Global Veterinary Equipment and Supplies Market Forecast to 2030
The Global Veterinary Equipment and Supplies Market research report is a complete document that explains the most recent breakthroughs and advancements in the Veterinary Equipment and Supplies industry, using 2019 as the base year and 2022–2030 as the forecast year. The analysis offers insightful data on the market's size, share, sales channels, distribution networks, market segmentation, consumer demands and trends, and growth prospects. The expansion of regional and global markets is also examined in the study. In the paper, the effect of the COVID-19 pandemic on the market for Veterinary Equipment and Supplies and its important sectors is studied.
The global veterinary equipment and supplies market size is expected to reach USD 3.76 Billion at a steady revenue CAGR of 8.1% in 2030, according to the latest analysis by Emergen Research. One of the primary driving factors leading to increased revenue growth in this market is an increase in the companion animal population. Pet ownership, for example, has reached new highs in recent years, according to statistics. According to a 2021–2022 American Pet Products Association (APPA) study, 70% of households possess a pet. During the COVID-19 outbreak, almost 30% of Americans adopted at least one pet. Every year, nearly 3 million dogs enter shelters, yet over 4.1 million are adopted. As the number of companion animals grows, so does the demand for veterinary equipment and supplies.
In recent years, smart wearable technology has been adopted for pets. Wearable collar devices can be used to track a pet's movements, including activity, sleep, and sleep quality. Individuals can quantify the symptoms of illnesses like dermatitis and examine how habits like scratching alter in response to food by tracking their health behaviors. Using smart pet technology to quantify actions like scratching or shaking may aid in the early detection of skin diseases, allowing owners to respond with appropriate dietary modifications. Smart technology can offer data even when the pet parent is not at home and can even provide vets with a more complete picture of a pet's health. Several businesses are working persistently to increase this industry's capabilities, driving market revenue growth.
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Competitive Terrain:
The global Veterinary Equipment and Supplies industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.
The leading market contenders listed in the report are:
- Braun SE, Covetrus, BD, Cardinal Health, Neogen Corporation, Integra LifeSciences, Midmark Corporation, Jorgensen Labs, Shenzhen Mindray Animal Medical Technology Co., LTD., Nonin
Research Report on the Veterinary Equipment and Supplies Market Addresses the Following Key Questions:
- Who are the dominant players of the Veterinary Equipment and Supplies market?
- Which regional market is anticipated to have a high growth rate over the projected period?
- What consumer trends and demands are expected to influence the operations of the market players in the Veterinary Equipment and Supplies market?
- What are the key growth drivers and restraining factors of the Veterinary Equipment and Supplies market?
- What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
- What is the overall impact of the COVID-19 pandemic on the Veterinary Equipment and Supplies market and its key segments?
Market Overview:
The report bifurcates the Veterinary Equipment and Supplies market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
- Type Outlook (Revenue, USD Billion; 2019–2030)
- Critical Care Consumables
- Anesthesia Equipment
- Fluid Management Equipment
- Temperature Management Equipment
- Patient Monitoring Equipment
- Research Equipment
- Rescue and Resuscitation Equipment
- Application Outlook (Revenue, USD Billion; 2019–2030)
- Surgical Application
- Diagnosis, Monitoring, and Therapy
- Animal Type Outlook (Revenue, USD Billion; 2019–2030)
- Small Animals
- Large Animals
- Others
Regional Landscape section of the Veterinary Equipment and Supplies report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.
The various regions analyzed in the report include:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Some Key Highlights From the Report
- On 22 March 2022, Companion Animal Health, a worldwide animal health firm specializing in laser and rehabilitation therapies, announced a strategic collaboration with HT BioImaging to co-brand and distribute the HTVet product exclusively in the United States and Canada, including an equity investment. At the point of service, HTVet provides for the non-invasive, real-time detection of suspected cutaneous and subcutaneous masses.
- The critical care consumables segment is expected to account for the largest revenue share during the forecast period which is attributed to the increased use of consumables for a wide variety of applications such as airway management, wound treatment, reproduction, gastroenterology, and others. Continuous development endeavors and new product launches by leading market players are also driving market revenue growth. Bactiguard, for example, expands its operations and provides infection protection for dogs through cooperation with the Nordic pet retailer Musti Group on 29 June 2021. The partnership revolves around a new range of pet wound care products (Aniocyn). Aniocyn will be sold through Musti retail outlets.
- The diagnosis, monitoring, and therapy segment is expected to register a steady revenue CAGR during the forecast period. Veterinary diagnostics are significant for animal health as they detect health issues before they become serious and enable faster diagnosis and treatment planning. Digital diagnostics unlock the technology's preventative capability by detecting trends in wellness data that human specialists might overlook, so opening up new paths for early sickness identification. Artificial intelligence and other cutting-edge approaches increase the ability to detect risk patterns in ever-increasing data volumes, driving market revenue growth.
- Market in North America is expected to account for the largest revenue share during the forecast period, which is attributed primarily to rising companion animal healthcare spending, growing livestock animal population in the region, and an increase in the pet insurance sector. In addition, new product releases by leading market players are expected to drive market revenue growth over the forecast period. For example, Covetrus, a global provider of animal-health technology and services, announced the release of Covetrus Pulse, an innovative cloud-based Veterinary Operating System (VOS) that instantly connects veterinarians to the technology they need to manage their practices, allowing them to spend more time with animals in their care, on 12 January 2022.
The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Veterinary Equipment and Supplies market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
Key Points of the Geographical Analysis:
- Data and information related to the consumption rate in each region
- Estimated increase in the consumption rate
- Proposed growth of the market share of each region
- Geographical contribution to market revenue
- Expected growth rate of the regional markets
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