NEW YORK, Dec. 1, 2015 /PRNewswire/ -- Veterinary equipment is used in providing anesthetic medication, respiratory support, temperature management, and fluid management to animals. Rising animal health expenditure and the growing demand for pet insurance, increasing number of veterinary practitioners and their rising income levels in developed regions, increasing animal research along with growing research grants, and growth in the companion animals market are the primary growth drivers for the global veterinary equipment and disposables market during the forecast period. However, a severe shortage of skilled veterinarians and the increasing costs of pet care are expected to restrain the growth of this market to a certain extent. Low animal health awareness in emerging markets poses a major challenge to the adoption of veterinary equipment and disposables among hospitals and clinics.
The report analyzes the veterinary equipment and disposables market by product, animal, and geography. On the basis of products, the global veterinary equipment and disposables market is further segmented into anesthesia equipment, temperature management equipment, critical care consumables, rescue & resuscitation equipment, fluid management equipment, and research equipment. On the basis of types of animals, the global veterinary equipment and disposables market is segmented into small companion animals, large animals, zoo animals, aquatic animals, research animals, and exotic animals.
In North America, the veterinary equipment and disposables industry is expected to witness significant growth in the coming years largely because an increasing number of pet owners are expected to purchase pet health insurance, which in turn will make high-cost surgical procedures affordable for them. On the other hand, Asia-Pacific is expected to show the fastest growth geographically in the coming years, mainly due to the increasing demand for this market's products from developing Asian nations due to growing livestock population, increasing pet adoption, rising awareness about animal health, progressive urbanization, changing dietary habits, and growing per capita animal health expenditure. In Asia, market growth will be concentrated in India and China.
Some major players in this market are Smiths Group Plc (U.K.), Medtronic Plc (Ireland), 3M Company (U.S.), Jorgen Kruuse A/S (Denmark), Digicare Biomedical Technology, Inc. (U.S.), Vetland Medical Sales and Services LLC (U.S.), Hallowell Engineering & Manufacturing Corporation (U.S.), DRE Veterinary (U.S.), Midmark Corporation (U.S.), Jorgensen Laboratories (U.S.), and Mila International Inc. (U.S.).
Reasons to Buy the Report:
The report will enrich both established firms as well as new entrants/smaller firms and allow them to gauge the pulse of the market, which in turn will help firms garner greater market shares. Firms purchasing the report could use one or a combination of the below-mentioned strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for increasing their market shares.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the veterinary equipment and disposables market. The report analyzes the veterinary equipment and disposables market by product.
- Product Development/Innovation: Detailed insights on upcoming trends, R&D activities, and new product launches in the veterinary equipment and disposables market.
- Market Development: Comprehensive information about lucrative emerging markets by product, functionality, and geography.
- Market Diversification: Exhaustive information about new products, growing geographies, recent developments, and investments in the veterinary equipment and disposables market.
- Competitive Assessment: In-depth assessment of market shares, growth strategies, products, distribution networks, and manufacturing capabilities in the veterinary equipment and disposables market.
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