Market Highlights
The increase in number of veterinary practitioners and rapid development of veterinary healthcare infrastructure can promote the market in the near future. Increase in rate of zoonotic diseases creating the demand for veterinary equipment market can improve impetus of the veterinary market. On the downside, lack of cognizance about animal health, expensiveness of veterinary equipment, and unaffordability of veterinary services can restrain expansion of the veterinary equipment and disposables market.
The global veterinary equipment and disposables market report by Market Research Future (MRFR) reveals that the worldwide veterinary equipment and disposables market can value at USD 1.63 Mn at about 14.70% CAGR by 2023. Across 2018 to 2023, the veterinary equipment and disposables industry 2020 can surge owing to causes, such as; rise in demand for pet insurance and hike in animal health expenditure.
Market Segmentation
The segment assessment for the worldwide veterinary equipment and disposables market are done on the basis of end user, type, and animal type.
The type-based segments of the veterinary equipment and disposables market are anesthesia equipment, critical care consumables, research equipment, fluid management equipment, temperature management equipment, and rescue and resuscitation equipment. The sub-segments of the critical care consumables segment are fluid administration and therapy consumables, wound management consumables, needles, airway management consumables, and gastroenterology consumables among others. The sub-segments of the anesthesia equipment are vaporizers, anesthesia machines, ventilators, gas delivery management systems, and waste gas management systems among others. The sub-segments of the research equipment segment are induction chambers and lab evacuation systems. The sub-segments of the rescue and resuscitation equipment segment are oxygen masks and resuscitation bags.
The animal type-based segments of the veterinary equipment and disposables market are large animals and small animals. The increase in adoption for companion animal can favor market.
The end user-based segments of the veterinary equipment and disposables market are research institutes, veterinary clinics, and veterinary hospitals among others. The veterinary clinics segment can expand at decent pace.
Regional Analysis
North America to secure decent veterinary equipment and disposables market share by 2023.In Europe, the increase in awareness about different vet medicines and introduction of initiatives promoting animal can have positive impact on the regional market. In APAC, the introduction of new animal care products and strategic collaborations among key players can strengthen growth of the market in the region.
In the Americas, the market can dominate with high CAGR, likely to be headed by the US. The growth of the veterinary equipment and disposables market in the region can be credited to surge in per increase in product innovation, hike in per capita animal healthcare expense, and penetration of disruptive technology. In Europe, the market for veterinary equipment and disposables can thrive due to the existence of well-established healthcare system and the availability of effective insurance coverage for pets. In Asia Pacific, the presence of expert veterinarians and rise in animal care centers can contribute significantly to the market surge. Emergence of new markets and the availability of growth opportunities for players can also support veterinary equipment and disposables market in APAC. In the Middle East and Africa, the veterinary equipment and disposables market can exhibit moderate rise due to low disposable income.
Key Players
Smiths Group plc, B. Braun Melsungen AG, Digicare Biomedical Technology Inc., DRE Medical, Henry Schein, Jorgensen Labs, Medtronic, Patterson Companies, Inc., Midmark Corporation, and Vetland Medical Sales Services are some of the key players that are analyzed by MRFR for the global veterinary equipment and disposables market research.
