Asia Pacific Veterinary Equipment And Disposables Market Size, Share & Trends Analysis Report By Product (Critical Care Consumables, Rescue & Resuscitation Equipment), By Animal Type, By End Use, By Country, And Segment Forecasts, 2021 - 2028

Report Overview

The Asia Pacific veterinary equipment and disposables market size was valued at USD 345.3 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 9.3% from 2021 to 2028. Rising research activities, pet population, and a number of vet visits are factors expected to boost market growth in the region. The increase in pet population is supported by factors such as high aging population in countries like Japan, Australia, and South Korea; increasing single-member households; and rising disposable income.  The livestock population is also on a growth trend due to the rising demand for medical research and meat-& livestock-derived products.

The COVID-19 outbreak restricted the growth of the market for veterinary equipment and disposables due to a reduction in patient volume in veterinary clinics as well as hospitals and cancellation or delayed animal-based research projects. A 2020 survey by the UN FAO on the Impact of COVID-19 on the delivery of veterinary animal disease reporting and services, indicated a negative impact on veterinary services across the globe including the Asia Pacific region. Survey participants reported a decrease in procedure volume and activities in laboratory diagnostics, visits to livestock farms, supply chain challenges, and others thus lowering the demand for veterinary equipment and disposables.

According to a January 2021 article published in the Frontieres Media S.A. online journal, the restrictions on human movement and curbs on social gatherings created angst and fear across the Australian society regarding the manner of implementation thus affecting all Australian sectors that care for animals. Research and teaching institutions using animals implemented staffing processes to continue animal welfare while most research was either canceled or continued under modified conditions, as required by Australian laws and Animal Ethics Committees (AECs). There was also a decrease in breeding for animal colonies, wherever appropriate. The COVID-19 Animal Welfare Response Reference Group (COVAWRRG) was created in March 2020, as a national and multisectoral response to the pandemic.

Several initiatives by the government and private sector are other factors indirectly fueling the growth of the market for veterinary equipment and disposables. For instance, in May 2019, a fundraising round led by BitRock Capital in China invested over USD 30 million in OneDegree-a Hong Kong-based pet insurance company. In addition, in its Budget 2021, the Indian government reduced custom duties on some raw materials and inputs used by the domestic animal husbandry industry, to promote domestic manufacturing. These initiatives by public and private players are expected to drive the market for veterinary equipment and disposables.

According to Animal Medicines Australia, household expenditure on veterinary services has been increasing in the country. Australians were estimated to have spent over USD 2.6 billion on veterinary services in 2019. The top reasons for vet visits are general checkups, vaccination, illness/injury, de-sexing, dental concerns, surgery, pathology and lab tests, X-ray and imaging, and hospitalization.

Research is another area where the use of animals and related equipment and disposables is growing. In fact, as per Cruelty Free International, China, Japan, Australia, and South Korea are among the top 10 animal testing countries across the globe. The COVID-19 pandemic led to a global surge in R&D activities for vaccines and other treatment options. This also impelled the demand for lab animals for research in clinical trials, creating opportunities for veterinary equipment and disposables manufacturers.

Harbin Veterinary Research Institute (HVRI), in China, is among the many entities involved in the development of vaccines and other treatments for diseases including African swine fever. In March 2020, HVRI announced that it would be testing its potential vaccine candidate in a clinical trial, involving 10 to 20,000 pigs. Veterinary equipment and disposables market players can leverage such initiatives by supplying necessary products for R&D.

Product Insights

The critical care consumables segment dominated the market for veterinary equipment and disposables and held the major revenue share of 39.2% in 2020. This was owing to their high usage in almost all types of veterinary procedures. The product segment is divided into critical care consumables, anesthesia equipment, fluid management equipment, temperature management equipment, rescue and resuscitation equipment, research equipment, and patient monitoring equipment.

The research equipment segment is estimated to witness the highest CAGR over the next few years. An increase in research activities undertaken for various applications, such as veterinary research, drug development, production of biological agents, and development of treatment of diseases and infections (e.g. COVID-19), is one of the main drivers expected to boost demand for research equipment.

Animal Type Insights

In 2020, the companion animal segment dominated the Asia Pacific veterinary equipment and disposables market and accounted for the largest revenue share of 59.7%. The segment is also expected to register a high CAGR over the forecast period. The presence of many manufacturers and traders in the Asia Pacific region contributes to the revenue share of the segment. AMPall Co., LTD. is a South Korean company that manufactures veterinary infusion pumps among other products. The livestock animal segment is also anticipated to grow significantly over the forecast period.

End-use Insights

The veterinary hospitals/ clinics dominated the market for veterinary equipment and disposables and accounted for the largest revenue share of 85.9% in 2020. Veterinary hospitals/ clinics see the highest footfall of patients and carry out the majority of the veterinary procedures and surgeries that involve the use of equipment and disposables. This contributes to segment growth.

The research institutes segment is expected to witness the highest CAGR from 2021 to 2028 owing to an increase in research activities for the development of human and animal products.

Country Insights

The China, Hong Kong, Taiwan segment dominated the market for veterinary equipment and disposables and held the largest revenue share of 29.8% in 2020. The New Zealand segment is expected to register the fastest CAGR over the forecast period. Based on country, the market is categorized into Japan, China, Hong Kong, Taiwan, India, Thailand, Australia, South Korea, Singapore, Vietnam, New Zealand, Malaysia, Philippines, and Indonesia.

The presence of a large number of manufacturers, distributors, and traders is expected to contribute to the growth of the market for veterinary equipment and disposables. For instance, Shenzhen Mindray Bio-Medical Electronics Co., Ltd. in China, offers a wide portfolio of patient monitoring systems, anesthesia machines, infusion pumps, in-vitro diagnostic analyzers, and medical imaging equipment for veterinary applications.

Key Companies & Market Share Insights

Key players are involved in various strategic initiatives to increase their market share and regional presence. For instance, in March 2021, Midmark Corporation launched an in-clinic veterinary anesthesia simulation training through Midmark Academy. The company also provides a wide portfolio of veterinary equipment and disposables. Some of the prominent players in the Asia Pacific veterinary equipment and disposables market include:

• Smiths Medical

• Nonin

• B. Braun Melsungen AG

• Kshama Equipments

• Vetland Medical Sales & Services

• Midmark Corporation

• Shenzhen Mindray Bio-Medical Electronics Co., Ltd.

• Dispomed Ltd.

Asia Pacific Veterinary Equipment And Disposables Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at regional and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2028. For the purpose of this report, Grand View Research has segmented the Asia Pacific veterinary equipment and disposables market report on the basis of product, animal type, end-use, and country:

• Product Outlook (Revenue, USD Million, 2016 - 2028)

  • Critical Care Consumables

    • Wound Management Consumables

    • Airway Management Consumables

    • Gastroenterology Consumables

    • Needles

    • Fluid Administration and Therapy Consumables

    • Accessories

    • Others

  • Anesthesia Equipment

    • Complete Anesthesia Machines

    • Ventilators

    • Vaporizers

    • Waste Gas Management Systems

    • Gas Delivery Management Systems

    • Accessories

  • Fluid Management Equipment

    • Large-Volume Infusion Pumps

    • Syringe Pumps

  • Temperature Management Equipment

    • Patient Warming Systems

      • Convection Warming Systems

      • Conduction Warming Systems

    • Fluid Warmers

  • Rescue & Resuscitation Equipment

    • Resuscitation Bags

    • Oxygen Masks

  • Research Equipment

    • Lab Evacuation Systems

    • Induction Chambers

  • Patient Monitoring Equipment

• Animal Type Outlook (Revenue, USD Million, 2016 - 2028)

  • Companion Animal

    • Dogs

    • Cats

    • Horses

    • Others

  • Livestock Animal

• End-use Outlook (Revenue, USD Million, 2016 - 2028)

  • Veterinary Hospitals/Clinics

  • Research Institutes

• Country Outlook (Revenue, USD Million, 2016 - 2028)

  • China, Hong Kong, Taiwan

  • Japan

  • India

  • Thailand

  • Australia

  • South Korea

  • Singapore

  • Vietnam

  • New Zealand

  • Malaysia

  • Philippines

  • Indonesia