2023 Key Insights for Veterinary Equipment and Disposables Market - Jumped at 8.0% CAGR, Know the Key Insights, Top Trends, Overview and Global Forecast

Veterinary equipment and consumables market report used in animal hospitals and clinics for various applications, such as anesthetic medication, respiratory support, temperature management, and fluid management. Veterinary equipment is also used in basic biomedical and medical research.

Global veterinary equipment and disposables market is valued at USD 1.63 billion in 2018 and projected to reach USD 2.40 billion by 2023, at a CAGR of 8.0%. Rising animal health expenditure and a growing demand for pet insurance, increasing number of veterinary practitioners in developed regions, and growth in companion animals market are primary drivers for global veterinary equipment and disposables market during forecast period.

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Veterinary equipment and disposables market are expected to provide further growth opportunities for players operating in the veterinary equipment and disposables market. However, the increasing cost of pet care and a focus on alternatives to animal testing are expected to restrain the growth of this market to a certain extent.

Objectives of the Study
• To define, describe, and forecast the global veterinary equipment and disposables market by type, animal, end user, and region
• To provide detailed information about factors influencing market growth (drivers, restraints, opportunities, and industry-specific challenges)
• To strategically analyze micromarkets with respect to the individual growth trends, prospects, and contributions to the overall market
• To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
• To forecast the size of the market segments in North America, Europe, Asia Pacific, Latin America and the Middle East & Africa, along with major countries in these regions
• To strategically profile key players and comprehensively analyze their market shares and core competencies in the market
• To track and analyze competitive developments such as partnerships, agreements, collaborations, and alliances in the global veterinary equipment and disposables market

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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).

Target Audience:
• Veterinary equipment and disposables manufacturers and distributors
• Veterinary institutions
• Research institutes
• Contract manufacturing organizations (CMOs)
• Government associations
• Market research and consulting firms
• Venture capitalists and investors

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Rising animal health expenditure and a 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 and disposables market during the forecast period. The base year considered for the study is 2017 and the forecast period includes 2018 to 2023.

Supply Side
• By Company Type – Tier 1–28%, Tier 2–43% and Tier 3–29%
• By Designation – C-level–14%, Director Level–43%, Others–43%
• By Region – North America–43%, Europe–14%, Asia Pacific–29%, Latin America–14%

Demand Side
• By End User – Veterinary hospitals – 47%, Veterinary clinics – 33%, Research Institutes – 20%
• By Designation – Veterinarians – 35%, Veterinary Lab Technicians – 27%, Hospital Directors & Managers – 22%, Others – 16%
• By Region – North America–34%, Europe–22%, Asia Pacific–20%, Latin America –16%, ME&A – 8%

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This release was published on openPR.