U.S. Veterinary Capital Equipment Market Is Expected To Expanding At A CAGR Of 4.8% Over The Period 2017-2024

U.S. veterinary capital equipment market reached USD 697.7 Million in 2016 and is expected to reach USD 1,003.2 Million by the end of 2024, expanding at a CAGR of 4.8% over the period i.e. 2017-2024. The growth of veterinary capital equipment market is attributed to increasing number of veterinary practitioners in the country. Moreover, rising awareness about animal diseases among pet owners is anticipated to positively impact the growth of the U.S. veterinary capital equipment market.

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Further, increasing number of pet ownership is yet another major growth driver for U.S. veterinary capital equipment market. Ownership of pet is believed to increase in the years ahead. Various health benefits of adopting pets such as less stress and high physiological stability and animal assisted therapies are bolstering the bond between the pet and their owners. Further, this affectionate bond is increasing the spending on pet’s health, which in turn is positively shaping the growth of U.S. veterinary capital equipment market.

U.S. veterinary capital equipment market is segmented on the basis of product type into veterinary anesthesia, surgical lights, veterinary monitors, veterinary tables, veterinary telemetry systems, autoclaves & sterilizers, centrifuges, defibrillators, dental equipment, electrosurgical equipment, endoscopic equipment, equine equipment, incubators, infusion pumps, medical gas, microscopes, respiratory ventilators, stainless steel, x-ray imaging, syringe pumps, ultrasonography machines & equipment, warming units, suction machines, c-arms and others. X-ray imaging segment (19.6% share in 2016) occupies the largest market of veterinary capital equipment in U.S. Further, x-ray segment is anticipated to reach USD 206.9 Million by the end of 2024 from USD 136.7 Million in 2016.

Ultrasounds segment is anticipated to grow at highest CAGR of 6.1% during the forecast period. Moreover, the market is anticipated to garner USD 58.7 Million by the end of 2024 from USD 37.0 Million in 2016. Further, the segment is expected to achieve absolute USD opportunity of USD 20.0 Million between 2017-2024.

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