The global Veterinary Ultrasound market was valued at USD 236.0 million in 2021 and it is anticipated to grow up to USD 858.1 million by 2031, at a CAGR of 13.6% during the forecast period.
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Veterinary Ultrasound employs ultrasonic sound waves with frequencies ranging from 1.5 to 15 megahertz (MHz) to aid in the formation of images of body structures based on the pattern of echoes reflected from the tissues and organs being imaged. After directing an ultrashort pulse of sound into the animal, the transducer switches to the receive mode. Even at nearly microscopic levels, echoes occur when the sound beam changes velocity while passing from one density tissue to another. A small percentage of these echoes are reflected back to the transducer, which converts the echoes’ energy into electrical impulses that are recorded by the ultrasound machine’s computer.
Market Trends and Drivers
Rising animal diagnostic needs for a variety of health conditions such as pregnancy, organ enlargement, foreign body ingestion, and internal injuries have resulted in an increase in animal healthcare expenditure, which has aided industry growth. Furthermore, new product innovations may boost the veterinary ultrasound devices market outlook in the coming years, driven by rising demand for improved imaging technology and growing awareness of the importance of early and precise disease diagnosis.
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Market Restraints and Challenges
Big companion and farm animal populations exist in emerging economies such as India, China, Brazil, and some Southeast Asian countries. However, animal health spending in these countries is lower than in developed countries in North America and Europe. This is primarily due to pet and livestock owners’ lack of animal health awareness. Furthermore, in these countries, animal health expenditure in the farm animal segment is focused on therapeutics rather than diagnostics. As a result, veterinary ultrasound is not widely used in these countries’ large animal practices, such factors is expected to restrict the business expansion.
Major Players in the Global Veterinary Ultrasound Market
The key players in the market are GE Healthcare (US), Esaote SpA (Italy), FUJIFILM Holdings Corporation (Japan), Shenzhen Mindray Bio-medical Electronics Co., Ltd. (China), Siemens Healthineers (Germany), Diagnostic Imaging Systems, Inc. (US), IMV Imaging (UK), Shenzhen Ricso Technology Co., Ltd. (China), Heska Corporation (US), Clarius Mobile Health (Canada), E.I. Medical Imaging (US), and Samsung Medison Co., Ltd. (South Korea), among others.
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COVID-19 Impact
The veterinary ultrasound device industry last year was severely impacted by the pandemic. Very few people visited hospitals and clinics as a result of lockdowns being imposed in numerous nations, which resulted in travel and movement limitations coupled with stringent social distancing norms in public spaces driven by the infection anxiety significantly reduced the footfalls in hospitals and clinics. Also, shutting down major industries and factories caused disruptions in the stock and supply chain management of veterinary ultrasound devices. However, with the implementation of new policies and procedures like remote diagnostic and monitoring, the market may experience strong progression in the coming years..
Global Veterinary Ultrasound Market Segmentation
By Type
- 2-D Ultrasound Imaging
- 3-D/4-D Ultrasound Imaging
- Doppler Imaging
By Technology
- Digital Imaging
- Contrast Imaging
- Analog Imaging
By Application
- Orthopedics
- Cardiology
- Oncology
- Obstetrics & Gynecology
- Others
By End-use
- Veterinary Clinics
- Veterinary Hospitals
- Others
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