Veterinary Dental Equipment Market Growth, SWOT Analysis and Global Forecast TilPosted by Shrikant Gadewar on February 5th, 2020 Veterinary Dental Equipment Market: Overview The trend of adopting the companion animal and increasing spending on their advanced healthcare facilities are driving growth of the global veterinary dental equipment market. The data suggested by the American Pet Products Association (APPA) explains that around 65% of the US population owns a pet and their expenditure in 2015 was around USD 60.3 billion. This data represents increasing awareness about the pet’s health, which is likely to offer several opportunities for growth in coming years as well. The global Veterinary Dental Equipment Market Growth stood at a revenue of USD 312 million and to witness robust growth at a CAGR of 9.5% during the forecast period. This growth of the market is predicted on the back of the increasing prevalence of periodontal diseases in animals. Veterinary Dental Equipment Market-Competitive Analysis:
Segmentation:
Regional Analysis: Regionally, the veterinary dental equipment market is segmented intotheAmericas, Asia Pacific, Europe, and Middle East & Africa. Of these, the Americas dominated the overall market in 2017 and the region is estimated to remain dominant in the global veterinary dental equipment market in the coming period owing to the increasing expenditure on the pet’s wellbeing. Additionally, the strong presence of major players coupled with availability of pet’s health insurance are driving growth of the global veterinary dental equipment market in the region. Additionally, the market in Europe is estimated to stand on the second leading position in the global market for veterinary dental equipment owing to increasing prevalence of periodontal diseases in the region. For instance, a study published in PLOS ONE, suggested that around 60.0% of companion dogs had periodontitis, 33.8% had missing teeth, and 61.3% had calculus in the Czech Republic. Such data represent the huge need for advanced dental healthcare facilities for pets and which is likely to result to surge in growth of the global veterinary dental equipment market in coming years. However, the Asia Pacific is estimated to be the fastest growing region in the year 2017 and likely to remain same during the forecast period owing to increasing awareness about animal healthcare. Industry News: In 2019, Midmark Corp. recently announced that the company has acquired Mason Company. Through this acquisition, the Midmark is looking to expand its product portfolio and its ability to work closely with our channel partners along with reach to their customers. Additionally, with architectural and design expertise of Mason, the company will improve its product for wellbeing of pets. Like it? Share it!More by this author |