Market Research Future (MRFR)’s latest report reveals that the global veterinary ultrasound market is set to expand saliently striking a CAGR of 6.10% during the forecast period 2018 to 2023. The market is estimated to expand from USD 164.42 Mn in 2017 to USD 234.55 Mn by 2023-end. The accuracy standards set by Food & Drug Administration (FDA) and other similar bodies have opened avenues of innovations in the market. This, in turn, is forecasted to have a positive influence on the veterinary ultrasound market proliferation over the next couple of years. However, lack of knowledge and awareness about animal health remains an impediment to the market growth.
The inclination towards pet companionship coupled with increased spending on pet healthcare has paved the way for veterinary ultrasound market expansion. According to the Oasmia Pharmaceutical AB in the U.S., the number of pets (dogs) increased from 68 million in 2000 to 83.3 million in 2014. Increased awareness about animal health care and the availability of advanced medical facilities are the key factors driving the growth of the market.
The rising prevalence of zoonotic diseases, also known as zoonoses, is the key area of focus in the meat and dairy industry. According to the Center for Disease Control and Prevention, around 75% of infectious diseases affecting human beings originate from animals. It is projected to catapult the veterinary ultrasound market on an upward trajectory. Additionally, the developments made in the pet insurance industry is anticipated to boost the market for veterinary ultrasound.
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Veterinary Ultrasound Market – Top Players
• Fujifilm SonoSite Inc.
• GE Healthcare
• Hitachi, Ltd
• Chison
• Xuzhou Kaixin Electronic Instrument Co., Ltd
• Samsung Medison Co. Ltd
• BCF Technology
• Esaote, Mindray
• Kaixin Electric
• SonoScape

Global Veterinary Ultrasound Market – Regional Analysis

North America represents the largest market for veterinary ultrasound market and is expected to reach USD 87.20 Million by the end of 2023 at a CAGR of 5.89% over the forecast period. High pet adoption rate coupled with growing awareness regarding animal health and welfare drives the market in North America. According to a survey conducted by the National Pet Owners, in 2017, around 68% of the families or households owned pets in the US. In addition, development of technically advanced devices, increasing trend of preventive care for animals and growing insurance coverage for animal treatment spurs the growth of the veterinary ultrasound market in North America.
Europe follows North America closely in the global veterinary ultrasound market. Availability of advanced treatment facilities and high expenditure on animal healthcare feeds the growth of the market in Europe. Furthermore, Raising awareness regarding animal welfare and high pet adoption rate also support the market growth in Europe. According to the European Pet Food Industry, in 2016, there were around 80 million households owning pets in Europe.

Global Veterinary Ultrasound Market – Segmentation


MRFR’s report offers a detailed segmental analysis of the market based on imaging technology, therapeutic area, product type, type, and animal type. By imaging technology, the market has been segmented into digital imaging technology, analog imaging technology, and contrast imaging technology. The digital imaging technology segment was valued at USD 100.73 Mn in 2017.
By therapeutic area, the veterinary ultrasound market is segmented into cardiology, neurology, oncology, orthopedics and traumatology, and others. Among these, the orthopedics and traumatology segment held the most significant share of the market in 2017. It is likely to retain its prominence over the next couple of years. The growth is attributable to the increasing incidence of bone injuries and growing prevalence of arthritis, lameness disease, and others. The segment is estimated to reach a valuation of USD 104.11 Mn by the end of 2023.
By product type, the global veterinary ultrasound market has been segmented into devices and software. The devices segment is further sub-segmented into portable/compact ultrasound scanners and cart-based ultrasound scanners.
By type, the market is segmented into 2D ultrasound imaging, 3D ultrasound, Doppler imaging, and others. Among these, the 2D ultrasound imaging segment presently accounts for the largest share of the market. The segment is expected to gain traction in the market owing to its applications in diagnosing heart defects, issues with kidneys, and other potential internal issues.
By animal type, the market has been segmented into small companion animals, large animals, and others. The small companion animals segment currently holds the largest share of the veterinary ultrasound market which accounts for 64.8% share. It is likely to exhibit positive growth over the forecast period owing to factors such as rising trend of pet ownership, increasing adoption rate of companion animals particularly dogs and cats, and the development of breeds needing high care.


Major TOC of Veterinary Ultrasound Market Research Report- Global Forecast till 2023

1 Introduction
2 Research Methodology
3 Market Dynamics
4 Market Factor Analysis
5 Global Veterinary Ultrasound Market, By Type
6 Global Veterinary Ultrasound Market, By Product Type
7 Global Veterinary Ultrasound, By Imaging Technology
8 Global Veterinary Ultrasound, By Therapeutic Area
9 Global Veterinary Ultrasound, By Region
7 Competitive Landscape
8 Company Profile
9 MRFR Conclusion
List of Tables
TABLE 1 PRIMARY INTERVIEWS
TABLE 2 GLOBAL VETERINARY ULTRASOUND MARKET, BY ANIMAL TYPE 2015–2023 (USD MILLION)
TABLE 3 GLOBAL VETERINARY ULTRASOUND MARKET FOR SMALL COMPANION ANIMALS, BY REGION 2015–2023 (USD MILLION)
TABLE 4 GLOBAL VETERINARY ULTRASOUND MARKET FOR LARGE ANIMALS, BY REGION 2015–2023 (USD MILLION)
TABLE 5 GLOBAL VETERINARY ULTRASOUND MARKET, BY TYPE 2015–2023 (USD MILLION)

List of Figures
FIGURE 1 TOP-DOWN & BOTTOM-UP APPROACHES
FIGURE 2 MARKET DYNAMICS: ANALYSIS OF THE GLOBAL VETERINARY ULTRASOUND MARKET
FIGURE 3 VALUE CHAIN: GLOBAL VETERINARY ULTRASOUND MARKET
FIGURE 4 PORTER’S FIVE FORCES MODEL: GLOBAL VETERINARY ULTRASOUND MARKET
FIGURE 5 GLOBAL VETERINARY ULTRASOUND MARKET, BY ANIMAL TYPE 2017 & 2023 (USD MILLION)


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