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“The global veterinary equipment and disposables market is projected to grow at a CAGR of 8.0%.”
The global veterinary equipment and disposables market is projected to reach USD 2.40 billion by 2023 from USD 1.63 billion in 2018, at a CAGR of 8.0% during the forecast period of 2018 to 2023. Rising animal health expenditure and growing demand for pet insurance, increasing number of veterinary practitioners in developed regions, and growth in the companion animals market are the primary drivers for the global veterinary equipment and disposables market during the forecast period. However, the increasing cost of pet care and a focus on alternatives to animal testing are expected to restrain the growth of this market to a certain extent.
“The critical care consumables segment is expected to register the highest CAGR during the forecast period.”
On the basis of type, the veterinary equipment and disposables market is segmented into anesthesia equipment, temperature management equipment, critical care consumables, rescue & resuscitation equipment, fluid management equipment, research equipment, and patient monitoring equipment. The critical care consumables segment is expected to register the highest CAGR during the forecast period. The high growth rate of this segment is mainly due to the increasing use of consumables in the monitoring and treatment of animals owing to the growing incidence of diseases.
“Veterinary clinics segment expected to grow at the highest CAGR during 2018 to 2023.”
Based on end user, the veterinary equipment and disposables market is broadly segmented into veterinary clinics, veterinary hospitals, and research institutes. The veterinary clinics segment is the fastest-growing segment in the veterinary equipment and disposables market during the forecast period. The growing number of patient visits, an increasing number of private clinical practices, and increasing revenues of veterinary clinics are therefore key factors driving the demand for veterinary equipment and disposables in veterinary clinics.
“APAC is projected to witness the highest growth during the forecast period.”
North America is expected to hold the largest share of the global veterinary equipment and disposables market in 2018. On the other hand, the APAC region is expected to witness the highest CAGR during the forecast period, due to the growing population of companion & livestock animals and rising per capita income in these countries.
Breakup of primary participants was as mentioned below:
- By Company Type – Tier 1–28%, Tier 2–43% and Tier 3–29%
- By Designation – C-level–14%, Director Level–43%, Others–43%
- By Region – North America–43%, Europe–14%, Asia Pacific–29%, Latin America–14%
- By End User – Veterinary hospitals – 47%, Veterinary clinics – 33%, Research Institutes – 20%
- By Designation – Veterinarians – 35%, Veterinary Lab Technicians – 27%, Hospital Directors & Managers – 22%, Others – 16%
- By Region – North America–34%, Europe–22%, Asia Pacific–20%, Latin America –16%, ME&A – 8%
The prominent players in the veterinary equipment and disposables market are Mindray Medical International Limited (China), Smiths Group plc (UK), Nonin Medical (US), Digicare Biomedical Technology, Inc. (US), B. Braun Melsungen AG (Germany), Henry Schein (US), Vetland Medical Sales and Services, LLC (US), Hallowell Engineering & Manufacturing Corporation (US), Infiniti Medical, LLC (US), DRE Veterinary (US), and Midmark Corporation (US).
The report analyzes the various veterinary equipment and disposables and their adoption pattern. It aims at estimating the market size and future growth potential of the global veterinary equipment and disposables market for different segments such as by type, animal, end user, and region. The report also includes an in-depth competitive analysis of the key players in this market along with their company profiles, product offerings, recent developments, and key market strategies.
Reasons To Buy the Report
The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help them garner a greater share. Firms purchasing the report could use one or any combination of the below mentioned five strategies for strengthening the market.
This report provides insights on the following pointers:
- Market Penetration: Comprehensive information on product portfolios offered by the top players in the global veterinary equipment and disposables market. The report analyzes the global veterinary equipment and disposables market by type, animal, end user, and region
- Service Development/Innovation: Detailed insights on upcoming trends and product launches in the global veterinary equipment and disposables market
- Market Development: Comprehensive information on the lucrative emerging regions by type, animal, end user, and region
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the global veterinary equipment and disposables market
- Competitive Assessment: In-depth assessment of market ranking, growth strategies, and products of leading players in the global veterinary equipment and disposables market