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Global Veterinary Equipment and Supplies Market – Industry Trends and Forecast to 2031

Healthcare

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Global Veterinary Equipment and Supplies Market – Industry Trends and Forecast to 2031

  • Healthcare
  • Upcoming Report
  • Apr 2024
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Veterinary Equipment and Supplies Market – Industry Trends and Forecast to 2031

Market Size in USD Billion

CAGR :  % Diagram

Diagram Forecast Period 2023–2031
Diagram Market Size (Base Year) USD 2,236.10 USD Million
Diagram Market Size (Forecast Year) USD 4,032.80 USD Million
Diagram CAGR %

Major Markets Players

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Global Veterinary Equipment and Supplies Market, By Type (Critical Care Consumables, Anesthesia Equipment, Fluid Management Equipment, Temperature Management Equipment, Patient Monitoring Equipment, Research Equipment, Rescue & Resuscitation Equipment), Application (Surgical Application, Diagnosis, Monitoring, Therapy), Technology Level (Basic Equipment, Advanced Equipment, Cutting Edge Equipment), Animal Type (Small Companion Animals, Large Animals, Others), End User (Veterinary Clinics, Veterinary Hospitals, Veterinary Research Institutes, Veterinary Laboratories, Others) – Industry Trends and Forecast to 2031.

Veterinary Equipment and Supplies Market Analysis and Size

The veterinary equipment and supplies market encompasses the industry dedicated to the production, distribution, and sale of specialized equipment, instruments, consumables, and services tailored for veterinary medicine. Encompassing a broad array of products, from diagnostic imaging and surgical instruments to pharmaceuticals and hospital furniture, this market plays a vital role in supporting veterinary professionals, clinics, and research institutions worldwide.              

Data Bridge Market Research analyses that the Veterinary Equipment and Supplies  market which was USD 2,236.1 million in 2023, would rocket up to USD 4,032.80 million by 2031, and is expected to undergo a CAGR of 7.65% during the forecast period. This indicates that the market value. “critical care consumables” dominates the type segment of the veterinary equipment and supplies market since highest demand for consumables for veterinary diseases to dominate the market. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2024 to 2031

Base Year

2023

Historic Years

2022 (Customizable to 2017-2022)

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

Type (critical care consumables, anesthesia equipment, fluid management equipment, temperature management equipment, patient monitoring equipment, research equipment and rescue & resuscitation equipment), Application (surgical application, diagnosis, monitoring, and therapy), Technology level (basic equipment, advanced equipment and cutting edge equipment), Animal type (small companion animals, large animals and others), End user (veterinary clinics, veterinary hospitals, veterinary research institutes, veterinary laboratories and others)

Countries Covered

U.S., Canada, Mexico, U.K., Germany, France, Spain, Italy, Netherlands, Switzerland, Russia, Belgium, Turkey, Rest of Europe, China, South Korea, Japan, India, Australia, Singapore, Malaysia, Indonesia, Thailand, Philippines, Rest of Asia-Pacific, South Africa, Rest of Middle East and Africa, Brazil, and Rest of South America

Market Players Covered

Covetrus Inc. (U.S.), B. Braun Vet Care GmbH (Germany), BD Animal Health (U.S.), ICU Medical, Inc. (U.S.), Midmark Corporation (U.S.), Cardinal Health (U.S.), Neogen Corporation (U.S.), Integra LifeSciences (U.S.), Shenzhen Mindray animal medical technology co., ltd. (China), Masimo Corporation (U.S.), Avante Animal Health (U.S.), RWD life science co., ltd (China), Eickemeyer (Germany), Bionet America, Inc (South Korea), Jorgensen Laboratories (U.S.), Nonin Medical (U.S.), Digicare Animal Health (U.S.), Hallowell Engineering And Manufacturing Corporation (U.S.), Grady Medical (U.S.), Mila International Inc. (U.S.), Burtons Medical Equipment Ltd (U.K.), Vetronic Services Ltd (U.K.), Advances Veterinary (U.K.), New Gen Medical Systems (India) and Dispomed (Canada)

Market Opportunities

  • Surge in demand pet insurance and rise in animal health expenditure
  • Increasing prevalence of chronic conditions
  • Emerging market with untapped opportunities

Market Definition

The veterinary equipment and supplies refer to the tools, instruments, devices, and consumables used by veterinarians and animal healthcare professionals in the diagnosis, treatment, and care of animals. These equipment and supplies are essential for providing medical, surgical, and preventive care to a wide range of animals, including pets, livestock, and wildlife. Veterinary equipment and supplies include items such as diagnostic equipment (e.g., ultrasound machines, X-ray machines), surgical instruments (e.g., scalpels, forceps), anesthesia machines, dental equipment, cages and kennels, grooming supplies, and various consumables (e.g., bandages, syringes, vaccines). These products are designed to meet the specific needs of veterinary medicine and play a crucial role in maintaining animal health and welfare.

Global Veterinary Equipment and Supplies Market Dynamics

Drivers

  • Rising pet ownership and expenditure

The global trend of increasing pet ownership, particularly in developed and emerging economies, has been a significant driver for the veterinary equipment and supplies market. As more individuals and families embrace pets as integral members of their households, there is a higher demand for advanced veterinary care and services. This surge in pet ownership contributes to the need for modern diagnostic tools, surgical equipment, and other supplies, propelling the growth of the veterinary equipment market.

  • Advancements in veterinary technology

Ongoing advancements in veterinary technology have led to the development of sophisticated diagnostic and treatment tools, enhancing the capabilities of veterinary practitioners. Innovations such as digital imaging systems, minimally invasive surgery equipment, and advanced monitoring devices have not only improved the quality of care for animals but have also spurred the replacement and upgrading of older equipment. The constant evolution of technology in the veterinary sector is a key driver fueling the demand for cutting-edge equipment and supplies.

  • Increasing focus on animal health and welfare

Growing awareness and concern for animal health and welfare, driven by ethical considerations and regulatory initiatives, have heightened the demand for high-quality veterinary care. Veterinary professionals and animal caregivers are increasingly investing in equipment and supplies that facilitate accurate diagnosis, effective treatment, and overall well-being of animals. This trend is particularly evident in both companion animal care and livestock management, reflecting a broader societal emphasis on ethical and responsible animal stewardship.

  • Growing investment for healthcare facilities

Surging focus towards improving the condition of healthcare facilities and improving the overall healthcare infrastructure another important factor fostering the growth of the market. Rising number of partnerships and strategic collaborations between the public and private players pertaining to funding and application of new and improved technology is further creating lucrative market opportunities.  

Opportunities

  • Technological advancements and innovation

The continuous evolution of technology presents a significant opportunity for the global veterinary equipment and supplies market. Ongoing innovations in diagnostic imaging, wearable devices, telemedicine solutions, and robotic-assisted surgery tools can enhance the efficiency and precision of veterinary care. Manufacturers that invest in research and development to bring technologically advanced and user-friendly products to market are poised to capitalize on this opportunity, meeting the evolving needs of veterinary practitioners and improving overall animal healthcare.

  • Expansion of pet insurance and wellness programs

The increasing acceptance and popularity of pet insurance and wellness programs offer an opportunity for the veterinary equipment and supplies market. As more pet owners seek comprehensive coverage for veterinary services, there is a corresponding demand for high-quality diagnostics, treatments, and preventive care. Veterinary equipment manufacturers and suppliers can collaborate with insurance providers to create bundled solutions or packages that cater to the needs of insured pet owners, promoting the adoption of advanced veterinary equipment and services.

Restraints

  • High Cost of Advanced Veterinary Equipment

The high cost associated with acquiring and maintaining advanced veterinary equipment poses a significant restraint on the global market. Veterinary practices, especially smaller clinics or those in developing regions, may face financial constraints that limit their ability to invest in cutting-edge technologies. This can result in a slow adoption rate of innovative equipment, hindering market growth. Manufacturers and suppliers need to balance the development of advanced technologies with strategies to address affordability concerns, such as offering financing options or creating cost-effective alternatives.

  • Stringent Regulatory Approval Processes

The veterinary equipment and supplies market is subject to regulatory oversight, and obtaining approvals for new products can be a time-consuming and costly process. Stringent regulatory requirements, particularly in developed markets, may create barriers for manufacturers, leading to delays in product launches and increased compliance-related expenses. This can impede innovation and slow down the introduction of new solutions to the market, limiting the overall growth potential for both established and emerging players.

Challenges

  • Limited Awareness and Education in Certain Regions

In some regions, particularly in developing countries, there may be limited awareness and education regarding the benefits of advanced veterinary equipment and modern healthcare practices for animals. A lack of awareness among veterinary professionals and pet owners about the advantages of using specialized equipment can act as a restraint on market growth.

  • Fragmented Nature of Veterinary Practices

The veterinary industry is often characterized by a fragmented landscape, with numerous small and independent practices operating alongside larger veterinary hospitals and research institutions. This fragmentation can pose challenges for manufacturers and suppliers in terms of distribution, marketing, and standardization of equipment. Catering to the diverse needs and preferences of various practices may require a more customized approach, impacting economies of scale and potentially increasing operational complexities for companies in the veterinary equipment market.

This veterinary equipment and supplies  market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the veterinary equipment and supplies market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Developments

  • In Aug 2023, ICU Medical received 510(k) regulatory clearance from the U.S. Food and Drug Administration (FDA) for the Plum Duo infusion pump with LifeShield infusion safety software. The Plum Duo pump and LifeShield software will be available to customers in the U.S. in early 2024
  • In October 2022, Clayton, Dubilier & Rice (CD&R) and TPG Capital completed acquisition of Covetrus Inc. Covetrus became a private corporation as a result of this transaction, and its shares are no longer listed or traded publicly

Global Veterinary Equipment and Supplies Market Scope

The veterinary equipment and supplies market is segmented on the basis of type, application, technology level, animal type and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

  • Critical Care Consumables
  • Anesthesia Equipment
  • Fluid Management Equipment
  • Temperature Management Equipment
  • Patient Monitoring Equipment
  • Research Equipment
  • Rescue & Resuscitation Equipment

Application

  • Surgical Application
  • Diagnosis, Monitoring, And Therapy

 Technology level

  • Basic Equipment
  • Advanced Equipment
  • Cutting Edge Equipment

Animal type

  • Small Companion Animals
  • Large Animals
  • Others

End user

  • Veterinary Clinics
  • Veterinary Hospitals
  • Veterinary Research Institutes
  • Veterinary Laboratories
  • Others

Global Veterinary Equipment and Supplies Market Regional Analysis/Insights

The veterinary equipment and supplies market is analyzed and market size insights and trends are provided by country, type, application, technology level, animal type, and end user as referenced above.

The countries covered in the market report are U.S., Canada, Mexico, Germany, France, U.K., Belgium, Lithuania, Austria, Ireland, Norway, Poland, Italy, Spain, Russia, Turkey, Netherlands, Switzerland, rest of Europe, Japan, China, South Korea, India, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, rest of Asia-Pacific, Brazil, Argentina, rest of South America, South Africa, Saudi Arabia, U.A.E., Egypt, Israel and rest of Middle East and Africa.

North America is expected to dominate the market due to the rise of large manufacturers, the presence of major market players and increased technological advancement in the region.

Asia-Pacific is expected to observe a significant amount of growth in the market due to the rapid necessity for telemedicine and healthcare support.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Healthcare Infrastructure growth Installed base and New Technology Penetration

The veterinary equipment and supplies market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for veterinary equipment and supplies market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the veterinary equipment and supplies market. The data is available for the historic period 2011-2021.

Competitive Landscape and Global Veterinary Equipment and Supplies Market Share Analysis

The veterinary equipment and supplies market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to veterinary equipment and supplies market.

Some of the major players operating in the veterinary equipment and supplies market are:

  • Covetrus Inc. (U.S.)
  • B. Braun Vet Care GmbH (Germany)
  • BD Animal Health (U.S.)
  • ICU Medical, Inc. (U.S.)
  • Midmark Corporation (U.S.)
  • Cardinal Health (U.S.)
  • Neogen Corporation (U.S.)
  • Integra LifeSciences (U.S.)
  • Shenzhen Mindray animal medical technology co., ltd. (China)
  • Masimo Corporation (U.S.)
  • Avante Animal Health (U.S.)
  • RWD life science co., ltd (China)
  • Eickemeyer (Germany)
  • Bionet America, Inc (South Korea)
  • Jorgensen Laboratories (U.S.)
  • Nonin Medical (U.S.)
  • Digicare Animal Health (U.S.)
  • Hallowell Engineering and Manufacturing Corporation (U.S.)
  • Grady Medical (U.S.)
  • Mila International Inc. (U.S.)
  • Burtons Medical Equipment Ltd (U.K.)
  • Vetronic Services Ltd (U.K.)
  • Advances Veterinary (U.K.)
  • New Gen Medical Systems (India)
  • Dispomed (Canada)


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FREQUENTLY ASK QUESTIONS

The Veterinary Equipment and Supplies Market size will be worth USD 4,032.80 million by 2031.
The Veterinary Equipment and Supplies Market growth rate will be 7.65% by 2031.
The Rising pet ownership and Advancements in veterinary technology are the growth drivers of the Veterinary Equipment and Supplies Market.
The type, application, technology level, animal type and end user are the factors on which the Veterinary Equipment and Supplies Market research is based.
The major companies in the Veterinary Equipment and Supplies Market are Covetrus Inc. (U.S.), B. Braun Vet Care GmbH (Germany), BD Animal Health (U.S.), ICU Medical, Inc. (U.S.), Midmark Corporation (U.S.), Cardinal Health (U.S.), Neogen Corporation (U.S.), Integra LifeSciences (U.S.), Shenzhen Mindray animal medical technology co., ltd. (China), Masimo Corporation (U.S.), Avante Animal Health (U.S.), RWD life science co., ltd (China), Eickemeyer (Germany), Bionet America, Inc (South Korea), Jorgensen Laboratories (U.S.), Nonin Medical (U.S.), Digicare Animal Health (U.S.), Hallowell Engineering And Manufacturing Corporation (U.S.), Grady Medical (U.S.), Mila International Inc. (U.S.), Burtons Medical Equipment Ltd (U.K.), Vetronic Services Ltd (U.K.), Advances Veterinary (U.K.), New Gen Medical Systems (India) and Dispomed (Canada).
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