(PharmaNewsWire.Com, August 12, 2021 ) [183 Pages Report] The global veterinary ultrasound market size is projected to reach USD 448 million by 2025 from USD 338 million in 2020, at a CAGR of 5.8%.
Factors such as growth in the companion animal population, rising demand for pet insurance, increasing number of veterinary practitioners in developed economies, technological advancements are driving the growth of this market during the forecast period. However, high cost of instruments and procedures is restraining the growth of Animal Ultrasound Market to some extent.
The 2D ultrasound segment dominates the veterinary ultrasound industry, by type of ultrasound scanners
Based on the type of scanners, the 2D segment accounted for the largest share of the veterinary ultrasound market in 2019. The large share of this segment can primarily be attributed to the widespread popularity of these type of scanners in disease diagnosis as well as in pregnancy detection.
By product, the cart-based segment accounted for the largest share of the market in 2019
Based on product, the Animal Ultrasound Market is segmented into cart-based and portable ultrasound scanners. In 2019, the cart-based segment accounted for the largest portion of the market due to its ease of use and is extensively used in hospitals, clinics and diagnostic centers.
North America will continue to dominate the Animal Ultrasound Market during the forecast period
The Animal Ultrasound Market, by region, is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America accounted for the largest share of the animal/veterinary ultrasound industry in 2019. The growth of the North American market is attributed to the increasing adoption of companion animals, the growing pet insurance industry, rising veterinary healthcare expenditure, and the growing number of veterinary practices. In addition, a majority of players in the animal/veterinary ultrasound industry are based in the US.
Key Market Players:
The key players operating in the global Veterinary Ultrasound Market are GE Healthcare (US), Heska Corporation (US), Siemens AG (Germany), FUJIFILM Holdings Corporation (Japan), Esaote SpA (Italy), Mindray Medical International, Ltd. (China), Samsung Medison Co., Ltd.( Korea), Diagnostic Imaging Systems Inc. (US), IMV imaging (Scotland), Shenzhen Ricso Technology Co., Ltd. (China), DRAMIŃSKI S.A. (Poland), Shantou Institute of Ultrasonic Instruments Co., Ltd. (SIUI), Clarius Mobile Health (US) and SonoScape Medical Corporation (China)
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