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December 2024
The global vet ultrasound system market was estimated at US$ 400 million in 2023 and is projected to grow to US$ 845.41 million by 2034, rising at a compound annual growth rate (CAGR) of 7.04% from 2024 to 2034. The demand for ultrasound systems is high due to the growing number of NGOs and animal shelters for animal care.
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The vet ultrasound system market manufactures and distributes ultrasound devices to hospitals and veterinary clinics. These systems are used for ultrasound imaging during pregnancy or for detecting other conditions in the body. The market is growing due to the growing domestication of animals across the world.
Esaote Group is a well-known manufacturer of animal ultrasonography equipment. Sales for the corporation rose across all business lines in 2023, with the ultrasound segment seeing the most gain at +9.7%. MRI had its second straight record-breaking year in terms of revenue (+3.3%), which enabled the Group to gain significant market shares in key industries and markets. In early 2023, the Group effectively entered technologically competitive market niches thanks to the introduction of MyLab™X90, one of the latest high-end cart ultrasound systems that drove revenue growth.
Due to organizations like PETA, people are becoming more aware of animal cruelty and animal care. Governments, NGOs, and private organizations are taking significant steps like investments, awareness programs, and animal healthcare campaigns to ensure that animals (along with street animals) are getting needed care. Also, there has been a rise in the number of animal shelters that provide shelters to street animals, which is further promoting the growth of the market.
The market faces challenges due to a lack of trained professionals. The industry has fewer veterinary professionals compared to the large population of animals. Due to this, people with financial stability are able to afford the services provided by them.
North America dominated the vet ultrasound system market in 2023. North America significantly contributes to the care of animals. The rise in awareness about animal cruelty has significantly contributed to the growth of the market. People in the region are also going vegan and focusing on animal care to ensure that animals are safe. Various NGOs and private and public organizations are also investing in ensuring animal health.
In the U.S., the Animal and Plant Health Inspection Services (APHIS) are shared by the Animal and Plant Health Inspection Service. To improve the early diagnosis of high-consequence animal illnesses, the organization received $2.3 million in 2023 to fund 14 National Animal Health Laboratory Network (NAHLN) projects. In order to evaluate the health, care, and treatment of animals covered by the AWA, the organization has carried out more than 10,000 AWA site inspections, including more than 900 surprise inspections at research sites.
| Dogs | Cats | |
| Number of households owning | 62M | 37M |
| Average number owned per household | 1.46 | 1.78 |
| Total number in the U.S. | 83,739,829–88,853,254 | 60,217,861– 61,910,686 |
| Veterinary expenditure per household per year | $367 | $253 |
The table shows the number of households that own dogs and cats in the U.S. and veterinary expenditure per house in 2022. This shows that a large population in the U.S. owns animals and spends money on animal care.
The government of Canada also takes necessary steps to care for animals, which significantly promotes the growth of the vet ultrasound system market in Canada.
For instance,
Asia Pacific is expected to grow at the fastest rate during the forecast period. Asia Pacific is the largest region with the largest population, and hence, a large portion of people domesticate and pet animals. The vet ultrasound system market is also growing in the region due to the growing number of veterinary clinics and animal care.
In 2023, China will have more than 120 million pets. While the number of dogs fell by 9% from 2022, they still made up 44% of all pets. Increasing by 6% every year, cats now make up 70% of the total. Of those who keep pets, 34.12 million are dog owners. In the meantime, 36.31 million individuals own cats worldwide.
India is also contributing to the growth of the vet ultrasound system market by developing policies and programs for animal care. Apart from this, the country also has a significant number of veterinary clinics and hospitals that use ultrasound devices.
By type, the 2D ultrasound segment dominated the vet ultrasound system market in 2023. 2D is the most commonly used ultrasound machine used in healthcare. The dominance of the segment is due to affordability, ease of use, and versatility.
By product, the portable segment held the largest share of the market in 2023. Portable ultrasound machines have several advantages that make them an ideal choice for vet ultrasounds. Portable devices are small in size, easily accessible, and can be taken to different locations. Portable devices are useful in providing animal care in remote locations, during campaigns, and at point of care.
For instance,
By technology, the digital segment held the dominant share of the vet ultrasound system market in 2023. Digital ultrasounds are popular due to the integration of digital technology that is useful in providing quality images, storage & retrieval of images, and enhanced diagnostic abilities. With the integration of AI, digital technology has improved even more, and human errors have been reduced significantly.
By application, the obstetrics/gynecology segment dominated the market in 2023. This segment is the market leader because ultrasound devices are used mainly in obstetrics and gynecology. Ultrasound ensures that there are no complications during pregnancy.
By animal, the small animals segment held the majority of market shares in 2023. Small animals include dogs, cats, birds, fishes, rabbits, hamsters, and so on. Small animals are domesticated on a large scale, which is why people actively take steps to ensure that their pets live healthy lives.
By end-user, the veterinary clinics segment dominated the vet ultrasound system market in 2023. These are specialized clinics for animals. People visit veterinary clinics frequently for health check-ups or when their pets are sick. Apart from this, the number of veterinary clinics is growing due to the growing number of people who are domesticating animals.
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