USD 2.2 billion
Report ID: SQMIG35H2139 | Region: Global | Published Date: February, 2024 | Pages: 157 | Tables: 89 | Figures: 76
Veterinary Equipment And Disposables Market size was valued at USD 2.2 billion in 2022 and is poised to grow from USD 2.40 billion in 2023 to USD 4.38 billion by 2030, at a CAGR of 9.0% during the forecast period (2023-2030).
The global veterinary equipment and disposables market has witnessed significant growth in recent years, driven by the increasing demand for pet healthcare services and the rising number of pet ownership worldwide.
The market is characterized by the growing adoption of advanced technologies, such as digital imaging systems, anesthesia equipment, and surgical instruments, to improve diagnosis and treatment outcomes for animals.
Additionally, the expanding awareness regarding animal health and welfare, along with the development of specialized veterinary hospitals and clinics, is further fueling the market's growth.
Moreover, the rising prevalence of zoonotic diseases and the implementation of stringent animal health regulations are expected to provide lucrative opportunities for market expansion in the coming years.
US Veterinary Equipment And Disposables Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 2.2 billion
veterinary hospitals and clinics
veterinary hospitals and clinics
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The global veterinary equipment and disposables market can be segmented based on product type, animal type, region, and end user. In terms of product type, it includes anesthesia equipment, surgical equipment, diagnostic imaging equipment, patient monitoring equipment, and consumables such as syringes, needles, and catheters. Animal type segmentation covers companion animals and livestock. The end users of veterinary equipment and disposables are veterinary hospitals and clinics, research institutes, and others. The market is driven by increasing pet ownership, growing demand for advanced veterinary care, and technological advancements in the field. Geographically, the market is segmented into North America, Europe, Asia Pacific, Latin America, and MEA.
Veterinary Equipment And Disposables Market Analysis By Product
With a market share of over 30% in 2022, the critical care consumables category dominated the market for veterinary equipment and disposables. The increase in utilization of the consumables for numerous applications, including wound care, airway care, gastroenterology, reproduction, and others, can be ascribed to the growth. The growth is being bolstered by the industry players' ongoing product development and releases. For instance, the SureKlot line of products was introduced by integrated wound care business Axio BioSolutions in March 2021. The business entered the veterinary wound treatment market with this launch. The first all-inclusive veterinary wound treatment solution in India is provided by this cutting-edge wound care line. Over the projected period, the sector for rescue and resuscitation equipment is anticipated to increase at the quickest rate. Cardiac Resuscitation (CPR) for cats and dogs must be started right away to manage cardiac arrest. Resuscitation bags and oxygen masks are the different categories of rescue and resuscitation equipment. Due to its rapid effectiveness in saving lives, resuscitation bags held the biggest market share of almost 50.0% under the category of rescue and resuscitation equipment in 2021. However, due to their accessibility at the point-of-care, oxygen masks are also anticipated to expand at a profitable rate.
Veterinary Equipment And Disposables Market Analysis By Animal
In terms of veterinary supplies and equipment, companion animals dominated the market in 2022. This market is expanding as a result of factors like an increase in companion animal ownership, increased emphasis on pet care, and pet owners' overall wellness. In terms of market share among companion animals, dogs dominated in 2022. This has a disproportionately large market share due to an expansion in operations. One of the key factors driving the market is the rising prevalence of chronic disorders in dogs.
Over the anticipated term, Livestock Animal is anticipated to see profitable growth. The market for veterinary supplies and disposables is expected to increase more quickly than average due to the rising trend of pet adoption. While some of the main factors influencing the growth of the livestock animal segment include the rising need for better treatments and diagnostics, rising animal husbandry activities, and rising public awareness of the care of livestock animals. Growing programmes to rescue stray animals and increased use of equipment for rescue and resuscitation are expanding the revenue.
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The global veterinary equipment and disposables market has witnessed significant growth across various regions. North America holds a prominent share due to the presence of advanced veterinary healthcare infrastructure and increasing pet adoption rates. Europe follows suit with a well-established veterinary industry and rising pet expenditure.
Asia Pacific exhibits substantial growth potential owing to the growing awareness regarding animal healthcare and rising disposable income. Latin America and the Middle East & Africa regions are also experiencing steady growth with increasing veterinary services and a rising focus on animal welfare. Overall, the global veterinary equipment and disposables market shows promising opportunities across different regions, driven by factors such as pet ownership trends and veterinary healthcare advancements.
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Veterinary Equipment And Disposables Market Drivers
High Pet Adoption Rate
Veterinary Equipment And Disposables Market Restraints
High Cost of Maintenance
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The global veterinary equipment and disposables market is characterized by a highly competitive landscape with numerous players vying for market share. Major companies in the market are focused on technological advancements and product innovation to gain a competitive edge. These companies invest significantly in research and development activities to introduce advanced veterinary equipment and disposable products that cater to the evolving needs of veterinary professionals. Additionally, strategic collaborations, partnerships, and acquisitions are common strategies employed by key players to expand their product portfolios and geographical presence. There is a growing focus on providing comprehensive solutions that integrate various equipment and disposables to offer convenience and efficiency to veterinary practitioners. As the demand for advanced veterinary care continues to rise, the competitive landscape of the global veterinary equipment and disposables market is expected to remain dynamic and competitive in the coming years.
Veterinary Equipment And Disposables Market Top Player’s Company Profiles
Veterinary Equipment And Disposables Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Product types team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, the global veterinary equipment and disposables market holds promising future prospects driven by various factors. Firstly, the increasing pet ownership and growing awareness regarding animal health have led to a rise in veterinary care and services. This, in turn, drives the demand for advanced equipment and disposables in veterinary clinics and hospitals. Furthermore, the rising prevalence of zoonotic diseases and the need for effective disease control measures in livestock and companion animals fuel the demand for veterinary equipment and disposables. Overall, with the continuous evolution of veterinary practices and the growing emphasis on animal healthcare, the global veterinary equipment and disposables market is expected to witness significant growth in the coming years.
|Market size value in 2022
|USD 2.2 billion
|Market size value in 2030
|USD 4.38 billion
|Forecast Unit (Value)
|North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Veterinary Equipment And Disposables Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Veterinary Equipment And Disposables Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Veterinary Equipment And Disposables Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
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Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
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