GE Healthcare (US), Esaote SpA (Italy), Siemens Healthineers (Germany), Heska Corporation (US), and Shenzhen Mindray Bio-medical Electronics Co., Ltd. (China) are the leading players in the veterinary ultrasound market. The global veterinary ultrasound market is projected to reach USD 449 million by 2027 from USD 334 million in 2022, at a CAGR of 6.1% during the forecast period. Growth in this market is largely driven by the growing companion animal population, the growing number of veterinary practitioners in developed countries, technological advancements, the rising demand for pet insurance, and increasing pet care expenditure.
GE Healthcare dominated the veterinary ultrasound market in 2021. GE Healthcare is a well-established global brand in the veterinary ultrasound market. The company has global operations and offers a variety of veterinary ultrasound systems. It predominantly provides its products and services to veterinary hospitals, clinics, and research institutes. It has a well-balanced revenue stream among different segments, which results in reduced business risk. This enables the company to rapidly innovate and develop products that suit market demand.
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Esaote SpA is the second-largest player in the veterinary ultrasound market. The company has a diversified portfolio of veterinary ultrasound systems compatible with various applications. As per the company’s website, Esaote is one of the six largest ultrasound manufacturers in the world by volume, with more than 130,000 portable and cart-based ultrasound systems installed globally. Recently, it launched MyLab X75 Vet, a highly responsive ultrasound with a large probe portfolio and dedicated vet software. The firm intends to expand its business in the international market, mainly through agreements and contracts. For instance, in 2021, Esaote signed contractual agreements with Magnet Group (US) and Intalere (US) to provide them access to Esaote’s North American imaging platform.
Siemens Healthineers is a global provider of healthcare solutions and services with activities in numerous countries around the world. The company operates through four major business segments, namely, Imaging, Diagnostics, Varian, and Advanced Therapies. The company provides veterinary imaging products through Imaging Segment, which includes magnetic resonance, computed tomography, X-ray systems, molecular imaging, and ultrasound. The company has a strong presence in over 180 countries, with production sites in the US, China, and Germany. The company’s major end users are public and private healthcare providers, hospitals, clinics, laboratories, universities, physicians, public health agencies, state-run and private health insurers, pharmaceutical companies, as well as clinical research institutes.
Veterinary Ultrasound Market by Type (2D, 3D/4D, Doppler), Product (Portable Scanners), Technology (Contrast, Digital), Animal Type (Small, Large), Application (Gynecology, Cardiology, Orthopedics), End User (Clinics, Hospitals) - Global Forecast to 2027
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