Veterinary Equipment Market
Veterinary Equipment Market Forecasts to 2030 - Global Analysis By Product Type (Anesthesia Equipment, Surgical Equipment, Diagnostic Equipment, Monitoring Equipment, Laboratory Equipment, Consumables and Other Product Types), Animal Type, Application, End User and By Geography
According to Stratistics MRC, the Global Veterinary Equipment Market is accounted for $2.2 billion in 2024 and is expected to reach $3.8 billion by 2030 growing at a CAGR of 9.1% during the forecast period. Veterinary equipments are the specialized instruments, tools, and devices used by veterinary professionals for the care, treatment, and management of animals. This equipment is designed specifically for use in veterinary medicine and is essential for providing high-quality medical care to animals. Veterinary equipment also encompasses monitoring devices that track vital signs during treatment, rehabilitation tools for recovery, and basic supplies such as syringes, bandages, and catheters. This equipment is designed to be animal-specific, considering the differences in anatomy and physiology between species.
According to the same source, in Poland, over 49% of the households owned at least one dog, and over 40% owned a cat in 2023. In addition, the Global State of Pet Care report published by the HealthForAnimals Organization in September 2022 highlighted that over half a billion dogs and cats were adopted by families in Europe, along with the United States, Brazil, and China.
Market Dynamics:
Driver:
Rising number of pet ownership globally
The growing number of pet owners has led to a surge in demand for veterinary services, necessitating a greater supply of equipment for routine check-ups, vaccinations, and emergency care. This has led to a robust market for veterinary supplies. The perception of pets as family members has also increased the focus on their health and well-being, encouraging pet owners to invest in high-quality veterinary care and adopting cutting-edge technologies boosting the market growth.
Restraint:
High cost of veterinary equipment
The rising costs of veterinary equipment are leading to a decrease in demand for advanced equipment, particularly in smaller clinics. This may result in a preference for less expensive alternatives, potentially affecting the quality of care. Additionally, high equipment costs can discourage pet owners from seeking necessary veterinary services, leading to postponement of routine check-ups and deterioration of animal health. This could further reduce the demand for veterinary equipment.
Opportunity:
Growing awareness of zoonotic diseases
Growing awareness of zoonotic diseases has led to a surge in demand for advanced veterinary diagnostic equipment, such as imaging technologies and molecular diagnostics, to detect pathogens quickly and accurately. This is being used to prevent the spread of these diseases to humans. Additionally, the increased awareness has prompted a focus on preventive measures, such as vaccination, biosecurity, and infection control protocols, to ensure safe handling and administration of vaccines.
Threat:
Lack of animal healthcare awareness
Pet owners often lack awareness of the importance of regular veterinary care, leading to fewer visits and reduced demand for veterinary equipment. This also results in limited investment in advanced technologies, as veterinarians may opt for basic tools over advanced diagnostic or surgical equipment in regions with low awareness of animal healthcare. This stifles innovation and limits the market for high-quality veterinary products.
Covid-19 Impact:
The COVID-19 pandemic significantly impacted the veterinary equipment market by disrupting supply chains, leading to manufacturing delays and shortages of essential products. Lockdowns resulted in the postponement of non-essential veterinary services, such as routine check-ups and elective procedures, which decreased demand for related equipment like surgical instruments and anesthesia supplies. Additionally, increased operational costs due to safety protocols and the need for personal protective equipment further strained veterinary practices.
The diagnostic equipment segment is expected to be the largest during the forecast period
The diagnostic equipment is expected to be the largest during the forecast period because advanced diagnostic equipment improves early disease detection, leading to better treatment outcomes. This increases pet owners' demand for veterinary care. Technological advancements like point-of-care testing, telemedicine, and AI-driven diagnostics are transforming veterinary practices, improving diagnostic accuracy and streamlining operations, making services more efficient and accessible.
The monitoring segment is expected to have the highest CAGR during the forecast period
The monitoring segment is expected to have the highest CAGR during the forecast period owing to the growing focus on preventive care among pet owners has led to an increase in the use of monitoring equipment, driven by the desire to ensure their animals' health. This has led to a positive economic impact, as pet owners seek comprehensive health management solutions, driving market growth in the veterinary equipment market.
Region with largest share:
North America is projected to hold the largest market share during the forecast period particularly the US and Canada, has high pet ownership rates, driving demand for veterinary services and equipment. The region boasts advanced clinics and hospitals equipped with cutting-edge technology, ensuring top-tier veterinary care with high-quality diagnostic, surgical, and monitoring equipment.
Region with highest CAGR:
Asia Pacific is projected to hold the highest CAGR over the forecast period owing to the growing awareness of animal health and welfare is driving investment in veterinary care, boosting demand for high-quality equipment. Additionally, stricter regulations in the Asia-Pacific region necessitate the use of reliable and effective veterinary equipment, contributing to market growth in compliance with animal health and welfare regulations.
Key players in the market
Some of the key players in Veterinary Equipment market include Avante Animal Health, B. Braun Vet Care GmbH, Becton, Dickinson and Company, Covetrus, Digicare Biomedical Technology Inc., Dispomed Ltd, Jorgensen Labs., Masimo, Medtronic PLC, Midmark Corporation, Mindray Medical International Limited, Nonin, Smiths Medical Inc. and Vetland Medical Sales & Services, LLC
Key Developments:
In July 2024, BD and Quest Diagnostics announced a global collaboration agreement to develop, manufacture and commercialize flow cytometry-based companion diagnostics (CDx), intended to help select the best treatment for patients with cancer and other diseases.
In June 2024, BD and Edwards Lifesciences announced a definitive agreement under which BD will acquire Edwards' Critical Care product group, for $4.2 billion in cash, unlocking new value creation opportunities and enhancing BD's portfolio of smart connected care solutions.
In August 2024, Medtronic plc announced the U.S. Food and Drug Administration (FDA) approval for its Simplera™ continuous glucose monitor (CGM), all-in-one CGM that's half the size of previous Medtronic CGMs. The discreet design simplifies the insertion and wear experience, eliminating the need for overtape.
Product Types Covered:
• Anesthesia Equipment
• Surgical Equipment
• Diagnostic Equipment
• Monitoring Equipment
• Laboratory Equipment
• Consumables
• Other Product Types
Animal Types Covered:
• Companion Animals
• Livestock Animals
• Other Animal Types
Applications Covered:
• Surgery
• Diagnosis
• Monitoring
• Critical Care
• Therapeutic Applications
• Dental Applications
• Other Applications
End Users Covered:
• Veterinary Hospitals
• Clinics
• Research Institutes
• Academic Institutions
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Veterinary Equipment Market, By Product Type
5.1 Introduction
5.2 Anesthesia Equipment
5.3 Surgical Equipment
5.4 Diagnostic Equipment
5.5 Monitoring Equipment
5.6 Laboratory Equipment
5.7 Consumables
5.8 Other Product Types
6 Global Veterinary Equipment Market, By Animal Type
6.1 Introduction
6.2 Companion Animals
6.3 Livestock Animals
6.4 Other Animal Types
7 Global Veterinary Equipment Market, By Application
7.1 Introduction
7.2 Surgery
7.3 Diagnosis
7.4 Monitoring
7.5 Critical Care
7.6 Therapeutic Applications
7.7 Dental Applications
7.8 Other Applications
8 Global Veterinary Equipment Market, By End User
8.1 Introduction
8.2 Veterinary Hospitals
8.3 Clinics
8.4 Research Institutes
8.5 Academic Institutions
8.6 Other End Users
9 Global Veterinary Equipment Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 Avante Animal Health
11.2 B. Braun Vet Care GmbH
11.3 Becton, Dickinson and Company
11.4 Covetrus
11.5 Digicare Biomedical Technology Inc.
11.6 Dispomed Ltd
11.7 Jorgensen Labs.
11.8 Masimo
11.9 Medtronic PLC
11.10 Midmark Corporation
11.11 Mindray Medical International Limited
11.12 Nonin
11.13 Smiths Medical Inc.
11.14 Vetland Medical Sales & Services, LLC
List of Tables
1 Global Veterinary Equipment Market Outlook, By Region (2022-2030) ($MN)
2 Global Veterinary Equipment Market Outlook, By Product Type (2022-2030) ($MN)
3 Global Veterinary Equipment Market Outlook, By Anesthesia Equipment (2022-2030) ($MN)
4 Global Veterinary Equipment Market Outlook, By Surgical Equipment (2022-2030) ($MN)
5 Global Veterinary Equipment Market Outlook, By Diagnostic Equipment (2022-2030) ($MN)
6 Global Veterinary Equipment Market Outlook, By Monitoring Equipment (2022-2030) ($MN)
7 Global Veterinary Equipment Market Outlook, By Laboratory Equipment (2022-2030) ($MN)
8 Global Veterinary Equipment Market Outlook, By Consumables (2022-2030) ($MN)
9 Global Veterinary Equipment Market Outlook, By Other Product Types (2022-2030) ($MN)
10 Global Veterinary Equipment Market Outlook, By Animal Type (2022-2030) ($MN)
11 Global Veterinary Equipment Market Outlook, By Companion Animals (2022-2030) ($MN)
12 Global Veterinary Equipment Market Outlook, By Livestock Animals (2022-2030) ($MN)
13 Global Veterinary Equipment Market Outlook, By Other Animal Types (2022-2030) ($MN)
14 Global Veterinary Equipment Market Outlook, By Application (2022-2030) ($MN)
15 Global Veterinary Equipment Market Outlook, By Surgery (2022-2030) ($MN)
16 Global Veterinary Equipment Market Outlook, By Diagnosis (2022-2030) ($MN)
17 Global Veterinary Equipment Market Outlook, By Monitoring (2022-2030) ($MN)
18 Global Veterinary Equipment Market Outlook, By Critical Care (2022-2030) ($MN)
19 Global Veterinary Equipment Market Outlook, By Therapeutic Applications (2022-2030) ($MN)
20 Global Veterinary Equipment Market Outlook, By Dental Applications (2022-2030) ($MN)
21 Global Veterinary Equipment Market Outlook, By Other Applications (2022-2030) ($MN)
22 Global Veterinary Equipment Market Outlook, By End User (2022-2030) ($MN)
23 Global Veterinary Equipment Market Outlook, By Veterinary Hospitals (2022-2030) ($MN)
24 Global Veterinary Equipment Market Outlook, By Clinics (2022-2030) ($MN)
25 Global Veterinary Equipment Market Outlook, By Research Institutes (2022-2030) ($MN)
26 Global Veterinary Equipment Market Outlook, By Academic Institutions (2022-2030) ($MN)
27 Global Veterinary Equipment Market Outlook, By Other End Users (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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