Veterinary Ultrasound Market

Veterinary Ultrasound Market Size, Share & Trends

The size of global veterinary ultrasound market in terms of revenue was estimated to be worth $385 million in 2024 and is poised to reach $539 million in 2029, growing at a CAGR of 7.0% from 2024 to 2029. The comprehensive research encompasses an exhaustive examination of industry trends, meticulous pricing analysis, patent scrutiny, insights derived from conferences and webinars, identification of key stakeholders, and a nuanced understanding of market purchasing dynamics.

The veterinary ultrasound market is fueled by increasing demand for specialized ultrasound devices, technological advancements, and increased pet healthcare expenditure, but challenges include high costs of the ultrasound devices and lack of veterinarians.

In this report, the veterinary ultrasound is segmented into – animal type, application, type, technology, product, end user and region.

Veterinary Ultrasound Market Trends

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Veterinary Ultrasound Equipment Market Dynamics

Driver: Technological advancements in veterinary ultrasound will drive the market

Technological advancements are a pivotal driver of the veterinary ultrasound market, enhancing both the capability and accessibility of ultrasound devices. Modern ultrasound systems offer significantly improved image quality, which allows for more accurate diagnoses of complex conditions in animals. Innovations such as portable and handheld devices have expanded the use of ultrasound beyond traditional clinic settings to field applications, enabling veterinarians to conduct examinations and diagnoses on-the-spot, particularly useful in treating large or non-ambulatory animals. Furthermore, the integration of digital features, such as wireless connectivity and cloud storage, has facilitated the easier sharing and management of imaging data, enhancing collaboration among veterinary professionals.

Restraint: High cost of veterinary ultrasound devices

The high cost of ultrasound devices is a significant factor restraining the growth of the veterinary ultrasound market. Advanced ultrasound technology, equipped with cutting-edge features like high-resolution imaging and sophisticated data analysis capabilities, often comes with a hefty price tag. This poses a substantial barrier to entry for smaller veterinary practices and clinics, particularly those in developing regions or rural areas where financial resources are limited. The capital investment required not only includes the initial purchase price but also the ongoing maintenance and potential upgrades, which can further strain budgets.

Opportunity: emerging markets create an opportunity for growth

Emerging markets represent a significant opportunity for growth in the veterinary ultrasound market, driven by rapid economic development, increasing pet ownership, and heightened awareness of animal health care. As the middle class expands in these regions, there is a growing willingness to invest in advanced veterinary services, including diagnostic imaging. This demographic shift is coupled with an increasing number of veterinary practitioners and clinics in these areas, creating a demand for modern medical equipment. Furthermore, governments in these countries are often investing in improving animal health infrastructure to boost livestock productivity, which further amplifies the need for diagnostic tools like ultrasound. The relatively low penetration of advanced veterinary technologies in these markets also means that there is substantial room for growth, providing an attractive opportunity for manufacturers and distributors of ultrasound equipment to establish a strong presence and expand their market share.

Challenge: Limited awareness among pet owners

Limited awareness among pet owners about the benefits and capabilities of veterinary ultrasound presents a significant challenge for the market. Many pet owners are not fully informed about the advantages of ultrasound in diagnosing and monitoring various health conditions in animals. This lack of awareness can lead to reluctance in opting for ultrasound procedures, especially when they perceive these as optional or excessively costly compared to other diagnostic methods.

The challenge is particularly acute in regions with less developed veterinary care systems where information about the latest advancements in pet healthcare may not be as accessible. Pet owners in such areas might not understand the importance of regular health checks that could include ultrasound examinations, which are crucial for early detection of diseases and conditions.

Veterinary Ultrasound Market Ecosystem

In the veterinary ultrasound market, the ecosystem encompasses a network of interconnected stakeholders and components, ranging from manufacturers and distributors of ultrasound devices to veterinary clinics, hospitals, and research institutions. Manufacturers develop and supply a diverse range of equipment tailored specifically for veterinary ultrasound.

Distributors play a crucial role in the supply chain, ensuring the efficient distribution of equipment to veterinary facilities worldwide. Veterinary clinics and hospitals serve as end users, employing ultrasound equipment for routine examinations, diagnostics, and surgical interventions in animals. Regulatory bodies and industry associations also influence the market landscape by establishing standards, guidelines, and certifications to ensure product quality, safety, and compliance. Overall, this interconnected ecosystem fosters collaboration, innovation, and advancement in veterinary ultrasound, ultimately benefiting both animal patients and caregivers

Based on type, the veterinary ultrasound market is segmented into 2D ultrasound, Doppler ultrasound and 3D/4D ultrasound. 2D ultrasound holds the largest market share in the veterinary ultrasound market as 2D ultrasound boasts affordability and ease of use.  The scanners are generally less expensive than their 3D/4D counterparts, making them accessible to a wider range of veterinary clinics.  Additionally, the technology is well-established, with many veterinarians already familiar and comfortable operating 2D machines.  This translates to faster examination times and potentially lower overall costs for pet owners.  Furthermore, 2D ultrasound excels at providing real-time, cross-sectional images perfectly suited for numerous applications,  from pregnancy detection and abdominal examinations to evaluating heart function.

Based on product, the veterinary ultrasound market is segmented into cart-based ultrasound and portable ultrasound. Portable ultrasound machines dominate the veterinary ultrasound market for several reasons. Their compact size and lightweight design make them incredibly versatile. They can be easily transported between exam rooms, taken out to farms or remote locations for on-site examinations of large animals, and even incorporated into house calls. This portability enhances accessibility for both veterinarians and animals, allowing for examinations in a more comfortable and stress-free environment for the animal. Additionally, portable machines are generally more affordable compared to their cart-based counterparts.

Based on technology, the veterinary ultrasound market is segmented into digital and contrast. Digital imaging holds the largest market share in the veterinary ultrasound market as it provides superior image quality. Digital images are sharper, clearer, and less prone to artifacts, allowing for more accurate diagnoses.  Secondly, digital technology facilitates image manipulation and storage.  Veterinarians can easily enhance the image for better visualization, share it electronically with colleagues for consultations, and store it securely in digital archives for future reference. This eliminates the need for bulky film and simplifies record-keeping.

Based on application, the veterinary ultrasound market is segmented into obstetrics/Gynecology, cardiology, orthopedics and other applications. Obstetrics and gynecology hold the largest market share in the veterinary ultrasound market as pregnancy detection in animals is a routine procedure heavily reliant on ultrasound technology. Its non-invasive nature and ability to provide clear images of developing fetuses make it the go-to tool for veterinarians.  Also, the growing focus on animal breeding and responsible pet ownership fuels the demand for ultrasound in this area. Additionally, ultrasound plays a crucial role in diagnosing and treating various gynecological conditions in animals, such as uterine abnormalities, ovarian cysts, and tumors.

Based on animal, the veterinary ultrasound market is segmented into small animals, large animals and other animals. Small animals hold the largest market share in the veterinary ultrasound market as the booming pet ownership trend translates directly to a larger market for companion animal care. Rising disposable income and a growing humanization of pets fuel pet owners' willingness to invest in advanced diagnostics like ultrasound. Secondly, the sheer number of small animals, particularly dogs and cats, compared to larger livestock, creates a naturally larger customer base for this technology. Additionally, the smaller size of these animals makes them well-suited for the ergonomics and capabilities of portable ultrasound machines, further driving adoption in veterinary clinics.

Based on end user, the veterinary ultrasound market is segmented into Veterinary clinics, veterinary hospitals and academic institutes and Other End Users. Veterinary clinics hold the largest market share in the veterinary ultrasound market as they represent the frontline of animal healthcare, providing routine checkups, preventive care, and initial diagnoses.  Ultrasound's non-invasive nature and versatility make it a perfect fit for this environment, allowing veterinarians to quickly assess a wide range of issues without resorting to more expensive or potentially risky procedures. Secondly, the growing focus on preventative pet care and pet wellness encourages vets to invest in diagnostic tools like ultrasound.

North America accounted for the largest share of the global veterinary ultrasound, by region in the forecast period.

North America holds the largest market share in the veterinary ultrasound market due to factors such as high pet ownership, advanced veterinary infrastructure, pet health awareness, key market players, and a favorable regulatory landscape. Pet owners are more likely to seek veterinary attention for their pets health, leading to a larger market for veterinary ultrasound. However, developing veterinary infrastructure and lower disposable income levels in other regions may limit the market size. Despite these challenges, North America's high pet ownership rate, emphasis on pet healthcare spending, advanced veterinary infrastructure, and key market players contribute to its market dominance.

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The key players in the market include GE Healthcare (US), Esaote SpA (Italy), Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China), Siemens Healthineers (Germany), FUJIFILM Holdings Corporation (Japan), Chison Medical Technologies Co., Ltd., (China), Shantou Institute of Ultrasonic Instruments Co., Ltd. (China), E.I. Medical Imaging (US), EDAN Diagnostics, Inc. (China), BMV Technology Co., Ltd (China), Samsung Electronics Co., Ltd. (South Korea), Vinno Technology (China), Shenzhen Ricso Technology Co., Ltd (China), SonoScape Medical Corp. (China), Interson Corporation (US), Scintica Instrumentation (Canada), Promed Technology Co., Ltd. (China), Leltek Inc. (China), DRAMINSKI S.A (Poland), Lepu Medical Technology (China), Butterfly Network Inc (US), Clarius Mobile Health (Canada), Xuzhou Kaixin Electronic Instrument Co., Ltd. (China), Contec Medical Systems Co., Ltd (China), Reproscan (US), and IMV Imaging (UK).

Scope of the Veterinary Ultrasound Industry

The study categorizes the veterinary ultrasound market to forecast revenue and analyze trends in each of the following submarkets:

By Type

• 2D Ultrasound
• Doppler Ultrasound
• 3D/4D Ultrasound

By Product

• Cart-based
• Portable

By Technology

• Digital
• Contrast

By Animal

• Small Animals
• Large Animals
• Other Animals

By Application

• Obstetrics/Gynecology
• Cardiology
• Orthopaedics
• Other Applications

By End User

• Veterinary Hospitals and Academic Institutes
• Veterinary Clinics
• Other End Users

By Region

• North America
  • US
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Sweden
  • Norway
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Rest of APAC
• Latin America
  • Brazil
  • Mexico
  • Rest of LATAM
• Middle East & Africa

Recent Developments of Veterinary Ultrasound Industry

• In January 2024, Esaote introduced two new ultrasound systems, MyLab A50 and MyLab A70, at Arab Health in Dubai World Trade Centre
• In January 2023, GE Healthcare and Sound Technologies entered into an agreement to distribute Vscan Air to veterinary practices in the US.
• In September 2021, GE Healthcare acquired BK Medical to bolster its Ultrasound business, extending from diagnostics to surgical and therapeutic intervention.
• In November 2021, FUJIFILM Europe plans to broaden its customer base by offering products and services for veterinary diagnostics through the acquisition of the French distribution company DMV Imaging.

Frequently Asked Questions (FAQ):

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