Veterinary (Animal) Ultrasound Market

Veterinary Ultrasound: A Powerful Diagnostic Tool for Animal Healthcare

Veterinary ultrasound is a medical imaging technology that uses high-frequency sound waves to visualize the internal organs and tissues of animals. This non-invasive and painless diagnostic tool is widely used by veterinarians to identify and diagnose a range of medical conditions in animals. In this essay, we will discuss the benefits and applications of veterinary ultrasound, as well as its limitations and challenges.

Benefits of Veterinary Ultrasound

• One of the primary benefits of veterinary ultrasound is its non-invasive nature. Unlike other diagnostic tools, such as X-rays and CT scans, ultrasound does not expose animals to harmful ionizing radiation. This makes it a safer option for both animals and veterinary professionals.
• Another benefit of veterinary ultrasound is its versatility. Ultrasound can be used to visualize a variety of organs and tissues, including the heart, liver, kidneys, spleen, and reproductive organs. It can also be used to detect pregnancy and monitor fetal development in pregnant animals.
• Additionally, veterinary ultrasound is a valuable tool for guiding procedures such as biopsies and fluid aspirates. By using ultrasound to visualize the targeted area, veterinarians can perform procedures with greater precision and accuracy, reducing the risk of complications and improving outcomes.

Applications of Veterinary Ultrasound

• Veterinary ultrasound has a wide range of applications in animal healthcare. One of its most common uses is for diagnosing and monitoring medical conditions affecting the abdominal organs. For example, ultrasound can be used to detect liver and kidney disease, as well as tumors and cysts in the abdomen.
• Ultrasound is also frequently used for diagnosing and monitoring heart disease in animals. By visualizing the heart in real-time, veterinarians can evaluate the structure and function of the heart and identify abnormalities such as heart murmurs, arrhythmias, and congestive heart failure.
• Another important application of veterinary ultrasound is in reproductive medicine. Ultrasound can be used to detect pregnancy, evaluate fetal development, and monitor the reproductive organs of both male and female animals. This is especially important in breeding programs and for ensuring the health and well-being of animals during pregnancy and childbirth.

Limitations and Challenges of Veterinary Ultrasound

• Despite its many benefits and applications, veterinary ultrasound has some limitations and challenges. One of the main limitations is that ultrasound waves cannot penetrate bone, so it is not effective for imaging the skeletal system. Additionally, ultrasound images can be difficult to interpret in animals with a lot of body fat or gas in the digestive system.
• Another challenge of veterinary ultrasound is that it requires specialized training and equipment. Veterinary professionals must have a strong understanding of ultrasound technology and image interpretation to effectively use ultrasound in animal healthcare. Additionally, high-quality ultrasound equipment can be expensive, making it less accessible for some veterinary practices.

Veterinary Ultrasound Market Dynamics

Drivers in Veterinary Ultrasound Market

The Veterinary Ultrasound market is influenced by various factors, one of which is the increasing number of companion animals globally. The growth in the overall population of companion animals and their adoption rate has been significant. Research shows that owning a companion animal is linked to various health benefits, such as reduced cardiac arrhythmias, lowered blood pressure, reduced anxiety, and improved well-being. This trend is not just limited to developed countries but also in emerging markets such as Brazil, China, India, and Mexico.

According to the American Pet Products Association (APPA) National Pet Owners Survey conducted in 2021-2022, around 70% of US households, which translates to roughly 90.5 million families, own a pet. This figure has risen considerably from the 56% recorded in 1988, the first year the survey was conducted. Additionally, countries such as Brazil, China, Japan, and Mexico have also witnessed significant growth in pet ownership. As the number of pets increases, there will be a rise in demand for pet care products and services, which will lead to the growth of industries that are dependent on pet care, such as the veterinary ultrasound market.

Restraints in Veterinary Ultrasound Market

One of the major challenges faced by the veterinary ultrasound market is the high cost associated with both instruments and procedures. The cost of traditional cart-based ultrasound systems is approximately USD 20,000–25,000, while portable ultrasound systems are priced around USD 10,000–15,000. Similarly, the cost of veterinary ultrasound procedures is also high, with abdominal ultrasounds costing between USD 250–500, and specialized services from cardiologists, oncologists, and radiologists ranging up to USD 500 per area of an animal's body. The high cost of these procedures can discourage pet owners from seeking ultrasounds unless they are absolutely necessary.

The largest contributors to the animal ultrasonography market are developed countries such as the United States and several European nations. However, companies and organizations are increasingly looking towards emerging markets for untapped opportunities. Additionally, fostering is another factor that is boosting market growth, as pet owners are forming closer relationships with their companion animals and are willing to invest more money and attention into their pets' health. As a result, unique veterinary specializations for companion animals, such as bond-centered clinics, have been established, where vets discuss the pet's entire lifecycle and any required routine diagnostic care for the pet's birth. These developments are driving expectations for veterinary care to be more similar to those for human medical care.

Opportunities: Increasing Number of Untapped Emerging Markets

The global ownership of companion animals has witnessed significant growth in recent years, with emerging markets in the Asia-Pacific (APAC) and Latin American regions experiencing a surge in pet ownership. This trend can be attributed to the rise in urbanization rates and an increase in disposable incomes, which have expanded access to animal healthcare and enabled pet owners to spend more on pet care. Countries like Brazil and Argentina, which are major exporters of beef and poultry, have emerged as major competitors to the US export market in recent years. The livestock sector in Latin America has grown at a rate of 3.7% annually, which is higher than the average global growth rate of 2.1%, according to the Food and Agriculture Organization (FAO).

In addition to this, there has been a steady increase in the companion animal population in emerging countries such as India, China, Brazil, and other APAC and Latin American countries in recent years. This, combined with rapid urbanization and increased expenditure on companion animal health, is driving global players to focus on catering to the growing demand for animal health products in these countries.

Furthermore, the animal ultrasound market is expected to see growth due to ongoing technological advancements and the introduction of new, improved ultrasound equipment. Market players are focusing on the development of more precise and effective ultrasound systems, which are expected to have a favorable impact on the market throughout the projection period. For example, Butterfly Network Inc. recently introduced the Butterfly iQ+ Vet, a second-generation handheld ultrasound scanner that offers better imaging and hardware advancements, increasing the solution's capability, versatility, and usability. This is expected to lead to a significant rise in the small animals sub-segment due to increased emphasis on animal health and technical advancements in veterinary imaging diagnosis.

Challenges in Veterinary Ultrasound Market

One of the significant challenges facing the veterinary ultrasound market is the shortage of trained professionals. As the demand for faster and more economical ultrasounds increases, clinicians are experiencing pressure due to the lack of skilled and qualified sonographers. This problem is particularly prevalent in underdeveloped rural areas, where there are more farms than in urban areas. The issue is compounded by the absence of accredited bodies or certifications for veterinary ultrasound in several countries. Additionally, many countries do not offer dedicated training programs, leading to non-trained personnel performing ultrasound procedures on animals.

Ultrasonography is the second most popular imaging technology in veterinary practice, generating images of bodily structures based on echoes reflected from tissues and organs using ultrasonic sound waves. Recent developments in computer technology have significantly influenced equipment design, resulting in smaller transducers and facilitating intra-operative and intra-vascular applications. Software developments have also improved data modification and analysis, increasing the amount of information collected from each test and enabling remote diagnosis. Ultrasound-guided interventional methods for diagnostic or therapeutic applications are now available, and many of these innovations were first introduced by equipment producers but have unique uses in the veterinary market. Today, ultrasound is widely used for disease screening, herd management, clinical research, and as a diagnostic tool in routine clinical examinations of various species.

The small animal segment has been the dominant animal type in the global market, generating the highest revenue share in 2022, and is expected to grow at the fastest CAGR. This growth is attributed to the increasing pet adoption rates and rising expenditures on their care and wellness. Additionally, the prevalence of cancer and cardiac disorders in dogs and cats, among other animals, is expected to further drive market growth. Cats, in particular, are seen as low-maintenance pets, which has contributed to their growing popularity.

Furthermore, younger generations, especially millennials, are expected to increase their ownership of cats, with 45.3 million U.S. households owning cats in 2021, according to the American Pet Products Association. The market is also expanding due to the increasing adoption of pet insurance. The NAPHIA reports that about 4.41 million pets in the region were insured in 2021.

The market is categorized into equipment, accessories/consumables, and PACS based on the solution type, with the equipment segment generating over 58% of the highest revenue share in 2022. The growth of this segment is attributed to the high adoption rates of these devices in veterinary clinics, hospitals, and diagnostic centers, owing to their ease of use. Additionally, technological advancements by major market players such as IMV imaging, Sonosite, and Celtic SMR are expected to further boost market growth during the forecast period.

In 2022, the 2D ultrasound imaging segment dominated the market with over 42% revenue share due to its widespread acceptance in disease diagnosis and pregnancy detection. The low cost of 2D ultrasounds in comparison to other types of ultrasounds has also contributed to the segment's growth. The 2D ultrasound is the most popular type used in veterinary applications because of its ease of use and real-time imaging capabilities.

The 3D/4D ultrasound imaging segment is expected to experience the fastest CAGR of 7.13% during the forecast period, driven by technological advancements and increasing demand in developed nations. Additionally, there has been a rise in R&D activities in 3D/4D ultrasound. The Doppler imaging segment is expected to account for the second-largest revenue share in 2022.

The digital imaging segment had the highest revenue share in 2022 due to the technological developments offered by significant market players and the growing demand for veterinary services. The higher radiograph production and distribution efficiency of digital imaging systems is expected to fuel market growth. These systems also offer a larger viewing area and greater latitude exposure, which can lower the need for retakes and increase efficiency. For instance, the IDEXX Laboratories' ImageVue DR50 Digital Imaging System is a digital imaging system that can be used for veterinary ultrasounds.

In 2022, the urology & obstetrics/gynecology segment held the largest revenue share, contributing to over 25% of the animal ultrasound market. During the forecast period, this segment is expected to grow at the fastest compound annual growth rate (CAGR) of over 7.00%. This growth is attributed to the increasing use of ultrasound in animal pregnancy testing. Ultrasound is an accurate and early method of detecting pregnancy in many domestic animals. For dogs and cats, transcutaneous ultrasound scanning is appropriate, while transrectal sonography is recommended for horses and cattle, and transrectal or transcutaneous treatments are used for sheep, goats, and pigs.

The cardiology segment is expected to be the second largest segment in the animal ultrasound market, mainly due to the rising prevalence of heart diseases in animals. Aging and obesity are the primary causes of animal heart disease. For instance, Myxomatous Mitral Valve Disease (MMVD) is the most common cardiac condition in dogs, and small and elderly dogs are more likely to develop this condition.

The veterinary hospitals & clinics segment is anticipated to have the highest revenue share of more than 65% in 2022. The availability of a wide range of diagnostic alternatives in veterinary hospitals and clinics is expected to drive the growth of this segment. Additionally, the adoption of technological advancements such as effective pet owner mobile technologies and cloud-based information management systems in veterinary hospitals and clinics is likely to fuel market growth. These devices are preferred due to their cost-effectiveness and accuracy, which is expected to boost market growth.

The prominent players in Veterinary Ultrasound Market

• GE HEALTHCARE
• ESAOTE SPA
• SHENZHEN MINDRAY BIO-MEDICAL ELECTRONICS CO., LTD.
• SIEMENS HEALTHINEERS
• FUJIFILM HOLDINGS CORPORATION
• HESKA CORPORATION
• SAMSUNG ELECTRONICS CO. LTD.
• DIAGNOSTIC IMAGING SYSTEMS INC.
• IMV IMAGING
• SHENZHEN RICSO TECHNOLOGY CO., LTD.
• DRAMINSKI S.A.
• SHANTOU INSTITUTE OF ULTRASONIC INSTRUMENTS CO., LTD.
• CLARIUS MOBILE HEALTH
• SONOSCAPE MEDICAL CORP.
• E.I. MEDICAL IMAGING
• BMV TECHNOLOGY CO., LTD.
• EDAN INSTRUMENTS, INC.
• XUZHOU KAIXIN ELECTRONIC INSTRUMENT CO., LTD.
• SOUND
• REPROSCAN
• INTERSON CORPORATION
• SCINTICA INSTRUMENTATION, INC.
• LEPU MEDICAL TECHNOLOGY
• PROMED TECHNOLOGY CO., LTD

Recent Developments in Veterinary Ultrasound Market

The veterinary ultrasound market has seen recent developments in the industry. In September 2021, GE Healthcare (US) completed its acquisition of BK Medical (US), expanding its ultrasound business from diagnostics to surgical and therapeutic interventions.

In August 2021, Esaote SpA (Italy) completed an agreement with Magnet Group (US), providing Magnet Group members full access to Esaote North America's imaging portfolio and services. This includes the MyLab ultrasound portfolio and the dedicated MRI product line.

In January 2021, Esaote SpA (Italy) completed a similar agreement with Intalere (US), providing its members full access to Esaote North America's comprehensive imaging portfolio and services, including the MyLab ultrasound portfolio and dedicated MRI product line. These developments are expected to have a significant impact on the growth of the veterinary ultrasound market, offering more advanced and comprehensive imaging solutions for veterinary clinics, hospitals, and diagnostic centers.

The veterinary ultrasound market has seen several recent developments in technology and advancements in the industry. These developments have improved the efficiency and accuracy of ultrasound imaging, leading to better animal healthcare outcomes.

One notable development is the introduction of handheld ultrasound scanners, which are portable and allow for easy movement between patients. This technology has made ultrasound imaging more accessible and efficient, particularly for smaller animals. For example, Butterfly Network Inc. introduced the Butterfly iQ+ Vet, a second-generation handheld ultrasound scanner that offers better imaging, a new procedural guidance tool, and hardware advancements that increase the solution's capability, versatility, and usability.

Additionally, there has been a significant focus on improving the accuracy of ultrasound imaging. Several companies have developed new technologies that enable more precise imaging of specific areas of the body. For instance, Fujifilm Sonosite developed an advanced micro-convex transducer that provides high-resolution images of the upper abdomen and thorax of small animals.

Moreover, there has been a growing trend towards the integration of artificial intelligence (AI) in ultrasound imaging. AI technology can help identify abnormalities and assist in the diagnosis of various medical conditions, leading to improved outcomes for animals. For example, Esaote, a global leader in veterinary ultrasound, introduced its MyLab9 eXP ultrasound system with AI-powered advanced technologies such as ultra-elastic shear wave elastography and Virtual Navigator fusion imaging.

Another development in the veterinary ultrasound market is the rise of telemedicine. This technology allows veterinarians to remotely diagnose and monitor animal health conditions through video consultations and ultrasound imaging. This technology has been particularly beneficial for remote and rural areas, where access to veterinary care may be limited.

Overall, these recent developments in the veterinary ultrasound market are contributing to improved animal healthcare outcomes and increased accessibility to veterinary care. As technology continues to advance, the potential for further advancements in ultrasound imaging and other areas of animal healthcare is promising.