Press release
Veterinary Equipment and Disposables Market Growth, Opportunities, Industry Applications, Analysis and Forecast To 2025
Veterinary Equipment and Disposables Market
Growing research and development expenditure for veterinary healthcare is a major growth driver. Moreover, increasing number of veterinary hospitals and clinics will further boost product demand. Hence, the afore mentioned reasons will augment veterinary equipment and disposables market growth.
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However, dearth of skilled professionals in the field of animal health will obstruct the growth of veterinary equipment and disposables Market. Additionally, high cost associated with animal healthcare practice will further limit market growth.
The imaging segment is expected to witness substantial growth over the forecast period. Veterinary imaging techniques are gaining popularity around the world. Rising awareness pertaining to various animal health issues and conditions among companion and livestock animal owners will be one of the major factors leading to imaging segment growth.
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Companion animals' segment is expected to witness favorable growth across the projected timeframe. High growth is attributed to increasing number of pet injuries and diseases, thus propelling segment growth. Increasing spending on pet care services and rising awareness among pet owners regarding various animal health issues will primarily drive segment growth. Additionally, increasing number of pet adoption in developing and developed economies will further boost segmental growth in the future.
The veterinary hospital segment is expected to hold major chunk of revenue over the forecast period. Hospitals offer state-of-the-art facilities for appropriate diagnostic tests and surgeries at an affordable rate. Additionally, increasing preference of people in the developing economies for hospitals over other medical facilities due to affordability will further augment market growth.
The U.S. is expected to witness substantial growth over the forecast period owing to the presence of well-developed healthcare infrastructure and technological advancements. Furthermore, increasing prevalence of zoonotic diseases in the U.S. will further propel market growth. Additionally, rising demand for pet insurance coupled with growing prevalence of various disorders that require surgical procedures will significantly drive country growth.
China is expected to witness significant growth in the veterinary equipment and disposables market during the analysis period. High growth is attributed to increasing prevalence of animal diseases in various parts of China. Also, rising disposable income and growing awareness among pet and livestock owners regarding animal health will support the growth of China veterinary equipment and disposables market.
Some of the key industry players include B. Braun Melsungen AG, DRE Veterinary, Digicare Biomedical Technology Inc., Henry Schein Animal Health, Midmark Corporation, Medtronic, Smiths Medical Inc., Vetland Medical Sales and Services, Vetronic Services Ltd and Mindray Medical International Limited. Key strategies adopted by industry players include strategic collaborations, partnerships, mergers, and innovative product launch to expand their business product portfolio.
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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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