Animal/Veterinary Ultrasound Market Expected to Reach $0.5 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Animal/Veterinary Ultrasound Market," The animal/veterinary ultrasound market was valued at $0.2 billion in 2021, and is estimated to reach $0.5 billion by 2031, growing at a CAGR of 5.9% from 2022 to 2031.

Sonography, often known as an ultrasound scan, creates images using sound waves or echoes rather than radiation, making it a safe procedure. In addition to evaluating fetal development, ultrasound scans can spot issues with the liver, heart, kidneys, or abdomen. Further, they might help with some types of biopsies.

The availability of portable ultrasound devices, expansion in the adoption of companion animals increase in pet insurance purchases, and a rise in animal health spending is the main Veterinary Ultrasound Market Trends driving market growth in the Animal Ultrasound Market. The Animal Ultrasound Market is also developing as a result of the rise in the incidence of various types of animal diseases, including lung and gastrointestinal ailments.

The rise in cautiousness among owners about pet health fuels the growth of the Veterinary Ultrasound Industry. In addition, technological advancements in Veterinary Ultrasound Industry drive market growth. Moreover, diagnosis and treatment of animal ailments require a considerable amount of funds. The number of consumers seeking such services has increased, and are willing to spend more which flourishes the Veterinary Ultrasound Industry growth. However, the lack of availability of veterinary imaging systems considerably hinders the Veterinary Ultrasound Market Size. Conversely, the surge in awareness related to the importance of using ultrasound systems with an increasing number of skilled veterinary professionals in developing countries is a lucrative opportunity for market growth.

By type, the market is segmented into 2D ultrasound, Doppler ultrasound, and 3D/4D ultrasound. The 2D segment generated the maximum Veterinary Ultrasound Market Size in 2021, owing to cost-effectiveness and ease of availability. The 3D/4D ultrasound segment is expected to witness the highest CAGR  during the Veterinary Ultrasound Market Forecast period, owing to an increase in demand in developed nations.

By product, the market is bifurcated into cart-based ultrasound scanners and portable ultrasound scanners. The cart-based segment dominated the market in 2021 and is expected to witness the highest CAGR during the forecast period owing to increased demand in emergency rooms and intensive care units.

By end user, the market is divided into veterinary clinics, veterinary hospitals, and other end users. The veterinary clinics' segment dominated the Veterinary Ultrasound Market Share in 2021 and is expected to witness the highest CAGR during the forecast period owing to the increase in the number of veterinary clinics.

North America accounted for a majority of the global veterinary ultrasound market share in 2021 and is anticipated to remain dominant during the Veterinary Ultrasound Market Analysis period. This is attributed to technological advancements in Veterinary Ultrasound Industry, the integration of advanced devices and software processes in veterinary ultrasound devices, presence of key and robust hospital infrastructure in the region. However, Asia-Pacific is anticipated to witness notable growth, owing to a rise in pet adoption, the development of healthcare infrastructure, and an increase in investment projects in the region.

Key findings of the study

• By type, the 2D ultrasound segment was the highest contributor to the market in 2021.
• By product, the cart-based ultrasound segment was the highest contributor to the market in 2021.
• By end user, the veterinary clinics segment was the highest contributor in 2021 and is expected to continue this trend during the forecast period.
• Region wise, North America occupied the largest revenue share in 2021, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.