Veterinary Ultrasound Devices Market Size

Veterinary Ultrasound Devices Market Analysis

The veterinary ultrasound devices market is poised to grow at a CAGR of 5.6% over the forecast period.

The COVID-19 pandemic has had a significant influence on total veterinary healthcare, owing mostly to restrictions on non-essential operations or hospital visits. The pandemic resulted in delayed or canceled pet care in several nations, causing some veterinarians to be concerned about pet health. However, veterinarians are attempting to combat this by implementing strict COVID-19 safety measures in their clinics and vastly expanding the use of telemedicine for their patients. The pandemic encouraged pet ownership in several nations, resulting in more animal health care, which raised the demand for veterinary ultrasound imaging. For instance, the ASPCA reported in May 2021 that nearly one in every five households had acquired a cat or dog since the beginning of the COVID-19 crisis. Hence, these adoptions of pets enhanced the focus on pet health and aided the growth of the veterinary ultrasound imaging market.

The market is primarily driven by increasing pet adoption and rising animal expenditures coupled with the rising in the adoption of diagnostics imaging for various diseases. According to the Pet Food Manufacturers Association, as of 2021, 3.2 million households in the United Kingdom had acquired a pet since the outbreak began. In the United Kingdom, there are currently 34 million pets, including 12 million cats, 12 million dogs, 3.2 million small mammals such as guinea pigs and hamsters, 3 million birds, and 1.5 million reptiles. Similarly, as per the report by the AVMA on pet ownership and expenditure in the United States, published in October 2022, the percentage of households that own at least one cat increased between 2020 and 2022, from 26% to 29% it also stated that the mean cost of an annual wellness visit for a dog and a cat was USD 192 and USD 169 in 2022. Thus, an increase in pet adoption is expected to increase the healthcare concerns for the diagnosis of pets coupled with veterinary spending is likely to boost market growth over the forecast period.

According to the study report by Front Vet Sci in August 2022, combining the measurement of renal size by ultrasonography with other ultrasonographic characteristics in cats can yield useful clinical data. Hence, the role of ultrasound plays a key role in the assessment of organ functioning which drives the market over the forecast period. However, the lack of skilled personnel and the high cost of devices restrain the market growth over the forecast period.