Veterinary Ultrasound Device Market Analysis

Veterinary Ultrasound Device Market Analysis

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Based on type, the market is subdivided into 2D ultrasound, doppler ultrasound, and 3D/4D ultrasound. In 2022, 2D ultrasound segment accounted for largest market share in global market. The 2D ultrasound devices are most preferable type of ultrasound device useful in diagnosis of various diseases as well as is commonly used for pregnancy examination. During the forecast timeline, 3D/4D ultrasound segment is expected to grow at highest CAGR.
 

Based on product, the veterinary ultrasound device market is classified into cart-based ultrasound scanners and portable ultrasound scanners. The cart-based ultrasound scanner segment had the highest revenue share in 2022. The factors driving the market for this segment are the increasing number of veterinary practitioners and the accuracy of disease diagnosis. During the forecast period, the portable ultrasound scanner segment is projected to grow at a faster rate because of the ease of carrying it out of clinics as it is small in size.
 

Based on technology, the market is subdivided into digital imaging and contrast imaging. In 2022, the digital imaging segment accounted for the largest revenue share. Owing to the technological advancements, there are fewer chances of errors and more accurate images, which has driven the growth of this market. In the coming years, from 2023 to 2032, the contrast imaging segment is expected to grow at the highest CAGR.
 

Based on animal type, the veterinary ultrasound device market is classified into small animals, large animals, and other animals. The small animals segment held largest revenue share in 2022 and is anticipated to witness tremendous growth during the forecast period. The lucrative growth of this segment is expected due to the growing number of animal adoption, increasing animal healthcare expenditures, and awareness of animal health.
 

Based on applications, the veterinary ultrasound device market is subdivided into obstetrics/gynecology, cardiology, orthopedics, oncology, and other applications. The obstetrics/gynecology segment has covered the majority of industry share in 2022. Cardiology segment held the second largest market share. Obstetrics/gynecology is anticipated to witness highest CAGR in given timeline.
 

Based on end-user, the veterinary ultrasound device market is segmented into veterinary clinics and veterinary hospitals and academic institutes. The veterinary clinics segment accounted for the largest market share in 2022 and is projected to grow at highest CAGR during the forecast period. The increasing prevalence of animal diseases and skilled veterinary practitioners are the major factors accelerating the demand for veterinary ultrasonic devices.
 

North America holds the highest revenue in veterinary ultrasound device market, owing to an increased number of veterinary professionals, improved healthcare infrastructure, availability of pet insurance, rising number of companion animals and increased healthcare expenditure. During the forecast period, it is expected that Asia Pacific will grow at highest CAGR because this region has the highest number of domesticated animals, is increasing animal adoption, and focuses on animal health.