Veterinary Equipment and Disposables Market In-Depth Analysis Globally by Top Key Players
Numerous factors such as increasing incidence rate of zoonotic diseases, increased spending on animal health and growing pet insurance is anticipated to fuel the growth of the market. For instance, according to the data published by the World Health Organization (WHO) in 2016, the expenses related to the prevention and control of rabies is estimated at USD 590 million annually in Asia and Africa, whereas the expenses for the prevention and control of rabies in 2015 was USD 545 million in Asia and Africa. However, the lack of awareness regarding animal health, high cost of veterinary equipment, and unaffordability of veterinary services in certain economies is restraining the growth of veterinary equipment and disposables market. For instance, Vet Times UK in 2016 stated that more than 60% of the population in Europe were not aware that vet medicines have a positive impact on the welfare of animals are are some of the factors restraining the growth of this market.
It is estimated that the global veterinary
equipment and disposables market is expected to register a CAGR ~ 14.70%
with an estimated market value of 1.63 billion during the forecast period of
2018–2023.The global veterinary equipment and disposables market is currently
dominated by many market players. The key players in the market are involved in
new product launches and strategic collaborations to strengthen its market
position. For instance, in August 2017, Henry Schein Inc. announced the
acquisition of Merritt Veterinary Supplies Inc., an independent supplier of
animal health products.
Key Players
Some of the key players in the global veterinary equipment
and disposables market are B. Braun Melsungen AG, DRE Medical, Digicare
Biomedical Technology Inc., Henry Schein, Jorgensen Labs, Medtronic, Midmark
Corporation, Patterson Companies, Inc., Smiths Group plc, and Vetland Medical
Sales & Services
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Segmentation
The global veterinary equipment and disposables market has
been segmented into type, animal type, and end user. The market, based on type,
has been segmented into critical care consumables, anesthesia equipment, fluid
management equipment, temperature management equipment, research equipment, and
rescue and resuscitation equipment. The market, by critical care consumables,
has been further segmented into wound management consumables, fluid
administration and therapy consumables, airway management consumables,
gastroenterology consumables, needles, and others. The market, by anesthesia
equipment, has been sub-segmented into anesthesia machines, ventilators,
vaporizers, waste gas management systems, gas delivery management systems, and
others. The market, by research equipment, has been segmented into lab
evacuation systems, and induction chambers. The market, by rescue and
resuscitation equipment, has been segmented into resuscitation bags, and oxygen
masks.
The market, by animal type, has been segmented into small
animals and large animals. The market, by end user, has been segmented into
veterinary clinics, veterinary hospitals, research institutes, and others.
Regional Analysis
The market in the Americas is expected to dominate the
global veterinary equipment and disposables market during the forecast period
owing to the increasing per capita animal healthcare expenditure, increase in
product innovation, and heavy adoption of new technology in the region. Europe
is expected to hold the second largest position in the global veterinary
equipment and disposables market. The market growth in this region is because
of the presence of a well-established healthcare system and increase in
insurance coverage for pets. The growth in the number of animal population
coupled with the increase in the number of veterinarians is also contributing
to the growth in the region. For instance, according to the facts and figures
from the Royal College of Veterinary Surgeons, there were about 19,682
practicing surgeons in the UK in 2014. Asia-Pacific is estimated to be the
fastest growing region in the market due to the increased pet adoptions and
rise in the number of animal welfare programs. According to the India
International Pet Trade Fair, the pet population in India grew from 7 million
in 2006 to 10 million in 2014. The market in the Middle East & Africa is
likely to account for the smallest share of the global veterinary equipment and
disposables market. The market growth in this region owes to the low disposable
income in the region.
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