Veterinary Equipment and Disposables Market Worth $2.40 Billion – Growth in Companion Animal Population

PUNE, India, 2021-Feb-23 — /EPR Network/ —

Major Growth Boosting Factors: 

Veterinary equipment and disposables are used in monitoring, surgeries, and the treatment of diseases in animals. 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 market and veterinary disposables market during the forecast period.

Revenue Growth Opportunities: The Veterinary Equipment and Disposables Market is expected to reach $2.40 Billion, at a CAGR of 8.0% during the forecast period.

Recent Developments:

# In 2017, Vetland Medical (US) launched the Harmony 5 Electronic and the LAS-3000 manual ventilation system under the anesthesia system segment.

# In 2016, Midmark (US) acquired VSSI, Inc. (US) to bring early-stage design and planning expertise, and integrated, built-in equipment solutions to the animal health practice.

# In 2015, Mila International (US) signed an agreement with Cook Medical (US) to offer Cook’s Medical devices for sale to veterinary clinics and veterinary schools in the US.

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Based on the type of animal,

The veterinary equipment market and veterinary disposables market is categorized into small companion animals, large animals, and others which comprise zoo animals, aquatic animals, and exotic animals. Increasing adoption of companion pets, increased focus on safety and efficiency in livestock production, increased expenditure on animal health and preventative care, aging pet population, and advancements in animal health products are the major factors driving the growth of the veterinary equipment and disposables market. Extensive marketing programs sponsored by companion animal health and veterinary supply companies are also expected to contribute to the growth of this market during the forecast period.

Based on end user,

Segmented into veterinary clinics, veterinary hospitals, and research institutes. The veterinary clinics segment is estimated to account for the largest share of the market in 2018. The large share of this segment can be attributed to the growing number of patient visits along with the increasing number of private clinical practices and growing practice revenues

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Geographical Scenario:

North America is estimated to hold the largest share of the veterinary equipment and disposables 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 market.

Global Leaders:

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).