USD 1.76 billion
Global Veterinary Equipment Market Size, Share, Growth Analysis, By Equipment Type(Critical Care Consumables, Anesthesia Equipment), By Animal Type(North America, Europe) - Industry Forecast 2024-2031
Report ID:
SQMIG35A2185 |
Region:
Global |
Published Date: April, 2024
Pages:
219
|
Tables:
70 |
Figures:
78
Global Veterinary Equipment Market Insights
Global Veterinary Equipment Market was valued at USD 1.76 billion in 2022 and is poised to grow from USD 1.91 billion in 2023 to USD 3.64 billion by the year 2031, at a CAGR of 8.40% during the forecast period (2024-2031).
One of the most important and necessary items for feeding animals is animal equipment. With the use of this technology, animals can live long, work hard, and avoid a number of diseases that are frequently caused by poor nutrition. Feed for domesticated animals, which includes both cattle and companion animals, is referred to as animal feed. Different animals require different kinds of equipment, which can be used for both livestock and companion animals. Animal feed is crucial for the health of the animals since it boosts their resistance to illness, aids in disease prevention, and speeds up their recovery after illness.
Animal feed is essential for the productivity of livestock animals and is critical for the agricultural production of milk, eggs, fibre, and meat. Although deficiencies caused by improved animals are not always outwardly evident, their production is frequently greatly reduced. These deficits cause the animals to grow and reproduce less optimally. As a result, the market for animal equipment is expanding due to the demand for equipment to increase agricultural production and preserve the health of animals.
US Veterinary Equipment Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Diagnostics
Fastest Growth
Surgical Application
Growth Rate
8.40% CAGR
Global Veterinary Equipment Market ($ Bn)
Country Share for North America Region (%)
Global Veterinary Equipment Market Size By Application ($ Bn)
Global Veterinary Equipment Market Size By Application (%)
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Global Veterinary Equipment Market Segmental Analysis
Veterinary Equipment Market is segmented on the basis of equipment type, animal type, distribution channel, end user, treatments, and region. In terms of equipment type, the Veterinary Equipment Market is grouped into critical care consumables, anesthesia equipment, fluid management equipment, temperature management equipment, patient monitoring equipment, research equipment, and rescue & resuscitation bags.
Based on animal type, the Veterinary Equipment Market is classified into small animals, large animals, and other animals. The application segment is bifurcated into surgical application, diagnostics, monitoring, and therapy. Further categorization of the end user Veterinary Equipment Market segment includes clinics, hospitals, and research institutes.
Veterinary Equipment Market Analysis by Application:
The healthcare industry held a 34% market share in 2021. It is estimated that the diagnostics segment will emerge dominant in the coming years. This is owing to the increase in reliance on healthcare for diagnostic purposes. The rise in adoption rate of companion animals and the growing awareness about the presence of zoonotic diseases among such animals automatically propels the need for regular check-up, thereby boosting the diagnostics segment in the global veterinary equipment market.
Veterinary Equipment Market Analysis by End User:
The clinics segment held the dominant share in the market as per segmentation by end-user. This growth can be attributed to the fact that veterinary hospitals and clinics offer a wide variety of therapeutic choices. Over the last few years, the opportunity for segment expansion has been increased as a result of various government animal welfare groups issuing instructions for safety measures and regulations to be implemented in hospitals. Additionally, this expansion can be linked to developed countries' high penetration of veterinary facilities and clinics. The segment's growth is further aided by an increase in veterinary procedures. However, the research institutes segment is predicted to increase profitably in the coming years. The demand for research activities has increased due to better critical care treatment options for small animals, and this demand is what is anticipated to fuel the market throughout the projection period.
Global Veterinary Equipment Market By Application, 2023 (%)
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Global Veterinary Equipment Market Regional Insights
North America contributed 30% share in the global veterinary equipment market in 2022 and emerged dominant. This is credited to a wide range of practical solutions done by governmental animal welfare organisations that consistently work to improve animal health. Additionally, the rise of the animal healthcare market in this region is projected to be fueled by technology advancements, an increase in pet ownership, and an increase in the frequency of zoonotic diseases.
Asia Pacific is projected to serve as the fastest growing region for this market. The growing demand of pet adoption, increased awareness for animal health, intensifying livestock population, growing urbanisation, and rising per capita animal health spending are all factors driving the market for veterinary equipment and disposables in the Asia Pacific region. Growth in the area is projected to be fueled by increasing R&D expenditures by market players and veterinary businesses for the expansion of this market and the production of value-added products. The expansion is being further fueled by the rise in veterinary hospitals and clinics in nations like China and Japan.
Global Veterinary Equipment Market By Region, 2024-2031
- Largest
- Fastest
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Global Veterinary Equipment Market Dynamics
Veterinary Equipment Market Drivers
Demand for animal equipment to minimize animal infections and diseases
- In light of a variety of variables, including an increase in pet ownership, an increase in the prevalence of animal diseases, and an increase in the number of animals, the global market for animal equipment is predicted to expand. The market potential for animal equipment is also being driven by increasing demand for meat and products derived from animals, accessibility and affordability of treatment, and growing awareness of animal health & welfare.
Growth in of companion animal population
- On the worldwide level, an increase in the total number of companion animals and their adoption rate has been seen. Keeping a companion animal is linked to enhanced health, including fewer cardiac arrhythmias, normalised blood pressure, less anxiety, higher psychological stability, and better overall well-being, according to multiple studies. The demand for pet care goods and services is anticipated to rise in response to the growing pet population, which will in turn fuel the expansion of related sectors including those producing veterinarian supplies and equipment.
Veterinary Equipment Market Restraint
High cost of Veterinary equipment
- A strong market restraint is the high cost of these systems and the initial layout connected with the purchase and the maintenance and service of charges. The majority of veterinary offices are small or midsize, with stringent budgetary constraints. Additionally, this has had an impact on the adoption of veterinary equipment, which has expanded at a slower rate than anticipated. In the field of veterinary products, new developments and discoveries frequently occur.
Lack of awareness & standardization of animal equipment
- The lack of awareness in emerging regions, the high starting prices of animal equipment, and the problems related to the lack of standardisation of animal equipment are factors restraining the growth of the worldwide animal equipment market.
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Global Veterinary Equipment Market Competitive Landscape
The market under investigation is moderately consolidated, and most of the major international firms have previously dominated it. It is thought that increased corporate investment in veterinary health will open up the market for more businesses. Additionally, businesses have been using expansion and collaboration strategies to capture market share in developing regions as a result of the rising adoption of animals in developing nations.
Veterinary Equipment Market Top Player's Company Profiles
- Henry Schein Inc.
- IDEXX Laboratories Inc.
- Agfa-Gevaert N.V.
- DRE Veterinary
- Midmark Corporation
- Mindray Medical International Limited
- VCA Antech Inc.
- B. Braun Melsungen AG
- Medtronic Plc
- Jorgensen Laboratories
- Covetrus Inc.
- Vetland Medical Sales & Services LLC
- Heska Corporation
- Digicare Biomedical Technology Inc.
- Vetamac
- Jaken Medical Inc.
- Charles River Laboratories International Inc.
- Smiths Medical
- Scil Animal Care Company GmbH
- Grady Medical Systems Inc.
Veterinary Equipment Market Recent Developments
- In February 2024, ADM Tronics, an innovator in medical and therapeutic technology, completed extensive R&D and commenced production of its Vet-Sonotron non-invasive pain treatment device for the veterinary market. The Vet-Sonotron has demonstrated remarkable results treating musculoskeletal pain.
- In January 2024, SunTech introduced the Vet40 surgical vital signs monitor for companion animals. This new monitor will expand on the features of the clinically validated SunTech Vet BP products.
- In June 2023, medical equipment provider Medray acquired Molloy Veterinary, a Longford-based supplies business. Medray has specialist divisions providing equipment and support services for the radiography, dental and veterinary sectors.
Global Veterinary Equipment Key Market Trends
- Smartwatches and other similarly linked technology are instances of newer technologies and improvements that can benefit the health of all types of pets, from young to old. By enabling veterinarians to monitor the results of their treatment suggestions round-the-clock, wearable technology expands their influence beyond the confines of their clinic. Radio frequency identification, GPS, and sensors are samples of wearables for patient monitoring that have been used for animals. Animal physical health monitoring has increased including the rate at which surgeries are performed on animals. This includes keeping track of the patient's heart rate, respiration rate, blood pressure, oxygen saturation, capillary refill time, etc.
Global Veterinary Equipment Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to the Animal Health Institute (AHI), new advancements in the field of animal healthcare account for 10%–12% of the total revenues of AHI member companies each year. This has led to the creation of a vast array of medical tools and medications, which has further improved the detection, management, and prevention of a wide range of animal health problems. Similarly, the International Federation for Animal Health (IFAH) said that the animal healthcare businesses have invested more than EUR 400 million in research and development. To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to a detailed SkyQuest exclusive matrix.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 1.76 billion |
| Market size value in 2031 | USD 3.64 billion |
| Growth Rate | 8.40% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | 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) |
| Companies covered |
Veterinary Equipment Market Recent Developments
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Veterinary Equipment Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Veterinary Equipment Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Veterinary Equipment 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 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.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Veterinary Equipment Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Veterinary Equipment Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Veterinary Equipment Market Report Snapshots
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