Veterinary Ultrasound Market Expected to Reach $520.11 Million by 2030

 

Veterinary Ultrasound Market: Insights and Forecasts for 2024-2030

The veterinary ultrasound market is on a trajectory of robust growth, driven by a variety of dynamic factors that are reshaping the landscape of animal healthcare. According to the latest research from Meticulous Research®, the market is set to reach an impressive $520.11 million by 2030, expanding at a CAGR of 6.1% from 2024 to 2030. This growth is reflective of an increasingly sophisticated approach to animal health diagnostics, propelled by advancements in technology and a rising focus on animal welfare.

Market Drivers and Growth Factors

Several pivotal factors are fueling the expansion of the veterinary ultrasound market:

  1. Increased Adoption of Animals: The growing number of pets and livestock worldwide is leading to an increased demand for diagnostic tools. As more households and farms embrace animal care, the need for precise and reliable diagnostic equipment like ultrasound devices escalates.
  2. Rising Prevalence of Zoonotic Diseases: With a surge in zoonotic diseases—illnesses that can be transmitted from animals to humans—there is a heightened demand for advanced diagnostic tools to detect and manage these conditions effectively.
  3. Technological Advancements: Continuous innovations in ultrasound technology, including the development of high-resolution 2D, 3D/4D, and Doppler imaging, are significantly enhancing diagnostic accuracy and efficiency. These advancements are making veterinary ultrasound a vital tool in both clinical and research settings.
  4. Increased Animal Health Expenditure and Pet Insurance: In developed countries, rising expenditure on animal healthcare and growing adoption of pet insurance are contributing to the market’s growth. This financial commitment supports the acquisition of advanced diagnostic technologies.
  5. Favorable Government Initiatives: Government policies and initiatives aimed at improving animal health and supporting veterinary practices are providing a conducive environment for market expansion.

Emerging Economies as Growth Hubs

Emerging economies are becoming increasingly pivotal in the growth of the veterinary ultrasound market. Regions such as Asia-Pacific are witnessing significant growth opportunities due to:

  • High Prevalence of Foodborne and Zoonotic Diseases: Emerging countries are facing a rise in foodborne illnesses and zoonotic diseases, which drives the demand for advanced diagnostic solutions.
  • Growing Livestock and Pet Populations: With an increasing population of livestock and companion animals, there is a greater need for effective diagnostic tools to ensure the health and productivity of these animals.
  • Demand for Livestock-Derived Food Products: The global consumption of meat proteins is projected to increase by 14% by 2030, leading to a greater need for improved reproductive strategies and health management in livestock.
  • Supportive Government Campaigns: Favorable policies and campaigns aimed at enhancing animal health in emerging economies are further driving the demand for veterinary ultrasound technology.

Market Segmentation and Insights

The veterinary ultrasound market is segmented based on animal type, portability, technology, application, end user, and geography. Each segment presents unique growth opportunities and trends:

Animal Type

  • Small Animals: The segment for small animals, including pets such as dogs and cats, is expected to dominate the market in 2024. This growth is attributed to the increasing pet ownership and rising expenditure on pet healthcare. The North American Pet Health Insurance Association (NAPHIA) reports a significant growth in pet health insurance, reaching $1.99 billion in 2020, underscoring the robust demand for veterinary diagnostic services.
  • Large Animals: The market for large animals, including equine and farm animals, is also growing due to increased focus on livestock health and productivity.

Portability

  • Cart-based Ultrasound Scanners: In 2024, cart-based ultrasound scanners are expected to hold the largest market share. The popularity of these devices is driven by their widespread use in hospitals, clinics, and veterinary imaging centers, coupled with technological advancements that enhance their functionality and ease of use.
  • Handheld Ultrasound Scanners: While cart-based systems lead the market, handheld ultrasound scanners are gaining traction for their portability and convenience in field settings.

Technology

  • 2D Ultrasound: The 2D ultrasound segment is projected to be the largest in 2024. This technology remains a staple in veterinary practices due to its simplicity, real-time imaging capability, and cost-effectiveness.
  • 3D/4D and Doppler Ultrasound: These advanced technologies are becoming more prevalent, offering enhanced imaging and diagnostic capabilities for complex cases.

Application

  • Cardiology: The cardiology segment is anticipated to be the largest market segment in 2024, driven by the rising incidence of cardiac disorders in animals. Conditions like Myxomatous Mitral Valve Disease

(MMVD) in dogs highlight the need for effective cardiac imaging and diagnosis.

  • Orthopedics & Musculoskeletal: This segment is also significant, addressing conditions affecting the musculoskeletal system of animals, which are common in both pets and livestock.
  • Obstetrics & Gynecology: Veterinary ultrasound plays a critical role in reproductive health, including pregnancy monitoring and reproductive diagnostics.

End User

  • Veterinary Hospitals: The hospital segment is expected to capture the largest share of the market in 2024. Veterinary hospitals frequently utilize ultrasound technology for a variety of diagnostic and surgical procedures, making them major consumers of these devices.
  • Veterinary Clinics: These facilities are also significant end users, benefiting from advancements in portable and high-resolution ultrasound systems.

Geographical Insights

The global veterinary ultrasound market is analyzed across various regions, each showing unique growth patterns:

  • North America: This region is anticipated to hold the largest market share in 2024, driven by high incidence rates of zoonotic diseases, increasing pet ownership, and substantial spending on animal healthcare. The U.S. and Canada are leading contributors, supported by advanced healthcare infrastructure and high adoption of veterinary technologies.
  • Europe: Europe follows closely, with countries such as Germany, France, and the U.K. showing strong market presence. The region’s focus on high-quality veterinary care and growing awareness about animal health contribute to this market’s expansion.
  • Asia-Pacific: This region presents significant growth opportunities, especially in emerging economies like China and India. The rising livestock population and increasing demand for food products drive the need for advanced veterinary diagnostic solutions.
  • Latin America and Middle East & Africa: These regions are also expected to grow, though at a slower pace compared to North America and Europe. Efforts to improve animal health and support for veterinary services are likely to boost market growth.

Key Players and Competitive Landscape

The veterinary ultrasound market features several prominent players, including:

  • Esaote S.p.A (Italy)
  • Sonostar Technologies Co. (China)
  • Universal Imaging Inc. (U.S.)
  • FUJIFILM Sonosite, Inc. (U.S.)
  • SOUND (U.S.)
  • Samsung Electronics Co., Ltd. (South Korea)
  • Shenzhen Mindray Animal Medical Technology Co., LTD. (China)
  • Siemens Medical Solutions, Inc. (U.S.)
  • Heska Corporation (U.S.)
  • IMV Imaging Ltd (U.K.)
  • DRAMIŃSKI S. A. (Poland)

These key players are continuously innovating and expanding their product portfolios to meet the evolving needs of the veterinary healthcare industry. Strategic partnerships, technological advancements, and regional expansions are central to their competitive strategies.

Download Free Sample Report Here : https://www.meticulousresearch.com/download-sample-report/cp_id=5425

Key questions answered in the report-

  • Which segments exhibit significant growth potential in terms of animal type, portability, technology, application, end user, and geography?
  • What has been the historical performance of the global veterinary ultrasound market?
  • What are the market forecasts and expectations for the period from 2023 to 2030?
  • What are the primary drivers, obstacles, opportunities, and challenges within the veterinary ultrasound market?
  • Who are the leading players in the veterinary ultrasound market?
  • What does the competitive landscape look like, and which companies are dominating the veterinary ultrasound sector?
  • What are the recent innovations and developments in the veterinary ultrasound industry?
  • How are major players in the veterinary ultrasound market executing their strategic initiatives?
  • What trends are emerging across different regions, and which areas are experiencing significant growth?

Contact Us:
Meticulous Research®
Email- sales@meticulousresearch.com
Contact Sales- +1-646-781-8004
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research

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