Veterinary Equipment and Disposables Market Analysis, Business Revenue Forecast, Size, Leading Competitors and Growth Trends

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.

The veterinary equipment and disposables market is expected 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 (2018–2023).

Rescue and resuscitation segment is expected to grow the fastest in the veterinary equipment and disposables market during the forecast period.

Based on type, the veterinary disposables market consists of critical care consumables used for the treatment of animals. It accounted for the largest share in the market in 2017. The large share of consumables can be attributed to a large number of consumables used with single capital equipment, and their high utilization in almost every veterinary care provided ranging from wound management to fluid therapy.

The veterinary equipment market is segmented as anesthesia equipment, temperature management equipment, rescue & resuscitation equipment, fluid management equipment, research equipment, and patient monitoring equipment. Amongst these, the rescue and resuscitation segment in expected to grow the fastest during the forecast period. Within the segment, the resuscitation bags accounted for the largest share in 2017, primarily due to the frequent use of oxygen masks for managing the animal’s airway during anesthetic procedures and delivering oxygen in animals suffering from respiratory diseases.

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The companion animals segment will continue to dominate the veterinary equipment and disposables market during the forecast period.

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.

Veterinary clinics segment will continue to dominate the veterinary equipment and disposables market during the forecast period.

Based on end user, the market is 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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North America would continue to dominate the market in the forecast period.

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 large share of the market in North America.

Leading Companies

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).

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