- The global veterinary ultrasound market size is projected to reach USD 448 million by 2025 from USD 338 million in 2020, at a CAGR of 5.8%.
The report "Animal/Veterinary Ultrasound Market by Type (2D, 3D/4D, Doppler), Technology, Product (Portable, Cart-based), Animal (Small Companion, Large), Application (Obstetrics, Orthopedics, Cardiology), End User, and Region - Global Forecast to 2025" The global veterinary ultrasound market size is projected to reach USD 448 million by 2025 from USD 338 million in 2020, at a CAGR of 5.8%.
Growth in the companion animal population, rising demand for pet insurance, increasing number of veterinary practitioners in developed economies and technological advancements are driving the growth of this market during the forecast period
By end user, the veterinary clinics segment accounted for the largest share of the animal/veterinary ultrasoundmarket in 2019
Based on end user, the market is segmented into veterinary clinics, veterinary hospitals & Academic Institutes, and other end users. In 2019, the veterinary clinics segment accounted for the largest share of the animal/veterinary ultrasound industry. Veterinary clinics are the first point of contact for animals which makes them a driving factor in this market.
By technology, the digital imaging technology segment accounted for the largest market share in 2019
Based on technology, the animal/veterinary ultrasound market is segmented into digital and contrast imaging. The digital imaging segment accounted for the largest market share in 2019. This segment is also projected to register the highest CAGR during the forecast period due to better imaging quality and cost effectiveness involved with this segment.
North America will continue to dominate the market during the forecast period
The market, by region, is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America accounted for the largest share of the animal/veterinary ultrasound industry in 2019. The growth of the North American market is attributed to the increasing adoption of companion animals, the growing pet insurance industry, rising veterinary healthcare expenditure, and the growing number of veterinary practices. In addition, a majority of players in the animal/veterinary ultrasound industry are based in the US.
GE Healthcare (US), Heska Corporation (US), Siemens AG (Germany), FUJIFILM Holdings Corporation (Japan), Esaote SpA (OTCPK:ITALY), Mindray Medical International, Ltd. (CHINA), Samsung Medison Co., Ltd.( Korea), Diagnostic Imaging Systems Inc. (US), IMV imaging (Scotland), Shenzhen Ricso Technology Co., Ltd. (CHINA), DRAMIÑSKI S.A. (Poland), Shantou Institute of Ultrasonic Instruments Co., Ltd. (SIUI), Clarius Mobile Health (US) and SonoScape Medical Corporation (CHINA)
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