The Veterinary Ultrasound Market is being driven by Increasing popularity of minimally invasive procedures
The Veterinary Ultrasound Market is expected to grow at a CAGR of 4.5% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 88.7 million. In the realm of veterinary care, preventive healthcare is experiencing significant growth due to its increasing popularity among pet owners worldwide. This approach prioritizes routine examinations for companion animals, focusing on vaccinations, nutrition, dental care, infection prophylaxis, and risk factor assessments. As awareness of animal diseases expands, pet owners are increasingly adhering to recommended vaccination schedules and becoming more vigilant about their pets' health. This heightened awareness contributes to earlier disease detection, leading to improved clinical outcomes. Furthermore, the surge in pet insurance adoption offers opportunities for enhanced treatment and care for these cherished animals.
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The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
|
Report Coverage |
Details |
Page number |
134 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.5% |
Market growth 2024-2028 |
USD 88.7 million |
Market structure |
fragmentation |
YoY growth 2023-2024(%) |
4.22 |
Key countries |
US, Canada, Germany, UK, Italy, France, China, India, Japan, Brazil, Egypt, UAE, Oman, Argentina, KSA, UAE, Brazil, Rest of World (ROW), US, UK, Republic of Korea, Canada, and Singapore |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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The Veterinary Ultrasound Market encompasses the use of animal ultrasound technology in veterinary hospitals and clinics for companion animals and large animals. Veterinary practitioners utilize this advanced diagnostic tool for disease identification in various veterinary specializations. IMV imaging, Celtic SMR, and various handheld scanners like C3 Microconvex Vet, C3 Convex Vet, and L7 Linear Vet are popular brands. Pet insurance aids in the affordability of veterinary care, benefiting from digital imaging technology such as magnetic resonance imaging. The pet population growth fuels the demand for portable, compact ultrasound scanners for small companion animals and cart-based systems for large animals.
The Veterinary Ultrasound Market is a significant segment of the global Healthcare Equipment Market, encompassing veterinary hospitals and clinics that utilize advanced Animal Ultrasound Technology. This sector contributes to the market's growth, driven by increasing pet ownership, rising demand for non-invasive diagnostic procedures, and the integration of Pet Insurance coverage for veterinary care. Technavio, a leading global technology research and consulting firm, calculates the size of the Healthcare Equipment Market based on the combined revenue generated by manufacturers of various diagnostic equipment and devices. The market includes Devices, such as advanced, differentiated, and clinically tested ultrasound systems, used for the diagnosis, monitoring, and treatment of various animal health conditions.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
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