The global veterinary ultrasound market was valued at USD 425.5 million in 2023 and is projected to grow at a CAGR of 9.9% through 2031, reaching USD 892.5 million. This expansion is driven by:

• Rising demand for non-invasive diagnostics (currently, 70% of veterinary practices utilize them) ultrasound)
• Increasing pet insurance coverage (45% of policies cover ultrasound) exams)
• Technological advancements (AI-assisted imaging, portable devices)

Key Segments:

• Cart-based Systems (50% market share) – Advanced imaging for specialty hospitals
• Portable Devices (35%) – General point-of-care use practice
• Handheld Scanners (15%) – A Growing Field applications

Primary Applications:

• Cardiology (30%)
• Abdominal Imaging (XX%)
• Reproductive Monitoring (XX%)
• Musculoskeletal (XX%)
• Other (XX%)

Growth Drivers

1. Preventative Care Expansion

• Annual wellness scans up 40% since 2020
• Early disease detection reduces treatment costs by 35%

2. Reproductive Services Demand

• Canine breeding industry worth USD 8B drives pregnancy monitoring
• Equine reproduction market grows at 12% CAGR

3. Emergency Medicine Needs

• FAST exams now standard in 80% of ER clinics
• Contrast-enhanced ultrasound improves trauma assessments

4. Technological Innovations

• AI-guided image interpretation reduces diagnostic time by 50%
• Wireless probes enable remote consultations

Regional Analysis

Case Study:

• Banfield Pet Hospital reduced undiagnosed heart disease by 60% through routine care echocardiography

Competitive Landscape

Top 5 Players:

1. GE Healthcare (30%) – Logiq Vet with AI assistance
2. Esaote (XX%) – MyLab™ Vet series
3. Siemens Healthineers (XX%) – ACUSON Juniper
4. Fujifilm (XX%) – Sonosite PX portable systems
5. Mindray (XX%) – TEVet handheld devices

Recent Developments:

• FDA grants clearance for the first veterinary-specific AI interpretation software
• Zoetis' $ 100 million investment in point-of-care diagnostics