According to the most recent analysis by Emergen Research, veterinary equipment and supplies market size is expected to reach USD 3.76 Billion at a steady revenue CAGR of 8.1% in 2030, according to the latest analysis by Emergen Research. One of the primary driving factors leading to increased revenue growth of this market is an increase in companion animal population. Pet ownership, for example, has reached new highs in recent years, according to statistics. According to a 2021-2022 American Pet Products Association (APPA) study, 70% of households possess a pet.
On a global level, an increase in the total number of companion animals and their adoption rate has been noted. Keeping a companion animal is linked to superior health outcomes, including fewer cardiac arrhythmias, normalised blood pressure, less anxiety, more psychological stability, and better overall wellbeing, according to many studies. Animal ownership is increasing in emerging nations including Brazil, China, India, and Mexico. The demand for pet care goods and services is anticipated to rise in response to the growing pet population, which will in turn fuel the expansion of related sectors including those producing veterinarian supplies and equipment.
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The market for veterinary supplies and disposables is expected to increase more quickly than average due to the rising trend of pet adoption. According to the American Pet Products Association, pet ownership has climbed from 56.0% of all homes to 67.0% over the past 30 years, totaling close to 85.0 million households with pets. Therefore, it is anticipated that the aforementioned reasons will spur market expansion. While some of the main factors influencing the growth of the livestock animal segment include the rising need for better treatments and diagnostics, rising animal husbandry activities, and rising public awareness of the care of livestock animals. The employment of equipment for rescue and resuscitation as well as expanding initiatives such stray animal rescue programmes are generating revenue.
According to animal type, the category for small companion animals is responsible for the biggest market share over the course of the investigation. The adoption rate for tiny companion animals is higher than that for large companion animals, according to the DOSOMETHING.org research. For the record, every year over 7.6 million small companion animals are brought into animal shelters across the country. There are about 3.4 million cats and 3.9 million dogs among them. The aforementioned variables drive segmentation expansion, which eventually fuels the veterinary equipment & supplies market’s overall market growth over the course of the projection year.
Major companies in the market report include Braun SE, Covetrus, BD, Cardinal Health, Neogen Corporation, Integra LifeSciences, Midmark Corporation, Jorgensen Labs, Shenzhen Mindray Animal Medical Technology Co., LTD., and Nonin.
Due to the rising usage of consumables for numerous applications, including airway management, wound therapy, reproduction, gastroenterology, and others, the critical care consumables segment is anticipated to account for the biggest revenue share over the forecast period. Leading market companies’ efforts at ongoing product development and the introduction of new products are other factors boosting market revenue growth. On June 29, 2021, Bactiguard, for instance, expands its business and offers infection protection for canines through a partnership with the Nordic pet shop Musti Group. The agreement is focused on a new line of treatments for treating pet wounds (Aniocyn). Through retail locations run by Musti, aniocyn will be sold.
Throughout the projected period, the diagnostic, monitoring, and therapy segment is anticipated to post a consistent revenue CAGR. Animal health benefits from veterinary diagnostics because they allow for quicker diagnosis and treatment planning and allow for the early detection of health problems before they become critical. By spotting patterns in wellness data that human specialists might miss, digital diagnostics unlock the technology’s preventative potential and open up new avenues for early disease detection. The ability to identify risk trends in ever-growing data quantities is improved by the use of artificial intelligence and other cutting-edge techniques, which boosts market revenue.
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Emergen Research has segmented the global veterinary equipment and supplies market on the basis of type, application, animal type, end-use, and region:
- Type Outlook (Revenue, USD Billion; 2019–2030)
- Critical Care Consumables
- Anesthesia Equipment
- Fluid Management Equipment
- Temperature Management Equipment
- Patient Monitoring Equipment
- Research Equipment
- Rescue and Resuscitation Equipment
- Application Outlook (Revenue, USD Billion; 2019–2030)
- Surgical Application
- Diagnosis, Monitoring, and Therapy
- Animal Type Outlook (Revenue, USD Billion; 2019–2030)
- Small Animals
- Large Animals
- End-Use Outlook (Revenue, USD Billion; 2019–2030)
- Veterinary Clinics
- Veterinary Hospitals
- Veterinary Research Institutes
- Regional Outlook (Revenue, USD Billion; 2019-2030)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- North America
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