Veterinary Ultrasound Market Research Report: Information by Animal Type (Small Companion Animals, Large Animals), Type (2D Ultrasound Imaging, 3D Ultrasound Imaging, Doppler Imaging), Product Type, (Device (Cart Based Ultrasound Scanners, Portable/Compact Ultrasound Scanners) and Software), Therapeutic Area, (Orthopedics and Traumatology, Cardiology, Oncology and Neurology), Imaging Technology (Digital Imaging Technology, Analog Imaging Technology and Contrast Imaging Technology)- Forecast till 2027
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Competitive Landscape:
Samsung Medison Co. Ltd, Esaote, Fujifilm SonoSite Inc., Hitachi, Ltd, Chison,GE Healthcare, Kaixin Electric, BCF Technology, Xuzhou Kaixin Electronic Instrument Co., Ltd, Mindray, and SonoScape
Market Segmentation:
· The global Veterinary Ultrasound Market has been segmented in terms of type, end-user, and components.
· By imaging technology, the market has been segmented into digital imaging technology, analog imaging technology, and contrast imaging technology. The digital imaging technology segment was valued at USD 100.73 Mn in 2017.
· By therapeutic area, the market is narrowed down into neurology, oncology, cardiology, orthopedics and traumatology, and others. The orthopedics and traumatology segment was leading with the highest share of the market back in 2017.
· By product type, the market isdivided into devices and software. The devices segment is further branched down into cart-based ultrasound scannersandportable/compact ultrasound scanners.
· By type, the market breaks down into 2D ultrasound imaging, Doppler imaging, 3D ultrasound, and others. Among these, the 2D ultrasound imaging segment enjoys the highest share of the market.
· By animal type, the market compriseslarge animals, small companion animals, and others. The small companion animals segment of theveterinary ultrasound market acquires more than 64.8% share of the entire market to lead the standing. It is expected to register positive growth during the ongoing forecast period due to factors like rising trend of pet ownership, growing adoption rate of companion animals,especially dogs and cats, and the development of various breeds that need high care.
Regional Analysis:
The global veterinary ultrasound marketis geographically distributed across the following key regions: Asia Pacific, Americas, Europe, and the Middle East and Africa
Americas holdsamajority of theveterinary ultrasound market share at present and is expected to exhibit a CAGR of 5.89% during the forecast period. The segment is slated to reach a projected valuation of USD 87.2 million by the end of the forecast period. The growth of the regional market can be attributed to the rising adoption of pets, increasing technically-advanced devices, heightened demand for preventive treatments and care facilities for companion animals, and increasing awareness concerning animal health and animal welfare.
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The European regionat present holds the second largest spot in the global veterinary market and is anticipated to enjoy a healthy share of the global market during the forecast period. The availability of a number of advanced pet healthcare facilities and the accelerating rate of pet adoption has boosted the demand for the regional market. The trend is believed to continue past the projection period. Meanwhile, Asia Pacific is anticipated to garner a relatively high CAGR due to factors likeincreasing number of pet adoptions and expanding animal welfare programs.
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