Portland, OR, Nov. 02, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global Animal/Veterinary Ultrasound Market generated USD 0.2 billion in 2021, and is estimated to reach USD 0.5 billion by 2031, witnessing a CAGR of 5.9% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Market Size in 2031 | $0.5 Billion |
| CAGR | 5.9% |
| No. of Pages in Report | 290 |
| Segments covered | Type, Product, End User, and Region |
| Drivers | Increase in the prevalence of veterinary diseases. |
| Rise in demand for advanced veterinary ultrasound tools. | |
| Favorable government policies for veterinary care. | |
| Increase in the number of veterinary hospitals. | |
| Rise in the adoption of companion animals and concern regarding their health. | |
| Technological developments in veterinary imaging systems. | |
| High cost associated with the diagnosis and treatment of animal illnesses. | |
| Opportunities | Growing number of skilled veterinary practitioners in the developing nations. |
| Rise in awareness regarding the importance of using ultrasound devices. | |
| Restraints | Unavailability of veterinary imaging systems. |
Covid-19 Scenario:
- The outbreak of the COVID-19 pandemic caused a huge number of clinics and veterinary clinics across the globe to restructure to increase hospital capacity for patients diagnosed with COVID-19. Non-essential procedures including diagnosis of veterinary diseases were given less priority, owing to the rapidly rising COVID-19 cases.
- Moreover, the imposition of lockdown led to the disruption of manufacturing and transportation of healthcare essentials, thus impacting the global animal/veterinary ultrasound market.
- Furthermore, other factors responsible for the impact on the market include limited availability of medical care, shortage of healthcare staff, and rise in the burden of COVID-19-related hospitalization.
- However, few people visited hospitals and clinics as a result of the enactment of lockdowns in various nations that led to travel and movement restrictions, severe social distancing rules in public places, and infection concerns.
The report offers a detailed segmentation of the global animal/veterinary ultrasound market based on type, product, end user, and region. The report provides analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
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Based on type, the 2D ultrasound segment held the largest share in 2021, contributing to more than two-fifths of the global animal/veterinary ultrasound market share, and is likely to maintain its leadership status during the forecast period. However, the 3D/4D ultrasound segment is expected to manifest the highest CAGR of 6.6% from 2022 to 2031. The report also studies the doppler ultrasound segment.
Based on product, the cart-based ultrasound scanners segment held the largest share in 2021, accounting for more than three-fifths of the global animal/veterinary ultrasound market share, and is expected to rule the roost throughout the forecast period. Moreover, the same segment is estimated to witness the highest CAGR of 6.3% during the forecast period. The report also offers an analysis of the portable ultrasound scanners segment.
Based on end user, the veterinary clinics segment was the largest market in 2021, contributing to more than half of the global animal/veterinary ultrasound market share and would maintain its leadership status through the forecast period. The same segment is expected to manifest the fastest CAGR of 6.3% during the forecast period. The report also includes other segments such as veterinary hospitals and other end users.
Based on region, North America held the largest share in 2021, accounting for nearly half of the global animal/veterinary ultrasound market share and is likely to lead the trail during the forecast period. However, the market across Asia-Pacific is projected to portray the fastest CAGR of 7.2% during the forecast period. The research also analyzes regions such as Europe and LAMEA.
Leading players of the global animal/veterinary ultrasound market analyzed in the research include IDEXX Laboratories, Carestream Health, Inc., Esaote SpA, SOUND Technologies, FUJIFILM Sonosite, Inc., Hallmarq Veterinary Imaging Limited, Boating, Camping and Fishing Store Online (BCF (IMV Imaging)), Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Siemens Medical Solutions USA, Inc., and Heska Corp.
The report analyzes these key players of the global animal/veterinary ultrasound market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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