Veterinary Ultrasound Market 2022 - Market Size & Forecast, Industry Trends, Manufacturers Analysis, & Opportunities 2030

The global veterinary ultrasound market is estimated to expand at a compounded annual growth rate (CAGR) of 6.8% during the forecast period of 2022-2030.

Veterinary ultrasound involves the usage of ultrasonic devices to create images of internal body structures of animals for proper identification and detection of organs, their status, and appearance. Using ultrasonic sound waves in the frequency range of 1.5–15 megahertz (MHz), these devices produce images of internal body structures based on echo patterns reflected from the targeted tissues and organs. The primary aim of this process is to enhance veterinary diagnosis and therapeutic outcomes by searching for any deformities such as tumors in the abdomen, heart, or chest of animals.

Veterinary ultrasound devices are risk and pain-free and are also usually quick, and, in most cases, require no specific preparation.

Growth Drivers:

The primary factors driving the growth of this market include: the burgeoning demand for diagnosis of certain animal diseases using ultrasound devices; the increasing number of veterinary practitioners in matured countries; the rising awareness regarding animal health care; the escalating number of technological advancements; the growing demand for pet insurance; the proliferating need for high-end livestock productivity enhancement, especially in mid and low-income economies; and the growing the availability of advanced medical facilities around the globe.

Additionally, the inclination towards pet companionship and ownership among people has risen tremendously in the recent years across the globe. As per a report, the number of pet dogs alone surged from 68.5 million in 2000 to around 84.0 million in 2014. This rise in inclination towards pet companionship results in an increased dependence on veterinary ultrasound technology to ensure the best health of these animals, which, in turn, is slated to enhance the overall pet healthcare expenditure and the global veterinary ultrasound market.

Moreover, the number of different types of diseases and internal injuries among companion and livestock animals, including blood in the abdomen, cysts, and cancer, is snowballing worldwide. Alongside, the global incidence of zoonotic diseases, also known as zoonoses, is also rapidly proliferating, which is becoming a cause of serious concern in the meat and dairy industry. All these factors are leading to an enhanced need and demand for early and effective diagnosis of these diseases and injuries. The growing need for advanced medical devices and tools for effective diagnosis and subsequent therapeutic outcome of these diseases and injuries is, thus, expected to fuel the global veterinary ultrasound market in the upcoming years.

Furthermore, other factors such as: the presence of untapped emerging markets in emerging countries; the enhancing standards of living of people coupled with their rising disposable incomes; the escalating developments in the pet insurance industry; the growing consumption of meat and dairy-based products, and the increasing number of accuracy standards set by Food & Drug Administration (FDA) and other similar bodies are expected to further create ample growth opportunities for the global veterinary ultrasound market in the next few years.

However, factors such as the high cost associated with instruments and procedures and the dearth of knowledge and awareness regarding animal health among people are expected to retrain the growth of the global veterinary ultrasound market to some extent during the forecast period.

Veterinary Ultrasound Market Segmentation:

By Type:

·         2D Ultrasound

·         3D/4D Ultrasound

·         Doppler Ultrasound

By Product:

·         Cart-based

·         Portable

By Technology:

·         Digital Imaging

·         Contrast Imaging

By Animal Type:

·         Small Companion Animals

·         Large Animals

By Application:

·         Obstetrics/Gynecology

·         Cardiology

·         Orthopedics

·         Others

By End User:

·         Veterinary Clinics

·         Veterinary Hospitals & Academic Institutes

·         Others

By Region:

·         North America

·         Europe

·         Asia Pacific

·         Latin America

·         Middle East and Africa

Based on type, the 2D ultrasound segment held the largest share of the global veterinary ultrasound market in 2021. The segment is expected to retain its position further and witness the highest growth in the market during the forecast period of 2022-2030. The high adoption of 2D ultrasound in veterinary clinics, due to its lower cost and applications in diagnosing heart defects, issues with kidneys, and other potential internal issues is the major factor attributable to the segment’s high growth.

Based on end user, the veterinary clinics segment dominated the global veterinary ultrasound market in 2021. The segment is anticipated to retain its dominance further in the market during the forecast period due to the high usage of ultrasound in veterinary clinics and the increasing number of veterinary clinics worldwide.

Based on application, the orthopedics segment captured the largest share of the global veterinary ultrasound market in 2021. This trend is predicted to remain unchanged during the forecast period of 2022-2030. Factors such as the rising prevalence of bone injuries and the increasing cases of arthritis and other diseases are primarily attributed to the large share of this particular segment.

Based on animal type, the small companion animals segment acquired the largest share of the global veterinary ultrasound market in 2021. The segment’s position is improbable to change during the forecast period. Factors such as proliferating adoption rate of companion animals, especially dogs, and cats, and the development of breeds needing high care are primarily driving the growth of this segment.

Regional Outlook:

The North American region held the most commanding position in the global veterinary ultrasound market in 2021. The region is expected to maintain its lead further in the market during the forecast period owing to the burgeoning incidence of animal diseases and internal injuries; the rising adoption of pets; the surging awareness regarding animal health and animal welfare; the presence of a large number of veterinary hospitals and clinics; the increasing launching of technologically-advanced devices by market players; the growing demand for preventive treatments and care facilities for companion animals; the soaring per capita animal healthcare expenditure; and the escalating investments by government and companies in R&D to identify the causes and treatments of animal cancers in the region. The U.S. and Canada stand as the major contributors to the growth of the market in the region.

The European region accounted for the second-largest share of the global veterinary ultrasound market in 2021. The region is estimated to witness substantial growth in the market during the forecast period on account of the easy availability of advanced pet healthcare facilities and the spiraling rate of pet adoption in the region.

The Asia Pacific region is poised to emerge as the fastest-growing regional market for veterinary ultrasound during the forecast period. Factors ascribed to the growth of the market in the region include the growing pet adoption, the soaring awareness regarding animal health; the surging livestock population; the rising per capita animal health expenditure, and the increasing number of animal welfare programs in the region. India and China are the major contributors to the growth of the market in the region.

Key Companies in Veterinary Ultrasound Market:

·         Siemens Healthineers

·         Diagnostic Imaging Systems Inc.

·         IMV Imaging

·         Shenzhen Ricso Technology Co. Ltd.

·         Heska Corporation

·         Clarius Mobile Health

·         GE Healthcare

·         Esaote SpA

·         FUJIFILM Holdings Corporation

·         Shenzhen Mindray Bio-medical Electronics Co. Ltd.

·         BMV Technology Co. Ltd.

·         Promed Technology Co. Ltd.

·         Interson Corporation

·         Scintica Instrumentation Inc.

·         Leltek Inc.

·         Lepu Medical Technology

·         Edan Instruments Inc.

·         ReproScan

·         Other Players