Veterinary Equipment & Disposables Market Rises at 5.9% CAGR By 2026
Posted by Sneha Talanakr on July 8th, 2019
Veterinary Equipment & Disposables Market – Snapshot
Various veterinary equipment and disposables are required on a frequent basis for diagnosis and treatment of animal diseases. Availability of anesthesia equipment, monitoring equipment, and critical care consumables for treatment of various diseases among companion animals is highly valued by pet owners. Pet owners across the globe spend billions of dollars every year for diagnosis of diseases affecting their beloved pets. Increase in expenditure on animal health is expected to boost market growth in the next few years. The global veterinary equipment & disposables market was valued at US$ 1,504.7 Mn in 2017 and is projected to expand at a CAGR of 5.9% from 2018 to 2026.
The global veterinary equipment & disposables market has been segmented based on product type, animal type, end-user, and region. In terms of product type, the global market has been classified into anesthesia equipment, fluid management equipment, critical care consumables, temperature management equipment, patient monitoring equipment, rescue & resuscitation equipment, and research equipment. The critical care consumables segment is anticipated to account for leading share of the global market during the forecast period, owing to high consumption of these consumables during veterinary anesthesia process. Based on animal type, the global veterinary equipment & disposables market has been categorized into small animals and large animals.
The small animals segment held prominent share of the global market in 2017 due to increase in adoption of companion animals and greater emphasis on wellness and pet care by owners. In terms of end-user, the global market has been bifurcated into veterinary hospitals & clinics and others. The veterinary hospitals & clinics segment is expected to account for significant share of the global market during the forecast period, due to rise in number of private clinical practices.
In terms of region, the global veterinary equipment & disposables market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America and Europe accounted for major shares of the global market in 2017. High pet ownership along with increase in spending on animal health research drive the veterinary equipment & disposables market in these regions. The market in Asia Pacific is likely to expand at a significant CAGR during the forecast period. Rise in the population of livestock animals and the consequent increase in pet adoption are projected to propel the market in the region in the next few years.
Key players operating in the global veterinary equipment & disposables market include Smiths Group plc, Henry Schein, Vetland Medical Sales & Services LLC, Patterson Companies, Inc., B. Braun Melsungen AG, DRE Medical, Jorgensen Labs, Midmark Corporation, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., and Nonin Medical, Inc. These companies have a broad product portfolio of veterinary equipment along with a strong distribution system across the globe.
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About the AuthorSneha Talanakr
Joined: April 22nd, 2019
Articles Posted: 279
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