Veterinary Ultrasound Scanners Market

Veterinary Ultrasound Scanners Market Progresses for Huge Profits of
US$ 103.0 Mn During 2017-2025
Transparency Market Research (TMR) states that the competition in the global veterinary
ultrasound scanners market is likely to intensify in the coming few years. Some of the leading
players such as Samsung Medison Co., Ltd, Esaote SpA, Shenzhen Mindray Bio-Medical
Electronics Co., Ltd, and BCF Technology Ltd are expected to focus on emerging economies to
expand their businesses in the near future. Furthermore, growing focus on developing better
handheld devices is also projected to support the market’s growth in the near future. Companies are
also projected to develop budget-friendly machines in order to appeal to a wider subscriber base in
the foreseeable future.
According to the research report, the global veterinary ultrasound scanners market is likely to be
worth US$179.4 mn by the end of 2025 from US$ 103.0 mn in 2016. During the forecast period of
2017 and 2025, the global market is poised to surge at a CAGR of 6%. Out of the various products,
the global market will be led by portable/handheld ultrasound scanners due to the convenience they
offer. Meanwhile, developing countries of Asia Pacific are expected to keep this regional market at
the forefront throughout the forecast period.
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Increasing Expenditure on Animal Healthcare Augments Market Growth
Veterinary ultrasound scanners are used to get a clear picture of animal. The ultrasound scanners are
said to be one of the rewarding techniques since they have many advantages such as noninvasiveness, innocuous, and often portable. Veterinary ultrasound scanners are not only used for
reproductive purpose, but can be used for several applications like musculoskeletal, abdominal,
cardiology and other diagnostic and interventional purpose. The global veterinary ultrasound
scanners market is witnessing a significant growth and is expected to expand at substantial CAGR
during the forecast period of 2017–2025. Increase in world meat export and meat consumption,
injuries to animals due to various kind of animal sports, increase attachments towards pets and
exotic animals has impact on global demand for veterinary ultrasound scanners.
The market is also being supported by the growing ownership of companion animals and livestock.
The increasing inclination toward owning a pet, whether a well-bred animal or an adopted stray, has
had a positive influence on the overall market. Analysts anticipate that growing number of
veterinary clinics are also projected augment the growth of the market as it means that there will be
a rise in the number of practitioners focusing on the well-being of animals. Growing expenditure on
pet healthcare and well-being of livestock due to emotional or financial needs has also been
identified as a key growth driver for the overall market in recent years.
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Lack of Knowledge to Restrain Usage of Ultrasound Scanners in Developing Markets
On the flip side, the global veterinary ultrasound scanners market is likely to be discouraged by the
lack of awareness amongst a wide global population. The poor rate of awareness about animal
healthcare in developing countries is restraining market growth. Furthermore, the consistent
demand for X-ray machines as compared to ultrasounds in emerging economies due to lack of
technological know-how is also projected to hamper the market. The negligible support from
government schemes in certain countries has also been identified as a threat to the market.
Transparency Market Research (TMR) is a global market intelligence company providing business
information reports and services. The company’s exclusive blend of quantitative forecasting and
trend analysis provides forward-looking insight for thousands of decision makers. TMR’s
experienced team of analysts, researchers, and consultants use proprietary data sources and various
tools and techniques to gather and analyze information.
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