VALLEY COTTAGE, New York, December 18, 2017 /PRNewswire/ --
Effective imaging technologies such as ultrasound have successful penetrated the diagnostic premises of veterinary healthcare. Over the years, pet clinics and veterinary hospitals are using ultrasound technology to procure accurate and cost-effective images of organs of the animals being treated. A recent report by Future Market Insights projects that global sales of veterinary ultrasound scanners will witness a considerable upsurge in the near future. The study projects that the global market for veterinary ultrasound scanners will reach US$ 198.8 Mn value by the end of 2026.
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The report also projects that during the forecast period, 2017-2026, the global market for veterinary ultrasound scanners will expand steadily at a CAGR of 5.4%. Animal husbandry business across the globe are witnessing a rise in incidence of bacterial diseases, which has compelled the early diagnosis of livestock. Moreover, effective imaging facilitated by ultrasound scanners has propelled their application in veterinary healthcare and diagnostics. However, a key restraint for the growth of the global veterinary ultrasound scanners market is the rising costs of scanners and incompatible technology infrastructure in veterinary clinics across the world.
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North America to Register Highest Sales
According to the report, the demand for veterinary ultrasound scanners is anticipated to gain traction in North America. Pet owners and ranchers in the US are actively opting for proper diagnosis of animals to protect them against zoonotic disorders such as anthrax, bovine tuberculosis, cat scratch fever and animal flu. In addition, the production of veterinary ultrasound scanners in North America has become cost-effective due to easy availability and less-complex procurement of raw materials. By the end of 2026, the veterinary ultrasound scanner market in North America is pegged to be worth over US$ 90 Mn. Europe is also estimated to be at the leading front of global expansion of the veterinary ultrasound scanners market during the forecast period.
High Demand for Portable Veterinary Ultrasound Scanners
The report further reveals that the demand for handheld or portable veterinary ultrasound scanners will be higher than cart-based machines. By the end of 2026, over 87% of revenues procured in the global veterinary ultrasound scanners market will be accounted by the sales of portable scanners. In addition, digital image technology will remain a sought-after, while other ultrasound technologies will witness a sluggish uptake through 2026. In terms of end-use, the veterinary hospitals segment is slated to lead, procuring over US$ 150 Mn revenues by 2026-end. Over the forecast period, the veterinary clinics are also expected to be viewed as key end-users of ultrasound scanners.
The report has also profiled leading companies in the global veterinary ultrasound scanners market, which include Samsung Medison Co., Ltd., Siemens healthineers, BCF Technology Ltd., Esaote SpA, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., DRAMINSKI S. A., ECHO-SON S.A., Caresono Technology Co., Ltd., Sonostar Technologies Co., Limited, and BIONET CO., LTD.
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Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights and an aerial view of the competitive framework and future market trends.
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SOURCE Future Market Insights