The Future of Veterinary Ultrasound Market - Growth, Trends And Analysis


The global veterinary ultrasound market is projected to reach $456 million by 2026. Animal Ultrasound Market Report provides crucial industry insights that will help your business grow.

According to data from the AVMA Census of Veterinarians and Veterinary Practice Owners, veterinarians saw fewer patients per hour, and average productivity declined by almost 25% in 2020, compared with 2019. During the pandemic’s earliest months, veterinary practices operated as essential businesses, seeing only urgent cases. This created a substantial backlog in wellness visits. As restrictions loosened, patients started returning for routine examinations and preventive care. 

 

The veterinary ultrasound market has been negatively impacted by the pandemic, and this trend is expected to continue till December 2021. Unfavorable changes in regulations and guidelines are hampering the growth of this market. The closing down of manufacturing facilities due to lockdowns, disruptions in supply chains, and recruitment challenges for clinical trials have further impacted the growth of the overall veterinary ultrasound market. 

 

 Meanwhile, clients were spending more time at home with their pets, which gave them the opportunity to spot health issues more readily and to think about veterinary care more generally. Many also had more disposable income—from stimulus payments and reduced spending in other areas—that they could now allocate to pet care. 

 

However, it is seen that the market has begun to gradually rise, as expected, from the late second half of 2020. This can be attributed to the increase in the number of ultrasound procedures resulting from the clearing of the backlog, as well as new cases, and fully reopened healthcare services.  

 

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The growing number of veterinarians, especially in developed economies, is one of the major factors driving the growth of the veterinary ultrasound market and its sub-markets. In addition, the income of veterinarians in developed countries has increased in the last few years. According to the U.S. Bureau of Labor Statistics, the total number of veterinarians in the country has increased by around 3.5% from 71,060 in 2018 to 73,710 in 2020. 

 

Advanced ultrasound systems from Esaote SpA (Italy) and GE Healthcare (US) are priced at a premium. Similar to ultrasound systems, the cost of veterinary ultrasound procedures is also high. For instance, abdominal ultrasound costs around USD 250–500.  

 

Specialists such as cardiologists, oncologists, and radiologists offer more expensive services ranging up to USD 500 per area of animal body. The high cost of these procedures has long been a restraining factor for the market, as it prompts pet owners to avoid an ultrasound until it becomes necessary. 

 

Based on the end user, the veterinary ultrasound market is into veterinary clinics, veterinary hospitals academic institutes, and other end users. In 2020, the veterinary clinics segment accounted for the largest share of the global veterinary ultrasound market. The large share of this segment can be attributed to the widespread adoption of ultrasound in veterinary clinics and the growing number of veterinary clinics across the globe. 

 

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