The global animal ultrasound market size was valued at USD 215.47 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 11.0% from 2021 to 2028. The rise in the companion animal population coupled with the growing adoption of pet insurance is anticipated to boost the market growth. Furthermore, an increasing number of veterinary practitioners and technological advancements in the sector are expected to fuel animal/veterinary ultrasound market growth. During the COVID-19 pandemic, the Centers for Disease Control & Prevention (CDC) in August 2020, reported that few animals including dogs and cats were infected by the SARS-CoV-2 after close contact with people suffering from COVID-19.
This also created a wave of fear amongst veterinarians against the treatment of animals suffering from various types of diseases. The pandemic largely affected the livestock supply chain in various areas, such as production, processing & distribution, and markets & consumers. The closure of non-essential businesses, border controls, and travel restrictions hindered farmers from accessing farming inputs, supplies, as well as equipment, including machines. It also caused a temporary shortage of labor and resulted in the loss/waste of animal products as well as animals. This negatively affected the market growth during the pandemic.
The population of companion animals as well as livestock is increasing globally, which is resulting in the rising demand for veterinary services, such as ultrasound. This population is also increasing due to the rising adoption of pets on account of various health benefits associated with them. According to the Pet Food Manufacturers Association, it is estimated that in 2020, in the U.K., 41% of households are expected to own a pet. This equals 12 million pets.
Pandemic Impact |
Post COVID Outlook |
The earlier projections depicting approximately 8.47% YoY growth was countered by the pandemic resulting in a decline of 7.36% in the year-on-year growth rate from 2019 to 2020 |
The market is anticipated to recover post-COVID, with a year-on-year growth rate of 8.98% from 2020 to 2021 |
Most of the market players reported no negative impact on their annual growth rate; however, the adoption of ultrasound was less for animals |
The adoption of pets and pet insurance is also expected to increase, fueling the market growth |
Many veterinary elective procedures, which require an ultrasound, were also postponed or canceled due to the pandemic |
The demand for portable ultrasound devices is also expected to increase post-COVID-19, due to the increasing popularity of Point-of-Care (POC) diagnostics |
Increasing incidences of diseases in animals and the high cost of diagnosis are fueling the demand for pet insurance. According to the North American Pet Health Insurance Association (NAPHIA), the combined gross written premium for the U.S. was USD 1.99 billion in 2020, as compared to USD 1.56 billion in 2019. At the end of 2020, the organization also reported that a total of 3.1 million pets were insured.
The 2-D ultrasound imaging segment accounted for the maximum revenue share of more than 39% in 2020. The segment growth is attributed to the widespread popularity of such devices in pregnancy detection as well as disease diagnosis. Furthermore, less cost as compared to other types of ultrasounds is also expected to boost the market growth.
The 3-D/4-D ultrasound imaging segment is expected to grow at the fastest CAGR of 12.4% over the forecast period owing to the rising technological advancements in the segment. The Doppler imaging segment is expected to account for the second-largest revenue share in 2020 but is expected to lead the market by 2028 owing to its increasing popularity over 2-D ultrasound imaging.
The small companion animals segment accounted for the highest revenue share of more than 54% in 2020. The rising adoption of pets coupled with increasing spending on their well-being and health is expected to boost the market growth. Furthermore, the rising prevalence of cancer and cardiac disorders in dogs and cats, among others is estimated to drive the market growth. The large animals segment is anticipated to grow at the fastest CAGR owing to the increasing incidences of zoonotic diseases in cows, horses, buffalos, etc. Furthermore, the growing livestock population is also anticipated to boost the market growth during the forecast period.
The cart-based ultrasound scanners segment accounted for the maximum revenue share of more than 52% in 2020. The segment growth is attributed to the high adoption of these devices in veterinary clinics, hospitals, and diagnostic centers due to the ease of use. Furthermore, technological advancements by major market players, such as IMV imaging, Sonosite and Celtic SMR, are also expected to boost the market growth during the forecast period.
The handheld scanners segment is expected to grow at the fastest CAGR from 2021 to 2028 owing to the rising technological advancements related to the 2-D ultrasound imaging scanners and their increasing demand, as they can be used at the point of care. Examples of handheld scanners include Duo-Scan by IMV Imaging and C3 Microconvex Vet, L7 Linear Vet, and C3 Convex Vet by Clarius Mobile Health Corp., among others.
The contrast imaging segment accounted for the highest revenue share of more than 51% in 2020 owing to its high penetration in veterinary hospitals and clinics, as compared to the digital imaging segment. Contrast imaging is used for myocardial perfusion and M-mode imaging. Myocardial perfusion, which is majorly used for cardiac infarction diagnosis is used for assessment of the left ventricular free wall and the septum in companion animals, such as cats and dogs.
The digital imaging segment is anticipated to grow at the fastest CAGR from 2021 to 2028 owing to technological advancements by key market players and its rising popularity amongst veterinarians. Furthermore, increased efficiency of radiograph dissemination and production, offered by digital imaging systems is also estimated to fuel the animal/veterinary ultrasound market growth. Also, these systems provide wide viewing area and more latitude exposure, which further increases their efficiency by reducing the requirement of retakes, hence fueling the market growth. ImageVue DR50 Digital Imaging System by IDEXX Laboratories is one of the examples of a digital imaging system for carrying out veterinary ultrasounds.v
The veterinary hospitals & clinics segment accounted for the highest revenue share of more than 56% in 2020. The availability of a wide range of diagnostic alternatives in veterinary hospitals and clinics is anticipated to contribute to the segment growth. Furthermore, technological advancements, such as efficient pet owner mobile technologies and cloud-based information management systems are also estimated to drive the market growth. The adoption of these devices in veterinary hospitals and clinics is more because of their cost-effectiveness and accuracy, which is likely to boost the market growth.
Other end-uses include reference laboratories, diagnostic laboratories, Point-of-Care (PoC) facilities, and academic & research centers, among others. The others segment is expected to grow at the fastest growth rate over the forecast period. Reference laboratories provide comprehensive diagnostic tests for delivering efficient results and consultation services of a specialist. Increasing collaboration activities between market players and the reference laboratories are expected to boost the segment’s growth. End-users, such as academic & research centers and PoC facilities, generally outsource their imaging services to reference laboratories, diagnostic laboratories, and veterinary hospitals, which leads to their low market share.
The cardiology segment accounted for the maximum revenue share of 22.56% of the global market in 2020. The increasing prevalence of cardiac disorders in animals is expected to contribute to market growth. According to Merck Sharp & Dohme Corp., in June 2018, a little more than 10% of animals examined by veterinarians suffered from cardiovascular disease.
The obstetrics and gynecology segment is anticipated to grow at the fastest CAGR of more than 12% during the forecast period owing to the high adoption of ultrasound for pregnancy testing in animals. The orthopedics segment is expected to hold a significant market share owing to increasing incidences of orthopedic diseases in animals.
North America accounted for the largest revenue share of more than 31.6% in 2020 owing to the presence of key players in the U.S. Increasing veterinary healthcare expenditure in the region is expected to drive the market further. In addition, growing number of pet owners coupled with the rising adoption of pet insurance in the region is expected to boost the market growth.
Asia Pacific is expected to grow at the fastest CAGR of 12.2% owing to the rising adoption of companion animals in the region. Furthermore, the rising focus of market players in the Asia Pacific region is expected to boost the market growth during the forecast period. Availability of low-cost animal health products and increasing research & development activities in the region are expected to boost the market growth. Europe and Latin America are also expected to grow at significant growth rates owing to the rising awareness levels regarding advanced veterinary technologies.
The global market is highly competitive. Market players implement strategic initiatives, such as product development & launches, expansion of distribution network, and global footprint through subsidiaries and partnerships. Key players are also involved in portfolio diversification and mergers & acquisition. For instance, in August 2020, IDEXX Laboratories, Inc. launched the ImageVue DR30 Digital Imaging System, hence expanding its imaging portfolio. Some of the key players in the global animal ultrasound market include:
IDEXX
Carestream Health
Esaote SpA
Sound
Fujifilm Sonosite, Inc.
Hallmarq Veterinary Imaging
BCF (IMV Imaging)
Shenzhen Mindray Bio-Medical Electronics Co., Ltd
Siemens Medical Solutions
Heska Corp.
Report Attribute |
Details |
The market size value in 2021 |
USD 234.83 million |
The revenue forecast in 2028 |
USD 488.93 million |
Growth rate |
CAGR of 11.0% from 2021 to 2028 |
Base year for estimation |
2020 |
Historical data |
2016 - 2019 |
Forecast period |
2021 - 2028 |
Quantitative units |
Revenue in USD million/billion and CAGR from 2021 to 2028 |
Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Segments covered |
Animal type, type, technology, scanner type, application, end-use, region |
Regions covered |
North America; Europe; Asia Pacific; Latin America; MEA |
Country Scope |
U.S.; Canada; U.K.; Germany; Italy; France; Spain; Japan; China; India; Brazil; Mexico; South Africa; Saudi Arabia |
Key companies profiled |
IDEXX, Carestream Health; Esaote SpA; Sound; Fujifilm Sonosite, Inc.; Hallmarq Veterinary Imaging; BCF (IMV Imaging); Shenzhen Mindray Bio-Medical Electronics Co., Ltd.; Siemens Medical Solutions; Heska Corp. |
Customization scope |
Free report customization (equivalent up to 8 analysts’ working days) with purchase. Addition or alteration to country, regional & segment scope |
Pricing and purchase options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2028. For the purpose of this report, Grand View Research has segmented the global animal ultrasound market report on the basis of animal type, type, technology, scanner type, application, end-use, and region:
Animal Type Outlook (Revenue, USD Million, 2016 - 2028)
Small Companion Animals
Large Animals
Type Outlook (Revenue, USD Million, 2016 - 2028)
2-D Ultrasound Imaging
3-D/4-D Ultrasound Imaging
Doppler Imaging
Technology Outlook (Revenue, USD Million, 2016 - 2028)
Digital Imaging
Contrast Imaging
Microstream
Scanner Type Outlook (Revenue, USD Million, 2016 - 2028)
Cart-Based Ultrasound Scanners
Handheld Ultrasound Scanners
Application Outlook (Revenue, USD Million, 2016 - 2028)
Orthopedics
Cardiology
Oncology
Obstetrics & Gynecology
Others
End-use Outlook (Revenue, USD Million, 2016 - 2028)
Veterinary Hospitals & Clinics
Others
Regional Outlook (Revenue, USD Million, 2016 - 2028)
North America
U.S.
Canada
Europe
Germany
U.K.
France
Italy
Spain
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
MEA
South Africa
Saudi Arabia
b. The global animal/veterinary ultrasound market size was estimated at USD 215.47 million in 2020 and is expected to reach USD 234.83 million in 2021.
b. The global animal/veterinary ultrasound market is expected to grow at a compound annual growth rate of 11.0% from 2021 to 2028 to reach USD 488.93 million by 2028.
b. North America dominated the animal/veterinary ultrasound market with a share of 31.6% in 2020. This is attributable to presence of key players in the U.S.
b. Some key players operating in the animal/veterinary ultrasound market include IDEXX, Carestream Health, Esaote SpA, Sound, Fujifilm Sonosite, Inc., Hallmarq Veterinary Imaging, BCF (IMV Imaging), Shenzhen Mindray Bio-Medical Electronics Co., Ltd, Siemens medical Solutions, and Heska Corporation, among others.
b. Key factors that are driving the animal/veterinary ultrasound market growth include the rise in the companion animal population coupled with the growing adoption of pet insurance.
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