(MENAFN- GlobeNewsWire - Nasdaq) Dublin, April 19, 2024 (GLOBE NEWSWIRE) -- The "Veterinary Ultrasound - Global Strategic Business Report" report has been added to ResearchAndMarkets's offering.
Global Veterinary Ultrasound Market to Reach $509.7 Million by 2030
The global market for Veterinary Ultrasound estimated at US$323.6 Million in the year 2023, is projected to reach a revised size of US$509.7 Million by 2030, growing at a CAGR of 5.8% over the analysis period 2023-2030. The report begins with an introduction to veterinary ultrasound, highlighting its critical role as a diagnostic tool in animal healthcare. Amidst a global economic update, the market overview underscores significant growth in the global veterinary ultrasound market. Cart-based scanners and small animal applications, particularly in veterinary clinics, dominate market segments, while portable ultrasound systems offer distinct advantages. Within ultrasound technology, 2D systems lead the global market.
2D Ultrasound, one of the segments analyzed in the report, is projected to record 6.6% CAGR and reach US$227.1 Million by the end of the analysis period. Growth in the 3D / 4D Ultrasound segment is estimated at 5.5% CAGR for the next 8-year period.
The U.S. Market is Estimated at $120.7 Million, While China is Forecast to Grow at 7.4% CAGR
Veterinary clinics are identified as the primary end-users, with North America leading the market, although Asia-Pacific shows promise, especially in China. Pet spending statistics in the US reflect the growing importance of animal healthcare. The report anticipates fast revenue growth in the Asia-Pacific region, presenting lucrative opportunities, and concludes with a positive market outlook, emphasizing the dynamic drivers propelling growth in the veterinary ultrasound market amidst recent market activity and the influx of new solutions.
The Veterinary Ultrasound market in the U.S. is estimated at US$120.7 Million in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$54.3 Million by the year 2030 trailing a CAGR of 7.4% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.6% and 5.6% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 5.3% CAGR.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 554 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $323.6 Million |
| Forecasted Market Value (USD) by 2030 | $509.7 Million |
| Compound Annual Growth Rate | 6.7% |
| Regions Covered | Global |
MARKET OVERVIEW
Veterinary Ultrasound - Global Key Competitors Percentage Market Share in 2023 (E) Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E) A Prelude to Veterinary Ultrasound Ultrasonography- A Critical Diagnosis Tool Global Economic Update Market Overview and Prospects Global Veterinary Ultrasound Market Exhibits Significant Growth Cart-based Scanners, Small Animals & Vet Clinics: Segments Holding Lion's Share of Veterinary Ultrasound Market Portable Veterinary Ultrasound Systems Highly Advantageous 2D Ultrasound to Command Global Market Veterinary Clinics Remain Primary End-User North America Rules while Asia-Pacific Emerges as Dark Horse in Veterinary Ultrasound Market Pet Spending Statistics in the US Asia-Pacific to Exhibit Fastest Revenue Growth, China to Offer Lucrative Growth Opportunities Veterinary Ultrasound Remains Highly Rewarding Avenue for Market Participants Recent Market Activity Influx of New Solutions Market Outlook Veterinary Ultrasound Market: Halcyon Days Ahead With Dynamic Drivers WORLD BRANDS
MARKET TRENDS & DRIVERS
Rise in Pet Ownership Spurs Demand for Pet Care Products Global Pet Dog Population: Top Countries Ranked by Number of Pet Dogs (in Million) Global Pet Cat Population: Top Countries Ranked by Number of Pet Cats (in Million) Global Pet Birds Population: Top Countries Ranked by Number of Pet Birds (in Million) Growing Pet Care Market Drives the Demand for Veterinary Ultrasound Market High Pet Health Awareness Rising Companion Animal Population Offers Immense Growth Potential Focus on Improving Livestock Health in Emerging Countries Presents Untapped Growth Opportunities Aging Pet Population & Concerns Over Pet Obesity to Widen the Prospects Rising Prevalence of Animal Diseases Augurs Well Select Health Disorders & Diseases Prevalent in Pet Dogs and Pet Cats Increasing Prevalence of Cancer in Companion Animals to Fuel Adoption Driven by Rising Prevalence of Zoonotic and Foodborne Diseases, Spending on Pet Care Rises Veterinary Ultrasound Innovation on a New High with Interesting Developments Veterinary Ultrasound: Distinct Requirements for Small & Large Animals Contrast Imaging to Post Impressive Growth Small Companion Animal Segment Holds Major Value Share Cardiology Segment to Witness Significant Growth Pet Insurance Finds Acceptances among Pet Owners Global Pet Insurance Market by Sales Channels, 2020E US Pet Insurance Breaks All Records Rising Pet Care Expenses Drive Demand for Pet Insurance Covid-19 Outbreak Benefits Pet Insurance Towards a Uniform Regulatory Framework Advent of Innovative Technologies Improves Veterinary Treatment Services Technological Advancements and New Product Launches Augurs Well for the Market Latest Ultrasound Systems Facilitate Quick Diagnosis Growing Use of Technologies Offers Better Quality of Life for Animals Cloud-Based Veterinary Practice Management Software Provides Various Benefits Developing World Witnesses Increase in Veterinary Practitioner Numbers Demand for Veterinarians Set to Increase in the US
FOCUS ON SELECT PLAYERS (Total 65 Featured)
Boston Scientific Corporation Carestream Health, Inc. Esaote SpA Contec Medical Systems Co., Ltd. EDAN Instruments, Inc. BenQ Medical Technology Corporation Echo-Son SA Biovet Inc. Chengdu Seamaty Technology Co., Ltd. Dre Veterinary, Inc. BMV Technology Co., Ltd. Clarius Mobile Health Corporation Draminski SA Chison Medical Imaging Co., Ltd. Bionet Company Limited
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Veterinary Ultrasound Market
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