GE Healthcare (US), Esaote SpA (Italy), Shenzhen Mindray Bio-medical Electronics Co., Ltd. (China), Siemens Healthineers (Germany), and FUJIFILM Holdings Corporation (Japan) are the leading players in the Veterinary Ultrasound Market
The global veterinary ultrasound market is projected to reach USD 456 million by 2026 from USD 301 million in 2021, at a CAGR of 7.0% during the forecast period. Growth in this 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.
The global veterinary ultrasound market is fragmented with the presence of many regional and global players like GE Healthcare (US), Esaote SpA (Italy), Shenzhen Mindray Bio-medical Electronics Co., Ltd. (China), Siemens Healthineers (Germany), and FUJIFILM Holdings Corporation (Japan) are the major players in this market. These companies are majorly focusing on the strategies such as agreements, collaborations, partnerships, and service launches in order to remain competitive and further increase their share in the market. Some of the prominent players in the market namely, Heska Corporation (US), Samsung Medison Co., Ltd. (South Korea), Diagnostic Imaging Systems, Inc. (US), IMV Imaging (UK), Shenzhen Ricso Technology Co., Ltd. (China), DRAMIŃSKI S.A. (Poland), Clarius Mobile Health (Canada), Shantou Institute of Ultrasonic Instruments Co., Ltd. (China), E.I. Medical Imaging (US), and SonoScape Medical Corp. (China).
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GE Healthcare dominated the veterinary ultrasound market in 2020. The company’s leading position can be attributed to its comprehensive suite of products and solutions used in the diagnosis, treatment, and monitoring of veterinary patients. Its high focus on R&D enables the company to rapidly innovate and develop products that suit the current market demands. The company distributes its veterinary imaging products to various end users, such as veterinary hospitals, clinics, veterinary universities, and research institutes. The company has a wide geographical presence encompassing the Americas, Europe, the Middle East, Africa, and the Asia Pacific.
Esaote SpA is the second-largest player in the veterinary ultrasound market. It offers a wide range of veterinary ultrasound systems. The company operates in over 80 countries worldwide through an international distribution network. Its subsidiaries and representative offices are present in the US, China, the UK, Germany, the Netherlands, France, Spain, Russia, Argentina, Brazil, India, and Australia. The company is actively launching products in the veterinary ultrasound market to expand its product portfolio. Moreover, it has focused on expanding its business in the international market, mainly through agreements and contracts.
Related Reports:
Veterinary Ultrasound Market by Type (2D, 3D-4D, Doppler), Product (Portable), Technology (Digital, Contrast Imaging), Animal Type (Small, Large), Application (Obstetrics, Cardiology, and Orthopedic), End User (Vet Clinics) - Global Forecast to 2026
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