Animal Ultrasound Market Share, Size, Trends, Industry Analysis Report, By Animal Type (Small Animal and Large Animal); By type; By Technology; By Application; By End Use; By Region; Segment Forecast, 2023-2032
- Published Date:Jun-2023
- Pages: 119
- Format: PDF
- Report ID: PM3336
- Base Year: 2022
- Historical Data: 2019-2021
Report Outlook
The global animal ultrasound market was valued at USD 450.72 million in 2022 and is expected to grow at a CAGR of 5.40% during the forecast period. The increasing use of advanced technologies in veterinary ultrasound has enhanced the market’s growth. Several companies are contributing to the veterinary industry and investing in the ultrasound market. For example, in January 2023, GE HealthCare and Sound Technologies collaborated with each other to distribute the Vscan Air, a wireless, pocket-sized, cutting-edge ultrasound that delivers crystal-clear image quality, intuitive software, and whole-patient scanning capabilities to veterinary practices in the U.S. Technological advancement in the market is generating billions of dollars' worth of opportunity for the industry participants.
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Ultrasound in veterinary medicine has transformed the way people approach numerous health issues and even how they practice surgical procedures. Ultrasound is used in animals for various purposes. Animal ultrasound is primarily used for disease monitoring, pregnancy detection testing, and other imaging in veterinary medicine. These devices are used across several hospitals, clinics, and academic institutes. Various technologies like digital imaging, artificial intelligence, and many more trends are bringing huge popularity to the animal ultrasound industry.
COVID-19 pandemic has progressively enhanced the adoption of pets. Approximately 23 million American households adopted a pet during the COVID-19 crisis. The outbreak forced the people to stay indoors for many months, which is one of the aspects that improved the adoption of animals. For example, the American Society for the Prevention of Cruelty to Animals reported that 1 in 5 households had adopted a cat or dog during pandemic. Americans spent USD 42 billion on pet food in 2020. Skyrocketed pet ownership and spending during the COVID-19 crises have also enhanced the demand for pet care products as well as services. This has further improved the need for animal ultrasounds globally.
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Industry Dynamics
Growth Drivers
An upsurge in pet ownership is one of the major growth factors anticipated to boost the market in both developed and emerging economies. The percentage of households that possess at least one cat increased to 29% in 2022. For example, as per the Global Agriculture Information Network 2022, pets can be found in 47% of German households, and 15% of those households have more than one pet. Escalating pet ownership across various countries has accelerated health concerns about them. This, in turn, further increased the demand for animal care services like imaging. Subsequently, this factor improved the need for ultrasound for the diagnosis of diseases and pregnancy in animals, which is likely to spur global revenue.
Players in the market are engaged in innovative ultrasound technologies, which are responsible for generating more revenue in the animal ultrasound market. To tap a larger customer base, and stay competitive in the landscape, many industry participants are largely participating in the latest technologies in animal ultrasound. For example, in May 2022, Butterfly Network partnered with the Petco Health & Wellness Company to deploy Butterfly iQ+ Vet company’s network of around 200 veterinary hospitals at its dedicated centres. Similarly, other businesses are also investing in such technologies, which are fuelling market growth.
Report Segmentation
The market is primarily segmented based on animal type, technology, type, application, end user, and region.
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By Animal Type |
By Type |
By Technology |
By Application |
By End user |
By Region |
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Small Animal segment held largest share in the global market in 2022
In fiscal year 2022, the small animal segment dominates the market major share. This is due to the huge adoption of dogs and cats in developed and developing economies. In America, nearly 4.1 million animals get adopted every year, 2.1 million cats and 2.0 million dogs, respectively. However, the rising prevalence of diseases in small animals is attributed to the growing need for imaging. Pancreatitis, a common and painful disease, is often seen in dogs and cats. Likewise, diseases related to the liver, stomach, small intestine, and many others are also diagnosed through the ultrasound. Furthermore, cats are also seen as low-maintenance pets, as they don’t need any training.
2D ultrasound imaging segment is dominating the global market in 2022 & expected to maintain its dominance during forecast period
In 2022, the 2D ultrasound imaging segment held the largest global share. Applications of 2D ultrasound imaging consist of point-of-care diagnostics, sports medicine, and emergency care. More importantly, cost effectiveness is one of the vital factors for acceptance of this ultrasound. The broad use of 2D ultrasound imaging is helping the segment dominate the global market share.
Digital imaging segment accounts for the largest share in 2022
Digital imaging is the leading contributor to market development, in this segment, primarily due to its remarkable beneficial aspects such as more detailed and clearer image, faster results, and easy access to consultation with a veterinary radiologist. Digital imaging in veterinary medicine has aided to deliver the finest and most recent services to the clients. Furthermore, digital ultrasound technology is rapidly becoming the new normal in the current industry. Due to its noteworthy beneficial aspects, digital ultrasound has become more popular in the veterinary industry. Hence, a huge population prefers digital ultrasound for their pet.
Urology & obstetrics/gynaecology segment held largest global revenue in 2022
The urology and obstetrics/gynaecology segment is dominating the global market with major market share and is expected to grow at a higher CAGR during the forecast period. An upsurge in the use of imaging during pregnancy of the animal is one of the prime factors boosting the market’s development. According to the ASPCA, a cat can have one to two litters every year, with an average of four to six kittens per litter. Also, in a year, a cat can get pregnant nearly five times. This has improved the need for ultrasound, which helps the animals to be diagnosed.
Furthermore, with ultrasonography, it is possible to identify some domestic animals as being pregnant. While transrectal scanning is recommended for horses & cattle, transrectal therapies are recommended for sheep, goats, & pigs, while trans-cutaneous ultrasound scanning is suitable for dogs & cats.
North America is dominating the global market & will continue to dominate in projected Timeframe
North America is projected to have the largest share in the global market. This can be linked to a surge in the humanization of pets, technologically advanced pet hospitals and clinics, and higher adoption rates of pets. Pet insurance and pet spending in the region are major factors driving the growth of the market in this region. For example, as per the Bureau of Labor Statistics, the average annual house-hold spending on the pets rose to USD 770, in 2021. The largest numbers of pets insured were dogs at 82% versus cats at 18% in the U.S. The North American population has a large number of pets, and hence the spending on them has grown to a high extent.
Asia Pacific is the fastest-growing region in the global market during the forecast period. Domestic pets have become an increasingly popular trend in China, Japan, India, and many other Asian countries in recent years. According to Euromonitor, the pet industry in Hong Kong and Mainland China has been experiencing dynamic growth. The rapid development of pet care has enhanced the demand for dependent industries like ultrasound. All the aforementioned factors are attributed to boosting market growth in the region.
Competitive Insight
The major key players in the global animal ultrasound market include IDEXX, Esaote, GE Healthcare, Heska Corporation, Samsung, FUJIFILM Holdings, Shenzhen Mindray, Siemens Healthcare, and Philips.
Recent Developments
- In November 2022, Advanced Veterinary Ultrasound, partnered with the PoC ultrasound, Draminski to deliver robust system for the animals.
- In January 2022, L’Aigle, France- IMV Technologies signed an agreement with a leading veterinary endoscopy company, VES Custom Optics (VESCO) located in the United Kingdom.
Animal Ultrasound Market Report Scope
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Report Attributes |
Details |
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Market size value in 2023 |
USD 466.77 million |
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Revenue forecast in 2032 |
USD 750.92 million |
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CAGR |
5.40% from 2023 – 2032 |
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Base year |
2022 |
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Historical data |
2019– 2022 |
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Forecast period |
2023– 2032 |
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Quantitative units |
Revenue in USD million and CAGR from 2023 to 2032 |
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Segments covered |
By Animal Type, By type, By Technology, By Application, By End Use, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Key companies |
IDEXX, Esaote SpA, GE Healthcare, Sound, Heska Corporation, Samsung, FUJIFILM Holdings America Corporation, Shenzhen Mindray Bio-Medical Electronics, Siemens Healthcare Limited (PLH Medical Ltd.), and Koninklijke Philips N.V. |
FAQ's
The global animal ultrasound market size is expected to reach USD 750.92 million by 2032.
Key players in the IDEXX, Esaote, GE Healthcare, Heska Corporation, Samsung, FUJIFILM Holdings, Shenzhen Mindray, Siemens Healthcare, and Philips N.V.
North America contribute notably towards the global animal ultrasound market.
The global animal ultrasound market expected to grow at a CAGR of 5.40% during the forecast period.
The animal ultrasound market report covering key segments are animal type, technology, type, application, end user, and region.
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