According to a new study by Transparency Market Research (TMR), the global market for veterinary ultrasound scanners is witnessing a significant rise in its valuation. The research report, titled “Veterinary Ultrasound Scanners Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016–2023,” offers an unbiased analysis of this market on the basis of key driving forces, challenges, market trends, opportunities, and growth prospects. It also examines the past and current performance of this market to identify the future status of this market.
As per the research study, the increasing need for routine checking of farm animals, on account of the tremendous rise in the global meat consumption, has fueled the demand for veterinary ultrasound scanners across the world, resulting positively on the market’s growth. The increasing expenditure on pet care is also adding to this market substantially. However, the high cost of these scanners may limit their demand in the years to come. The low level of awareness regarding health and fitness of pets and farm animals in developing economies is also projected to create hindrances in the growth trajectory of this market over the next few years, states the research report.
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A geographical analysis of the global market for veterinary ultrasound scanners has also been presented in this report. Among all the regional markets, North America has surfaced as the leading contributor, thanks to the augmenting need for diagnostic tests for animals has been boosting the North America market for veterinary ultrasound scanners. Researchers expect this regional market to continue to dominate over the forecast period on account of the rising awareness level among people regarding veterinary ultrasound scanners for pet animals, reports the study.
Other regional markets are also witnessing a significant rise in their overall share. Asia Pacific, specifically, is likely to emerge as an opportunity-rich market for veterinary ultrasound scanners in the near future, owing to the presence of a large livestock base, including cows, goats, and buffaloes. The changing food habits of consumers, such as the inclusion of animal products in their daily diet, is also anticipated to boost the demand for veterinary ultrasound scanners in this region over the forecast period, states the report.
The competitive landscape of the global market for veterinary ultrasound scanners has also been assessed in this research study. According to the report, Shantou Institute of Ultrasonic Instruments, CHISON, Sonostar Technologies, Sonop Technology, Bionet, Xuzhou Kejian Hi-tech Co. Ltd., Sino-Hero Bio-Medical Electronics Co. Ltd., BCF Technology, Wuhan Zoncare Bio-medical Electronics Co. Ltd., BMV Technology, Echo Control Medical, Shenzhen Biocare Bio-Medical Equipment Co. Ltd., and DRAMINSKI S.A. are some of the leading manufacturers of veterinary ultrasound scanners across the world.
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