Animal Ultrasound Market Competitive Landscape and Industry Analysis 2028

Animal Ultrasound Industry Overview

The global animal ultrasound market size is anticipated to reach USD 488.93 million by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a lucrative CAGR of 11.0% from 2021 to 2028. The key factors driving the market growth include the growing prevalence of various zoonotic diseases and technological advancements in the sector. Furthermore, the growing adoption of pet insurance and increasing population of companion and livestock animals is also anticipated to positively influence the animal/veterinary ultrasound market growth.

Animal Ultrasound Market Segmentation

Grand View Research has segmented the global animal ultrasound market on the basis of animal type, type, technology, scanner type, application, end-use, and region:

Based on the Animal Type Insights, the market is segmented into Small Companion Animals and Large Animals.

• The small companion animals segment accounted for the highest revenue share of more than 54% in 2020. The rising adoption of pets coupled with increasing spending on their well-being and health is expected to boost the market growth. Furthermore, the rising prevalence of cancer and cardiac disorders in dogs and cats, among others is estimated to drive the market growth.
• The large animals segment is anticipated to grow at the fastest CAGR owing to the increasing incidences of zoonotic diseases in cows, horses, buffalos, etc. Furthermore, the growing livestock population is also anticipated to boost the market growth during the forecast period.

Based on the Type Insights, the market is segmented into 2-D Ultrasound Imaging, 3-D/4-D Ultrasound Imaging and Doppler Imaging.

• The 2-D ultrasound imaging segment accounted for the maximum revenue share of more than 39% in 2020. The segment growth is attributed to the widespread popularity of such devices in pregnancy detection as well as disease diagnosis. Furthermore, less cost as compared to other types of ultrasounds is also expected to boost the market growth.
• The 3-D/4-D ultrasound imaging segment is expected to grow at the fastest CAGR of 12.4% over the forecast period owing to the rising technological advancements in the segment. The Doppler imaging segment is expected to account for the second-largest revenue share in 2020 but is expected to lead the market by 2028 owing to its increasing popularity over 2-D ultrasound imaging.

Based on the Technology Insights, the market is segmented into Digital Imaging, Contrast Imaging, Microstream.

• The contrast imaging segment accounted for the highest revenue share of more than 51% in 2020 owing to its high penetration in veterinary hospitals and clinics, as compared to the digital imaging segment. Contrast imaging is used for myocardial perfusion and M-mode imaging. Myocardial perfusion, which is majorly used for cardiac infarction diagnosis is used for assessment of the left ventricular free wall and the septum in companion animals, such as cats and dogs.
• The digital imaging segment is anticipated to grow at the fastest CAGR from 2021 to 2028 owing to technological advancements by key market players and its rising popularity amongst veterinarians. Furthermore, increased efficiency of radiograph dissemination and production, offered by digital imaging systems is also estimated to fuel the animal/veterinary ultrasound market growth.

Based on the Scanner Type Insights, the market is segmented into Cart-based Ultrasound Scanners and Handheld Ultrasound Scanners.

• The cart-based ultrasound scanners segment accounted for the maximum revenue share of more than 52% in 2020. The segment growth is attributed to the high adoption of these devices in veterinary clinics, hospitals, and diagnostic centers due to the ease of use. Furthermore, technological advancements by major market players, such as IMV imaging, Sonosite and Celtic SMR, are also expected to boost the market growth during the forecast period.
• The handheld scanners segment is expected to grow at the fastest CAGR from 2021 to 2028 owing to the rising technological advancements related to the 2-D ultrasound imaging scanners and their increasing demand, as they can be used at the point of care.

Based on the Application Insights, the market is segmented into Orthopedics, Cardiology, Oncology, Obstetrics & Gynecology, Others.

• The cardiology segment accounted for the maximum revenue share of 22.56% of the global market in 2020. The increasing prevalence of cardiac disorders in animals is expected to contribute to market growth.
• The obstetrics and gynecology segment is anticipated to grow at the fastest CAGR of more than 12% during the forecast period owing to the high adoption of ultrasound for pregnancy testing in animals. The orthopedics segment is expected to hold a significant market share owing to increasing incidences of orthopedic diseases in animals.

Based on the End-use Insights, the market is segmented into Veterinary Hospitals & Clinics, Others.

• The veterinary hospitals & clinics segment accounted for the highest revenue share of more than 56% in 2020. The availability of a wide range of diagnostic alternatives in veterinary hospitals and clinics is anticipated to contribute to the segment growth. Furthermore, technological advancements, such as efficient pet owner mobile technologies and cloud-based information management systems are also estimated to drive the market growth.
• Other end-uses include reference laboratories, diagnostic laboratories, Point-of-Care (PoC) facilities, and academic & research centers, among others. The others segment is expected to grow at the fastest growth rate over the forecast period. Reference laboratories provide comprehensive diagnostic tests for delivering efficient results and consultation services of a specialist.

Animal Ultrasound Regional Outlook

• North America
• Europe
• Asia Pacific
• Latin America
• MEA

Key Companies Profile & Market Share Insights

The global market is highly competitive. Market players implement strategic initiatives, such as product development & launches, expansion of distribution network, and global footprint through subsidiaries and partnerships. Key players are also involved in portfolio diversification and mergers & acquisition.

Some of the prominent players operating in the global animal ultrasound market include,

• IDEXX
• Carestream Health
• Esaote SpA
• Sound
• Fujifilm Sonosite, Inc.
• Hallmarq Veterinary Imaging
• BCF (IMV Imaging)
• Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
• Siemens Medical Solutions
• Heska Corp.

Order a free sample PDF of the Animal Ultrasound Market Intelligence Study, published by Grand View Research.