Veterinary Equipment and Supplies Market is expected to grow at a CAGR of 8.1% during the forecasted period | Evolve Business Intelligence

Key Highlights:
• The global Veterinary Equipment and Supplies Market size was valued at USD 3.10 billion in 2023 growing at a CAGR of 8.1% from 2023 to 2033.
• North America dominated the market in 2023
• Asia Pacific is expected to grow at the highest CAGR from 2023 to 2033

As per the study initiated by Evolve Business Intelligence, the global Veterinary Equipment and Supplies Market size accounted for USD 3.10 Billion in 2023, growing at a CAGR of 8.1% from 2023 to 2033. Veterinary equipment and supplies encompass a wide range of tools, instruments, and products used in the diagnosis, treatment, and care of animals. This includes equipment used by veterinarians in clinics, hospitals, and research settings, as well as supplies needed for animal husbandry, surgery, imaging, and laboratory work. Examples of veterinary equipment and supplies include surgical instruments, diagnostic equipment (such as X-ray machines and ultrasound devices), anesthesia machines, monitoring devices, consumables like bandages and syringes, and pharmaceuticals for animal health.

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The growing trend of pet ownership globally has led to an increased demand for veterinary services and related equipment. People are willing to invest in the well-being and healthcare of their pets, driving the need for advanced veterinary equipment and supplies. Similar to human medicine, veterinary medicine has seen advancements in diagnostic and treatment options. This has led to a need for more sophisticated equipment and supplies to provide better care for animals. There is a heightened awareness of the importance of animal health and welfare, leading to increased veterinary care. This awareness is not only among pet owners but also in the context of livestock and other animals used in various industries. Advances in technology have led to the development of more advanced and specialized veterinary equipment. This includes imaging equipment with higher resolution, minimally invasive surgical tools, and improved monitoring devices, all of which contribute to better diagnostic and treatment capabilities.

Key Players
Some of the major Veterinary Equipment and Supplies Market players holding high market shares include Digicare Biomedical, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Nonin Medical, Inc., DRE Veterinary, Covetrus, Inc. These players use partnership and collaboration as a key strategy to gain significant market share to compete with market leaders. Some of the other major market players include B. Braun Melsungen AG, Smith's Medical, Inc., Vetland Medical Sales and Services, Jorgensen Labs, and Midmark Corporation

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Segmental Analysis
Based on product, the Veterinary Equipment and Supplies market is segmented into Imaging, Ventilators, Patient Monitoring, Anesthesia Machines, Disposables, and Other Products. Disposables are the largest segment in the Veterinary Equipment and Supplies market due to their wide range of applications and their relatively low cost. Disposables include items such as syringes, needles, catheters, gloves, and surgical drapes. These items are used in a variety of veterinary procedures, including surgery, anesthesia, and diagnostics.

Based on animals, the Veterinary Equipment and Supplies market is Companion Animals and Livestock Animals. The companion animal segment is the largest in the Veterinary Equipment and Supplies market due to the growing popularity of pets and the increasing willingness of pet owners to spend money on their healthcare. The companion animal segment includes equipment and supplies for dogs, cats, rabbits, hamsters, and other pets.
Based on End Use, the Veterinary Equipment and Supplies market is Veterinary Hospitals and Private Clinics. Veterinary hospitals are the largest segment in the Veterinary Equipment and Supplies market due to their need for a wide range of equipment and supplies. Veterinary hospitals provide a variety of services, including surgery, anesthesia, diagnostics, and dentistry. This requires them to have a wide range of equipment and supplies to provide quality care to their patients.

Key Region/ Countries Covered
• North America (US, Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Spain, Russia, Nordic Countries, BeNeLux, Rest of Europe)
• Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Rest of Asia Pacific)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, South Africa, Rest of MEA)
• Latin America (Mexico, Brazil, Argentina, Rest of Latin America)

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