Veterinary Electrosurgery Market by Product (Bipolar Electrosurgery Instruments and Monopolar Electrosurgery Instruments), Application (General Surgery, Gynecological & Urological Surgery, Dental Surgery, Ophthalmic Surgery, Orthopedic Surgery, and Other), End-User (Pet Hospital, Veterinary Station, and Others): Global Market Size Estimates and Forecast (2022-2030)
The market crossed the US$ 301.15 million mark in 2022 and is expected to hit US$ 567.46 million by 2030, recording a CAGR of 8.2% during the forecast period.
The veterinary ultrasound market has been significantly growing with the growing companion animal population
The increasing range of conditions that animals are susceptible to directly contributes veterinary ultrasound market. The rising prevalence and incidence of disorders in large breed animals leads to frequent ultrasound procedures. Additionally, the companion animal population has witnessed significant global growth over the last few years. For instance, according to the National Pet Owners Survey, in 2021, conducted by the American Pet Products Association (APPA), 70% of the US households, which accounts for approximately 90.5 million families, own a pet. Also, according to an article published by Merck, ultrasound is the second most commonly used imaging format in veterinary practice. Thus, the increasing pet adoption is expected to drive the demand for pet care services, which, in turn, is expected to support the growth of the veterinary ultrasound market.
Within the report, the veterinary ultrasound market is segmented into type, product, technology, animal type, application, end user, and geography. The market is segmented by type: 2D, 3D, 4D, and Doppler. On the basis of product, the market is bifurcated into cart-based ultrasound scanners and portable scanners. By technology, the market is categorized into contrast, analog, and digital. Based on animal type, the veterinary ultrasound market is bifurcated into companion and livestock. On the basis of application, the market is segmented into gynecology, cardiology, and orthopedics. On the basis of end users, the market is segmented into veterinary clinics, veterinary hospitals and academic institutes, and others. Geographically, the market is sub-segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.
The contrast imaging technology segment empowered the growth of the veterinary ultrasound market.
The contrast imaging segment leads the market by technology. Contrast imaging is used for M-mode imaging and myocardial perfusion and provides Doppler and grey-scale enhancement. Myocardial perfusion is majorly used for cardiac infarction diagnosis to assess the septum in companion animals and the left ventricular free wall. Additionally, contrast imaging is a valuable technique in several studies to detect and characterize splenic lesions in dogs and cats. The contrast imaging technique has a strong potential to be more widely used as a first-line or problem-solving tool in the future for routine clinical approaches.
The rising adoption of handheld ultrasound scanners is one of the major factors accelerating the market growth.
Technological advancements result in the development of more precise and efficient ultrasound systems. Key players in the veterinary ultrasound devices market are constantly improving their technologies and launching new and advanced ultrasound devices over time, which is expected to drive growth. For instance, in 2021, Butterfly Network Inc. launched Butterfly iQ+ Vet, a handheld ultrasound scanner that brings sharper imaging, a new procedural guidance tool, and hardware improvements that make the solution more powerful, versatile, and easy to use.
Recent strategic developments in the veterinary ultrasound market
The veterinary ultrasound market has undergone several significant developments, and a few of these have been mentioned below:
- In September 2021, GE Healthcare (US) announced the acquisition of BK Medical to support the expansion of its ultrasound business from diagnostics to surgical and therapeutic interventions.
- In August 2021, Esaote SpA signed an agreement with Magnet Group. The agreement provided Magnet Group members full access to Esaote North America’s comprehensive imaging portfolio and services.
- In January 2021, Esaote SpA completed an agreement with Intalere, providing Intalere members full access to Esaote North America’s comprehensive imaging portfolio and services.
Several players drive the veterinary ultrasound market by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. GE Healthcare; Esaote SpA; Shenzhen Mindray Bio-Medical Electronics Co., Ltd.; Siemens Healthineers; FUJIFILM Holdings Corporation; Heska Corporation; Samsung Electronics Co., Ltd.; Diagnostic Imaging Systems, Inc.; IMV Imaging; and DRAMIŃSKI S.A. are among the prominent players operating in the market.
Target audience for the report:
- Components providers
- Ultrasound scanner manufacturer
- Lens Providers
- Camera Manufacturer
- Ultrasound accessories manufacturer and providers
- Venture capitalists, private equity firms, and start-up companies
- End users of ultrasound equipment
- Established Medical Device Companies
- Technology distributors and wholesalers
Scope of the report:
In this report, the market has been segmented on the basis of:
- Cart-Based Ultrasound Scanners
- Portable Scanners
- Animal Type:
- End User:
- Veterinary Clinics
- Veterinary Hospitals and Academic Institutes
- North America
- Asia Pacific (APAC)
- South & Central America
- Middle East & Africa
- Companies profiled
- GE Healthcare
- Esaote SpA
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
- Siemens Healthineers
- FUJIFILM Holdings Corporation
- Heska Corporation
- Samsung Electronics Co., Ltd.
- Diagnostic Imaging Systems, Inc.
- IMV Imaging
- DRAMIŃSKI S.A.
- Covetrus Inc.,
- Symmetry Surgical Inc.,
- DRE Veterinary
- B.Braun Melsungen AG
- Integra LifeSciences
- Zoetis Services LLC
- Burtons Medical Equipment Ltd
- ALSA APPARECCHI MEDICALI SRL