Veterinary Equipment and Supplies Market Size & Share 2023 to 2032
Market Size by Product (Anesthesia, Infusion Pump, Consumable, Ventilator, Warmer), Application (Surgical, Diagnosis, Monitoring), Animal (Small Companion, Large), End User (Clinic, Hospital), Global Forecast.
Report ID: GMI5939
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Published Date: June 2023
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Report Format: PDF
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Authors:
Monali Tayade, Jignesh Rawal
Veterinary Equipment and Supplies Market Size
Veterinary Equipment and Supplies Market size was anticipated to be worth USD 2.1 billion in 2022 and is expected to reach USD 4.5 billion by 2032, increasing at an 8.2% CAGR. Veterinary equipment and supplies are used in operations as well as the monitoring and treatment of animal ailments. The major growth drivers for the global market include increased companion animal population, rising demand for pet insurance, rising animal health spending, and a growing number of diseases in animals.
Veterinary Equipment and Supplies Market Key Takeaways
Market Size & Growth
Key Market Drivers
Challenges
Moreover, rising demand for pet insurance to assist lower out-of-pocket expenses for important medical issues including accidental accidents is expected to drive market expansion. In countries like as India, Malaysia, and Vietnam, livestock insurance is offered to assist cover the costs of various veterinary services. A rising number of insured animals is predicted to fuel demand for veterinary operations.
COVID-19 Impact
The COVID-19 pandemic had a significant impact on the veterinary equipment and supplies market. The pandemic has led to a number of challenges for the market, the global lockdowns and restrictions on movement disrupted the global supply chain for veterinary equipment and supplies. Manufacturing and distribution delays, shortage of raw materials, and logistic challenges affected the availability of certain products, leading to potential supply shortages and increased prices.
Furthermore, non-essential veterinary services, including routine check-ups and elective procedures, were often postponed or cancelled during the peak of the pandemic. This had an impact on the demand for certain equipment and supplies associated with these services, such as dental equipment, surgical instruments, and anesthesia supplies.
Veterinary Equipment and Supplies Market Trends
The market is experiencing several notable trends that are shaping its development. Some key trends in the industry includes increasing focus on preventive care, rise in pet ownership, increasing adoption of telemedicine and veterinary monitoring equipment, and technological advancements. These trends indicate the evolving nature of the market. Manufacturers and suppliers in this industry are continuously innovating to meet the evolving needs of veterinary practices and provide solutions that enhance animal health and well-being.
Veterinary Equipment and Supplies Market Analysis
Based on product, the veterinary equipment and supplies market is segmented as critical care consumables, patient monitoring equipment, anesthesia equipment, fluid management equipment, temperature management equipment, research equipment, and rescue & resuscitation equipment. The large share and high growth of this segment can be attributed to increasing demand for advanced and specialized veterinary care, advancements in veterinary medicine, growing awareness and expectations, increase in pet ownership and human-animal bond, and specialty and emergency veterinary centers. market.
Based on product, the veterinary equipment and supplies market from critical care consumables segment is further sub-segmented as wound management consumables, fluid administration and therapy consumables, airway management consumables, gastroenterology consumables, needles, gynaecology consumables, urology consumables, and accessories. The wound management consumables segment is expected to grow at significant pace during the forecast period. One of the key drivers for wound management consumables in the market is the increasing focus on wound care and the need for effective wound management in veterinary medicine.
There has been significant progress in understanding of wound healing processes in animals. Veterinarians now recognize the importance of providing proper wound care to promote optimal healing and prevent complications. This improved understanding has highlighted the need for effective wound management techniques and products in veterinary medicine.
Based on application, the veterinary equipment and supplies market is segmented as surgical application, diagnosis, monitoring, and therapy. The surgical application segment held dominant market share of around 73.8% in 2022.There have been significant advancements in veterinary surgical techniques and procedures. These advancements include minimally invasive surgeries, laparoscopic procedures, orthopedic surgeries, soft tissue surgeries, and specialized procedures like ophthalmic and dental surgeries. The adoption of these advanced surgical techniques requires specialized surgical equipment and supplies.
Based on animal type, the veterinary equipment and supplies market is segmented as small companion animals, large animals, and other animals. The small companion animals segment is expected to grow at a significant pace of 8% by 2032. The small companion animal segment attributed the market in 2022. Increase in the small companion animal population, and growing focus on pet care are all contributing to the expansion of this market. In 2022, the dog’s category had the biggest market share in the small companion animal’s segment. The rising number of surgeries has resulted in this capturing the largest share. One of the main market drivers is the increasing prevalence of chronic disorders in dogs.
Based on end user, the veterinary equipment and supplies market is segmented as veterinary clinics, veterinary hospitals, and academic and research institutes. Pet owners are becoming increasingly conscious of the health and well-being of their pets. They are more willing to seek regular veterinary care and invest in quality healthcare services for their animals. This increased emphasis on pet health drives the demand for veterinary clinics and the associated equipment and supplies needed to provide comprehensive veterinary care.
Moreover, there is a growing awareness of the importance of preventive care in maintaining pet health. Pet owners are increasingly seeking regular check-ups, vaccinations, parasite control, dental care, and nutrition advice for their animals. Veterinary clinics play a crucial role in providing preventive care services, necessitating the availability of appropriate equipment and supplies.
North America veterinary equipment and supplies market is anticipated to grow at 7.9% by 2032. North America has a large and growing population of pet owners. The region has a strong culture of pet ownership, with a significant number of households having one or more pets. This high pet ownership rate drives the demand for veterinary services, including diagnostics, treatments, surgeries, and preventive care, leading to the need for appropriate equipment and supplies.
Moreover, there is a growing emphasis on advanced veterinary care in North America. Pet owners in the region are increasingly seeking specialized and advanced medical treatments for their animals. This includes specialized surgeries, advanced diagnostics, oncology treatments, and rehabilitation services. The demand for sophisticated equipment and supplies to support these advanced veterinary services is consequently high, leading to market gains.
Veterinary Equipment and Supplies Market Share
Some of the major market players operating in the veterinary equipment and supplies market are:
Veterinary Equipment and Supplies Industry News:
The veterinary equipment and supplies market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2032, for the following segments:
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By Product, 2018 - 2032 (USD Million)
By Application, 2018 - 2032 (USD Million)
By Animal type, 2018 - 2032 (USD Million)
By End-user, 2018 - 2032 (USD Million)
The above information is provided for the following regions and countries:
Research methodology, data sources & validation process
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