Global Veterinary Ultrasound Scanners Market: In-depth Forecast Study Highlights Growth in CAGR% and Revenue (US$Mn) till 2028

The expanding database of Market Research Reports Search Engine (MRRSE) has been recently updated by the addition of a new study which is titled as “Global Veterinary Ultrasound Scanners Market: In-depth Forecast Study Highlights Growth in CAGR% and Revenue (US$Mn) till 2028 ”. The fact-based research report on the global Veterinary Ultrasound Scanners market covers various aspects such as trends, drivers, challenges and opportunities that have an influence on the growth and expansion of the global market. All these factors are analyzed across key regions of Latin America, North America, Europe, Middle and Africa (MEA) and the Asia Pacific. In order to provide an accurate forecast, analysts have presented the current market, which forms the basis of how the metal caps and closures market is expected to develop in the future.

The veterinary ultrasound scanner is an imaging device that uses high-frequency ultrasound waves to create images of the inside of the animal body. It is designed for various veterinary examination applications such as pregnancy scan, distal limb exams, abdominal, musculoskeletal, and cardiology in animals. The veterinary ultrasound scanners help to diagnose the problems with soft tissues, muscles, blood vessels, tendons, and joints. There are different types of veterinary ultrasound scanners available in the market based on technology and application type.

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Veterinary ultrasound scanners are available for all types of species and animals, e.g., companions, equine, bovine, small animals, farm animal, ovine, porcine, ruminants, swine, feline, etc. In this report, the veterinary ultrasound scanners market is segmented by product type, imaging technology, and end users. The report analyses the demand from veterinary hospitals, veterinary clinics, animal breeding and farms. By product type, the veterinary ultrasound scanners market is segmented into portable/handheld ultrasound scanner and cart-based ultrasound scanner. The study covers the revenue generated by the products mentioned. The portable/handheld veterinary ultrasound scanner is lightweight and mobile, it can be carried around the field and operated with the help of a battery. The cart-based veterinary ultrasound scanner requires a cart, which allows easy maneuvering and mobility throughout the facility.

In terms of revenue, the global veterinary ultrasound scanners market is projected to expand at 4.2% CAGR over the forecast period of 2018–2028, and is expected to be valued at US$ 239.6 Mn by 2028 end.

Geographically, the global veterinary ultrasound scanners market is segmented into eight major regions, namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific (Asia-Pacific excluding China & Japan), Japan, China and the Middle East & Africa (MEA). In terms of value, North America dominated the global veterinary ultrasound scanners market in 2017 and is expected to expand at a CAGR of 3.5% over the forecast period of 2018–2028. China and Asia Pacific are expected to be the fast-growing markets, in terms of revenue, in the global veterinary ultrasound scanners market, registering CAGRs of 12.1% and 6.5%, respectively, over 2018–2028.

In North America, the U.S. is the dominant market for veterinary ultrasound scanners due to increased consumer spending on pets. Over the past few decades, it has been noted that the U.S. vet care spending has almost doubled owing to increase in awareness regarding the diseases in animals and accessibility of treatment and diagnostic methods for various chronic diseases. Increasing vet care spending is expected to directly impact the need for better pet screening and treatment, which in turn is expected to create high growth opportunities for the players operating in the veterinary ultrasound scanners market over the forecast period. As per the American Pet Products Association, about US$ 69.5 Bn was spent on pet healthcare in 2017 in the U.S. Increasing acceptance of pet insurance policies by pet owners in the U.S.  to provide proper health care services to their pets is the other factor expected to boost the growth of the U.S. veterinary ultrasound scanners market over the forecast period. According to the 2017-2018 APPA National Pet Owners Survey Debut, nearly 9 million dogs and over 4.5 million cats are insured in the U.S.

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By country, the second dominant market in the veterinary ultrasound scanners market is Germany owing to the rise in the prevalence of zoonotic diseases and increasing safety concerns for animals and humans. Food-related safety concerns with increasing meat consumption and dairy products is expected to fuel the demand for veterinary ultrasound scanners in the country. Additionally, increasing expenditure on vet care in European countries, such as Germany, France, the U.K., and Italy, is also expected to boost the growth of the market for veterinary ultrasound scanners. The European government has funded US$ 1.48 billion between 2009 and 2014 under the European Animal Health Strategy Programs. These fundings for reducing the burden of zoonotic diseases are expected to spur the demand for veterinary ultrasound scanners over the forecast period.

Increased funding and support by the World Organization for Animal Health (OIE), Centre for Disease Prevention and Control, Food and Agriculture Organization for animal disease eradication programs are expected to drive the growth of the veterinary ultrasound scanners market in Asia Pacific and Middle East and Africa.

FMD control programs conducted in India and China are expected to boost the growth of the veterinary ultrasound scanners market with improvement of vet healthcare. Increasing number of veterians and availability of cost-effective veterinary ultrasound scanners is expected to boost the demand for veterinary ultrasound scanners in China. Increasing adoption of portable and multiplication veterinary ultrasound scanners for farm and livestock animal diagnosis is expected to spur the growth of the Japan veterinary ultrasound scanners market.

Moreover, the growing adoption rate of pets from shelters and rescue homes and the One Health Zoonotic Disease Prioritization Workshops to control and prevent infectious diseases are also expected to fuel the growth of the global veterinary ultrasound scanners market over the forecast period. The growing adoption of veterinary ultrasound scanners by cattle breeders for prenatal diagnosis is expected to create growth opportunities for the players operating in the global veterinary ultrasound scanners market.

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