Veterinary Equipment and Disposables Market Set to Grow at 8.0% CAGR and to Reach USD 2.40 Billion by 2023 - Growth Forecast by Top Companies

North America is expected to hold largest share of veterinary equipment & disposables market in 2018. On other hand, APAC region is expected to witness highest CAGR during forecast period, due to growing population of companion & livestock animals & rising per capita income in these countries. Veterinary equipment and disposables market is broadly segmented into five major regions, namely, North America, Europe, Asia Pacific, Latin America, & Middle East & Africa. In 2018, North America is expected to account for largest share of veterinary equipment & disposables market, followed by Europe & Asia Pacific.

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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.

Executive Summary

Premium Insights
4.1 Veterinary Equipment and Disposables Market Overview
4.2 Asia Pacific: Veterinary Equipment and Disposables Market, By End User and Country, 2017
4.3 Veterinary Equipment and Disposables Market: Geographic Growth Opportunities
4.4 Veterinary Equipment and Disposables Market: Geographic Mix, 2018 vs 2023
4.5 Veterinary Equipment and Disposables Market: Developing vs Developed Countries

Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Key Market Drivers
5.2.1.1 Growth in Companion Animal Population
5.2.1.2 Rising Demand for Pet Insurance With Growing Animal Health Expenditure
5.2.1.3 Growth in the Number of Veterinary Practitioners and Income Levels in Developed Economies
5.2.2 Key Market Restraints
5.2.2.1 Rising Pet Care Costs
5.2.2.2 Alternatives to Animal Testing
5.2.3 Key Market Opportunities
5.2.3.1 Untapped Emerging Markets
5.2.4 Key Challenges
5.2.4.1 Lack of Animal Healthcare Awareness in Emerging Markets
5.2.4.2 Shortage of Veterinarians in Emerging Markets
5.3 Industry Trends
5.3.1 Rising Adoption of Big Data and Wearable Devices
5.3.2 Growing Size of Veterinary Businesses

veterinary equipment and disposables globally include the growing animal health spending, rising digit of veterinary practitioners and their growing income levels, increase in companion animals, the mounting demand for pet insurance, and the rising animal research coupled with mounting research grants. However, the mounting price of pet care, severe scarcity of skilled & professional veterinarians, and low animal health understanding are few factors that can restrain the market growth.

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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

The report analyzes the global veterinary equipment and disposables market by type, animal, end user, and region. On the basis of type, the critical care consumables segment is expected to hold the largest share of the global veterinary equipment and disposables market in 2018. The large share of consumables can be attributed to their high consumption in veterinary processes (which necessitates repeated purchases, as opposed to the single purchase necessary for capital equipment).

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The global veterinary equipment and disposables market can be segmented based on animal type, product, and geography. The animal type segment of the market is divided into large animals, research animals, exotic animals, small companion animals, zoo animals, and aquatic animals. The larger animals segment is sub-segmented into equine and bovine & other farm animals. The small companion animals segment is sub-classified into feline and canine.

North America is assumed to lead the market for veterinary equipment and disposables market in the near future owing to the rising digit of veterinary practitioners & their income levels, growing numeral of companion animals, rising attentiveness about animal diseases, growing companion animal healthcare spending, and mounting acceptance of pet insurance.

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