Meticulous Research® has published a comprehensive report titled "Veterinary Ultrasound Market by Animal Type [Small, Large (Equine, Farm)], Scanner [Cart-based, Handheld], Technology (2D, 3D/4D, Doppler), Application (Orthopedic, Cardiology, Obstetric Gynecology), End User (Clinic, Hospital) - Global Forecast to 2030." This report offers detailed insights into the expanding market for veterinary ultrasound devices.
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According to Meticulous Research®, the veterinary ultrasound market is forecasted to reach a valuation of $520.11 million by 2030, growing at a CAGR of 6.1% from 2024 to 2030. Factors driving this growth include the rising adoption of animals, increasing prevalence of zoonotic diseases, and technological advancements in ultrasound technology. Favorable government initiatives, along with increasing pet insurance coverage, are also bolstering market growth, particularly in developed countries.
Emerging economies are becoming pivotal contributors to the veterinary ultrasound market's growth. While the U.S. and certain European countries remain major players, manufacturers are shifting focus toward underpenetrated regions, especially in Asia-Pacific. In these areas, there is a growing demand for livestock-derived food products and a corresponding increase in the livestock population.
The Asia-Pacific region holds significant potential due to its rising prevalence of foodborne and zoonotic diseases. For instance, livestock production is growing rapidly in response to increasing meat consumption. According to FAO data, global meat protein consumption is projected to rise by 14% by 2030. This increase in demand will likely drive the adoption of improved diagnostic tools in livestock management.
The veterinary ultrasound market is segmented across multiple dimensions, including animal type, scanner portability, technology, and end-user application. For animal types, the market distinguishes between small and large animals, such as farm and equine species. By 2024, small animals are expected to dominate the market due to the growing companion animal population.
In terms of portability, cart-based ultrasound scanners are anticipated to hold the largest market share in 2024. These devices' widespread availability, coupled with their prevalent use in veterinary clinics and imaging centers, contribute to their dominance. Furthermore, technological advancements have made these systems more user-friendly and accessible.
Technologically, 2D ultrasound systems are expected to maintain the largest share of the market by 2024. The prevalence of 2D imaging in veterinary practices is largely due to its conventional nature, real-time imaging capabilities, and ease of use, making it the standard diagnostic tool in animal healthcare.
Applications for veterinary ultrasound devices include orthopedic and musculoskeletal diagnostics, cardiology, and obstetrics and gynecology. Of these, the cardiology segment is projected to see the highest demand by 2024, driven by the increasing prevalence of cardiac diseases in pets, particularly older and obese animals.
Among end users, the hospital segment is forecasted to capture the largest market share. Veterinary hospitals are equipped to handle advanced diagnostic procedures and surgeries, making them key players in the veterinary ultrasound market. The prevalence of zoonotic diseases and rising pet ownership further support this segment's growth.
The report also highlights key geographical markets, including North America, Europe, Asia-Pacific, Latin America, and the Middle East Africa. North America is anticipated to dominate the market, driven by a combination of high pet ownership rates, increasing livestock care, and a growing awareness of zoonotic infections.
In conclusion, the veterinary ultrasound market is poised for significant growth over the coming years, with developed and emerging markets both contributing to its expansion. Companies operating in this space are expected to focus on technological innovations and expanding their reach into underpenetrated markets to capitalize on these opportunities.
Key Players:
The key players operating in the veterinary ultrasound market are 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.), and DRAMIŃSKI S. A. (Poland).
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Key questions answered in the report-
- Which are the high-growth market segments in terms of animal type, portability, technology, application, end user, and geography?
- What was the historical market for veterinary ultrasound across the globe?
- What are the market forecasts and estimates for the period 2024–2030?
- What are the major drivers, restraints, opportunities, and challenges in the veterinary ultrasound market?
- Who are the major players in the veterinary ultrasound market?
- What is the competitive landscape, and who are the market leaders in the veterinary ultrasound market?
- What are the recent developments in the veterinary ultrasound market?
- What are the different strategies adopted by the major players in the veterinary ultrasound market?
- What are the geographical trends and high-growth regions/countries?
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