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Latest Trends, Research Insights, and Key Profile In Veterinary Ultrasound Market

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Healthcare Research Reports
Latest Trends, Research Insights, and Key Profile In Veterinary Ultrasound Market

Veterinary ultrasound market is largely driven by the growing companion animal population, a growing number of veterinary practitioners in developed countries, technological advancements, and the rising demand for pet insurance and increasing pet care expenditure. Moreover, untapped emerging markets in developing countries are creating lucrative opportunities for the market players. 

 

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. 

 

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. 

 

𝐆𝐞𝐭 𝐌𝐨𝐫𝐞 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬, 𝐆𝐫𝐚𝐛 𝐏𝐃𝐅 @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=10482074 

 

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. 

 

The median pay for veterinarians in the US is USD 99,250. An increase in the number of veterinarians will lead to the establishment of new clinics to a certain extent, which is expected to drive the demand for various veterinary products, including veterinary ultrasound systems. In addition, the increasing income of veterinarians will increase their purchasing capacity, which is further expected to drive the adoption of ultrasound systems in their clinics. 

 

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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. 

 

Emerging economies such as India, China, Brazil, and some other Southeast Asian countries are home to large companion and farm animal populations. However, animal health expenditure in these countries is comparatively lower than in the developed countries across North America and Europe. 

 


Key Market Players

The Veterinary ultrasound market is dominated by a few globally established players such as include GE Healthcare (US), Esaote SpA (Italy), Shenzhen Mindray Bio-medical Electronics Co., Ltd. (China), Siemens Healthineers (Germany), FUJIFILM Holdings Corporation (Japan).


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