MARKET OVERVIEW:
The global veterinary equipment and disposables market, valued at USD 3.3 billion in 2024, is poised for substantial growth, expected to reach USD 8.7 billion by 2033. This expansion is fueled by the rising demand for effective diagnosis and treatment across companion and livestock animals. The surge in pet ownership, animal husbandry activities, and advancements in portable diagnostic technology are all significant contributors. Additionally, increasing concerns over food safety and pet well-being are further driving the market’s growth.
STUDY ASSUMPTION YEARS:
- BASE YEAR: 2024
- HISTORICAL YEAR: 2019-2024
- FORECAST YEAR: 2025-2033
VETERINARY EQUIPMENT AND DISPOSABLES MARKET KEY TAKEAWAYS:
- The market size in 2024 is USD 3.3 billion, projected to grow at a CAGR of 10.58%, reaching USD 8.7 billion by 2033.
- Rising pet ownership and the trend of pet humanization are significant growth drivers.
- Increased adoption of pet insurance is boosting market demand.
- Innovations like portable, real-time diagnostic equipment are enhancing treatment efficacy.
- Growing animal husbandry practices and the demand for food safety are propelling market growth.
- Veterinary hospitals and research institutes remain the dominant end users.
MARKET GROWTH FACTORS:
Technological Advancements:
Admittedly, technological inventions and innovations, especially in the diagnostic and treatment equipment, have witnessed a tremendous growth surge in this market. The advent of portable devices that can utilize real-time imaging for kindly faster diagnostics and treatments is augmented by telemedicine. Such technology makes veterinary care not only faster but more accurate as well, thus gaining acceptance for such tools globally in veterinary practices.
Rising Pet Ownership & Humanization:
The rising number of pet owners, along with the immensely popular concept of treating pets as family members, has increased the demand for advanced veterinary equipment and disposables. The trend of humanization of pets, especially for small families with relatively high discretionary income, translates into greater footfall in veterinary clinics. More footfalls mean higher demand for medical and diagnostic equipment such as surgical instruments and anesthesia equipment.
Regulatory Support and Market Expansion:
Governments and regulatory bodies have extended their support towards promoting veterinary practices and thus encourage the growth of animal care centers. Such incentives help ensure that veterinary practices are given their due requirement and funding, which would in turn give impetus to the growth of new establishments worldwide. This growth, coupled with the development of stringent laws for food safety, will, therefore, call for greater demand for better veterinary equipment, ensuring health for both animals and the food chain.
MARKET SEGMENTATION:
- Breakup by Product:
- Critical Care Consumables: Used in emergency care situations, these consumables include items like bandages and wound care materials.
- Anesthesia Equipment: Includes machines and consumables for administering anesthesia during procedures.
- Fluid Management Equipment: Devices used for the regulation and management of fluids in animal bodies.
- Temperature Management Equipment: Devices to monitor and regulate body temperature during procedures.
- Rescue and Resuscitation Equipment: Includes devices to aid in reviving animals in emergency situations.
- Research Equipment: Tools used for scientific studies and experiments related to animal health.
- Patient Monitoring Equipment: Devices to track the vital signs of animals during treatment.
- Others: Miscellaneous equipment used in various veterinary procedures.
- Breakup by Animal Type:
- Companion Animal:
- Dogs: Common pets requiring veterinary care for various ailments.
- Cats: Pet cats receiving diagnostic and treatment services.
- Horses: Veterinary care specifically for horses, including treatment for injuries and diseases.
- Others: Other companion animals needing care.
- Livestock Animal: Includes livestock such as cattle, poultry, and swine.
- Companion Animal:
- Breakup by End Use:
- Veterinary Hospitals/Clinics: Primary care facilities for animals.
- Research Institutes: Institutions dedicated to veterinary medical research.
- Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
RECENT DEVELOPMENTS & NEWS:
Innovative solutions such as compact, portable veterinary diagnostic machines with imaging capabilities are attracting market interest. They allow real-time imaging that is critical for improving diagnostic accuracy and treatment efficiency. The popularity of telemedicine has also helped practitioners to give timely and accurate treatments, driving the market growth in this area even further.
KEY PLAYERS:
Braun Melsungen AG, Digicare Biomedical Technology Inc., Henry Schein Inc., Medtronic Plc, Midmark Corporation, Nonin Medical Inc., Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Smiths Group plc, Vetland Medical Sales and Services and Vetronic Services Ltd.
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.