DUBLIN – (BUSINESS WIRE) – November 26, 2021–
The “veterinary ultrasound market by type (2D, 3D-4D, Doppler), product (portable), technology (digital, contrast imaging), animal type (small, large), application (obstetrics, cardiology and orthopedics), End User (Veterinary Clinics) – The Global Forecast to 2026 report “has been added to the offering of ResearchAndMarkets.com.
The global veterinary ultrasound market is expected to reach USD 456 million by 2026, from USD 301 million in 2021, at a CAGR of 7% during the forecast period.
The growth of this market is largely driven by the growing population of pets, an increasing number of veterinarians in developed countries, advancements in technology and the growing demand for pet insurance and increasing spending on care. for pets. However, the high cost of the 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 the veterinary ultrasound market in 2020. Factors such as the widespread adoption of 2D ultrasound in veterinary clinics, due to its comparatively lower cost.
Veterinary clinics are the largest end-user segment in the veterinary ultrasound market in 2020
On the basis of the end user, the veterinary ultrasound market is for veterinary clinics, veterinary hospitals and academic institutes as well as other end users. In 2020, the veterinary clinic 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 world.
ACPA will experience the highest growth rate during the forecast period
The Asia-Pacific market is expected to grow at the highest CAGR during the forecast period. The growth of the market in the APAC region is mainly due to growing animal population, increasing adoption of pets, increasing awareness of animal health, gradual urbanization and increasing increase in animal health expenditure per capita. Emerging markets offer significant and attractive growth opportunities for the veterinary ultrasound market. The growth of veterinary clinics and hospitals in these countries has increased the demand for the veterinary ultrasound market.
The report analyzes the veterinary ultrasound market and aims to estimate the market size and future growth potential of various market segments, based on product, type, technology, application, type of animal, end user and region. The report also provides a competitive analysis of the major players operating in this market, along with their company profiles, product offerings, recent developments, and key market strategies.
The major players operating in the veterinary ultrasound market are GE Healthcare (US), Esaote SpA (Italy), Shenzhen Mindray Bio-medical Electronics Co., Ltd. (China), Siemens Healthineers (Germany), FUJIFILM Holdings Corporation (Japan), Heska Corporation (United States), Samsung Medison Co., Ltd. (South Korea) and Diagnostic Imaging Systems, Inc. (United States).
- Growing pet population
- Growing demand for pet insurance and rising pet care spending
- Growing prevalence of animal diseases
- Growing number of veterinary practitioners in developed economies
- High cost of instruments and procedures
- Emerging untapped markets
- Low awareness of animal health in developing countries
- Shortage of qualified professionals
Case study analysis
- Butterfly Network & American Veterinary Group
- Ultrasound that saves life
- GE Healthcare
- Esaote SpA
- Shenzhen Mindray Bio-Medical Electronics Co. Ltd.
- Siemens Healthineers
- Fujifilm Holdings Corporation
- Heska Company
- Samsung Medison Co. Ltd.
- Diagnostic Imaging Systems, Inc.
- IMV imaging
- Shenzhen Ricso Technology Co. Ltd.
- Draminski SA
- Shantou Institute of Ultrasonic Instruments Co. Ltd.
- Mobile Health Clarius
- Sonoscape Medical Corp.
- EI medical imaging
- Bmv Technology Co. Ltd.
- Edan Instruments, Inc.
- Xuzhou Kaixin Electronic Instrument Co. Ltd.
- Interson Company
- Scintica Instrumentation, Inc.
- Leltek, Inc.
- Lepu Medical Technology
- Promed Technology Co. Ltd.
For more information on this report, visit https://www.researchandmarkets.com/r/my7v6e
See the source version on businesswire.com: https://www.businesswire.com/news/home/20211126005409/en/
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INDUSTRY KEYWORD: VETERINARY HEALTH
SOURCE: Research and markets
Copyright Business Wire 2021.
PUB: 11/26/2021 07:28 / DISC: 11/26/2021 07:28
Copyright Business Wire 2021.