(PharmaNewsWire.Com, January 31, 2020 ) 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
The Animal/Veterinary Ultrasound Market is projected to reach USD 448 million by 2025 from USD 338 million in 2020, at a CAGR of 5.8%
+ Market Dynamics
+ Drivers
+ Growing Companion Animal Population
+ Growing Number of Veterinary Practitioners in Developed Economies
+ Technological Advancements
+ Rising Demand for Pet Insurance and Increasing Pet Care Expenditure
“The 2D ultrasound segment dominates the animal/veterinary ultrasoundindustry, by type of ultrasound scanners“
Based on the type of scanners, the 2D segment accounted for the largest share of the animal/veterinary ultrasoundmarket in 2019. The large share of this segment can primarily be attributed to the widespread popularity of this type in disease diagnosis as well as in pregnancy detection.
“By animal, the small companion animals segment accounted for the largest market share in 2019”
Based on animal, the animal/veterinary ultrasoundmarket is segmented into small companion animals, large animals, and other animals. The companion animals segment accounted for the largest market share in 2019. This segment is also projected to register the highest CAGR during the forecast period. The growth in this segment can be attributed to the growing adoption of companion animals and growing willingness of companion animal owners to spend more on animal health.
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