Veterinary Ultrasound Market is Expanded by 15% Merging Companies Profits and Pitfalls Data of Veterinary Ultrasound Industry Forecast till 2023 – By MRFR

Veterinary Ultrasound Market
Market Research Future published a cooked research report on “Veterinary Ultrasound Market Research Report – By Major Industry Trends, Worldwide Business Analysis, Major Segments and Sub segments. Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Veterinary Ultrasound Market – Overview

The global veterinary ultrasound market is expected to register a CAGR of 6.0% during the forecast period of 2018 to 2023.

Veterinary ultrasound scanners are diagnostic modalities in which high-frequency sound waves are used to generate the images of animals’ body parts. In the recent years, the expenditure on pet care has increased along with technological advancements in veterinary ultrasounds. It is reported that the pet owners spend hugely on routine veterinary expenses and surgical veterinary visits. As per the data suggested by the American Pet Products Association (APPA)  in 2015, around 65% of the U.S. population owned a pet. Moreover, it was estimated that the U.S. pet industry expenditure had a worth of USD 60.3 million within the same year.  Thus, with the growing spending on animal care, the demand for veterinary diagnosis and related equipment is estimated to increase, boosting the growth of the global veterinary ultrasound market.

Technological advancements in veterinary ultrasound have profoundly impacted the growth of the market. The increased competition among existing and new market players to develop novel devices with higher accuracy and more advanced features are likely to result in the growth of the market ultimately. For instance, IDEXX Laboratories, Inc., on September 9, 2015, announced the release of IDEXX Web PACS to access diagnostic images from any web-enabled device by eliminating the need for manual backup and local servers, thus, giving the liberty from traditional practices and saving time and labor.

On the other hand, factors such as high procedure cost and lack of skilled veterinarians are estimated to restrain the market growth during the forecast period. According to the statistics published by the Canadian Veterinary Medical Association, in 2017, there were approximately 14,345 skilled veterinarians present in Canada, whereas the total population of household cats and dogs were 8.8 million and 7.6 million, respectively. Due to the limited availability of skilled forces, the increasing demand for the market remained unmet. Therefore, the market is estimated to be restrained in the presence of limited availability of skilled forces, over the forecast period.

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Veterinary Ultrasound Market – Top Players

 Samsung Medison Co. Ltd

  • BCF Technology Ltd
  • Esaote SpA
  • Shenzhen Mindray Bio-Medical Electronics Co. Ltd
  • DRAMINSKI S. A
  • Siemens Healthineers
  • Sonostar Technologies Co. Limited
  • General Electric Company
  • Hitachi Ltd
  • Sonoscape Medical Corp,
  • Toshiba Medical Systems Corporation
  • Fujifilm Holdings Corporation, and others.

 

Global Veterinary Ultrasound Market – Regional Analysis

 The Americas dominates the global market for veterinary ultrasounds owing to the increasing adoption of companion animals, favorable pet health insurance, and high disposable income. According to the North American Pet Health Insurance Association (NAPHIA), in 2017, the North American pet health insurance sector posted a growth with combined gross written premiums of about 1.2 billion. Thus, increasing insurances for pet care boost the market growth by making the bills reimbursable.

In 2017, it was estimated that Europe stood second in the veterinary ultrasound market. Factors such as increasing pet population and high disposable household income drive the market within the region. According to the Pet Food Manufacturers Association in 2016, there were approximately 8.5 million domestic dogs and 7.5 million cats in the U.K. occupying around 24% and 17%, respectively, of the total households within the region. Such an adoption rate of pets within the region enhances the market by increasing the addressable population size and thus provides the required driving force for the market to grow within the region.

Asia Pacific was the fastest growing region for the global veterinary ultrasound market in 2017. Some of the major factors influencing the growth of the market include increasing nuclear families preferring pets, rising disposal income, and growing penetration of multinational players within the region.

On the other hand, the Middle East and Africa holds the least share in the global veterinary ultrasound market. The presence of poor economies and low per capita income, especially within the African region make the market to lag within the region. A majority of the market share within this region is estimated to be held by the Middle East due to the presence of developed economies such as Kuwait, Qatar, Dubai, and others.

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Global Veterinary Ultrasound Market – Segmentation

Intended Audience

  • Pharmaceutical companies
  • Biotechnological institutes
  • Government and private laboratories
  • Research and Development (R&D) companies
  • Medical research laboratories
  • Market research and consulting service providers

Global Veterinary Ultrasound Market, by Animal

  • Small Companion Animals
  • Large Animals
  • Others

Global Veterinary Ultrasound Market, by Type

  • 2D Ultrasound Imaging
  • 3D Ultrasound
  • Doppler Imaging
  • Others

Global Veterinary Ultrasound Market, by Product

  • Devices
    • Portable/Hand Held Ultrasound Scanners
    • Cart-based Ultrasound Scanners
  • Software

Global Veterinary Ultrasound Market, by Imaging Technology

  • Digital Imaging Technology
  • Analog Imaging Technology
  • Contrast Imaging Technology
  • Iodinated Contrast Media
  • Gadolinium-Based Contrast Media
  • Gadoterate
  • Gadodiamide
  • Others
  • Microbubble Contrast Media
  • Hard-Shell Microbubbles
  • Polymer-Shelled Microbubbles
  • Others
  • Barium-Based Contrast Media

Global Veterinary Ultrasound Market, by Therapeutic Area

  • Cardiology
  • Neurology
  • Oncology
  • Orthopedics and Traumatology
  • Others

Global Veterinary Ultrasound Market, by End-user

  • Veterinary Hospitals
  • Veterinary Clinics
  • Animal Breeding and Farms
  • Others

Major TOC of Veterinary Ultrasound Market Research Report- Global Forecast till 2023

1 Introduction

2 Research Methodology

3 Market Dynamics

4 Market Factor Analysis

5 Global Veterinary Ultrasound Market, By Animal

6 Global Veterinary Ultrasound Market, By Product

7 Global Veterinary Ultrasound Market, By Therapeutic Area

8 Global Veterinary Ultrasound Market, By Imaging Technology

9 Global Veterinary Ultrasound Market, By End-User

10 Global Veterinary Ultrasound Market, By Region

11 Company Landscape

12 Company Profiles

 

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