Factors Responsible for Growth and In-Depth Analysis?
The Veterinary equipment and disposables are used in monitoring, surgeries, and the treatment of diseases in animals. Rising animal health expenditure and growing demand for pet insurance, increasing number of veterinary practitioners in developed regions, and growth in the companion animals market are the primary drivers for the global veterinary equipment market and veterinary disposables market during the forecast period.
The prominent players in the veterinary equipment and disposables market are Mindray Medical International Limited (China), Smiths Group plc (UK), Nonin Medical (US), Digicare Biomedical Technology, Inc. (US), B. Braun Melsungen AG (Germany), Henry Schein (US), Vetland Medical Sales and Services, LLC (US), Hallowell Engineering & Manufacturing Corporation (US), Infiniti Medical, LLC (US), DRE Veterinary (US), and Midmark Corporation (US).
Smiths Group is the leading player in the global veterinary equipment market. This is mainly attributed to its wide geographic presence and distribution network across the globe. The company primarily focuses on strengthening its extensive global sales network. It aims to grow by making customer satisfaction a priority and providing accurate and timely responses and resolutions to consumer needs. The company also provides clinical support to its customers with information pertaining to clinical aspects of veterinary products, which helps the company increase its customer base.
Geographical Analysis in Detailed?
North America is estimated to hold the largest share of the veterinary equipment and disposables market during the forecast period, followed by Europe and the Asia Pacific. Factors such as the increasing number of companion animals, rising companion animal healthcare expenditure, rise in the number of livestock animals in North America (primarily due to the increasing consumption of meat and dairy products), and growth in the pet insurance market are responsible for the region’s large share in the global veterinary equipment market.
Based on type, the veterinary disposables market consists of critical care consumables used for the treatment of animals. It accounted for the largest share in the market in 2017. The large share of consumables can be attributed to a large number of consumables used with single capital equipment, and their high utilization in almost every veterinary care provided ranging from wound management to fluid therapy. The veterinary equipment market is segmented as anesthesia equipment, temperature management equipment, rescue & resuscitation equipment, fluid management equipment, research equipment, and patient monitoring equipment.
Based on the type of animal, the veterinary equipment market and veterinary disposables market is categorized into small companion animals, large animals, and others which comprise zoo animals, aquatic animals, and exotic animals. Increasing adoption of companion pets, increased focus on safety and efficiency in livestock production, increased expenditure on animal health and preventative care, aging pet population, and advancements in animal health products are the major factors driving the growth of the veterinary equipment and disposables market. Extensive marketing programs sponsored by companion animal health and veterinary supply companies are also expected to contribute to the growth of this market during the forecast period.
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