Which Regional Markets Should Veterinary Ultrasound Scanner Manufacturers Focus On? Growing consumer spending on pet care, rising pet companion population, increasing veterinary practitioners, rising pet ownership, and growing awareness about pet health are some major factors that influence the veterinary ultrasound scanners market trajectory. Veterinary ultrasound scanner sales are predicted to rise at a CAGR of 4% from 2022 to 2028, and this analysis suggests the market to end up with a net worth of US$ 240 Mn by the end of the forecast period. Technological advancements have also largely influenced the veterinary care market and this also has had an effect on the veterinary ultrasound scanner demand. The world has also seen a major increase in companion animal population on a global scale, and this has largely influenced the pet insurance and pet care markets. From 2013 to 2021, sales of animal ultrasound scanners rose at a CAGR of 3.8% and the market held a net worth of US$ 181.7 Mn by the end of 2021. Pet adoption and ownership have grown substantially over the past few years and this has definitely given the veterinary industry boost that it required.
In contrast with the mentioned aspects above, some driving points will have a positive impact on the industry growth, which include increasing consumer spending on pets, rising demand for pet insurance and awareness among the population regarding pet adoption in all the regions.Ĭonsumption Analysis of Veterinary Ultrasound Scanner: (2013 to 2021) Vs Market Outlook (2022 to 2028) Key reasons for this change in growth rate are attributed to the slow uptake of the market during the first half of the forecast period, owed to the slow technological advancements in ultrasound scanners and the low adoption rate of the pet by population among all the regions especially during COVID-19 pandemic, which influenced the growth in the market. As compared to H1, 2021, the market is expected to dip by 47 BPS in H1 -2022. Such developments are happening among the key market players mainly to expand the product portfolio of the veterinary ultrasound scanners market.Īccording to FMI analysis, the variation between the BPS values observed in the veterinary ultrasound scanners market in H1, 2022 - Outlook over H1, 2022 Projected reflects a decline of 20 BPS units.
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The effect of macro and industry factors and innovative considerations have a significant impact on the market. How The Market Progressed Till June 2022?įuture Market Insights predict a comparison and review analysis of the dynamics of the veterinary ultrasound scanners market, which is principally subjected to an array of industry factors along with a few definite influences concerning therapeutic viewpoints, which support industry innovation.
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