Veterinary Ultrasound Scanners Market Analysis, Segments, Growth and Value Chain 2016-2023
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The global market for veterinary ultrasound scanner is witnessing a substantial growth currently and is expected to show a moderate growth in the future. Increasing trend of meat consumption and rising prevalence of zoonotic diseases would contribute in driving the growth of this market. It is expected that world meat exports would increase by 19% by 2022 and also meat consumption continues to be one of the highest growth recording sector among all the agricultural commodities. Thus, it would increase the demand for routine checking of the pets and farm animals. Moreover, owners are increasingly attached to their pets and are therefore willing to dedicate higher percentage of the household budget to caring for them. Thus, increase in daily disposable income of people will also significantly accentuate the global market demand of veterinary ultrasound scanners. Livestock production is also growing at a faster rate due to escalating population growth and thereby boosts the demand of ultrasound scanners. Hence, demand for effective and efficient veterinary ultrasound scanners will increase in the future. The high cost of veterinary diagnostic product and services are a factor that would restrict the global market demand to some extent. Moreover, lack of awareness about veterinary ultrasound scanners in few of the developing nations is also a factor that might restrict its demand in the global veterinary ultrasound scanners market.
Geographically, North America dominates the global market for veterinary ultrasound scanners due to increasing demand of diagnostic test for animals. Moreover, increasing awareness among people about veterinary ultrasound scanners for pet animals will also accentuate the market in North American region. Europe represents the second position in the global market due to technological advancement and increasing awareness among people. Asia Pacific is considered as an emerging market in the global veterinary ultrasound scanners market due to large number of animals (cow, buffalo, goat) are suffering from various diseases. Moreover the market for veterinary ultrasound scanners is at initial stage in Asian countries. It is expected that Asia Pacific will contribute a significant market share during the forecast period due to increasing healthcare infrastructure and growing disposable income. Rest of the World (RoW) is considered as an untapped market in the global veterinary ultrasound scanners market due to poor healthcare infrastructure in African countries.
Major market players operating in the global veterinary ultrasound scanners market include Shantou Institute of Ultrasonic Instruments, Sonostar Technologies, CHISON, Sonop Technology, Xuzhou Kejian Hi-tech Co.,ltd., Bionet, Sino-Hero(Shenzhen) Bio-Medical Electronics Co., Ltd., Wuhan Zoncare Bio-medical Electronics Co., Ltd., BCF Technology, BMV Technology, Shenzhen Biocare Bio-Medical Equipment Co., Ltd., Echo Control Medical, DRAMINSKI S.A. among others.
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