"Veterinary equipment and disposables market to exhibit lucrative growth during the forecast period"
The global veterinary equipment and disposables market is growing productively, was valued at US$ 1,497.7 Mn in 2020, and is expected to reach US$ 2,880.7 Mn by 2030. Increasing utilization of electric and manual tools for diagnosis & testing, surgical cases, injuries, reproduction, and for ultrasound procedures or blood and fertility tests will drive the overall market growth. High-tech evolution in the diagnostic industry would drive market growth. The producers are escalating the usage of equipment for top applications mainly in dogs, cats, and horses. Additionally, rising government and private funding, and increasing social responsibilities for animal safety will drive the growth significantly. Increasing social awareness associated with safe diagnosis and services among pet animals and cattle will assist in the overall market growth on a global scale.
"Disposables segment expected to register higher growth by the end of 2030"
Global sales of veterinary equipment and disposables is growing significantly, primarily in the North America and Europe region. The equipment market is fuelled with growing private funding from the U.S. markets. Numerous range of veterinary equipment and disposables, mainly in the critical care and anesthesia segment will grow significantly. Overall rescue and research equipment market show steady growth in the market, as the new products are gaining traction in the developing markets as well due to its excellent handling and predictable absorption profile. The revenue share from these regions can be ascribed to the rising adoption of pets, increasing commonness of injury along diagnostic and testing procedures.
"The veterinary clinics segment is expected to register higher growth by the end of 2030"
Technology expansion in the clinics segment is expected to grow steadily. Growth can be observed in near future due to increasing awareness about new equipment products, rise in adoption in veterinary centers, and availability of top products along with better management of pet care. Less outsourcing of new products in emerging nations, regulations, and high costs along with less availability for skilled veterinary doctors may hinder the market growth during the forecast period. Moreover, increasing admissions for arthritis (mainly dogs), and fractures due to vehicular trauma, sport injuries and fights will further spur revenue growth during the forecast period.
"Growing demand for advanced products, and the presence of established players holds the U.S. in dominant position"
In 2020, the U.S. generated maximum market share in the global veterinary equipment and disposables market. The chief attributing factors responsible for the positive momentum are rising prevalence of zoonotic diseases and existence of sophisticated technology pertaining to veterinary diagnostic and surgical science. The U.S. is the largest market owing to increasing demand for new products and existence of well-developed veterinary infrastructure. Moreover, growing number of partnerships with small scale manufacturers and demand for consumables will drive the market growth. However, in developing nations in the Asia Pacific, Europe, MEA and Latin America, availability of advanced equipment is inadequate. High cost, less awareness and less supply in rural regions are few factors limiting the growth of the veterinary equipment and disposables market.
"Dominance of multinational manufacturers with strong product portfolio in the developed regions"
Major players in the veterinary equipment and disposables market are Medtronic Plc Vetland Medical Sales and Services LLC, Mila International, Inc., 3M Company, Smiths Medical, Digicare Biomedical Technology, Inc., Midmark Corporation, DRE Veterinary, Hallowell Engineering and Manufacturing Corporation, B. Braun Melsungen AG, Infiniti Medical, LLC, Nonin Medical, Inc., and others. Enhanced veterinary diagnostic technologies with preventive care and availability of various treatment options in developing nations will support the growth in the hospitals segment. Company alliances with top hospitals and partnerships for product supply will further generate maximum revenue share.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Veterinary Equipment and Disposables market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
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| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
