PUBLISHER: TechSci Research | PRODUCT CODE: 1738284
PUBLISHER: TechSci Research | PRODUCT CODE: 1738284
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Global Veterinary Ultrasound Market was valued at USD 531.29 million in 2024 and is expected to reach USD 814.29 million by 2030 with a CAGR of 7.38% during the forecast period. The global market for Veterinary Ultrasound is experiencing significant growth, driven by the growing prevalence of various pet related diseases like cancer. Additionally, the growing number of veterinary clinics and hospitals across the region and rising uptake of pet care and insurance domain have significantly increased the demand for veterinary ultrasound across different parts of the globe. Besides, increasing disposable income and growing government schemes, combined with various other initiatives across countries for animal healthcare, are expected to support the veterinary ultrasound market during the forecast period. Furthermore, the growing prevalence of cardiovascular disorders, along with the rapidly increasing pet population, is further expected to increase the demand for veterinary ultrasound procedures, thereby supporting the market growth.
Market Overview | |
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Forecast Period | 2026-2030 |
Market Size 2024 | USD 531.29 Million |
Market Size 2030 | USD 814.29 Million |
CAGR 2025-2030 | 7.38% |
Fastest Growing Segment | 3D/4D Ultrasound |
Largest Market | North America |
Key Market Drivers
Rising Companion Animal Ownership and Healthcare Expenditure
The global increase in companion animal ownership is a significant driver for the veterinary ultrasound market. In the United States, for instance, pet ownership has risen from 56% in 1988 to 66% in 2024, equating to approximately 86.9 million households. This surge is not limited to the U.S.; countries like Germany report that 47% of households own pets, with 15% having multiple pets.
This growing pet population has led to increased spending on animal healthcare. In the U.S., pet insurance premiums reached nearly $3.2 billion, with 4.8 million pets insured by the end of 2022, marking a 22% increase from the previous year. Such financial commitment underscores the willingness of pet owners to invest in advanced diagnostic tools like veterinary ultrasound, which offers non-invasive and accurate assessments of various health conditions.
Moreover, governments are recognizing the importance of animal health. For example, the European Union has implemented regulations to ensure animal welfare, indirectly promoting the adoption of advanced veterinary diagnostic tools. These combined factors contribute to the robust growth of the veterinary ultrasound market.
Key Market Challenges
High Costs of Equipment and Procedures
The high cost of veterinary ultrasound equipment and associated procedures poses a significant barrier to market growth. Advanced ultrasound machines can range from $10,000 to over $50,000, making them a substantial investment for veterinary clinics, especially smaller or rural practices.
Additionally, the cost of ultrasound procedures can be prohibitive for pet owners. Abdominal ultrasounds, for example, can cost between $250 and $500, with specialized services potentially exceeding this range. These expenses may deter pet owners from opting for ultrasound diagnostics, particularly in regions without comprehensive pet insurance coverage.
To address this challenge, some governments and organizations are exploring subsidies or financial assistance programs to make veterinary diagnostics more accessible. However, widespread implementation of such initiatives remains limited, and cost continues to be a significant hurdle for the adoption of veterinary ultrasound technologies.
Key Market Trends
Integration of Artificial Intelligence in Veterinary Ultrasound
The integration of Artificial Intelligence (AI) into veterinary ultrasound is an emerging trend that promises to enhance diagnostic accuracy and efficiency. AI algorithms can assist in image analysis, identifying patterns and anomalies that may be challenging for the human eye to detect. This technology aids in early disease detection and improves treatment outcomes. Research initiatives are exploring the application of AI in veterinary ultrasound. For example, studies have demonstrated the potential of AI models in automating point-of-care ultrasound predictions, achieving high accuracy rates in detecting intra-abdominal and intrathoracic injuries in animals. The adoption of AI in veterinary diagnostics is supported by government-funded research and development programs aimed at advancing animal healthcare technologies. These initiatives facilitate the integration of AI into veterinary practices, enhancing the capabilities of ultrasound diagnostics and contributing to market growth.
In this report, the Global Veterinary Ultrasound Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Company Profiles: Detailed analysis of the major companies presents in the Global Veterinary Ultrasound Market.
Global Veterinary Ultrasound Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report: