Animal Ultrasound Market To Grow Substantially At A CAGR Of 11.0% By 2028Posted by rahul nikade on October 21st, 2022 Animal Ultrasound Industry Overview The global animal ultrasound market size was valued at USD 215.47 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 11.0% from 2021 to 2028. The rise in the companion animal population coupled with the growing adoption of pet insurance is anticipated to boost the market growth. Furthermore, an increasing number of veterinary practitioners and technological advancements in the sector are expected to fuel animal/veterinary ultrasound market growth. During the COVID-19 pandemic, the Centers for Disease Control & Prevention (CDC) in August 2020, reported that few animals including dogs and cats were infected by the SARS-CoV-2 after close contact with people suffering from COVID-19. Gather more insights about the market drivers, restrains and growth of the Global Animal Ultrasound Market This also created a wave of fear amongst veterinarians against the treatment of animals suffering from various types of diseases. The pandemic largely affected the livestock supply chain in various areas, such as production, processing & distribution, and markets & consumers. The closure of non-essential businesses, border controls, and travel restrictions hindered farmers from accessing farming inputs, supplies, as well as equipment, including machines. It also caused a temporary shortage of labor and resulted in the loss/waste of animal products as well as animals. This negatively affected the market growth during the pandemic. The population of companion animals as well as livestock is increasing globally, which is resulting in the rising demand for veterinary services, such as ultrasound. This population is also increasing due to the rising adoption of pets on account of various health benefits associated with them. According to the Pet Food Manufacturers Association, it is estimated that in 2020, in the U.K., 41% of households are expected to own a pet. This equals 12 million pets. Increasing incidences of diseases in animals and the high cost of diagnosis are fueling the demand for pet insurance. According to the North American Pet Health Insurance Association (NAPHIA), the combined gross written premium for the U.S. was USD 1.99 billion in 2020, as compared to USD 1.56 billion in 2019. At the end of 2020, the organization also reported that a total of 3.1 million pets were insured. Browse through Grand View Research's Animal Health Industry Research Reports
Animal Ultrasound Market Segmentation Grand View Research has segmented the global animal ultrasound market on the basis of animal type, type, technology, scanner type, application, end-use, and region: Animal/Veterinary Ultrasound Animal Type Outlook (Revenue, USD Million, 2016 - 2028)
Animal/Veterinary Ultrasound Type Outlook (Revenue, USD Million, 2016 - 2028)
Animal/Veterinary Ultrasound Technology Outlook (Revenue, USD Million, 2016 - 2028)
Animal/Veterinary Ultrasound Scanner Type Outlook (Revenue, USD Million, 2016 - 2028)
Animal/Veterinary Ultrasound Application Outlook (Revenue, USD Million, 2016 - 2028)
Animal/Veterinary Ultrasound End-use Outlook (Revenue, USD Million, 2016 - 2028)
Animal/Veterinary Ultrasound Regional Outlook (Revenue, USD Million, 2016 - 2028)
Market Share Insights
Key Companies profiled: Some of the key players in the global animal ultrasound market include:
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