clinics, Hospitals) - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

Veterinary ultrasound systems are used for pregnancy detection, disease monitoring, and general imaging in animals. These devices are used by veterinarians in hospitals, clinics, and research labs for the detection of disorders in various animal species.

The global veterinary ultrasound market is projected to reach USD 449 million by 2027 from USD 334 million in 2022, at a CAGR of 6.1% during the forecast period. Growth in this market is largely driven by the commoditization of the pet health insurance industry and the availability of more comprehensive pet insurance products, and the growing animal healthcare expenditure is expected to increase the number of vet visits by pet owners, contributing to the growth of the overall veterinary health market. In this report, the veterinary ultrasound market has been segmented on the basis of product, type, technology, application, animal type, end user, and region.

The 2D ultrasound segment is the highest growing segment of the veterinary ultrasound market.

On the basis of type, the veterinary ultrasound market is segmented into 2D ultrasound, 3D/4D ultrasound, and Doppler ultrasound. In 2021, the 2D ultrasound segment is the highest growing segment the veterinary ultrasound market which can be attributed to the widespread adoption of 2D ultrasound in veterinary clinics, owing to its comparatively lower cost. However, the introduction of advanced technologies such as 3D/4D and Doppler have restrained the demand for 2D ultrasound. This is because the image quality offered by these new technologies is better than the image quality of 2D ultrasound.

The cart-based ultrasound scanners segment accounted for the largest share of the veterinary ultrasound market

Based on product, the veterinary ultrasound market is segmented into cart-based and portable ultrasound scanners. In 2021, the cart-based ultrasound scanners segment accounted for the largest share of the veterinary ultrasound market. However, the portable ultrasound scanners segment is projected to witness a higher growth rate during the forecast period due to the wide applications of these scanners in obstetrics, gynecology, and orthopedics.

The digital imaging segment accounted for the largest share of the veterinary ultrasound market

Based on technology, the veterinary ultrasound market is segmented into digital and contrast imaging technologies. In 2021, the digital imaging segment accounted for the largest share of the veterinary ultrasound market. The large share of this segment is primarily attributed to the cost-effectiveness of digital imaging technology over contrast imaging. Moreover, this technology provides workflow benefits to hospitals and radiology departments, stores images on a centralized hard drive, and improves efficiency by allowing radiologists to review and report patient studies in a digital format. These advantages are also expected to support market growth.

North America accounted for the largest share of the veterinary ultrasound market in 2021

The veterinary ultrasound market is segmented into five major regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. North America accounted for the largest share of the veterinary ultrasound market in 2021. The large share of North America can be attributed to the well-established animal health industry, the high adoption of companion animals, the growing expenditure on animal health, increasing pet adoption, and the rising awareness about animal health in the region.

Market Dynamics

Drivers

  • Growing Companion Animal Population

  • Rising Demand for Pet Insurance and Increasing Pet Care Expenditure

  • Growing Prevalence of Animal Diseases

  • Increasing Veterinary Practitioners in Developed Economies

Restraints

  • High Cost of Instruments and Procedures

Opportunities

  • Increasing Untapped Emerging Markets

Challenges

  • Low Animal Health Awareness in Developing Countries

  • Shortage of Trained Professionals

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Industry Insights

7 Veterinary Ultrasound Market, by Type

8 Veterinary Ultrasound Market, by Product

9 Veterinary Ultrasound Market, by Technology

10 Veterinary Ultrasound Market, by Animal Type

11 Veterinary Ultrasound Market, by Application

12 Veterinary Ultrasound Market, by End-user

13 Veterinary Ultrasound Market, by Region

14 Competitive Landscape

15 Company Profiles

16 Appendix

Companies Mentioned

  • Bmv Technology Co. Ltd.

  • Clarius Mobile Health

  • Diagnostic Imaging Systems Inc.

  • Draminski S.A.

  • E.I. Medical Imaging

  • Edan Instruments, Inc.

  • Esaote Spa

  • Fujifilm Holdings Corporation

  • GE Healthcare

  • Heska Corporation

  • Imv Imaging

  • Interson Corporation

  • Lepu Medical Technology

  • Promed Technology Co. Ltd.

  • Reproscan

  • Samsung Electronics Co. Ltd.

  • Scintica Instrumentation, Inc.

  • Shantou Institute of Ultrasonic Instruments Co. Ltd.

  • Shenzhen Mindray Bio-Medical Electronics Co. Ltd.

  • Shenzhen Ricso Technology Co. Ltd.

  • Siemens Healthineers

  • Sonoscape Medical Corp.

  • Sound

  • Xuzhou Kaixin Electronic Instrument Co. Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/n0avxs

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