Veterinary Ultrasound Market Size & Growth Analysis to 2030

The global veterinary ultrasound market size was valued at around USD 300 million in 2020 and expected to witness a significant CAGR of over 7% during the forecast period 2021 to 2027. The increasing adoption of pets among consumers coupled with the growing expenditure on pet care is a major factor to drive the market growth. As per the latest information shared by the American Society for the Prevention of Cruelty to Animals (ASPCA), about 6.3 million companion animals enter the U.S. each year across the country. Of those, around 3.1 million of them are dogs and 3.2 million are cats. Furthermore, the increasing demand for pet insurance, the growing number of veterinary doctors in developed economies, and the growing spending on pet care are further expected to boost the market growth.

Market Drivers:

Increasing Pet Ownership: The rising trend of pet ownership, along with growing awareness about animal healthcare, is a significant driver for the veterinary ultrasound market. Pet owners are increasingly seeking advanced diagnostic procedures for their animals, including ultrasound examinations, to ensure early detection and better management of veterinary conditions.

Advancements in Technology: Technological advancements in veterinary ultrasound devices have greatly enhanced their capabilities and usability. Portable and handheld ultrasound devices have become more accessible and user-friendly, allowing veterinarians to perform on-site examinations and provide immediate diagnoses. The development of advanced imaging technologies, such as 3D and 4D ultrasound, has also expanded the diagnostic capabilities of veterinary ultrasound.

Growing Demand for Non-Invasive Diagnostics: Ultrasound imaging is a non-invasive diagnostic modality that enables veterinarians to visualize internal organs and tissues without the need for invasive procedures. This factor has contributed to the growing demand for veterinary ultrasound, as it allows for accurate and safe diagnosis of various conditions, including abdominal diseases, cardiac abnormalities, musculoskeletal disorders, and reproductive health issues.

Increasing Veterinary Specialization: The field of veterinary medicine has witnessed a growing trend of specialization in different animal healthcare areas. Veterinary specialists, including radiologists and cardiologists, rely heavily on advanced imaging techniques, including ultrasound, to provide specialized care. This has fueled the demand for veterinary ultrasound equipment in specialized veterinary clinics and hospitals.

Rising Awareness about Animal Health: There has been an increased emphasis on animal health and wellness, leading to a higher demand for preventive and diagnostic veterinary services. Pet owners and animal caregivers are increasingly seeking early detection and management of diseases, and ultrasound imaging plays a vital role in achieving accurate diagnoses and treatment planning.

Veterinary Practice Consolidation: The veterinary industry is experiencing a trend of practice consolidation, with larger veterinary clinics and hospitals emerging. These consolidated practices often invest in advanced medical equipment, including ultrasound machines, to provide comprehensive veterinary services under one roof. This trend has led to an increased adoption of veterinary ultrasound devices.

Government Initiatives and Regulations: Government initiatives and regulations aimed at improving animal healthcare standards and ensuring the safety and well-being of animals also play a role in driving the veterinary ultrasound market. Regulatory bodies and associations often encourage the use of advanced diagnostic tools, including ultrasound, to ensure better animal healthcare outcomes.

Research and Development: Ongoing research and development activities in the field of veterinary ultrasound contribute to the market growth. Manufacturers are continuously investing in improving the imaging quality, portability, ease of use, and functionality of veterinary ultrasound devices, further driving their adoption in veterinary practices.

Market Snapshot:

Market Insights:

The global veterinary ultrasound market is bifurcated into type, animal type, imaging type, technology, application, end-use, and geography. On the basis of imaging type, the market is further segmented into doppler imaging, 2D ultrasound imaging, and 3D & 4D ultrasound imaging. The 2D ultrasound imaging segment is expected to grow at the highest growth rate over the forecast period. The increasing adoption of the 2D ultrasound by veterinary clinics across the globe is a major factor to drive the segment growth. Furthermore, the rising prevalence of pet-related disorders and the low cost of the product compared with others are further expected to fuel the segment growth over the forecast period.

On the basis of animal type, the market is segmented into small and large animals. The small animal segment dominated the global veterinary ultrasound market in 2020 and is expected to hold the largest revenue share of around two-third of the market by the end of the analysis period. Dogs, cats, rabbits, birds, and others are considered small animals. The widespread adoption of dogs and cats around the globe and the rising prevalence of dog-related disorders are some of the major factors to drive the segment growth. Furthermore, the rising prevalence of cancer and heart-related disorders in dogs and cats is further expected to drive the segment growth.

To know more about the study, request a report sample

The veterinary ultrasound comprehensive study analyzes industry trends, market size, competitive analysis, and market forecast – 2021 to 2027. Research Corridor report provides detailed premium insight into the global market and reveals the potential revenue streams, commercial prospects, market drivers, challenges, opportunities, issues, and events affecting the industry. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market and expert opinion obtained from interviews with industry executives and experts from prominent companies.

The veterinary ultrasound market research report presents the analysis of each segment from 2018 to 2027 considering 2020 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2021 to 2027.

Historical & Forecast Period

• 2018-19 – Historical Year
• 2020 – Base Year
• 2021-2027 – Forecast Period

Market Segmentation:

By Type:

• Handheld Ultrasound Scanners
• Cart-based Ultrasound Scanners

By Animal Type:

• Small Animals
• Large Animals

By Imaging Type:

• Doppler Imaging
• 2D Ultrasound Imaging
• 3D & 4D Ultrasound Imaging

By Technology:

• Contrast Imaging
• Digital Imaging
• Microstream

By Application:

• Cardiology
• Orthopedics
• Obstetrics & Gynecology
• Oncology
• Others

By End-Use:

• Veterinary Hospitals & Clinics
• Academic & Research Centers
• Laboratories
• Point-of-care (POC) Facilities
• Others

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Geographic Coverage:

Geographically, North America dominated the global veterinary ultrasound market in 2020 and accounted to hold the largest revenue share of around one-third of the global market. The high disposable income and the increasing adoption rate of pets are some of the major factors to drive the market growth in the region. Furthermore, the rising awareness about pet health, increasing expenditure in pet care, and the growing demand for pet insurance are further anticipated to fuel the market growth in North America. On the other hand, the Asia Pacific region is expected to grow at the fastest growth rate due to the growing livestock population and increasing adoption of pets in the region.

Competitive Assessment:

Some of the major market players operating in the global veterinary ultrasound market are GE Healthcare, Esaote SpA, Siemens Healthineers, Shenzhen Mindray Bio-medical Electronics Co., Ltd., and Canon Inc. Companies are exploring markets by expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

Key Companies:

• GE Healthcare
• Esaote SpA
• Siemens Healthineers
• Shenzhen Mindray Bio-medical Electronics Co., Ltd.
• Canon Inc.
• Fujifilm Holdings Corporation
• Carestream Health, Inc.
• Heska Corporation
• Diagnostic Imaging Systems, Inc.
• IDEXX Laboratories, Inc.

Key Questions Answered by Veterinary Ultrasound Market Report

• Global veterinary ultrasound market forecasts from 2021-2027
• Regional veterinary ultrasound market forecasts from 2021-2027 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
• Country-level forecasts from 2021-2027 covering 15 major countries from the regions as mentioned above
• Veterinary ultrasound submarket forecasts from 2021-2027 cover the market by type, by animal type, by imaging type, by technology, by application, by end-use, and geography
• Various industry models such as SWOT analysis, Value Chain Analysis about veterinary ultrasound market
• Analysis of the key factors driving and restraining the growth of the global, regional, and country-level veterinary ultrasound markets from 2021-2027
• Competitive Landscape and market positioning of top 10 players operating in the veterinary ultrasound market