Animal/Veterinary Ultrasound utilizes ultrasonic sound waves in the frequency range of 1.5–15 megahertz (MHz) to help in creating images of body structures, which are based on the pattern of echoes reflected from the tissues and organs being imaged. An ultra-short pulse of sound is directed into the animal, after which the transducer changes to the receive mode. Eventually, echoes occur as the sound beam changes velocity while passing from a tissue of one density to one of another density, even when the modification occurs at nearly microscopic levels. A minor percentage of these echoes are reflected back to the transducer, which then reconverts the energy of the echoes into electrical impulses documented by the computer in the ultrasound machine. Using this information from multiple echoes, the machine creates an image that signifies the appearance of the tissues when cut in the same plane on an anatomic specimen.

Market scope and structure analysis:

COVID-19 scenario analysis:

Coronavirus disease 2019 (COVID-19) has caused an economic crisis along with a health care crisis. Due to the government enforcement to follow social distancing causing the major players to get affected and hence causing economic crisis in the health care sector.  Covid-19 pandemic has an adversative impact on the healthcare system, owing to about 50% to 70% drop in revenue from March. There are small hospitals, clinics and nursing homes, which have been forced to seal their operations. Owing to the social distancing and localized curfews, which have resulted in delayed elective surgical procedures, would lead to a downfall in the majority of the industries. In addition, the visa cancellations have caused reduction in medical tourism and can negatively impact the healthcare services market growth.

Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

The major factors that are expected to help the Animal/Veterinary Ultrasound market grow include increase in the demand for pet insurance, healthcare expenditure on the companion animals and rise in the number of companion animals. Furthermore, the steep increase in the technological advancements would help the market boost in the coming years. The growth in the number of veterinary practitioners in developed economies is also expected to help the market grow at a higher pace in the near future. However, the higher cost of the procedures and the instruments used are anticipated to curb the market growth in the commenced period.

New product launches to flourish the market

The key factor which is anticipated to help the Animal/Veterinary Ultrasound market grow includes the rise in the number of product launch planned by the major market players. For instance, in September 2018, E.I. Medical imaging, which is among the leading U.S.-based company that manufactures portable ultrasound systems for veterinary use, announced that it has brought its new product called Ibex Pro-R and SuperLite ultrasound systems.

Furthermore, in November 2019, Butterfly Network announced that it will launch its new product called Butterfly iQ Vet. This product is an all-new handheld ultrasound device that brings the company’s revolutionary ultrasound-on-a-chip technology to veterinarians and animals. The innovation with this single probe, and smartphone-connected device, veterans will be able to scan a variety of animals with extraordinary portability. Butterfly iQ Vet can scan animals ranging from companion animals (dogs and cats) to large animals (horses) and further to exotic animals (from sea turtles to tigers).

Surge in mergers and acquisitions to boost the market

The growth in the number of agreements made to show their presence in the market would help the market gain maximum revenue in the forecast period. For instance, in July 2019, FUJIFILM Sonosite, Inc. announced that it made a partnership deed with HealthCare to apply artificial intelligence (AI) to improve POCUS. Furthermore, two companies declared that they will collaborate to use AI-based models that will help the clinicians in diagnosis and enhancing quality of care. The collaboration will be performed through the MGH & BWH Center for Clinical Data Science and influence the extensive data assets, computational infrastructure, and also clinical expertise of the Partners HealthCare system.

In addition, in April 2018, Esaote announced it was acquired by an association of Chinese investors composed of numerous major companies in the medical field and investment funds. Genoa, Italy-based Esaote yields medical devices with a focus on ultrasound, dedicated magnetic resonance imaging and diagnostic management software. The expansion would help the Animal/Veterinary Ultrasound market grow in the coming years.

Key segments covered:

Key benefits of the report:

• This study presents the analytical depiction of the global Animal/Veterinary Ultrasound industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global Animal/Veterinary Ultrasound market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the global Animal/Veterinary Ultrasound market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the Animal/Veterinary Ultrasound market.
• The report provides a detailed global Animal/Veterinary Ultrasound market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions answered in the Animal/Veterinary Ultrasound Market research report:

• What are the leading market players active in the Animal/Veterinary Ultrasound market?
• What the current trends will influence the Animal/Veterinary Ultrasound market in the next few years?
• What are the driving factors, restraints, and opportunities in the Animal/Veterinary Ultrasound market?
• What are the projections for the future that would help in tasking further strategic steps?