According to the new market research report “Veterinary Equipment and Supplies Market by Type (Consumables, Patient Monitors, Anesthesia, Infusion Pumps), Application (Surgical (Gynecology, Dental), Diagnosis), Animal (Companion, Bovines), End User (Hospitals, Clinics) - Global Forecast to 2027”, published by MarketsandMarkets™, the global veterinary equipment market is projected to reach USD 2.9 Billion by 2027 from USD 2.0 Billion in 2022, at a CAGR of 8.1% during the forecast period. The Rising animal health expenditure, growing demand for pet insurance, an increasing number of veterinary practitioners in developed regions, and growth in the companion animals segment are the major growth factors for this market.
Browse in-depth TOC on “Veterinary Equipment and Supplies Market”
445 – Tables
61 – Figures
404 – Pages
Download PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=14169630
The Emerging markets, such as India and China, and growing companion animal ownership in the APAC region are also expected to offer significant growth opportunities for players in the veterinary supplies market. However, low animal health awareness and the high costs of veterinary equipment are factors expected to restrain the markets growth to a certain extent.
The impact of the COVID-19 pandemic and the lockdowns it triggered is visible in various markets, including the veterinary equipment and supplies market. In 2020 and early 2021, the overall growth of various sectors was heavily impacted, specifically in countries with a high incidence rate of COVID-19, such as India, Brazil, China, the US, and several European countries (including Russia, Italy, the UK, and Spain).
The COVID-19 pandemic is expected to negatively impact the veterinary equipment market or its growth during the forecast period. The outbreak of COVID-19 originated from a meat market in Wuhan (China), which has negatively affected the consumption of food products derived from animal sources. Unfavorable changes in regulations and guidelines are hampering the growth of this market. The closing down of manufacturing facilities due to lockdowns, disruptions in supply chains, and recruitment challenges for clinical trials have further impacted the overall market growth. Furthermore, trade barriers in various regions are also expected to restrain the markets growth.
The critical care consumables segment accounted for the largest share during the forecast period.
By type, the veterinary equipment and supplies market is categorized into critical care consumables, anesthesia equipment, fluid management equipment, temperature management equipment, rescue & resuscitation equipment, research equipment, and patient monitoring equipment.
The critical care consumables segment accounted for the largest share of the global veterinary supplies market. The large share of this segment can be attributed to the increasing use of consumables in the monitoring & treating of animals owing to the growing incidence of diseases.
Request Sample Pages:
https://www.marketsandmarkets.com/requestsampleNew.asp?id=14169630
The dogs segment accounted for the largest share of small companion animals during the forecast period
The small companion animals segment includes dogs, cats, and other small companion animals. The veterinary equipment and supplies market for dogs accounted for the largest share in 2021. The increasing adoption of dogs and the rising prevalence of chronic diseases are the key factors driving the growth of the veterinary equipment market for dogs.
The surgical application segment accounted for the largest share in the veterinary equipment and supplies market
By application, the veterinary supplies market is categorized into surgical application and diagnosis, monitoring, and therapy. The surgical application segment accounted for the largest share of the global veterinary equipment market. Factors such as the increasing number of pet owners and growing animal healthcare expenditure are leading to improvements in veterinary healthcare infrastructure across the globe, thus encouraging the use of surgical equipment.
The veterinary clinics accounted for the largest share of the global veterinary equipment and supplies market
By end user, the veterinary supplies market is categorized into veterinary clinics, veterinary hospitals, and veterinary research institutes. The veterinary clinics accounted for the largest share of the global market. The large share of this segment can be attributed to the growing number of patient visits and the increasing number of private clinical practices.
Speak to Analyst:
https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=14169630
APAC is expected to grow at the highest growth rate in 2021
The Asia Pacific market is projected to grow at the highest CAGR during the forecast period. Factors such as the growing population of companion & livestock animals and rising per capita income in these countries are driving the growth of this regional segment. The APAC countries, especially India and China, represent the highest growth potential for veterinary equipment and supplies. Livestock farming is a major source of income in these countries. Furthermore, the demand for animal-based products, such as meat and milk, is increasing in the emerging APAC markets.
Key players in the veterinary equipment and supplies market
The prominent players in the veterinary equipment and supplies market are B. Braun Vet Care GmbH (Germany), Covetrus Inc. (US), BD Animal Health (US), Cardinal Health (US), ICU Medical, Inc. (US), Neogen Corporation (US), Integra LifeSciences (US), Midmark Corporation (US), Jorgensen Laboratories (US), Shenzhen Mindray Animal Medical Technology Co., Ltd. (China), Nonin Medical (US), Digicare Animal Health (US), Hallowell Engineering And Manufacturing Corporation (US), Grady Medical (US), Mila International Inc. (US), Burtons Medical Equipment Ltd (UK), Bionet America, Inc (South Korea), Masimo Corporation (US), Vetronic Services Ltd (UK), Advancis Veterinary (UK), New Gen Medical Systems (India), Dispomed (Canada), Eickemeyer (Germany), J & J Instruments (US), and Avante Animal Health (US).
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
Email: sales@marketsandmarkets.com