San FranciscoAnd January 18 2022 /PRNewswire/ – Today released a new market study published by Global Industry Analyst Inc. (GIA), the leading market research company, released its report titled Veterinary Ultrasound – Global Market Path and Analytics. The report offers fresh perspectives on opportunities and challenges in the dramatically altered post-COVID-19 market.
A glimpse of the facts
Version: 8; chest: January 2022
Executive pool: 1241
companies: 65 – Players covered include BMV Technology Co., Ltd. Clarios Mobile Health; Diagnostic Imaging Systems, Inc. DRAMINSKI SA; EI medical imaging; Aidan Instruments, Inc. Esote Spa; Fujifilm Holdings GE Healthcare; Heska and others.
coverage: All major geographies and major sectors
Slides: Type (2D ultrasound, 3D/4D ultrasound, Doppler ultrasound); product (trolley-based, portable); Application (obstetrics/gynecology, cardiology, orthopedics, other applications); End use (veterinary clinics, veterinary hospitals and academic institutes, other end uses)
Geographical areas: Globalism; United States of America; Canada; Japan; China; Europe (France; Germany; Italia; United kingdom; Spain; Russia; and the rest Europe); Asia Pacific (Australia; India; South Korea; and the rest Asia Pacific); Latin america (Argentina; Brazil; Mexico; and the rest Latin america); Middle east (Iran; Israel; Kingdom Saudi Arabia; The United Arab Emirates; and the rest Middle east); And Africa.
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Veterinary Ultrasound Market Access 392.6 million USD by 2026
Veterinary ultrasound devices rely on ultrasound in the 1.5-15MHz range to produce images of internal organs or structures based on the waves being reflected off the target tissues or organs. The imaging method provides veterinary practitioners with real-time images to obtain the required information about the organs. Veterinary ultrasound scanners are also used to guide users in taking fluid or tissue samples. The expansion of the market is expected to be supported by increased adoption of pets and pets, advances in technology, an increase in the number of veterinary clinics and hospitals, and an increase in the uptake of pet insurance. The growth of the market is being driven by the increase in the number of companion animals along with the continuous expansion of the areas of pet care and pet insurance. The rising expenditure of owners on pets combined with the increased awareness regarding animal health and safety continues to be a major contributor to the increased adoption of veterinary ultrasound devices. Technological advances and the increasing number of veterinary professionals, especially in developing countries, are fueling market growth. These devices also gain access to advanced portable scanners and increased disposable income. Government schemes and initiatives across countries targeting animal healthcare are expected to bode well for the global market. In addition, increasing incidences of zoonoses or animal diseases are expected to drive adoption of veterinary ultrasound scanners and drive revenue growth. The rise in the number of pets coupled with the increasing prevalence of cancer and cardiovascular disorders among livestock and pets is complementing the market growth.
Amidst the COVID-19 crisis, the global veterinary ultrasound market is estimated at 274.2 million USD In 2020, it is expected to reach a revised size of 392.6 million USD By 2026, at a compound annual growth rate of 6.1% during the analysis period. 2D ultrasound, one of the sectors analyzed in the report, is expected to grow at a compound annual growth rate of 7% to reach 180.6 million US dollars at the end of the analysis period. After a comprehensive analysis of the business implications of the epidemic and the economic crisis caused by it, the growth in the 3D and 4D ultrasound segment was readjusted to a compound annual growth rate of 5.8% for the next seven years. This segment currently accounts for 34.7% of the global veterinary ultrasound market. The growth of the 2D ultrasound segment is being boosted by widespread uptake of the imaging technology due to its relatively affordable nature. 2D ultrasound is widely used among veterinary practitioners to detect pregnancy and diagnose diseases. The veterinary ultrasound market is expected to receive a significant contribution from the increased uptake of 3D and 4D ultrasound imaging options. These sectors are expected to benefit from continued technological developments along with the increased acceptance of 3D ultrasound imaging systems.
The US market is estimated at 107.7 million dollars In 2021, while it is expected to arrive in China 39.2 million dollars by 2026
The US veterinary ultrasound market is estimated at 107.7 million USD In 2021. The country currently holds 37.67% of the world market share. China, the world’s second largest economy, is expected to reach an estimated market size of 39.2 million USD in 2026 lagging a compound annual growth rate of 8.1% during the analysis period. Among other noteworthy geomarkets Japan And Canada, both are expected to grow by 4.8% and 5.9%, respectively, during the analysis period. inside EuropeAnd Germany It is expected to grow at around 5.5% compound annual growth rate while the rest of the European markets will reach (as defined in the study) 30.3 million US dollars at the end of the analysis period. Leading the global veterinary ultrasound market North America Which claims the main revenue share due to the high adoption rate of pets and companion animals as well as the increase in the number of veterinary clinics and hospitals. The region is seeing increasing investments in veterinary healthcare infrastructure and advanced methods such as ultrasound scanners. The regional market is supported by the continued expansion of pet insurance and the increasing incidence of veterinary diseases such as specific disorders and internal injuries in livestock and pets. Veterinary Ultrasound Market In Asia Pacific It is expected to experience the fastest revenue growth in the coming years due to increased pet adoption, increased livestock population, rapid urbanization, increased awareness about animal health, and increased spending on animal health. The regional market is being boosted by access to affordable pet health products and an increased focus on research activities along with a rising number of veterinary clinics and hospitals.
Doppler ultrasound piece to reach $89.8 million by 2026
In the Department of Global Doppler Ultrasound, United States of AmericaAnd CanadaAnd JapanAnd China And Europe It will lead the 4.9% estimated compound annual growth rate (CAGR) for this segment. These regional markets represent the aggregate market size of 57 million US dollars In 2020, the expected volume will reach 79.6 million USD at the end of the analysis period. China It will remain among the fastest growing in this group of regional markets. led by countries like AustraliaAnd India, And South Korea, the market in Asia Pacific expected to arrive 5.8 million USD By 2026 when Latin america It will expand at a compound annual growth rate of 6.1% during the analysis period. more
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SOURCE Global Industry Analyst, Inc.