Animal Ultrasound Market Size to Reach USD 532.5 Million in 2028 Growing at a CAGR of 8.2%
Emergen Research has published its latest report titled “Animal Ultrasound Market, By Animal Type (Large Animals, Small Companion Animals), By Imaging Type (Doppler Imaging, 2D Ultrasound Imaging, 3D & 4D Ultrasound Imaging), By Scanner Type (Handheld Ultrasound Scanners, Cart-based Ultrasound Scanners), By Technology (Contrast Imaging, Digital Imaging, Microstream), By Application (Cardiology, Orthopedics, Obstetrics & Gynecology, Oncology, Others), By End-use (Veterinary Hospitals & Clinics, Academic & Research Centers, Clinical Laboratories, Point-of-care Facilities, Others), and By Region, Forecast to 2028”
According to Emergen Research, the global animal ultrasound market size was USD 286.2 Million in 2020 and is expected to reach USD 532.5 million in 2028 and register a revenue CAGR of 8.2% during the forecast period, 2021-2028.
Key factors contributing to the steady revenue growth of the global animal ultrasound market are rising adoption of pets and companion animals, growing prevalence of animal diseases, increasing expenditures on pet care and maintenance, and technological advances in veterinary ultrasound devices and techniques. Growing demand for animal derivatives such as dairy-based and meat products, increasing focus on improving the well-being and productivity of livestock – especially in mid-to-low-income countries where people predominantly engage in livestock businesses – and increasing availability of competent and experienced veterinarians, especially in developed countries with advanced healthcare infrastructure are among the other major factors driving the global animal ultrasound market revenue growth.
Moreover, rising trend of pet adoption amid the COVID-19 pandemic – which has allowed people to spend more time with their pets at home – improved living standards of people, rising disposable incomes, and growing availability of affordable pet insurance schemes and policies have further driven market revenue growth over the recent past.
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COVID-19 Impact Analysis:
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Small Companion Animals Segment Accounted for Largest Revenue Share in 2020:
Based on animal type, the global animal ultrasound market is segmented into large animals and small companion animals. The small companion animals segment accounted for the largest revenue share in the global market in 2020, owing to factors such as rising geriatric population, increasing adoption of companion animals such as dogs and cats – mostly in geriatric or palliative care centers – increasing prevalence of animal diseases, and rising expenditure on animal care & maintenance of these animals.
2D Ultrasound Imaging Segment to Account for Fastest Revenue CAGR:
Based on imaging type, the global animal ultrasound market is segmented into doppler imaging, 2D ultrasound imaging, and 3D & 4D ultrasound imaging. The 2D ultrasound imaging segment is projected to register the fastest revenue growth rate in the global market over the forecast period. Factors expected to boost this segment’s revenue growth are rapid adoption of 2D ultrasound imaging devices in veterinary hospitals & clinics for disease diagnostics and prenatal screening procedures, and lower costs of 2D ultrasound imaging solutions compared to other ultrasound imaging techniques.
North America Market Accounted for Largest Revenue Share in 2020:
Among regional markets, the North America animal ultrasound market dominated other regions in terms of revenue share in the global market in 2020. Increased spending on veterinary healthcare infrastructure development, rising number of veterinary hospitals & clinics, growing adoption of pets and companion animals, and increasing prevalence of animal diseases are some of the major factors driving revenue growth of the North America market.
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Major Companies in the Global Animal Ultrasound Market Include:
- IDEXX Laboratories, Inc.
- Carestream Health, Inc.
- Fujifilm Holdings Corporation
- Esaote SpA
- GE Healthcare
- Heska Corporation
- Diagnostic Imaging Systems, Inc.
- Clarius Mobile Health Corp.
- Dramiñski S.A.
- Hallmarq Veterinary Imaging Limited
For the purpose of this report, Emergen Research has segmented the global animal ultrasound market based on animal type, imaging type, scanner type, technology, application, end-use, and region:
Animal Type Outlook (Revenue, USD Million; 2018–2028)
- Large Animals
- Small Companion Animals
Imaging Type Outlook (Revenue, USD Million; 2018–2028)
- Doppler Imaging
- 2D Ultrasound Imaging
- 3D & 4D Ultrasound Imaging
Scanner Type Outlook (Revenue, USD Million; 2018–2028)
- Handheld Ultrasound Scanners
- Cart-based Ultrasound Scanners
Technology Outlook (Revenue, USD Million; 2018–2028)
- Contrast Imaging
- Digital Imaging
Application Outlook (Revenue, USD Million; 2018–2028)
- Obstetrics & Gynecology
End-use Outlook (Revenue, USD Million; 2018–2028)
- Veterinary Hospitals & Clinics
- Academic & Research Centers
- Clinical Laboratories
- Point-of-care (POC) Facilities
By Region (Revenue, USD Million; 2018–2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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