Veterinary Ventilators Market to Reach US$ 1.3 Bn by End of 2031, Transparency Market Research Inc.

Posted on 2024-03-13 by Transparency Market Research in Healthcare // 0 Comments

Wilmington, Delaware, United States, 2024-Mar-13 — /EPR Network/ — Transparency Market Research Inc. –

The worldwide Veterinary Ventilators industry achieved a valuation of US$ 990.5 million in 2021. Projections indicate a steady growth trajectory, with a Compound Annual Growth Rate (CAGR) of 2.5% expected from 2022 to 2031, surpassing US$ 1.3 billion by the conclusion of 2031.

The prevalence of respiratory ailments among animals is poised to drive growth in the global veterinary ventilators market throughout the forecast period. Technological advancements have yielded sophisticated and effective veterinary ventilators, further fueling market expansion. Additionally, the rising trend of pet ownership is forecasted to contribute to market growth in the foreseeable future.

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Veterinary ventilation aids animals unable to breathe or oxygenate properly. These ventilators are mostly volume-controlled, delivering consistent flow. They sync mandatory breaths with the animal’s efforts, providing comfortable humidified sleep therapy. Advanced models feature real-time pressure-time graphs.

Increase in Pet Ownership Fueling Veterinary Ventilators Market Dynamics

After the COVID-19 pandemic, there has been a notable surge in both pet ownership and spending on pet healthcare. This uptick reflects a growing awareness among pet owners regarding the significance of their pets’ health, leading to an increased inclination towards seeking veterinary care, particularly for respiratory ailments. Consequently, the demand for veterinary care is anticipated to drive growth within the veterinary ventilators industry.

Sophisticated and advanced veterinary ventilators are increasingly being adopted by healthcare providers for addressing a range of respiratory issues in animals. Moreover, the rising trend of pet humanization is poised to further fuel the demand for veterinary ventilators in the foreseeable future.

Key Players:

DRE Veterinary, EICKEMEYER, Miden Medical, Midmark Corporation, Metran Co., Ltd., Smiths Medical (ICU Medical, Inc.), Vetronic Services, JD Medical, RWD Life Science Co., Ltd., and VETMAX

Segmentation:

Product Type
- Electronic
- Pneumatic and Electro-pneumatic
- Others

Animal Type
- Small Animals
- Large Animals

End-user
- Veterinary Hospitals
- Veterinary Clinics
- Others

Key Developments:

In January 2022, ICU Medical Inc. completed the acquisition of Smiths Medical from Smiths Group plc
In November 2021, BestBuds Pet Hospital, a non-profit veterinary hospital was established in Gujarat, India, which boasts of fully equipped operation theater rooms and the country’s first veterinary ventilator

Market Drivers and Challenges:

Drivers: Rise in pet ownership, increasing expenditure on animal healthcare, technological advancements in veterinary equipment.
Challenges: High cost associated with advanced veterinary ventilators, lack of skilled professionals in some regions.

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Market Trends:

Adoption of portable and user-friendly veterinary ventilators.
Integration of advanced monitoring and control features.
Collaboration between veterinary hospitals and equipment manufacturers to improve product offerings.

Regional Outlook:

During the projected period, North America is anticipated to maintain industry dominance, with Europe following closely behind. The surge in companion animal populations and the heightened expenditure on pet healthcare are poised to drive market growth in the region.

In Europe, the veterinary ventilators sector is propelled by ongoing research and development efforts towards innovative ventilator technologies, coupled with a significant presence of livestock in the region. The rising number of pet owners and the increase in disposable income are expected to fuel market expansion in Asia Pacific in the coming years. Meanwhile, in Latin America and the Middle East & Africa, the industry is driven by a rising number of veterinary clinics and hospitals.

Key Market Study Points:

Market size and forecast analysis
Competitive landscape analysis
Regional market dynamics
Emerging trends and opportunities
Regulatory landscape and industry standards

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