Dublin, Feb. 08, 2024 (GLOBE NEWSWIRE) -- The "Veterinary Equipment and Supplies Market by Type (Consumable, Anesthesia, Ventilator, Patient Monitoring, Oxygen Mask, Infusion Pump), Animal (Cat, Dog, Equine, Bovine), Applications (Surgical, Diagnosis, Monitoring & Therapeutic) & Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global veterinary equipment and supplies market is projected to reach USD 3.2 billion by 2028 from USD 2.2 billion in 2023, at a CAGR of 7.1% during the forecast period. The growing popularity of pet insurance, Increasing awareness of the importance of animal welfare, Increasing prevalence of chronic diseases in animals are some of the key growth drivers for the global veterinary equipment and supplies market.
The report is categorized by type, application, technology level, animal type, end user, and region. The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the veterinary equipment and supplies market.
A detailed analysis of the key industry players has been done to provide insights into their business overview, solutions, and services; key strategies; Contracts, partnerships, agreements. new product & service launches, mergers and acquisitions, and recent developments associated with the veterinary equipment and supplies market.
Surgical application segment accounted for the largest share of the global veterinary equipment and supplies market
Using veterinary surgery, veterinary surgeons perform operations on animals. Most general practice veterinarians do in routine surgery, such as mass excisions and neuters, however, some of them perform additional procedures. The need for early diagnosis of animal injuries and disorders, the rise in the number of veterinary practitioners in developed countries, the rising demand for advanced veterinary care, the growing number of pet owners worldwide, and rising costs associated with animal healthcare are all anticipated to fuel the growth of the veterinary equipment and supplies market for surgical application.
In veterinary hospitals, equipment is widely used for various applications, including anesthetic medication, respiratory support, temperature management, and fluid management in animals. Veterinary hospitals provide full-service offerings ranging from emergency vet care to medical, surgical, and dental services. These facilities also offer state-of-the-art services and an in-house pharmacy with access to specialists, making the veterinary facility a one-stop shop for an animal's health and medical needs. Hence, Veterinary hospitals are the fastest growing segment in the Veterinary equipment and supplies market.
The US accounted for the highest market share in North America veterinary equipment and supplies market
Veterinary equipment has high demand in the US due to the growing need for enhanced veterinary treatment, the increasing prevalence of chronic diseases in animals, and an increasing awareness of the significance of animal welfare. The veterinary healthcare infrastructure in the United States is highly developed, containing a large number of veterinary clinics, hospitals, and diagnostic imaging facilities. Veterinary equipment and supplies are needed in large quantities for this system to function. With more than 70 million homes having pets, the US has one of the highest pet ownership rates in the world. The need for veterinary equipment is driven by the increased demand for veterinary services.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 387 |
| Forecast Period | 2023-2028 |
| Estimated Market Value (USD) in 2023 | $2.2 Billion |
| Forecasted Market Value (USD) by 2028 | $3.2 Billion |
| Compound Annual Growth Rate | 7.1% |
| Regions Covered | Global |
Market Dynamics
- Drivers
- Growing 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
- Adoption of Big Data and Animal Wearable Devices
- AI Integration in Veterinary Care and Equipment
Other Industry Analysis
- Ecosystem Analysis
- Value Chain Analysis
- Supply Chain Analysis
Companies Profiled
- Advancis Veterinary Ltd.
- Avante Animal Health
- BD Animal Health
- Bionet America, Inc.
- Braun Vet Care GmbH
- Burtons Medical Equipment Ltd.
- Cardinal Health
- Covetrus, Inc.
- Digicare Animal Health
- Dispomed Veterinary Equipment
- Eickemeyer
- Grady Medical
- Hallowell Engineering & Manufacturing Corp.
- ICU Medical Inc.
- Integra Lifesciences
- Jorgensen Laboratories
- Masimo Corporation
- Midmark Corporation
- Mila International, Inc.
- Neogen Corporation
- New Gen Medical
- Nonin Medical
- RWD Life Science Co. Ltd.
- Shenzhen Mindray Animal Medical Technology Co. Ltd.
- Vetronic Services Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/rcwv6y
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