Global Veterinary Equipment and Supplies Market Report 2022: Growth in the Companion Animal Population Fueling Sector Expansion

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Oct 10, 2022, 11:45 ET

DUBLIN, Oct. 10, 2022 /PRNewswire/ -- The "Global Veterinary Equipment and Supplies Market by Type (Consumables, Patient Monitors, Anesthesia, Infusion Pumps), Application (Surgical (Gynecology, Dental), Diagnosis), Animal (Companion, Bovines), End User (Hospitals, Clinics) - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

Veterinary equipment and supplies include all kinds of medical equipment, which are intended to help diagnose, monitor, or treat various health conditions associated with animals, such as anaesthetic medication, respiratory support, temperature management, and fluid management. It also includes disposable devices or the medical apparatus, which has been designed for temporary or one-time use, mainly for infection control.

The global veterinary equipment and supplies market is projected to reach USD 2.9 Billion by 2027 from USD 2.0 Billion in 2022, at a CAGR of 8.1% during the forecast period. Emerging markets, such as rIndia and China, and growing companion animal ownership in the APAC region are expected to offer significant growth opportunities for players in the veterinary equipment and supplies market. In this report, the veterinary equipment and supplies market is segmented based on type, application, animal type, end user, and region.

The growth of the global veterinary equipment and supplies market during the forecast period is mainly driven by the increasing animal healthcare spending and growing pet insurance purchase, growing companion animals market, the increasing number of veterinary practitioners and their income levels in developed regions, and the increasing launch of advanced products.

Based on the type, the critical care consumables segment is the highest growing segment during the forecast period.

Based on the type, the veterinary equipment and supplies market is categorized into critical care consumables, anesthesia equipment, fluid management equipment, temperature management equipment, rescue & resuscitation equipment, research equipment, and patient monitoring equipment. In 2021, the critical care consumables segment is the highest growing segment during the forecast period which can be attributed to the increasing use of consumables in the monitoring & treating of animals owing to the growing incidence of diseases

Based on animal type, the equines segment holds the largest share of large animals market during the forecast period

The large animals segment includes equines and bovines & other animals (including sheep, goats, and pigs). The veterinary equipment and supplies market for equines accounted for the largest share of large animal market in 2021. The growing equine population and the rising number of equine clinics in the US are the key factors driving the growth of the veterinary equipment and supplies market for this segment.

Based on end user, the veterinary clinics segment is the highest growing segment during the forecast period

Based on end users, the veterinary equipment and supplies market is categorized into veterinary clinics, veterinary hospitals, and veterinary research institutes. The veterinary clinics segment is the highest growing segment during the forecast period. The highest growth of this segment can be attributed to the growing number of patient visits and the increasing number of private clinical practices.

APAC is expected to grow at the highest growth rate in 2021

The Asia Pacific region is expected to register the highest CAGR during the forecast period. The market growth in this region is primarily attributed to the growing livestock population, increasing pet adoption, rising awareness about animal health, progressive urbanization, and growing per capita animal health expenditure. The increasing number of veterinary professionals and veterinary clinics is another major factor leading to the growing adoption of veterinary equipment and supplies.

Market Dynamics

Drivers

Growth in the Companion Animal Population
Growing Demand for Pet Insurance and Rising Animal Health Expenditure
Growing Number of Veterinary Practitioners

Restraints

Rising Pet Care Costs
High Cost of Veterinary Equipment

Opportunities

Untapped Emerging Markets

Challenges

Lack of Animal Healthcare Awareness in Emerging Countries
Shortage of Veterinary Practitioners in Developing Countries

Industry Trends

Growing Scale of Veterinary Businesses
Telemedicine and Remote Monitoring Equipment

Technology Analysis

Rising Adoption of Big Data and Animal Wearable Devices

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Veterinary Equipment and Supplies Market, by Type

7 Veterinary Equipment and Supplies Market, by Application

8 Veterinary Equipment and Supplies Market, by Animal Type

9 Veterinary Equipment and Supplies Market, by End-user

10 Veterinary Equipment and Supplies Market, by Region

11 Competitive Landscape

12 Company Profiles

13 Appendix

Companies Mentioned