Veterinary Equipment And Disposables Market Size, Share & Trends Analysis Report By Product (Critical Care Consumables, Anesthesia Equipment), By Animal Type (Companion, Livestock), By End Use, By Region, And Segment Forecasts, 2022 - 2030

Report Overview

The global veterinary equipment and disposables market size was estimated at USD 2.1 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 8.8% from 2022 to 2030. Demand for better veterinary critical care is boosting market growth. Advancement in monitoring and therapy options such as IV fluid therapy, ventilation support, temperature management, and pain control are further propelling the demand. For instance, in July 2020, Trice Medical joined with Dr. Debra Canapp and Dr. Sherman Canapp at Canapp Sports Medicine LLC, to introduce the veterinary portable tablet. This is world's first combination of both a high-quality ultrasound and disposable needle arthroscope system. Rising pet adoption and the growing prevalence of animal diseases are among the major factors driving the market for veterinary equipment and disposables. Moreover, the rising demand for pet insurance to help limit out-of-pocket expenditure on critical medical conditions, such as accidental injuries, is anticipated to boost market growth. Livestock insurance is available in countries such as India, Malaysia, and Vietnam, which helps cover the cost of several veterinary procedures. An increasing number of insured animals is expected to drive the demand for veterinary procedures and thereby growth of the market.

The Covid-19 pandemic had a significant impact on the market for veterinary equipment and disposables and created opportunities for new fields such as telemedicine for those willing to leverage on them. For instance, in April 2020, Covetrus announced that it is integrating telemedicine capabilities across its global technology portfolio. This innovative functionality offered a continuous and easy way for veterinarians to remotely reach their consumers and patients, using the company’s existing technology solutions.

Growing investments by key players to develop advanced products for better diagnosis are likely to propel the growth. For instance, in November 2020, Kent Scientific Corporation launched “Somnolent Low-Flow Electronic Vaporizer,” the newest anesthesia system for small animals. This vaporizer delivers sevoflurane or isoflurane accurately from the bottle to the animal. This initiative is expected to enhance the company’s product portfolio. Similarly, in July 2020, Midmark Corp. introduced Midmark Multiparameter Monitor. This Multiparameter Monitor is useful in all areas of a veterinary hospital, including treatment, exam, surgery, and recovery.

Product Insights

The critical care consumables segment dominated the market for veterinary equipment and disposables and held the largest revenue share of over 33.0% in 2021. The growth can be attributed to increasing usage of the consumables for various applications such as wound management, airway management, gastroenterology, reproduction, and others. Continuous development and new product launches by the industry players are bolstering the growth. For instance, in March 2021, Axio Biosolutions, an integrated wound care company, launched SureKlot range of products. With this launch, the company expanded into the veterinary wound management space. This innovative wound care range offers India’s first comprehensive veterinary wound management solution.

The rescue and resuscitation equipment segment is expected to show the fastest growth over the forecast period. Managing cardiopulmonary arrest requires quick patient assessment, with immediate implementation of Cardiopulmonary Resuscitation (CPR) in cats and dogs. Rescue and resuscitation equipment is divided into resuscitation bags and oxygen masks. The resuscitation bags segment accounted for the largest market share of over 50.0% under the rescue and resuscitation equipment segment in 2021, owing to their immediate effectiveness in saving lives. However, oxygen masks are also expected to grow at a lucrative rate owing to their easy availability at point-of-care.

Animal Type Insights

The companion animals segment dominated the market for veterinary equipment and disposables and accounted for the largest revenue share of over 64.0% in 2021. Growth in the companion animal population, rising emphasis on pet care, and wellness by pet owners are contributing to the growth of this segment. The dogs segment held the largest market share of the companion animals segment in 2021. The dominant share captured by this is a consequence of the increased number of surgeries. The growing incidence of chronic diseases in dogs is one of the major drivers for the market.

The growing trend of pet adoption is anticipated to accelerate the growth of the market for veterinary equipment and disposables. In the last 30 years, pet ownership has increased from 56.0% to 67.0% in all households and nearly 85.0 million households have a pet, according to American Pet Products Association. Thus, the aforementioned factors are expected to impel market growth. While the growing demand for better treatment and diagnostics, increasing activities in animal husbandry, and growing awareness about the care of livestock animals are some of the key drivers for livestock animal segment growth. Growing initiatives such as stray animal rescue programs and increasing usage of rescue and resuscitation equipment are boosting the revenue. For instance, in March 2020 British Animal Rescue and Trauma Care Association (BARTA) collaborated with Smokey Paws to provide critical care treatment to small animals with specialized animal oxygen masks.

End-use Insights

The veterinary hospitals/clinics segment dominated the market for veterinary equipment and disposables and accounted for a revenue share of around over 82.0% in 2021. The growth can be attributed to the availability of a wide range of treatment options in veterinary hospitals and clinics. Various government animal welfare organizations have issued guidelines for safety practices and standards to be implemented in hospitals, which has broadened the scope for segment growth over the past few years. Besides, this growth can be attributed to the high penetration of veterinary hospitals/clinics across developed nations. An increasing number of veterinary surgeries further augments the growth of the segment.

The research institutes segment is expected to show lucrative growth over the forecast period. Better critical care treatment options for small animals have triggered the demand for research activities which is expected to drive the segment over the forecast period. The functions which are governed by the research institutes in relation to animal treatment are deployment, identification, and development of new treatment procedures for newly emerging or existing diseases in animals which is further boosting the market for veterinary equipment and disposables. The COVID-19 pandemic has intensified research activities, while veterinary institutes are also focused on finding a solution for African swine fever and Highly Pathogenic Avian Influenza (HPAI).

Regional Insights

North America dominated the veterinary equipment and disposables market and held the largest revenue share of over 32.0% in 2021 followed by Europe due to its well-established veterinary healthcare infrastructure, increasing number of companion animals, animal healthcare expenditure, and attentiveness about animal illnesses. The region has seen a rise in veterinary healthcare expenditure which has facilitated the growth of the market for veterinary equipment and disposables in the continent making it the largest market shareholder across the globe.

In the Asia Pacific, the market for veterinary equipment and disposables is expected to show lucrative growth over the forecast period due to the growing practice of pet adoption, increasing vigilance about animal health, intensifying livestock population, developing urbanization, and rising per capita animal health spending. Rising R&D investment by the market entities and veterinary companies for the development of this market to produce value-added products is anticipated to drive growth in the region. An increase in number of veterinary hospitals and clinics in countries such as China and Japan are further boosting the growth. For instance, there are around 1.1 million animal clinics are present in China as of April 2020.

Key Companies & Market Share Insights

The market players are constantly involved in strategic initiatives such as new product launches, regional expansion, and mergers and acquisitions to gain deeper penetration. For instance, in July 2021, Covertrus, Inc. entered into an agreement to acquire VCP. VCP is a global leader in animal health technology and services. Likewise in December 2020, Imbed Biosciences Inc. revealed that it formed an exclusive distribution deal with Jorgensen Laboratories to sell its MicroLyte VET wound dressing product to veterinary clinics and hospitals in Canada and the U.S. Initiatives like these are expected to boost the market growth in the coming years. Some of the prominent players in veterinary equipment and disposables market include:

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

• Smiths Medical, Inc.

• Nonin Medical, Inc.

• Digicare Biomedical

• Covetrus, Inc.

• B. Braun Melsungen AG

• DRE Veterinary

• Vetland Medical Sales and Services

• Midmark Corporation

• Jorgensen Labs

• Grady Medical

Veterinary Equipment And Disposables Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For the purpose of this study, Grand View Research has segmented the global veterinary equipment and disposables market report on the basis of product, animal type, end use, and region:

• Product Outlook (Revenue, USD Million, 2017 - 2030)

  • 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, 2017 - 2030)

  • Companion Animal

    • Dogs

    • Cats

    • Horses

    • Others

  • Livestock Animal

• End-use Outlook (Revenue, USD Million, 2017 - 2030)

  • Veterinary Hospitals/Clinics

  • Research Institutes

• Regional Outlook (Revenue, USD Million, 2017 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

  • Asia Pacific

    • Japan

    • China

    • India

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East & Africa

    • South Africa

    • Saudi Arabia