Veterinary Equipment and Disposables Market Revenue – Trends, Business Strategies and Opportunities with Key Players Analysis

Pune, India, 2020-Feb-27 — /EPR Network/ —

The Global Veterinary Equipment and Disposables Market is projected to reach the US $2.40 billion by 2023, nearly at a CAGR of 8.0% during the forecast period.

Veterinary equipment and consumables are used in animal hospitals and clinics for various applications, such as anesthetic medication, respiratory support, temperature management, and fluid management. Veterinary equipment is also used in basic biomedical and medical research.

Rising animal health expenditure and growing demand for pet insurance, increasing the number of veterinary practitioners in developed regions, and growth in the companion animal’s market are the primary drivers for the global market during the forecast period.

Veterinary Equipment and Disposables Market segmentation:

• based on type.
• based on animal.
• based on end users
• based on regions.

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The Major Players Operating in the Veterinary Equipment Market:

The prominent players in the veterinary 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).

Smiths Group is the leading player in the global veterinary equipment market. This is mainly attributed to its wide geographic presence and distribution network across the globe. The company primarily focuses on strengthening its extensive global sales network. It aims to grow by making customer satisfaction a priority and providing accurate and timely responses and resolutions to consumer needs. The company also provides clinical support to its customers with information pertaining to clinical aspects of veterinary products, which helps the company increase its customer base.

Rising pet care costs: –

In the last ten years, pet care costs have increased significantly. According to PetMD, the low-to-medium pet care cost is around USD 250 to USD 4,500 in veterinary practices; a high-end procedure costs anywhere between USD 5,000 and USD 20,000. According to APPA National Pet Owners Survey 2017-2018, the average household in the US spent USD 731 on routine doctor and surgical visits for dogs in 2016, an increase of 47% from a decade ago. Similarly, USD 427 is spent on routine doctor and surgical visits for cats

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Objectives of the Study:

• To define, describe, and forecast the global veterinary equipment and disposables market by type, animal, end user, and region
• To provide detailed information about factors influencing market growth (drivers, restraints, opportunities, and industry-specific challenges)
• To strategically analyze micro markets with respect to the individual growth trends, prospects, and contributions to the overall market
• To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players

Geographical Detailed Analysis:

North America is estimated to hold the largest share of the market during the forecast period, followed by Europe and the Asia Pacific.

Factors such as the increasing number of companion animals, rising companion animal healthcare expenditure, rise in the number of livestock animals in North America (primarily due to the increasing consumption of meat and dairy products), and growth in the pet insurance market are responsible for the region’s large share in the global veterinary equipment and disposables market