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The veterinary ultrasound market share is expected to increase to USD 108.88 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.44%.
This veterinary ultrasound market research report extensively covers market segmentation by type (2 dimensions, 3 dimensions, and doppler) and geography (North America, Europe, Asia, and Rest of World (ROW)).
The veterinary ultrasound market report also offers information on several market vendors, including BCF Ultrasound Australasia Pty Ltd., Canon Inc., Carestream Health Inc., Chison Medical Technologies Co. Ltd., DRAMINSKI SA, E I Medical Imaging, EDAN Instruments Inc., Esaote Spa, FUZIFILM Sonosite Inc., Hallmarq Veterinary Imaging Ltd., Heska Corp., IDEXX Laboratories Inc., IMV Imaging, Leltek Inc., Mars Inc., Shantou Institute of Ultrasonic Instruments Co. Ltd., Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Siemens Healthcare GmbH, SonoScape Medical Corp., and Xuzhou Kaixin Electronic Equipment Co. Ltd. among others. Furthermore, this report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches.
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The increasing popularity of minimally invasive procedures is notably driving the veterinary ultrasound market growth, although factors such as shortage of trained professionals may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the veterinary ultrasound industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Veterinary Ultrasound Market Driver
Key Veterinary Ultrasound Market Trend
Key Veterinary Ultrasound Market Challenge
This veterinary ultrasound market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global veterinary ultrasound market as a part of the global healthcare equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the veterinary ultrasound market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the veterinary ultrasound market encompasses successful business strategies deployed by the key vendors. The veterinary ultrasound market is fragmented and the vendors are deploying growth strategies such as investment in R&D to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The veterinary ultrasound market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the veterinary ultrasound market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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37% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for veterinary ultrasound in North America. Market growth in this region will be faster than the growth of the market in Rest of World (ROW).
The strong market presence of key vendors such as GE Healthcare, Diagnostic Imaging Systems, Inc., Hesta Corporation, and EI Medical Imaging will facilitate the veterinary ultrasound market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 has spread widely and affected the entire North America, especially in the US and Canada. The rising number of deaths due to COVID-19 led to the imposition of lockdowns in the region, primarily during the H1 of 2020. However, the region has witnessed a decline in the number of COVID-19 cases with the availability and administration of COVID-19 vaccines since Q4 of 2020. The average number of outpatient animals attending clinics to receive treatment for chronic kidney disease, urinary incontinence, and internal injury has increased gradually since the H2 of 2020. This required a greater number of bladder or organ tests to be conducted and also increased demand for animal/veterinary ultrasound at healthcare centers. Therefore, the regional market is expected to grow at a faster pace during the forecast period.
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The veterinary ultrasound market share growth by the 2D ultrasound segment will be significant during the forecast period. 2D ultrasound is a quite efficient, safe, and cost-effective tool for animal organ assessment. It eliminates problems usually faced in handling traditional ultrasound and can be used by any non-specialists or experienced users without facing any difficulties, which will drive the segment growth in the coming years.
This report provides an accurate prediction of the contribution of all the segments to the growth of the veterinary ultrasound market size and actionable market insights on post COVID-19 impact on each segment.
Veterinary Ultrasound Market Scope |
|
Report Coverage |
Details |
Page number |
130 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.44% |
Market growth 2022-2026 |
USD 108.88 million |
Market structure |
Fragmented |
YoY growth (%) |
4.29 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 37% |
Key consumer countries |
US, Canada, Singapore, UK, and Republic of Korea |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
BCF Ultrasound Australasia Pty Ltd., Canon Inc., Carestream Health Inc., Chison Medical Technologies Co. Ltd., DRAMINSKI SA, E I Medical Imaging, EDAN Instruments Inc., Esaote Spa, FUZIFILM Sonosite Inc., Hallmarq Veterinary Imaging Ltd., Heska Corp., IDEXX Laboratories Inc., IMV Imaging, Leltek Inc., Mars Inc., Shantou Institute of Ultrasonic Instruments Co. Ltd., Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Siemens Healthcare GmbH, SonoScape Medical Corp., and Xuzhou Kaixin Electronic Equipment Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Type
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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