Veterinary Ultrasound Scanner Market

Veterinary Ultrasound Scanner Market Outlook for 2023 to 2033

The veterinary ultrasound scanner market is set for significant expansion, with an anticipated valuation of USD 198.1 million by 2023. The market displays a significant trend, featuring a CAGR of 3.7%, expected to endure until 2033. The consistent growth forecasts indicate that the global veterinary ultrasound scanner market is poised to achieve an impressive valuation of USD 284.8 million by 2033.

Key Market Trends and Highlights

• The veterinary ultrasound market experiences notable growth propelled by advancements like wireless streaming on IBEX® PRO and LITE models. Innovations such as the OsiriX® viewer for dogs contribute to accurate and reproducible CT prostate volume assessment, reducing dependence on human observation.
• The market encounters a shift in growth rates attributed to the slow adoption of ultrasound scanners in the first half of the forecast period. Factors include sluggish technological advancements and a low pet adoption rate, particularly during the COVID-19 pandemic.

Attributes	Key Insights
Market Estimated Size in 2023	USD 198.1 million
Projected Market Size in 2033	USD 284.8 million
Value-based CAGR from 2023 to 2033	3.7%

2018 to 2022 Historical Analysis vs. 2023 to 2033 Market Forecast Projections

The global veterinary ultrasound scanner market insights scope rose at a 4.6% CAGR between 2018 and 2022. The veterinary ultrasound scanner market is anticipated to develop at a CAGR of 3.7% over the forecast period from 2023 to 2033.

Attributes	Details
Market Value in 2018	USD 158.5 million
Market Value in 2022	USD 189.9 million
CAGR from 2018 to 2022	4.6%

The veterinary industry has experienced a significant boost in recent years, driven by substantial pet adoption and ownership growth. From 2018 to 2022, animal ultrasound scanner sales surged at a CAGR of 4.6%, reaching a market value of USD 189.9 million by the end of 2022.

The global rise in the population of companion animals has not only impacted the pet care and insurance markets. Still, it has also catalyzed technological advancements in veterinary care. These advancements have, in turn, fueled the demand for veterinary ultrasound scanners.

Several factors contribute to the positive market trajectory, including increased consumer spending on pet care, a growing population of pet companions, a rise in the number of veterinary practitioners, increased pet ownership, and a heightened awareness of pet health. This confluence of factors positions the veterinary ultrasound scanners market for sustained growth in the coming years.

Veterinary Ultrasound Scanner Market Drivers

• The increasing demand for pet insurance is a key driver, emphasizing the growing importance of healthcare coverage for companion animals.
• Ongoing technological progress, especially in developing countries, is fueling demand as veterinary specialists seek advanced diagnostic tools, boosting the adoption of ultrasound scanners.
• The rise in zoonotic diseases among pets amplifies the need for accurate diagnostics, driving the demand for veterinary ultrasound scanners to facilitate early detection and management.
• The increasing disposable income of pet owners contributes to a higher willingness to invest in advanced healthcare services, including diagnostic technologies like ultrasound scanners.

Veterinary Ultrasound Scanner Market Restraints

• The elevated cost of veterinary ultrasound instruments is a significant restraint, limiting the market growth as it may hinder accessibility for specific practitioners.
• The increasing cost of overall animal care, including diagnostics, can deter pet owners and veterinary facilities, posing a challenge to the widespread adoption of veterinary ultrasound scanners.
• Insufficient awareness and knowledge about animal health and diseases hinder market growth, as pet owners may not fully appreciate the benefits of advanced diagnostic tools.
• The underdeveloped state of pet healthcare systems in specific countries impedes market growth, restricting the availability and adoption of veterinary ultrasound scanners.

Country-wise Insights

The below table showcases revenues in terms of the five countries spearheaded by the United States, China, the United Kingdom, Germany, and India.

CAGR by 2023

The United States	1.7%
The United Kingdom	2.4%
Germany	2.2%
India	4.8%
China	5.5%

Surge in Pet Adoption and Ownership Raises the China Market

The pet care industry in China is poised for significant growth, driven by a surge in pet adoption and ownership. The younger population, particularly Chinese millennials, is increasingly opting for pets over traditional family structures, contributing to a notable rise in single-person households.

This shift in lifestyle choices, marked by a preference for living alone and a rising divorce rate, fosters a growing trend of pet ownership in China. As more individuals embrace pets as companions, the demand for veterinary services, including animal ultrasound scanners, is expected to escalate.

The changing demographic landscape and cultural shifts are anticipated to boost the sales of veterinary ultrasound scanners, especially portable ones, reflecting the evolving dynamics of pet care in the country. China accounts for 5.5% CAGR of the global animal ultrasound scanner sales revenue, signaling its growing prominence in the veterinary healthcare market.

Rise In Pet Companion Population Boosts the Growth of the United States Industry

The United States is witnessing a uptick in the shipments of veterinary ultrasound scanners at 1.7% CAGR, driven by the increasing pet companion population in the nation. The rising prevalence of emotional issues has spurred a growing adoption of pets as companions for emotional and assistive support, amplifying the demand for enhanced pet care services.

This shift in societal trends has led to an increased focus on pet health awareness, further fueling the demand for advanced veterinary diagnostic tools such as ultrasound scanners. Notably, portable veterinary ultrasound machines are gaining prominence in the United States market, reflecting the evolving preferences and demands in pet healthcare.

As pet ownership continues to rise and awareness about pet health grows, the trajectory of veterinary ultrasound scanner sales in the United States is expected to maintain an upward trend.

Increase in Advanced Diagnostic Tools Helps in the Development of the United Kingdom Market

In the United Kingdom, a growing emphasis on pet health and well-being is contributing to the increased adoption of pets, driving the demand for veterinary ultrasound scanners. The nation robust pet insurance market further supports the inclination towards advanced diagnostic tools.

The rising trend of pet ownership and the desire for comprehensive healthcare solutions for animals are propelling the veterinary ultrasound scanners market in the United Kingdom.

Rise in Income Levels and Higher Standard of Living in Germany

Germany, with its flourishing economy and high living standards, is witnessing a surge in demand for veterinary ultrasound scanners. The country commitment to animal welfare and advanced veterinary care aligns with the increasing adoption of pets.

The rise in zoonotic diseases and a well-established veterinary healthcare system contribute to the growing market for ultrasound scanners in Germany.

Evolvement of the Pet Care Landscape in India

India, a rapidly expanding population, sees rising disposable incomes and a growing awareness of pet health are driving the veterinary ultrasound scanners market.

The cultural shift towards viewing pets as family members fosters a greater focus on their well-being. As the middle-class population expands, more individuals are opting for pets, stimulating the demand for advanced diagnostic tools, including ultrasound scanners. The evolving pet care landscape in India positions the market for substantial growth.

Category-wise Insights

The table below highlights how portable/handheld ultrasound scanners are projected to lead the product type market, expanding at a market share of 86.5% in 2023. The table further details how digital imaging technology is anticipated to witness a market share of 93.7% in 2023.

Category	Market Share in 2023
Portable/Hand Held Ultrasound Scanner	86.5%
Digital Imaging Technology	93.7%

Rising Demand for Portable Veterinary Ultrasound Scanners

The global veterinary ultrasound scanners market is witnessing a surge in the popularity of portable devices with a market share of 86.5%. Portable veterinary ultrasound scanners have emerged as a dominant force, gaining favor among veterinary practitioners and medical establishments.

These portable scanners compact design and advanced technology drive their widespread adoption in the veterinary field.

Anticipated technological advancements and continuous product innovations are poised to propel the sales of portable veterinary ultrasound scanners.

The convenience, flexibility, and efficiency offered by these devices make them a preferred choice for veterinary professionals, contributing to their increasing dominance in the market.

Digital Imaging Technology Holds a Crucial Position in the Market

Digital imaging technology plays a pivotal role in the veterinary ultrasound scanners market, revolutionizing diagnostic capabilities in animal healthcare with a market share of 93.7%. Adopting digital imaging in veterinary ultrasound scanners has transformed how veterinary practitioners assess and diagnose animal medical conditions. This technology uses electronic detectors to capture and produce high-quality images with enhanced clarity and precision.

Digital imaging technology ensures superior image quality, providing detailed and accurate visuals of animal internal structures. This enhanced clarity aids veterinarians in making more accurate diagnoses. Digital images can be easily stored electronically, allowing efficient data management.

Veterinary professionals can access patient records, compare images over time, and share diagnostic information seamlessly. Digital imaging technology facilitates incorporating advanced features such as color Doppler, 3D/4D, and contrast-enhanced imaging. These capabilities offer a comprehensive understanding of anatomical structures and blood flow patterns.

Competitive landscape

Many key veterinary ultrasound scanner manufacturers are inclined to invest significantly in innovation, research, and development practices to uncover increased applications of veterinary ultrasound scanners. With technology, players also focus on ensuring safety, quality, and customer satisfaction to captivate an increased customer base. Some of the latest developments include

• In November 2022, Advanced Veterinary Ultrasound (AVU) and Draminski SA partnered to provide feature-rich POCUS systems to the veterinary market. AVU will market, sell, and service Draminski's portable ultrasound systems.
• In February 2033, Hitachi, Ltd announced that it will strengthen its business structure to evolve the social innovation business further and achieve growth, focusing on digital, environment, and innovation in its next Mid-term Management Plan.

Market Report Scope

Attributes	Details
Estimated Market Size in 2023	USD 198.1 million
Projected Market Valuation in 2033	USD 284.8 million
CAGR Share from 2023 to 2033	3.7%
Forecast Period	2023 to 2033
Historical Data Available for	2018 to 2022
Market Analysis	Value in USD million
Key Regions Covered	North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; The Middle East & Africa
Key Market Segments Covered	Product Type, Imaging Technology, End User, Region
Key Countries Profiled	The United States, Canada, Brazil, Mexico, Germany, The United Kingdom, France, Spain, Italy, Russia, Poland, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC countries, South Africa, Israel
Key Companies Profiled	Siemens AG; Mindray Medical International Limited; Hitachi Ltd.; Fujifilm Holdings Corporation; General Electric Company; Canon Inc.; Samsung Electronics Co. Ltd.; Esaote SpA; DRAMI?SKI S. A.; IMV Technologies SA

Key Segments of Veterinary Ultrasound Scanners Industry Survey

By Product Type:

• Portable/Hand Held Ultrasound Scanners
• Cart Based Ultrasound Scanners

By Imaging Technology:

• Digital Imaging Technology
• Analog Imaging Technology
• Contrast Imaging Technology

By End User:

• Veterinary Hospitals
• Veterinary Clinics
• Animal Breeding and Farms

By Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• South Asia and Pacific
• East Asia
• The Middle East & Africa

Frequently Asked Questions

Which Product Type is Projected to lead the market?

The portable/handheld ultrasound scanner leads the market with 86.5% in 2023.

Which is the Top Key Segment by Imaging Technology?

Digital imaging technology is preferred with a share of 93.7% in 2023.

What Limits the Growth Potential of the Market?

The high cost of veterinary ultrasound scanners limits the growth of the market.

Which is the Top Driver in the Market?

Using ultrasound scanners in veterinary medicine for minimally invasive diagnostic and therapeutic procedures drives market.

Who are the Key Market Players of the Market?

General Electric Company, Canon Inc., and Samsung Electronics Co. Ltd. are the key market players.