Veterinary Disposables Global Market Report 2023

NEW YORK, Feb. 8, 2023 /PRNewswire/ -- Major players in the veterinary disposables market are Mindray Medical International Limited, Smiths Group PLC, B. Braun Melsungen AG, Henry Schein, DRE Veterinary, Midmark Corporation, Jorgensen Laboratories, BD, Cardinalhealth, and Medtronic.

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The global veterinary disposables market is expected to grow from $0.29 billion in 2021 to $0.34 billion in 2022 at a compound annual growth rate (CAGR) of 14.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The veterinary disposables market is expected to grow to $0.56 billion in 2026 at a CAGR of 13.1%.

The veterinary disposables market consists of sales of bandages, lab instruments, examination and surgical gloves, catheters, and urinary bags. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.

The value of goods in this market includes related services sold by the creators of the goods.

Veterinary disposables refer to a type of product that is meant for single use and is used during the treatment and surgeries of diseases such as cardiology and neurology diseases in animals. It was developed to reduce patient discomfort and distress and reduce the chances of errors during surgical operations.

North America was the largest region in the veterinary disposables market in 2022. Asia Pacific was the second-largest region in the veterinary disposables market.

The regions covered in the veterinary disposables market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The main types of veterinary disposables are critical care consumables, wound management consumables, fluid administration and therapy consumables, airway management consumables, gastroenterology consumables, needles, and other types. Gastroenterology consumables are used in the treatment of diseases of the esophagus, stomach, small intestine, colon, rectum, pancreas, gallbladder, bile ducts, and liver.

The products are used on small animals, large animals, and other animal types and are available in veterinary clinics, veterinary hospitals, research institutes, and other end users.

Increased pet ownership by Gen X and Gen Y adults contributed to the growth of the veterinary disposables market during the historic period. According to the APPA, millennials, or Gen Y, represent the largest segment of pet owners for all types of pets.

More than 80% of Gen Y and Gen Z own a dog, and 50% or less own a cat as a pet. Multiple pet ownership is also on the rise in some parts of the world.

According to the 2019-2020 APPA National Pet Owners Survey, 67% of US households own pets, which is equal to 84.9 million homes. Pet owners are well aware of advanced facilities and are willing to spend a large amount of money on the health of their pets. Therefore, the rise in pet ownership aids in the growth of the veterinary disposable market.

The shortage of veterinarians in underdeveloped and developing countries limited the growth of the veterinary disposables market during the historic period.Veterinary healthcare access is relatively poor in most developing countries compared to developed nations, while the animal disease burden is high in low- and middle-income countries.

For instance, in February 2022, according to a report shared by The New Zealand Veterinary Association, a membership association representing New Zealand veterinarians, there is a shortfall of roughly 100 veterinarians nationwide. As a result of their active calving and lambing seasons, seasonal demands increase.

Australia, a country that is also very popular, also lacks veterinarians. In the previous year, Australia granted exceptions to some 800 foreign veterinarians to help close these gaps and support the local team.

Insufficient availability of veterinary care in rural areas would impede the number of animal procedures where disposables are used, hence the scarcity of veterinarians hinders the veterinary disposables market.

Companies in the veterinary disposables industry are increasingly investing in mergers and acquisitions with other players to drive product innovations. To succeed in the increasingly competitive veterinary disposables market, companies are entering into new geographies and developing innovative products through sharing skills and expertise with other players through acquisitions and mergers.

In April 2020, Heska Corporation, a US-based company that manufactures and markets products related to companion animal care, acquired Scil Animal Care for $125 million. Through this acquisition, Heska Corporation expects to expand in the European region.

Social Animal Care is a European company that specialises in the distribution of animal health laboratories and imaging diagnostic products and services.

The countries covered in the veterinary disposables market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).

The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.

The veterinary disposables research report is one of a series of new reports that provides veterinary disposables statistics, including veterinary disposables industry global market size, regional shares, competitors with veterinary disposables share, detailed veterinary disposables segments, market trends and opportunities, and any further data you may need to thrive in the veterinary disposables industry. This veterinary disposables research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

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