VETERINARY ULTRASOUND MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)
Global veterinary ultrasound market is estimated to be valued at USD 504.9 Mn in 2024 and is expected to exhibit a CAGR of 7.4% during the forecast period (2024-2031). Veterinary ultrasound is an important medical device used in veterinary practice for diagnostic and therapeutic purposes. It helps veterinarians examine the internal organs and structures of animals in a non-invasive manner. Ultrasound uses high-frequency sound waves to create images of organs, tissues, muscles, bones, or fluids inside the body in real-time. Some of the key applications of veterinary ultrasound include pregnancy detection and fatal counting in livestock, detection of abdominal masses, internal organ imaging, musculoskeletal imaging and guidance for biopsies and surgical procedures. Rising pet healthcare expenditure and growing animal health awareness are expected to drive the demand for veterinary ultrasound devices in the coming years.
Market Dynamics:
The global veterinary ultrasound market growth is driven by increasing pet ownership, growing animal health expenditure, rising incidence of zoonotic diseases, and technological advancements in ultrasound devices. However, high costs associated with veterinary ultrasound systems and procedures hampers market growth. Growing demand for pet insurance and increasing integration of AI and IoT in ultrasound devices present promising opportunities in the market. North America dominates the veterinary ultrasound market owing to favorable reimbursement policies and higher affordability in the region. Asia Pacific is expected to witness the highest growth owing to rising acceptance of pets and increasing per capita animal healthcare spending in China and India. Key players are focused on developing compact, portable, and multifunctional veterinary ultrasound systems to gain greater market share.
Key Features of the Study:
- This report provides in-depth analysis of the global veterinary ultrasound market, and provides market size (US$ Mn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global veterinary ultrasound market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include IDEXX, Esaote SpA, Mars Incorporated, Fujifilm Healthcare Solutions, Siemens Healthcare Limited, GE Healthcare, IMV Imaging, CHISON Medical Technologies Co., Ltd., BenQ Medical Technology Corp, Avante Animal Health, CONTEC MEDICAL SYSTEMS CO.,LTD, and Butterfly Network, Inc.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global veterinary ultrasound market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global veterinary ultrasound market
Market Segmentation
Market Segmentation
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