Animal Ultrasound Market Size $750.92 Million by 2032,CAGR: 5.40%

Animal Ultrasound Market Size Worth $750.92 Million by 2032 | CAGR: 5.40%

The global animal ultrasound market size is expected to reach USD 750.92 million by 2032, according to a new study by Polaris Market Research. The report “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” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The veterinary industry is becoming more advanced with various technologies, trends, and many more facilities. Awareness regarding animal ultrasound has enhanced across the world with the ongoing adoption of various imaging techniques and the use of artificial intelligence. Artificial intelligence is currently the most vital development in veterinary radiology across the whole field of veterinary medicine. For example, in September 2022, the world’s leading veterinary giants have started using artificial intelligence to read X-rays. Mars Inc., which owns over 2,500 veterinary practices globally, employed AI to read radiographs. Bristol, England-based IVC Evidensia also made further progress. The increasing use of AI in animal ultrasound is gaining huge traction globally.

A surge in pet ownership and insurance is likely to enhance market expansion. This is attributed to improving income levels, demographic changes, and many other aspects. The U.S., EU, Brazil, and China alone account for more than half a billion dogs and cats. For example, as per the National Pet Owners Survey 2021–2022, carried out by the American Pet Products Association (APPA), approximately 70% of the U.S. households, or almost 90.5 million families, own a pet. However, the total number of animals insured at year-end 2021 in the U.S. was about 3.9 million, a 28% proliferation since 2020. Pet ownership and insurance are progressively rising across the world, including in emerging economies. This in turn escalated the need for the health of the animals and further increased the demand for pet care products and services. Subsequently, this is supporting dependent industries like animal ultrasound.

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Escalating pet expenditure is one of the key growth factors propelling the growth of the animal ultrasound market internationally. Expanding pet ownership is attributed to increasing spending on animals. This is relatively high in developed countries. For instance, according to the American Pet Products Association's National Pet Owners Surveys, total pet expenditure in the U.S. in 2021 was US$ 123.6 billion. As a result, increasing animal spending is helping the global market grow at a considerable rate.

Animal Ultrasound Market Report Highlights

  • In 2022, small animal segment is expected to lead the global market with a higher share primarily due to increasing adoption of dogs and cats across many regions
  • 2D ultrasound imaging segment had largest revenue share in the global market. This is attributed to low cost than other ultrasound and increased acceptance for disease diagnosis
  • Digital imaging segment is expected to account largest share due to growing awareness regarding digital ultrasound technique for better radiograph production and distribution efficiency
  • The urology & obstetrics/gynecology segment is dominating the global market with higher in the fiscal year 2022. This is attributed to growing use of ultrasound for animal pregnancy testing
  • Veterinary hospitals and clinics segment is accounting highest share in the global market due to their cost-effectiveness & accuracy and accelerating technological advancements
  • North America held the largest share in 2022 due to growing pet ownership and insurance in the region as well as upsurge in the humanization of pets
  • The global players include IDEXX, Esaote, GE Healthcare, Heska Corporation, Samsung, FUJIFILM Holdings, Shenzhen Mindray, Siemens Healthcare, and Philips

Polaris Market Research has segmented the Animal Ultrasound market report based on animal type, technology, type, application, end user, and region:

Animal Ultrasound, Animal Type Outlook (Revenue - USD Million, 2019-2032)

  • Small Animal
  • Large Animal

Animal Ultrasound, Type Outlook (Revenue - USD Million, 2019-2032)

  • 2-D Ultrasound Imaging
  • Doppler Imaging
  • 3D/4D Ultrasound Imaging

Animal Ultrasound, Technology Outlook (Revenue - USD Million, 2019-2032)

  • Digital Imaging
  • Contrast Imaging

Animal Ultrasound, Application Outlook (Revenue - USD Million, 2019-2032)

  • Orthopedics
  • Cardiology
  • Oncology
  • Urology & Obstetrics/Gynecology
  • Others

Animal Ultrasound, End Use Outlook (Revenue - USD Million, 2019-2032)

  • Veterinary Hospitals & Clinics
  • Veterinary Academic Institute
  • Others

Animal Ultrasound, Regional Outlook (Revenue - USD Billion, 2019-2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa