Vet US market to surpass 5% growth
by Katie Pfaff
The global market for veterinary ultrasound is projected to grow by $108.88 million during the period of 2021 to 2026, according to Technavio, a market analysis company. During the period, the market was expected to grow at a CAGR of 5.44%.
Just within 2022, the market is expected to grow by 4.29%. Across the entire period of 2021 to 2026, the North American market is projected to hold 37% of the market by region.
Growth across the market is forecast based on the uptick and interest in the use of these minimally invasive procedures. With the growth in minimally invasive surgery requires US to scan areas before, during, and after procedures. At the same time, awareness about the US as a tool to manage and prevent disease has increased its use. Preventive healthcare has increasingly become popular in veterinary care as a whole.
While the overall market of veterinary US is fragmented, a major driver for growth going forward is expected to be an investment in research and development.
On the other side of the spectrum, the market’s growth is expected to be dampened by the lack of veterinary professionals who can perform and interpret US screenings.
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