Veterinary Equipment and Supplies Market 2030, By Product Type (Critical Care Consumables, Anaesthesia Equipment, Fluid Management Equipment, Temperature Management Equipment, Patient, Rescue & Resuscitation Equipment), Technology Level, Application, End User and Region - Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional Footprints by MarketDigits

Industry : Healthcare | Pages : 193 Pages | Published On : Mar 2024

         
     

Veterinary Equipment, and Supplies market was valued USD 2.1 Billion in 2023 and projected to reach USD 3.8 Billion by 2030, growing at a CAGR of 7.56% during the forecast period of 2023-2030.

Veterinary Equipment and Supplies Market Size


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             2019                         2023-2030      

ReportDetails
Market Size ValueUSD 2.1 Billion in 2023
Market Size ValueUSD 3.8 Billion by 2030
CAGR7.56%
Forecast Period2023-2030
Historic Data2019
Forecast UnitsValue (USD Million/USD Billion)
Segments CoveredProduct Type, Technology Level, Application, End-user and Region
Geographics CoveredNorth America, Europe, Asia Pacific, and RoW

Major vendors in the global Veterinary Equipment and Supplies market: Avante Animal Health, B. Braun SE, Cardinal Health., Covetrus, Eickemeyer KG, Grady Medical., Jorgensen Laboratories, Midmark Corporation., Neogen Corporation, RWD Life Science Co., LTD, Shenzhen Mindray animal medical technology co., Ltd., and Others.

Market Overview

The veterinary equipment and supplies market plays a vital role in supporting veterinarians worldwide in diagnosing, treating, and caring for animals. The market is driven by the escalating trend of rising pet ownership globally, with a notable shift towards pet humanization, propelling the demand for advanced veterinary services and equipment. Ongoing advancements in veterinary medicine, encompassing diagnostic technologies, surgical techniques, and treatment options, further contribute to the increasing demand for modern and efficient equipment. The growing emphasis on preventive healthcare for pets is fostering a surge in demand for diagnostic tools, vaccination equipment, and other preventive care supplies. The expansion of the livestock industry is a key driver, necessitating sophisticated veterinary equipment for the health management and disease prevention of large animal populations. Stringent regulatory compliance related to animal health and welfare is compelling veterinary practices to adopt compliant equipment and supplies. Economic growth in emerging markets, the globalization of veterinary care, and the specialization in veterinary services are additional factors influencing market dynamics. Opportunities in the veterinary equipment and supplies market include the burgeoning growth of e-commerce platforms for purchasing veterinary supplies, providing avenues for market expansion and enhanced accessibility. The adoption of telemedicine in veterinary care presents opportunities for remote consultations and the integration of digital tools for diagnosis and monitoring. The rising demand for environmentally friendly and sustainable veterinary products offers manufacturers an opportunity to develop and market eco-conscious equipment. Tailoring veterinary equipment to specific needs, particularly in specialized fields, presents a niche market opportunity. Additionally, investment in research and development, collaboration with research institutions, and the expansion of distribution networks are avenues for further growth and innovation in the market.

Increasing pet ownership

The growth in pet ownership driving the veterinary equipment and supplies market is propelled by several interconnected factors. Global demographic shifts, such as delayed childbirth and an increase in single-person households, contribute to the rise in pet ownership, creating a heightened demand for veterinary services and equipment. The rising income levels, particularly in emerging markets, empower individuals to afford the costs associated with pet ownership, including veterinary care, becoming a pivotal driver for market growth. Cultural transformations, emphasizing the humanization of pets and a growing emphasis on companionship, further stimulate people to adopt and care for pets, significantly impacting the escalating pet population. Regulatory changes, as witnessed in countries like China with relaxed pet ownership regulations, foster substantial increases in pet ownership, consequently driving the demand for veterinary equipment. The effects of the COVID-19 pandemic have accelerated global pet adoption trends, with lockdowns and life changes prompting increased companionship-seeking through pets, fueling the surge in pet ownership and the associated need for veterinary services. The expansion of the middle class in emerging markets, coupled with falling birth rates and technological advancements, contributes to an environment conducive to pet ownership, fostering a growing demand for veterinary care and related equipment.

Market Dynamics

Drivers:

  • Increasing pet ownership
  • Growing awareness of preventive healthcare for pets
  • Expansion of the livestock industry
  • Demand for specialized equipment and supplies

Opportunities:

  • Growth of online platforms for purchasing veterinary supplies
  • Integration of AI in diagnostic equipment
  • Expansion of distribution networks
  • Adoption of telemedicine in veterinary services

Integration of AI in diagnostic equipment

The incorporation of artificial intelligence (AI) presents a promising opportunity for the veterinary equipment and supplies market, revolutionizing veterinary practice and efficiency. Digital platforms utilizing AI chat-bots offer a multifunctional approach, streamlining workflows and enhancing client communications. These platforms automate tasks such as appointment bookings, answering common queries, and facilitating communication with the veterinary team. AI-based dictation software allows real-time recording of examination findings, improving record-keeping efficiency. In clinical aspects, AI, including machine learning, is employed for image analysis in radiographs, ultrasounds, CT, and MRI images, aiding in detection and classification. The potential extends to disease detection, prediction, and classification through AI analysis of various data sources, including photographs, videos, pathology slides, and wearable technologies. However, the successful adoption of AI tools necessitates careful consideration of patient populations and a balanced approach, utilizing AI as a supplement rather than a replacement for veterinarians' diagnostic workups. The continuous development of AI in veterinary practices presents an opportunity for manufacturers to innovate and provide advanced AI-integrated equipment and supplies to meet evolving market needs.

North America dominates the market for Veterinary Equipment and Supplies.

North America stands out as a prominent market propelled by elevated rates of pet ownership and a sophisticated veterinary healthcare infrastructure. Europe is recognized for its strict animal health regulations and resilient veterinary healthcare systems. The Asia-Pacific region is experiencing rapid growth, fueled by a rising trend in pet adoption and the expansion of veterinary healthcare facilities. Latin America is emerging as a noteworthy market, marked by heightened awareness of animal health and escalating investments in veterinary services. The Rest-of-the-World category encompasses markets with untapped potential, progressively embracing modern veterinary practices and equipment. In Europe, there is a well-established veterinary equipment and supplies market characterized by a mature status and fortified regulatory frameworks that prioritize animal health. Renowned for its rigorous standards, Europe serves as a catalyst for innovation and ensures high-quality assurance within the sector. The market consistently witnesses a persistent demand for cutting-edge veterinary solutions, underscoring the region's commitment to upholding the highest standards in animal welfare and healthcare.

The anesthesia equipment segment is anticipated to hold the largest market share during the forecast period

In the global Veterinary Equipment and Supplies market, the Product Type segment comprises various categories such as Critical Care Consumables, Anaesthesia Equipment, Fluid Management Equipment, Temperature Management Equipment, Patient Monitoring Equipment, Research Equipment, Rescue & Resuscitation Equipment. The anesthesia equipment segment in the veterinary equipment and supplies market presents a significant opportunity for advancement and efficiency. The delivery of volatile anesthetics and carrier gases involves relatively sophisticated equipment designed for administering volatile anesthetics. The primary components include carrier gases, pressure regulators, flowmeters, vaporizers, and patient breathing circuits. With advancements in technology, anesthesia machines are functionally subdivided into high-pressure, low-pressure, breathing, and scavenging systems. The incorporation of precision vaporizers, classified as 'precision' and 'non-precision,' offers enhanced control over the output concentration of anesthetic agents. Precision vaporizers, widely used in veterinary medicine, are characterized by concentration calibration, variable bypass, thermocompensation, agent specificity, and high resistance. Monitoring features such as oxygen pressure warnings, nitrous oxide cutoff devices, and measurements for inspired and expired gases ensure safe and efficient anesthesia delivery in veterinary practices.

Segmentations Analysis of Veterinary Equipment and Supplies Market: -

  • By Product Type
    • Critical Care Consumables
    • Anaesthesia Equipment
    • Fluid Management Equipment
    • Temperature Management Equipment
    • Patient Monitoring Equipment
    • Research Equipment
    • Rescue & Resuscitation Equipment
  • By Technology Level
    • Basic Equipment
    • Advanced Equipment
    • Laser Technology
  • By Application
    • Surgical Application
    • Diagnosis
    • Monitoring and Therapy
  • By End User
    • Veterinary Clinics
    • Veterinary Hospitals
    • Veterinary Research Institutes
    • Veterinary Laboratories
  • By Region
    • North America
      • US
      • Canada
    • Latin America
      • Brazil
      • Mexico
      • Argentina
      • Colombia
      • Chile
      • Peru
      • Rest of Latin America
    • Europe
      • UK
      • Germany
      • France
      • Italy
      • Spain
      • Russia
      • BENELUX
      • CIS & Russia
      • Nordics
      • Austria
      • Poland
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • South Korea
      • Thailand
      • Indonesia
      • Malaysia
      • Vietnam
      • Australia & New Zealand
      • Rest of Asia Pacific
    • Middle East & Africa
      • Saudi Arabia
      • UAE
      • South Africa
      • Nigeria
      • Egypt
      • Israel
      • Turkey
      • Rest of Middle East & Africa

Recent Developments

  • In April 2023, in a formal ceremony held at Fendell's Central Veterinary Laboratory (CVL), the FAO in Liberia, along with USAID, officially delivered veterinary diagnostic supplies to the Liberian government. These resources form part of the FAO project funded by USAID, with a primary goal of tackling worldwide vulnerability to infectious diseases with public health implications. The project focuses on reinforcing systems to prevent, detect, and respond promptly and efficiently to potential infectious disease threats. The handover ceremony at CVL signifies a pivotal step in enhancing Liberia's veterinary diagnostics capabilities and aligns with collaborative efforts to boost global health security.

Veterinary Equipment and Supplies Market Report Gives Answers to Following Key Questions:

  • What will be the Veterinary Equipment and Supplies Market’s Trends & growth rate? What analysis has been done of the prices, sales, and volume of the top producers of Veterinary Equipment and Supplies Market?
  • What are the main forces behind the worldwide Veterinary Equipment and Supplies Market? Which companies dominate the Veterinary Equipment and Supplies Market?
  • Which companies dominate the Veterinary Equipment and Supplies Market? Which business possibilities, dangers, and tactics did they embrace in the market?
  • What are the global Veterinary Equipment and Supplies industry's suppliers' opportunities and dangers in Veterinary Equipment and Supplies Market?
  • What is the Veterinary Equipment and Supplies industry's regional sales, income, and pricing analysis? In the Veterinary Equipment and Supplies Market, who are the distributors, traders, and resellers?
  • What are the main geographic areas for various trades that are anticipated to have astounding expansion over the Veterinary Equipment and Supplies Market?
  • What are the main geographical areas for various industries that are anticipated to observe an astounding expansion in Veterinary Equipment and Supplies Market?
  • What are the dominant revenue-generating regions for Veterinary Equipment and Supplies Market, as well as regional growth trends?
  • By the end of the forecast period, what will the market size and growth rate be?
  • What are the main Veterinary Equipment and Supplies Market trends that are influencing the market's expansion?
  • Which key product categories dominate the Veterinary Equipment and Supplies Market? What are the Veterinary Equipment and Supplies Market’s main applications?
  • In the coming years, which Veterinary Equipment and Supplies Market technology will dominate the market?

Reason to purchase this Veterinary Equipment and Supplies Market Report:

  • Determine prospective investment areas based on a detailed trend analysis of the global Veterinary Equipment and Supplies Market over the next years.
  • Gain an in-depth understanding of the underlying factors driving demand for different Veterinary Equipment and Supplies Market segments in the top spending countries across the world and identify the opportunities each offers.
  • Strengthen your understanding of the market in terms of demand drivers, industry trends, and the latest technological developments, among others.
  • Identify the major channels that are driving the global Veterinary Equipment and Supplies Market, providing a clear picture of future opportunities that can be tapped, resulting in revenue expansion.
  • Channelize resources by focusing on the ongoing programs that are being undertaken by the different countries within the global Veterinary Equipment and Supplies Market.
  • Make correct business decisions based on a thorough analysis of the total competitive landscape of the sector with detailed profiles of the top Veterinary Equipment and Supplies Market providers worldwide, including information about their products, alliances, recent contract wins, and financial analysis wherever available.

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Table and Figures

Methodology:

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