Veterinary ultrasound Market 2018 Top Players Outlook by Samsung Medison Co. Ltd, Siemens Healthineers, General Electric Company, Hitachi Ltd, Toshiba Medical Systems Corporation, Fujifilm Holdings Corporation, Sonoscape Medical Corp and Forecast to 2023

The global Veterinary uUtrasound Market is expected to register a CAGR of 6.0% during the forecast period of 2018 to 2023. The Veterinary Ultrasound Industry is segmented by animal type, product, imaging technology, application, end-user, and region.

Veterinary ultrasound scanners are diagnostic modalities in which high-frequency sound waves are used to generate the images of animals’ body parts. In the recent years, the expenditure on pet care has increased along with technological advancements in veterinary ultrasounds. It is reported that the pet owners spend hugely on routine veterinary expenses and surgical veterinary visits. As per the data suggested by the American Pet Products Association (APPA) in 2015, around 65% of the U.S. population owned a pet. Moreover, it was estimated that the U.S. pet industry expenditure had a worth of USD 60.3 million within the same year. Thus, with the growing spending on animal care, the demand for veterinary diagnosis and related equipment is estimated to increase, boosting the growth of the global veterinary ultrasound market.

Technological advancements in veterinary ultrasound have profoundly impacted the growth of the market. The increased competition among existing and new market players to develop novel devices with higher accuracy and more advanced features are likely to result in the growth of the market ultimately. For instance, IDEXX Laboratories, Inc., on September 9, 2015, announced the release of IDEXX Web PACS to access diagnostic images from any web-enabled device by eliminating the need for manual backup and local servers, thus, giving the liberty from traditional practices and saving time and labor.

On the other hand, factors such as high procedure cost and lack of skilled veterinarians are estimated to restrain the market growth during the forecast period. According to the statistics published by the Canadian Veterinary Medical Association, in 2017, there were approximately 14,345 skilled veterinarians present in Canada, whereas the total population of household cats and dogs were 8.8 million and 7.6 million, respectively. Due to the limited availability of skilled forces, the increasing demand for the market remained unmet. Therefore, the market is estimated to be restrained in the presence of limited availability of skilled forces, over the forecast period.

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Research Methodology:

Market Research Future research is conducted by industry experts who offer insight into industry structure, market segmentation, technology assessment, Competitive Landscape (CL), penetration, as well as on emerging trends. Besides primary interviews (~ 80%) and secondary research (~ 20%), their analysis is based on their years of professional expertise in respective industries. Our analysts also predict where the market will be headed in the next five to ten years, by analyzing historical trends and current market positions. Furthermore, varying trends of segments and categories geographically presented are studied and are estimated based on the primary and secondary research.

Regional Analysis Veterinary Ultrasound Market:

The Americas dominates the global market for veterinary ultrasounds owing to the increasing adoption of companion animals, favorable pet health insurance, and high disposable income. According to the North American Pet Health Insurance Association (NAPHIA), in 2017, the North American pet health insurance sector posted a growth with combined gross written premiums of about 1.2 billion. Thus, increasing insurances for pet care boost the market growth by making the bills reimbursable.

In 2017, it was estimated that Europe stood second in the veterinary ultrasound market. Factors such as increasing pet population and high disposable household income drive the market within the region. According to the Pet Food Manufacturers Association in 2016, there were approximately 8.5 million domestic dogs and 7.5 million cats in the U.K. occupying around 24% and 17%, respectively, of the total households within the region. Such an adoption rate of pets within the region enhances the market by increasing the addressable population size and thus provides the required driving force for the market to grow within the region.

Asia Pacific was the fastest growing region for the global veterinary ultrasound market in 2017. Some of the major factors influencing the growth of the market include increasing nuclear families preferring pets, rising disposal income, and growing penetration of multinational players within the region.

On the other hand, the Middle East and Africa holds the least share in the global veterinary ultrasound market. The presence of poor economies and low per capita income, especially within the African region make the market to lag within the region. A majority of the market share within this region is estimated to be held by the Middle East due to the presence of developed economies such as Kuwait, Qatar, Dubai, and others.

Veterinary Ultrasound Market Players:

Some of the key players in the global veterinary ultrasound market are Samsung Medison Co. Ltd, BCF Technology Ltd, Esaote SpA, Shenzhen Mindray Bio-Medical Electronics Co. Ltd, DRAMINSKI S. A, Siemens Healthineers, Sonostar Technologies Co. Limited, General Electric Company, Hitachi Ltd, Sonoscape Medical Corp, Toshiba Medical Systems Corporation, Fujifilm Holdings Corporation, and others.

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Veterinary Ultrasound Market Segmentation:

The global veterinary ultrasound market is segmented on the basis of animal type, product, imaging technology, application, end-user, and region.
On the basis of animal type, the market is segmented into small companion animals and large animals.

By product, the market is categorized into devices and software. The devices segment is sub-segmented into portable/handheld ultrasound scanners and cart-based ultrasound scanners. The imaging technology segment is sub-segmented into digital imaging technology, analog imaging technology, and contrast imaging technology. The contrast imaging technology segment is segmented into iodinated contrast media, gadolinium-based contrast media, microbubble contrast media, and barium-based contrast media. The gadolinium-based contrast media segment is further segmented into gadoterate, gadodiamide, and others. The microbubble contrast media segment is sub-segmented into hard-shell microbubbles, polymer-shelled microbubbles, and others. By application, the market is segmented into cardiology, neurology, and oncology. By end-user, the market is categorized into veterinary hospitals, veterinary clinics, animal breeding and farms, and others.

MAJOR TABLE OF CONTENT:

Chapter 1. Report Prologue

Chapter 2. Market Introduction
2.1 Definition
2.2 Scope Of The Study
2.2.1 Research Objective
2.2.2 Assumptions
2.2.3 Limitations

Chapter 3. Research Methodology
3.1 Introduction
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation

LIST OF TABLES:

Table 1 Global Veterinary Ultrasound Market Industry Synopsis, 2018–2023
Table 2 Global Veterinary Ultrasound Market Estimates & Forecast, 2018–2023, (USD Million)
Table 3 Global Veterinary Ultrasound Market, By Region, 2018–2023, (USD Million)
Table 4 Global Veterinary Ultrasound Market, By Animal, 2018–2023, (USD Million)

LIST OF FIGURES:

Figure 1 Research Process
Figure 2 Segmentation For Global Veterinary Ultrasound Market
Figure 3 Market Dynamics For Global Veterinary Ultrasound Market
Figure 4 Global Veterinary Ultrasound Market Share, By Animal 2017

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