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 this market to some extent.
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- To define, describe, and forecast the veterinary ultrasound market with respect to segments in type, product, animal, application, technology, end user and region.
- To provide detailed information regarding the major factors influencing market growth (such as drivers, restraints, opportunities, and industry-specific challenges)
- To strategically analyze micromarkets with respect to individual growth trends, future prospects, and contributions to the overall animal ultrasound market
- To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
- To forecast the size of the veterinary ultrasound market for five main regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa
- To profile the key players in the global animal/veterinary ultrasound industry and comprehensively analyze their core competencies
- To track and analyze competitive developments such as acquisitions, new tests/technology developments, geographical expansions, and research & development activities of the leading players in the global market
North America will continue to dominate the market during the forecast period
The 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.
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Key Market Players
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), DRAMIÑSKI S.A. (Poland), Shantou Institute of Ultrasonic Instruments Co., Ltd. (SIUI), Clarius Mobile Health (US) and SonoScape Medical Corporation (China)