CHICAGO, November 10, 2021 / PRNewswire / – According to new market research report, Veterinary Ultrasound Market By Type (2D, 3D-4D, Doppler), Product (Portable), Technology (Digital, Contrast Imaging), Animal Type (Small, Large), Application (Obstetrics, Cardiology & Orthopedics), End-User (Veterinary Clinics) – Global Forecast to 2026, “published by MarketsandMarkets ™, is expected to reach the global veterinary ultrasound market $ 456 million until 2026 $ 301 million in 2021 with a CAGR of 7.0% over the forecast period.
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The growth in this market is mainly driven by the growing pet population, growing numbers of veterinarians in developed countries, technological advances, and increasing demand for pet insurance and increasing pet care expenses. However, the high cost of instruments and procedures is expected to slow the growth of this market over the forecast period. The base year considered for the study is 2020, while the forecast period is 2021 to 2026.
By type, the 2D ultrasound segment accounted for the largest share of the veterinary ultrasound market in 2020.
According to type, the largest share was accounted for by the 2D ultrasound segment. The large share of this segment is due to the widespread use of 2D ultrasound in veterinary clinics due to its comparatively lower costs.
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The Veterinary Clinics segment is expected to experience the highest growth rate in the Veterinary Ultrasound market by end user over the forecast period
Based on the end user, the Animal Clinics segment is expected to experience the highest CAGR over the forecast period. Factors responsible for the growth of this segment are the widespread adoption of ultrasound in veterinary clinics and the growing number of veterinary clinics around the world.
North America dominated the veterinary ultrasound market in 2020
North America had the largest share of the veterinary ultrasound market in 2020, followed by Europe and Asia Pacific. The increasing number of veterinary practices, the growing population of pets and the increasing spending on animal health are key factors behind the large proportion of the population North America in the veterinary ultrasound market.
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Some of the most famous players in this market are GE Healthcare (USA), Esaote SpA (Italy), Shenzhen Mindray Biomedical Electronics Co., Ltd. (China), Siemens Healthineers (Germany) and FUJIFILM Holdings Corporation (Japan), Heska Corporation (USA), Samsung Medison Co., Ltd. (South Korea), Diagnostic Imaging Systems, Inc. (USA), IMV Imaging (Great Britain), Shenzhen Ricso Technology Co., Ltd. (China), DRAMIÑSKI SA (Poland) Higher mobile health (Canada), Shantou Institute of Ultrasonic Instruments Co., Ltd. (China), EI Medical Imaging (USA) and SonoScape Medical Corp. (China).
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