Veterinary Ultrasound Devices Market Overview
The veterinary ultrasound devices market is expected to register a CAGR of 5.6% over the forecast period. Veterinary ultrasound devices use ultrasonic sound waves, which are in the frequency range of 1.5–15 megahertz (MHz), in order to create images of internal body structures, based on the pattern of echoes reflected from the targeted organs and tissues. Increase in animal adoption and animal health expenditure, rise in demand for diagnosis of various animal health conditions, and technological advancements are contributing to the market growth. However, limitations of veterinary ultrasound devices, and stringent regulatory policies can adversely affect the market growth.
Rise in Demand for Diagnosis of Various Animal Health Conditions to Propel the Growth of the Veterinary Ultrasound Devices Market
Rise in prevalence of various internal injuries along with other diseases, including blood in abdomen, cysts, and cancer in companion animals, such as cats, dogs, horses, as well as livestock animals, such as cattle, swine etc., along with the rise in demand for diagnosis of those diseases are expected to propel the market growth. An ultrasound machine helps the doctors in detecting tumors in certain internal areas of the body, which cannot be observed well on x-rays. In many instances, the veterinarians use ultrasound, in order to guide a needle while performing a biopsy. Ultrasound devices are widely used, owing to the fact that it is a risk-free and pain-free way to look at the internal organs of the animal body. Ultrasounds are also sometimes preferred, as it is usually quick and as it requires no special preparation, in most cases. Any disorder associated with the generation of fluid-filled cysts can be diagnosed using ultrasound devices better than that having solid tumors, as very different echo patterns are made by ultrasound. This gives rise to the demand for diagnosis of certain animal diseases using ultrasound devices. Moreover, as per the disease prevalence data published by the Royal Veterinary College, University of London, in 2013, out of 1000 surveyed animals, it is estimated that 55 dogs suffer from traumatic injury and 39 dogs suffer from heart (cardiac) murmur. In addition to the aforementioned factor, the increase in animal adoption and technological advancements are expected to fuel the growth of the veterinary ultrasound devices market over the forecast period.
Limitations of Veterinary Ultrasound Devices are Restraining the Growth of the Veterinary Ultrasound Devices Market
Certain limitations or drawbacks associated with veterinary ultrasound devices, which give rise to the demand for the other imaging systems, such as CT (Computed Tomography) and MRI (Magnetic Resonance Imaging), are expected to restrain the growth of the veterinary ultrasound devices market. The demand for cart-based veterinary ultrasound scanners have been collectively lowered in the recent times, owing to the factors, such as high price, along with high energy consumption. In addition, the cart-based machines have certain technical limitations, and cannot use a wide range of ultrasound imaging methods, such as 2D, 3D and 4D imaging with ease and efficiency.
In addition to the aforementioned factor, high cost associated with the veterinary healthcare practice, and stringent regulatory policies are some other major factors, which can restrain the growth of the market.
North America to Dominate the Veterinary Ultrasound Devices Market
The United States is expected to dominate the veterinary ultrasound devices market, owing to the factors, such as the rising pet adoption and increasing per capita animal healthcare expenditure. In addition, the rise in prevalence of various animal diseases and internal injuries has been identified as the primary driving factor for the market growth. Recently, dozens of studies to identify the causes and treatments of animal cancers have been sponsored and conducted by the American Kennel Club (AKC), Animal Cancer Foundation, and other foundations. For example, Purdue University’s College of Veterinary Medicine, Indiana, United States is conducting clinical trials and thus leading the way in comparative oncology research by discovering new ways to identify and cure lymphomas in canines, involving radiography as a means to diagnose cancer. The aforementioned factors are driving the growth of the veterinary ultrasound devices market in North America.
Key Developments in the Veterinary Ultrasound Devices Market
- Nov 2016: Clarius Mobile Health introduced a new ultrasound scanner designed for the veterinarians who treat household pets. The Clarius C7 Wireless Ultrasound Scanner pairs with iOS and Android devices to enable quick scans.
Major Players: Canon Inc., DRAMIŃSKI SA., Esaote SpA, FUJIFILM Sonosite Inc., GE Healthcare, Samsung Medison Co. Ltd, Shenzhen Mindray Bio-Medical Electronics Co. Ltd, Siemens Healthineers, and Sonostar Technologies Co. Limited, among others.
Veterinary Ultrasound Devices Market Report Summary
Veterinary Ultrasound Devices Market
2018 – 2023
Largest Market Share by Region
Nov 2016: Clarius Mobile Health introduced a new ultrasound scanner designed for veterinarians who treat household pets. The Clarius C7 Wireless Ultrasound Scanner pairs with iOS and Android devices to enable quick scans.
Canon Inc., DRAMIŃSKI SA., Esaote SpA, FUJIFILM Sonosite Inc., GE Healthcare, Samsung Medison Co. Ltd, Shenzhen Mindray Bio-Medical Electronics Co. Ltd, Siemens Healthineers, and Sonostar Technologies Co. Limited, among others.
Veterinary Ultrasound Devices Market report offers latest trends, growth prospects, industry competitiveness, major players, value/supply chain, regional market share, and forecast to 2023.
Reasons to Purchase Veterinary Ultrasound Devices Market Report
- Analyzing various perspectives of the global veterinary ultrasound devices market with the help of Porter’s five forces analysis
- The segment that is expected to dominate the market
- Regions that are expected to witness the fastest growth during the forecast period
- Identify the latest developments, market shares, and strategies employed by the major market players
- 3-months analyst support along with the Market Estimate sheet (in Excel)
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TABLE OF CONTENTS
1.1 Market Definition
2. Research Methodology
3. Executive Summary
4. Key Inferences
5. Market Overview
5.1 Current Market Scenario
5.2 Porter's Five Forces Analysis
5.2.1 Bargaining Power of Suppliers
5.2.2 Bargaining Power of Consumers
5.2.3 Threat of New Entrants
5.2.4 Threat of Substitute Products and Services
5.2.5 Competitive Rivalry within the Industry
6. Drivers, Restraints, Opportunities, and Challenges (DROC) Analysis
6.1 Market Drivers
6.1.1 Increase in Animal Adoption and Animal Health Expenditure
6.1.2 Rise in Demand for Diagnosis of Various Animal Health Conditions
6.1.3 Technological Advancements
6.2 Market Restraints
6.2.1 Limitations of Veterinary Ultrasound Devices
6.2.2 Stringent Regulatory Policies
6.4 Key Challenges
7. Market Segmentation
7.1 By Product
7.1.1 Hand-held (Portable) Ultrasound Scanner
7.1.2 Cart-based Ultrasound Scanner
7.2 By Technology
7.2.1 Digital Imaging Technology
7.2.2 Analog imaging Technology
7.3 By Geography
7.3.1 North America
18.104.22.168 United States
22.214.171.124 United Kingdom
126.96.36.199 Rest Of Europe
188.8.131.52 Australia & New Zealand
184.108.40.206 South Korea
220.127.116.11 Rest of Asia-Pacific
7.3.4 Middle East & Africa
18.104.22.168 South Africa
22.214.171.124 Rest of Middle East & Africa
7.3.5 South America
126.96.36.199 Rest of South America
8. Company Profiles and Competitive Landscape
8.1 Canon Inc.
8.2 DRAMIŃSKI SA
8.3 Esaote SpA
8.4 FUJIFILM Sonosite Inc.
8.5 GE Healthcare
8.6 Samsung Medison Co., Ltd
8.7 Shenzhen Mindray Bio-Medical Electronics Co. Ltd
8.8 Siemens Healthineers
8.9 Sonostar Technologies Co. Limited
*List Not Exhaustive
9. Future of the Market