Animal Ultrasound Market Size, Share & Trends Analysis Report By Animal Type (Small Animals, Large Animals), By Solution, By Type, By Technology, By Application, By End-use, By Region, And Segment Forecasts, 2023 - 2030

Animal Ultrasound Market Size, Share & Trends Analysis Report By Animal Type (Small Animals, Large Animals), By Solution, By Type, By Technology, By Application, By End-use, By Region, And Segment Forecasts, 2023 - 2030

Animal Ultrasound Market Growth & Trends

The global animal ultrasound market size is expected to reach USD 731.06 Million by 2030 to expand at a CAGR of 6.50% from 2023 to 2030, according to a new report by Grand View Research, Inc. The key factors driving the market growth include the growing demand for veterinary imaging training, the increasing annual diagnostic imaging caseload in veterinary hospitals & clinics, and industry-related technological advancements. Additionally, it is projected that rising pet insurance acceptance and rising numbers of livestock and companion animals would favorably impact the growth of the animal ultrasound market. Animal ultrasound equipment is used to image animals for general imaging, disease monitoring, and pregnancy detection. Veterinarians utilize these tools to detect illnesses in a variety of animal species at clinics, hospitals, and research facilities.

The market is dominated by developed countries such as the United States and several European countries. Players in this market are increasingly focusing on untapped developing markets. Moreover, strengthening the pet-parent bond is another factor driving the market growth. As more pet owners develop personal relationships with their companion animals, expectations for veterinary treatment are becoming increasingly comparable to those for human medical care. When it comes to their pets' heath, owners are willing to invest more money and time. This factor led to the creation of novel companion animal veterinary specialties, such as bond-centered practices, where doctors talk about the pet's entire lifecycle and discuss any necessary routine diagnostic care for the pet's birth.

The COVID-19 pandemic restricted veterinary testing and diagnostic capacity due to the facility shutdowns. This made it more difficult to access veterinary diagnostic services globally. Additionally, research activities into animal disease diagnosis were stopped as a result of lockdowns and lab closures at veterinary institutions. Due to the logistical problems during the pandemic, such as limits on access to farms and access to veterinary ultrasound, animal disease surveillance and reporting activities, such as outbreak investigation and disease monitoring, were also hampered. These factors had a negative impact on the market.

The adoption and rising humanization of animals in many countries have increased the number of people getting pet insurance globally. For instance, the pet insurance provider Trupanion reported in 2022 that enrollments have climbed to 1,176,778 as of December 2021, a 36% increase from the previous year. For veterinarian diagnosis and imaging treatments, more pet owners are purchasing insurance to lower their out-of-pocket costs. Every type of diagnostic imaging test, including CT, MRI, ultrasound, and radiography, is covered under a comprehensive pet insurance plan. Insurance companies are expanding their coverage as a result of the recently developing AI technology in veterinary diagnostics and taking note of these developments. For instance, in the United States, AI-based diagnostic imaging procedures for animals are covered by the Embrace pet insurance plan, a unit of the NSM insurance group. According to the North American Pet Health Insurance Association's (NAPHIA) 2022 highlights, the total number of pe

ts insured in the U.S. climbed from 2.5 million to 3.5 million in 2020 and reached 3.9 million in 2021.

The second-most often utilized veterinary imaging diagnosis is ultrasound. It produces images of the body parts by applying ultrasonic waves with frequencies ranging from 1.5 MHz to 15 MHz and reading the echo pattern from the tissues. To assess the soft tissues of the musculoskeletal system, imaging equipment like this is frequently used. Joints, pastern, neck/back, pelvis, head, abdominal, cardiac, thoracic, metacarpal, and metatarsal examinations are a few musculoskeletal procedures.

Additionally, it can be utilized to considerably more safely guide the needle of direct biopsy devices. For instance, biopsy combined with ultrasound guidance can be used to remove lesions buried inside the kidney or liver. Ultrasound equipment is less expensive and more portable than other imaging modalities like CT and MRI since it is non-radiographic. Few research projects encourage veterinarians to receive ultrasonography training. For instance, the International Veterinary Ultrasound Society provides a variety of veterinary ultrasound certification programs.

Animal Ultrasound Market Report Highlights

• The equipment segment is expected to grow for the highest revenue share over the forecast period.
• The 2-D ultrasound imaging segment dominated the market with a maximum revenue share of more than 42% in 2022, owing to the widespread popularity of such devices in pregnancy detection as well as disease diagnosis.
• Digital Imaging dominated the market in 2022 due to technological advancements by major market participants and expanding popularity among veterinarians.
• The small animals segment accounted for the highest revenue share in 2022. The rising adoption of pets, coupled with increasing spending on their well-being and health, is expected to boost the market growth.
• Urology & Obstetrics/Gynecology dominated the market in 2022 owing to the high adoption of ultrasound for pregnancy testing in animals.
• The veterinary hospitals & clinics segment accounted for the highest revenue share of more than 65% in 2022. In veterinary hospitals and clinics, a variety of diagnostic options are accessible, which is projected to support segment growth.
• North America is expected to dominate the animal ultrasound market over the forecast period owing to the presence of key players in the U.S.

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