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Veterinary Ultrasound Devices Market - Growth, Trends, and Forecast (2020-2025)

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  • 115 Pages
  • May 2020
  • Region: Global
  • Mordor Intelligence
  • ID: 4987138
Rise in prevalence of various internal injuries along with other diseases, including blood in abdomen, cysts, and cancer in companion animals, such as cats, dogs, horses, as well as livestock animals, such as cattle, swine etc., along with the rise in demand for diagnosis of those diseases are expected to propel the market growth. An ultrasound machine helps the doctors in detecting tumors in certain internal areas of the body, which cannot be observed well on x-rays. In many instances, the veterinarians use ultrasound, in order to guide a needle while performing a biopsy. Ultrasound devices are widely used, owing to the fact that it is a risk-free and pain-free way to look at the internal organs of the animal body. Ultrasounds are also sometimes preferred, as it is usually quick and as it requires no special preparation, in most cases.

Any disorder associated with the generation of fluid-filled cysts can be diagnosed using ultrasound devices better than that having solid tumors, as very different echo patterns are made by ultrasound. This gives rise to the demand for diagnosis of certain animal diseases using ultrasound devices. Moreover, as per the disease prevalence data published by the Royal Veterinary College, University of London, in 2013, out of 1000 surveyed animals, it is estimated that 55 dogs suffer from traumatic injury and 39 dogs suffer from heart (cardiac) murmur. In addition to the aforementioned factor, the increase in animal adoption and technological advancements are expected to fuel the growth of the veterinary ultrasound devices market over the forecast period.

Key Market Trends

Small Animals Segment is expected to Witness Healthy CAGR Over the Forecast Period
  • The animals considered under the small animals include rabbits, cats, dogs, birds, chickens, ducks, and guinea pigs, among others.​ Each year, the population of these small animals is gradually increasing, and even the diseases are also increasing along with the population of these small animals.​​
  • According to the American Society for the Prevention of Cruelty to Animals, approximately 6.5 million companion animals enter the U.S. animal shelters nationwide every year, of which approximately 3.2 million are cats. ​​
  • As per Canadian Animal Health Institute (CAHI) in 2018 there is an estimated 8.8 million cats and cat has increased by about 10%. The rates of cancer in cats are less common compared to that of dogs. However, still it affects a large number of cats. ​​​
  • Hence, with the rising focus on animal health, technological advancements taking place in veterinary imaging diagnosis the small animals segment is expected to grow significantly.

North America to Dominate the Veterinary Ultrasound Devices Market

The United States is expected to dominate the veterinary ultrasound devices market, owing to the factors, such as the rising pet adoption and increasing per capita animal healthcare expenditure. In addition, the rise in the prevalence of various animal diseases and internal injuries has been identified as the primary driving factor for the market growth. Recently, dozens of studies to identify the causes and treatments of animal cancers have been sponsored and conducted by the American Kennel Club (AKC), Animal Cancer Foundation, and other foundations. For example, Purdue University’s College of Veterinary Medicine, Indiana, United States is conducting clinical trials and thus leading the way in comparative oncology research by discovering new ways to identify and cure lymphomas in canines, involving radiography as a means to diagnose cancer. The aforementioned factors are driving the growth of the veterinary ultrasound devices market in North America.

Competitive Landscape

Some of the key players in this market include Canon Inc., DRAMIŃSKI SA., Esaote SpA, FUJIFILM Sonosite Inc., GE Healthcare, Samsung Medison Co. Ltd, Shenzhen Mindray Bio-Medical Electronics Co. Ltd, Siemens Healthineers, and Sonostar Technologies Co. Limited, among others. The competition among these players is intense and several companies are focusing on the expansion strategy to gain more market share from different geographies. Also, they are coming up with the novel products to gain the attraction of the customers especially in the developed nations where pet adoption is higher.

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Table of Contents

1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increase in Animal Adoption and Animal Health Expenditure
4.2.2 Rise in Demand for Diagnosis of Various Animal Health Conditions
4.2.3 Technological Advancements
4.3 Market Restraints
4.3.1 Lack of Skilled Personnel?
4.3.2 High Cost of the Devices?
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5.1 By Product
5.1.1 Hand-held (Portable) Ultrasound Scanner
5.1.2 Cart-based Ultrasound Scanner
5.2 By Animal Type
5.2.1 Small Animals
5.2.2 Large Animals
5.3 Geography
5.3.1 North America United States Canada Mexico
5.3.2 Europe Germany United Kingdom France Italy Spain Rest of Europe
5.3.3 Asia-Pacific China Japan India Australia South Korea Rest of Asia-Pacific
5.3.4 Middle-East and Africa GCC South Africa Rest of Middle-East and Africa
5.3.5 South America Brazil Argentina Rest of South America
6.1 Company Profiles
6.1.1 Canon Inc.
6.1.2 Draminski SA
6.1.3 Esaote SpA
6.1.4 Fujifilm Holdings Corporation
6.1.5 MV Imaging?
6.1.6 Samsung Medison Co., Ltd
6.1.7 Shenzhen Mindray Bio-Medical Electronics Co. Ltd
6.1.8 Siemens Healthineers
6.1.9 Sonostar Technologies Co. Limited

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Canon Inc.
  • Draminski SA
  • Esaote SpA
  • Fujifilm Holdings Corporation
  • MV Imaging​
  • Samsung Medison Co., Ltd
  • Shenzhen Mindray Bio-Medical Electronics Co. Ltd
  • Siemens Healthineers
  • Sonostar Technologies Co. Limited