Wilmington, Delaware, United States, Dec. 12, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global market for veterinary equipment and disposables is projected to soar significantly at a CAGR of 7.9% between 2023 and 2031. Transparency Market Research anticipates the total sales of veterinary equipment and disposables to reach US$ 4.4 billion by the conclusion of this assessed period.
Tailored equipment catering to specific veterinary procedures and species needs drives market growth. Customized tools enhance precision and efficacy in treatments, meeting diverse veterinary requirements effectively. Stricter regulations and compliance standards prompt manufacturers to develop equipment adhering to stringent guidelines. Ensuring safety, reliability, and quality assurance in veterinary equipment fosters market expansion and enhances trust among veterinary professionals.
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Increasing adoption of telemedicine in veterinary practices propels demand for equipment compatible with remote diagnosis and consultation. Integration of technology in equipment facilitates seamless telemedicine services, particularly in remote areas, advancing veterinary care accessibility.
Growing environmental consciousness drives the development of eco-friendly and sustainable equipment solutions. Manufacturers focusing on recyclable materials and reduced environmental impact contribute to market growth, aligning with eco-conscious veterinary practices.
Veterinary Equipment and Disposables Market: Competitive Landscape
The veterinary equipment and disposables market is fiercely competitive, led by key players such as Mindray Medical International, Henry Schein, and IDEXX Laboratories. These industry leaders excel in providing innovative diagnostic equipment, surgical instruments, and consumables for veterinary practices globally.
Emerging contenders like Midmark Corporation and Agfa-Gevaert NV contribute to the market's competitiveness, focusing on technological advancements and expanding product portfolios. Market rivalry intensifies through strategic collaborations, product launches, and mergers, emphasizing advanced veterinary care solutions.
The evolving landscape emphasizes the growing demand for advanced equipment, diagnostics, and disposables in veterinary medicine, driving a competitive drive for superior products and services. Some prominent manufacturers are as follows:
- 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.
- Nonin Medical Inc.
Key Findings of the Market Report
- Patient monitoring equipment emerges as the leading product type in the veterinary equipment and disposables market, driving advanced veterinary care.
- Due to high pet ownership rates and increased healthcare spending, small animals lead the veterinary equipment and disposables market.
- Due to increased demand for advanced healthcare solutions, veterinary hospitals and clinics lead the market of veterinary equipment and disposables.
Veterinary Equipment and Disposables Market Growth Drivers & Trends
- Continuous innovation in diagnostic equipment and surgical instruments drives market growth, enhancing veterinary care efficiency and accuracy.
- Increasing pet ownership rates globally fuel demand for veterinary services and equipment, stimulating market expansion.
- Growing awareness about animal welfare and healthcare drives the adoption of advanced equipment and disposables in veterinary practices.
- Emerging trends in specialized veterinary procedures and treatments propel the need for advanced equipment and disposables.
- A paradigm shift towards preventive healthcare for pets amplifies the demand for diagnostic tools and disposables in veterinary medicine.
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Global Veterinary Equipment and Disposables Market: Regional Profile
- North America commands a significant market share attributed to advanced veterinary healthcare infrastructure and technological innovation. Leading players like IDEXX Laboratories and Henry Schein dominate, offering cutting-edge diagnostic equipment, surgical instruments, and disposables. High pet ownership rates and increased healthcare spending drive market growth in this region.
- Europe strongly emphasizes animal welfare and veterinary care, fostering market growth for companies like Mindray Medical International and Agfa-Gevaert NV. The region's stringent regulatory frameworks and increasing demand for quality veterinary care drive the adoption of advanced equipment and disposables.
- Asia Pacific represents a rapidly growing market with expanding pet populations and increasing disposable income. Companies like Mindray and Agfa-Gevaert target this region, focusing on providing cost-effective yet advanced veterinary solutions. The region's growing awareness of pet health drives market growth, fostering demand for veterinary equipment and disposables.
Product Portfolio
- Patterson Companies Inc. offers a comprehensive dental and animal health product portfolio. Specializing in innovative solutions, they provide dental equipment, consumables, veterinary supplies, and software, supporting healthcare professionals in delivering exceptional patient care.
- B. Braun Melsungen AG specializes in healthcare solutions, providing a wide range of medical products, including infusion therapy, surgical instruments, and pharmaceuticals. Their portfolio focuses on patient-centered care, innovation, and improving medical standards worldwide.
- DRE Medical is dedicated to delivering high-quality medical equipment and supplies globally. Their diverse product line encompasses anesthesia machines, surgical tables, patient monitors, and refurbished medical devices, ensuring reliability and efficiency in healthcare settings.
Veterinary Equipment and Disposables Market: Key Segments
By Product Type
- Anesthesia Equipment
- Anesthesia Machines
- Vaporizers
- Ventilators
- Gas Delivery Management Systems
- Waste Gas Management Systems
- Critical Care Consumables
- Wound Management
- Fluid Administration and Therapy
- Airway Management
- Needles
- Others
- Fluid Management Equipment
- Temperature Management Equipment
- Patient Monitoring Equipment
- Rescue and Resuscitation Equipment
- Research Equipment
By Animal Type
-
- Small Animals
- Large Animals
By End User
-
- Veterinary Hospitals and Clinics
- Others
By Region
- North America
- Latin America
- Asia Pacific
- Europe
- Middle East & Africa
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