Veterinary Equipment And Disposables Industry Overview
The global veterinary equipment and disposables market size is expected to reach USD 4.4 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.8% from 2022 to 2030. Increasing pet health expenditure and growing concern among pet owners are driving the market. Advancement in veterinary equipment and growing initiatives by the industry players are boosting the growth. Companies are investing in the expansion of their manufacturing facilities, which is expected to positively influence the revenue over the forecast period. For instance, in June 2021, Veterinary Instrumentation (VI), announced an expansion in the U.S. market. With this expansion, VI is going to bring the support of the expert team to veterinarians and more than 4,000 professional veterinary instruments in the U.S. This initiative is expected to boost the company’s growth, as it allows brand development in North America.
Veterinary Equipment And Disposables Market Segmentation
Grand View Research has segmented the global veterinary equipment and disposables market on the basis of product, animal type, end use, and region:
Based on the Product Insights, the market is segmented into Critical Care Consumables, Anesthesia Equipment, Fluid Management Equipment, Temperature Management Equipment, Rescue & Resuscitation Equipment, Research Equipment, Patient Monitoring Equipment.
The critical care consumables segment dominated the market for veterinary equipment and disposables and held the largest revenue share of over 33.0% in 2021.
The growth can be attributed to increasing usage of the consumables for various applications such as wound management, airway management, gastroenterology, reproduction, and others. Continuous development and new product launches by the industry players are bolstering the growth.
The rescue and resuscitation equipment segment is expected to show the fastest growth over the forecast period. Managing cardiopulmonary arrest requires quick patient assessment, with immediate implementation of Cardiopulmonary Resuscitation (CPR) in cats and dogs.
Rescue and resuscitation equipment is divided into resuscitation bags and oxygen masks. The resuscitation bags segment accounted for the largest market share of over 50.0% under the rescue and resuscitation equipment segment in 2021, owing to their immediate effectiveness in saving lives.
Based on the Animal Type Insights, the market is segmented into Companion Animal, Livestock Animal.
The companion animals segment dominated the market for veterinary equipment and disposables and accounted for the largest revenue share of over 64.0% in 2021. Growth in the companion animal population, rising emphasis on pet care, and wellness by pet owners are contributing to the growth of this segment.
The dogs segment held the largest market share of the companion animals segment in 2021. The dominant share captured by this is a consequence of the increased number of surgeries. The growing incidence of chronic diseases in dogs is one of the major drivers for the market.
The growing trend of pet adoption is anticipated to accelerate the growth of the market for veterinary equipment and disposables. In the last 30 years, pet ownership has increased from 56.0% to 67.0% in all households and nearly 85.0 million households have a pet, according to American Pet Products Association.
The growing demand for better treatment and diagnostics, increasing activities in animal husbandry, and growing awareness about the care of livestock animals are some of the key drivers for livestock animal segment growth. Growing initiatives such as stray animal rescue programs and increasing usage of rescue and resuscitation equipment are boosting the revenue.
Based on the End-use Insights, the market is segmented into Veterinary Hospitals/Clinics, Research Institutes.
The veterinary hospitals/clinics segment dominated the market for veterinary equipment and disposables and accounted for a revenue share of around over 82.0% in 2021. The growth can be attributed to the availability of a wide range of treatment options in veterinary hospitals and veterinary clinics.
Various government animal welfare organizations have issued guidelines for safety practices and standards to be implemented in hospitals, which has broadened the scope for segment growth over the past few years.
The research institutes segment is expected to show lucrative growth over the forecast period. Better critical care treatment options for small animals have triggered the demand for research activities which is expected to drive the segment over the forecast period.
The COVID-19 pandemic has intensified research activities, while veterinary institutes are also focused on finding a solution for African swine fever and Highly Pathogenic Avian Influenza (HPAI).
Veterinary Equipment And Disposables Regional Outlook
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
The market players are constantly involved in strategic initiatives such as new product launches, regional expansion, and mergers and acquisitions to gain deeper penetration.
Some prominent players in the global veterinary equipment and disposables market include
Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
Smiths Medical, Inc.
Nonin Medical, Inc.
Digicare Biomedical
Covetrus, Inc.
B. Braun Melsungen AG
DRE Veterinary
Vetland Medical Sales and Services
Midmark Corporation
Jorgensen Labs
Grady Medical
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