the animal ultrasound market refers to the market for ultrasound equipment used for the diagnosis and monitoring of animal health. Ultrasound technology uses high frequency sound waves to create images of the internal structures of animals. These images are used by veterinarians to diagnose and monitor various conditions, including pregnancy, cardiovascular disease, and cancer.
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Analysis of the US animal ultrasound market
Due to increasing expenditure on veterinary care and the existence of key competitors in the United States, the country’s market accounted for the largest global share of over 31.6% in 2020. Additionally, the growing number of pet owners in the country, together with the increased use of pet insurance, is likely to drive the expansion of the market.
Analysis of the UK animal ultrasound market
Animal ultrasound is very popular in the UK due to the large expenditure on pet care in the country. The presence of the Animal Ultrasound Association in the country has been further strengthened, providing fertile ground for animal ultrasound to flourish. The UK animal ultrasound market was valued at US$8.8 million in 2021. Growing at a CAGR of 14.3% US$ between 2022 and 2032, the country’s market is expected to reach a valuation of US$36.6 million by 2032.
Japan Animal Ultrasound Market Analysis
The penchant for pets in Japan can be gauged from the fact that it is the only country in the world where pets outnumber children. According to the Japan Pet Food Association, the country is populated by 17 million children under the age of 16, while it has nearly 20 million cats and dogs. With these statistics, the animal ultrasound market in Japan is expected to reach a valuation of US$34.3 million by 2032, growing at a CAGR of 15.2% from 2022 to 2032.
Analysis of the animal ultrasound market in South Korea
Animal Ultrasound Market in South Korea was valued at US$4.6 Million in 2021. The country’s market is expected to reach a valuation of US$20 Million by 2032, growing at a CAGR by 14.8% from 2022 to 2032.
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Market segmentation :
The animal ultrasound market can be segmented on the basis of product type, animal type, and end user. By product type, the market can be segmented into Portable Ultrasound Machines, Trolley Mounted Ultrasound Machines, and Portable Ultrasound Machines. By animal type, the market can be segmented into companion animals, livestock and others. By end-user, the market can be segmented into veterinary clinics, veterinary hospitals, and research laboratories.
Regional analysis:
North America is expected to dominate the animal ultrasound market, followed by Europe and Asia-Pacific. The growth of the market in North America can be attributed to the growing adoption of companion animals, increasing prevalence of animal diseases, and favorable government initiatives to promote animal health.
Competitive analysis
Some of the key players in animal ultrasound market are IDEXX, Carestream Health; Esaote SpA; Her; Fujifilm Sonosite, Inc.; Hallmarq Veterinary Imaging; BCF (IMV Imaging); Shenzhen Mindray Bio-Medical Electronics Co., Ltd. ; Siemens Medical Solutions; and Heska Corp.
Some of the recent developments in the animal ultrasound market are:
In June 2019 Fujifilm Sonosite and Partners Healthcare, a US-based company, have partnered to improve the design of ultrasound projects using artificial intelligence.
In September 2019 E. I Medical Imaging, one of the best-known vendors, has unveiled the IBEX PRO, a brand new ultrasound scanner.
In November 2019 the most popular Butterfly Network has launched its new product Butterfly iQ Vet, which uses microchip technology to scan animals ranging from companions to huge and exotic animals using a single probe.
In August 2020 IDEXX Laboratories, Inc. announced the launch of the ImageVue DR30 digital imaging system, expanding its imaging offering.
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