Global Veterinary Equipment And Disposables Market is expected to grow at a CAGR of 8.03% during the forecast period 2019-2027
A new research report published by Fior Markets with the title Veterinary Equipment And Disposables Market by Product Type (Anesthesia Machines, Critical Care Consumables, Ventilators, Patient Monitoring Equipment, Oxygen Masks, Infusion Pumps, Research equipment and others), Animal Type (Small animals and Large animals), End Users, Region, Global Forecast 2020-2027.
The global veterinary equipment and disposables market is expected to grow from USD 1.76 billion in 2019 to USD 3.25 billion by 2027, at a CAGR of 8.03% during the forecast period 2019-2027. North America holds the largest market share. It is also expected to grow at the highest CAGR due to number of reasons like the growing pet awareness, qualitative measure on livestock and increasing pet insurance. Also, the availability of advance technology has resulted in better outcomes.
NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.
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Key players in the veterinary equipment and disposables market are Infiniti Medical, Smiths Group plc, Nonin Medical Inc., Digicare Biomedical Technology Inc., B. Braun Melsungen AG, DRE Medical, Jorgensen Labs, Midmark Corporation, Henry Schein Vetland Medical Sales and Services, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Hallowell Engineering & Manufacturing Corporation and others. Some of the companies are adapting to artificial intelligence for a profound analysis of data and thus providing customized outcomes for animals.
The product type segment includes anaesthesia machines, critical care consumables, ventilators, patient monitoring equipment, oxygen masks, infusion pumps, research equipment and others. Out of all, essential consumables of care have the largest market share among all the other types. They are prescribed by the vets and are extensively being used in veterinary care process. They are used repeatedly as compared to the different models which have a one-time cost. The animal type segment includes large animals and small animals. Small animals constitute for significant market share. The growing fondness for little companions and increased awareness for pet health are the contributing factors for the same. The end-user segment includes veterinary clinics and hospitals. Veterinary clinics account for a large share of the market demand. The reason is the rise in the number of private clinics and increased private practices.
Veterinary equipment and disposables are vital tools for the treatment of animal diseases. The growing market demand is attributed to the increasing income of households which they spend on the companion pet. The awareness about animal health has also been a factor in increasing the market demand. The demand for meat consumption has even gone up, which has mandate the quality check of the animals. So, these equipments are necessary for animal husbandry. The availability of critical care consumables, anaesthesia equipment and monitoring equipment for treatment of various diseases found in animals is gaining popularity among the pet owners. Pet owners are willing to spend on a routine checkup of their beloved pets. The poultry farm owners are also adapting to the technology as they are aware of the quality of the animals. Government has also taken up the initiative to monitor the quality of meat which the country consumes and even exports, as to safeguard from any spreading up of animal diseases.
About the report:
The global Veterinary Equipment And Disposables market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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