Veterinary Ultrasound Devices Market Size is expected to exhibit a substantial CAGR from 2022 to 2028. Growing pet adoption and the prevalence of cardiovascular and oncological disorders among companion and livestock animals are likely to foster the growth of the market over the forecast timeframe.
Increasing animal diagnostic requirements for several health conditions like pregnancy, organ enlargement, foreign body ingestion, and internal injuries have led to an upsurge in animal healthcare expenditure, further supporting the industry growth. Moreover, new product innovations, driven by the escalating demand for improved imaging technology and growing awareness towards early and precise disease diagnosis, may boost the veterinary ultrasound devices market outlook in the forthcoming years.
Ultrasound devices create an image of the tissues, organs, and other structures inside the body using high-frequency sound waves. These devices are gaining major traction owing to their affordability, accessibility, efficiency, precision, and non-invasive nature. They provide real-time imaging, require no anesthesia, and can be easily combined with other imaging modalities like X-rays during complex surgical procedures and biopsies.
Portable/handheld ultrasound scanner is likely to register considerable expansion over the projected timeline, owing to the several benefits the product has to offer. These devices are easy to transport, efficient, reusable, provide accurate and instant diagnostic, and can access patients in remote locations, making them ideal to use in emergencies. Furthermore, benefits like enhanced client engagement, easy setup, and cost-effective maintenance may propel the demand for the product in the years ahead.
Digital imaging technology may inflict decent progression concerning the technology segment of veterinary ultrasound devices owing to its advantages like instant output and portability. It uses lesser radiations and provides better images with a higher resolution that can be magnified or manipulated later to get a better look at anatomical features.
With the number of pet adoption reaching an all-time high, North America may contribute significant revenue to the veterinary ultrasound devices industry share over the forecast timeframe. Moreover, rising animal healthcare expenditure driven by the prevalence of health disorders like internal injuries and diseases in pets and livestock animals may support expansion in the North America veterinary ultrasound devices market.
Some of the renowned players of the veterinary ultrasound devices market include DRE Veterinary, IMV Imaging, Canon Inc., FUJIFILM Sonosite Inc., Universal Solutions, Inc., BMV Technology Co. Ltd., Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Esaote SpA, Sonostar Technologies Co. Limited and Siemens Healthineers. These industry players are adopting strategies like collaborations, new product innovations, mergers, and acquisitions to support the industry growth and strengthen their customer base.
The pandemic has acutely hit the veterinary ultrasound devices market last year. The imposition of lockdowns in several countries leading to travel and movement restrictions coupled with stringent social distancing norms in public spaces driven by the infection anxiety significantly reduced the footfalls in hospitals and clinics. Also, shutting down major industries and factories caused disruptions in the stock and supply chain management of veterinary ultrasound devices.
However, with the implementation of new policies and procedures like remote diagnostic and monitoring, the market may experience strong progression in the coming years.
In addition, escalating vaccination drive and the end of lockdown restrictions in many economies may further augment industry forecast.
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