Veterinary Ultrasound Scanner Market Report

Americans spend a substantial amount of money on caring and feeding their pets. According to the American Pet Products Association, Americans spend around US$ 136.8 billion on their pets in 2022. Similarly, according to projections from the Office for National Statistics, UK consumers would spend around US$ 2697 million on pets and pet-related products in 2022. The increasing expense of veterinarian treatments and services was primarily responsible for the increase in pet insurance. According to the North American Pet Health Insurance Association (NAPHIA), the North American pet insurance industry exceeded US$ 2.99 billion in 2023, and about 3.45 million dogs in North America were covered in 2022. As a result, increased pet insurance is expected to increase veterinarian visits, contributing to the expansion of the veterinary ultrasound market. For instance, Technological developments are contributing to the development of improved and more accurate ultrasound systems. The cordless Clarius HD3 scanners combine AI-powered imagery with specific animal settings to provide better care for animals of all sizes. All scanners use cutting-edge antenna technology that is compatible with both iOS and Android devices.

Growing need to provide clients with fast and inexpensive ultrasounds puts pressure on clinicians due to a shortage of professional and specially trained, certified sonographers. The scarcity of competent people in the underdeveloped rural areas is a problem since most farms are found in the rural areas. Some countries do not even have authorised veterinary ultrasonography organisations as well as certified people. At the same time, specific training is not provided in several countries, where training programs are represented only by general courses. Thus, ultrasonography procedures are carried out on animals by non-trained human beings. The price of veterinary ultrasonography for treating animals is still high at the time of writing, and the price of animal medical insurance is gradually increasing, restricting the development of veterinary ultrasound business. As it stands, there is a significant lack of specialization when it comes to training personnel in the application and particularly in the analysis of complex ultrasonic imaging techniques. The identified lack of skills limits the usage of ultrasound scanners in veterinary clinics and creates an issue to the quality of services. A lack of skilled professionals also affects the market growth and possible advantages that such complex diagnostic tools can bring.

Market drivers of the veterinary ultrasound scanner are innovation and the introduction of new products. the enhancements in functions and imaging functionalities make it easier to diagnose, thereby deepening the significance of these machines in veterinary practices. New products are available with enhanced resolution, portability, and ergonomic designs to fulfil a variety of veterinarian’s requirements. For instance, In November 2022, Draminski SA, a producer of high-end point-of-care ultrasound (POCUS) and Advanced Veterinary Ultrasound which is a brand of Advanced Ultrasound devices agreed to provide feature-rich devices to the veterinary sector. The merger allows AVU permission to market, sell, as well as maintain Draminski’s portable ultrasound apparatus. In addition, medical equipment distributor GM Medical began marketing iQ+ Vet by Butterfly Network to veterinarians in Norway, Denmark, Sweden and Finland in August 2022. This is the iQ+ Vet which is a second-generation veterinary ultrasound instrument by Butterfly.

The United States is anticipated to have considerable growth in the veterinary ultrasound devices market in North America, due to factors such as expanding pet adoption and rising per capita animal healthcare spending. Furthermore, the rising incidence of numerous animal diseases and internal injuries has been highlighted as the key driver of market expansion. According to the APPA National Pet Owners Survey 2023-2024, 66% of US households (86.9 million) own a pet. Furthermore, pet ownership has increased in neighbouring countries such as Canada and Mexico. According to Pet Keen, which was issued in May 2022, 38% of Canadian homes have a cat and 35% have a dog. According to the same source, pet owners in Canada are spending more money on their pets than ever before, with 17% willing to spend more than US$ 500 per year on pet healthcare. As per the Veterinary Medical Association 2022, there were around 221,461 veterinarian private practises in the United States. The presence of numerous veterinary clinics would benefit the veterinary ultrasound scanner market in this region.