Press release
Increasing Pet Ownership Boosts The Veterinary Medical Equipment Market Driver: Leading Transformation in the Veterinary Medical Equipment Market in 2025
Veterinary Medical Equipment
The veterinary medical equipment market is predicted to benefit from the rise in pet ownership. This increase is largely led by the growth in disposable incomes, the awareness of the emotional and physical advantages of having a pet as a companion, and the changing societal norms that include pets as crucial parts of the family. Keeping animals as companion or pets is what pet ownership entails. Veterinary medical equipment like home diagnostic kits and portable monitoring devices that are used by pet owners enable them to manage their pets' wellbeing more efficiently, aiding in the early detection of diseases and ensuring prompt veterinary attention. For example, as per the data from the American Veterinary Medical Association, a non-profit professional group, there will be a rise in dog-owning homes in the U.S., with an expected increase of 59.8 million by 2024, accounting for 45.5% of all U.S homes. Simultaneously, the number of households owning cats is expected to grow by 42.1 million by 2024, amounting to 32.1% of all U.S homes. Therefore, the veterinary medical equipment market is poised for growth due to the surge in pet ownership.
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What Is the projected market size and growth rate for the veterinary medical equipment market?
The market size of veterinary medical equipment has seen robust growth in recent times. The projection is a rise from $3.42 billion in 2024 to a substantial $3.69 billion in 2025, with a compound annual growth rate (CAGR) of 7.9%. Factors such as a spike in pet ownership among gen x and gen y adults, higher pet expenditure, and the rise in disease prevalence are contributing to this historic period growth.
Over the coming years, the veterinary medical equipment market is projected to experience significant growth, reaching a value of $4.93 billion in 2029 with a compound annual growth rate (CAGR) of 7.5%. Several factors contribute to this growth during the forecast period, including the rising adoption of companion animals, the utilization of portable x-rays and ultrasound scanners that enhance veterinary treatment efficiency, the increasing living standards and the expansion of the middle class, as well as the growing awareness concerning pet vaccinations and the legal requirement of microchipping. The major trends that are expected to mark this forecast period include a focus on advanced technologies by veterinary diagnostic providers for speeding up medical diagnoses, the rapid rise in companion animal adoption which will boost the market, the suggested adoption of molecular biology by veterinary diagnostic service providers to detect diseases earlier, the growing trend towards wearable technologies that allow farmers and vets to monitor key health parameters in pets and animals, and the recommended use of 3D printers by companies to increase the adaptability and customization of veterinary equipment.
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How are the latest trends influencing the growth of the veterinary medical equipment market?
The progress in diagnostic technologies has enhanced the functionality of veterinary services. Devices like mobile x-ray and portable ultrasound scanners have augmented the effectiveness of veterinary care (particularly in emergency injury situations) for all types of animals including equine/large animals, pets, exotic and mixed animal practices. Wristscan V9, a diagnostic tool, for instance, is employed for conducting pregnancy tests on animals. Moreover, the Alivecor iPhone application is used for carrying out electrocardiograms on animals for review by a cardiologist.
What major market segments define the scope and growth of the veterinary medical equipment market?
The veterinary medical equipment market covered in this report is segmented -
1) By Type: Veterinary Diagnostic Equipment, Veterinary Anesthesia Equipment, Veterinary Patient Monitoring Equipment, Other Veterinary Medical Equipment
2) By Product: Instruments/Equipment, Disposables
3) By Animal Type: Small Companion Animals, Large Animals, Other Animals
4) By End User: Veterinary Hospitals, Veterinary Clinics, Research Institutes
Subsegments:
1) By Veterinary Diagnostic Equipment: X-Ray Systems, Ultrasound Systems, Magnetic Resonance Imaging (MRI) Systems, Computed Tomography (CT) Scanners, Endoscopy Devices
2) By Veterinary Anesthesia Equipment: Anesthesia Machines, Ventilators, Vaporizers, Gas Delivery Management Systems, Waste Gas Management Systems
3) By Veterinary Patient Monitoring Equipment: ECG Monitors, Blood Pressure Monitors, Respiratory Monitors, Temperature Monitors, Multiparameter Monitors
4) By Other Veterinary Medical Equipment: Surgical Instruments, Infusion Pumps, Dental Equipment, Laboratory Equipment
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Which region dominates the veterinary medical equipment market?
North America was the largest region in the veterinary medical equipment market in 2024. Asia-Pacific was the second-largest region in the veterinary medical equipment market. The regions covered in the veterinary medical equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Which key market leaders are driving the veterinary medical equipment industry growth?
Major companies operating in the veterinary medical equipment market include Covetrus Inc., IDEXX Laboratories Inc., Integra LifeSciences Corporation, Mindray Medical International Limited, Midmark Corporation, Smiths Group plc, Carestream Health, Agfa-Gevaert Group, Nonin Medical, B. Braun Vet Care GmbH, Risol International Industrial Co., Limited, Guangzhou Medsinglong Import & Export Co., Ltd., Arosol Chemicals Private Limited, Applied Bio Diagnostics Private Limited, Zoetis, Elanco, Merck Co. Inc, Vetpak, Agilis Ltd, Eickemeyer, Vetlabsupplies, Burtons, Virbac, Avz Animal Health, Dixion, Vic Group, Vetmarket, Draminski, Chifa, Ogena Solutions, Axiom Medical Inc, Carolina Scales Inc, Cenogenics Corp, Renco Corporation, Gervetusa Veterinary Surgical Instruments, X-Cel X-Ray Corp, Surgitel, Div. Of General Scientific Corp, Spectrum Chemical Mfg. Corp, Boston Medical, Enso Doctors, Medical Coaches Inc, Lab Oratorio Proagro S.A., Vesalius Pharma Ltd., Apilab Srl, Ceba, Centrovet, Hoppner Vet, Instituto Veterinario Uruguay S.A, Interchem Ltda, Saudi Pharmaceutical Industries (Spi), Bimeda Chemicals Limited, DBK Pharma S.A.E., MSD Animal Health South Africa, Ceva Animal Health (Pty) Ltd
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What Is Covered In The Veterinary Medical Equipment Global Market Report?
• Market Size Forecast: Examine the veterinary medical equipment market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the veterinary medical equipment market for a structured understanding.
• Key Players Overview: Analyze major players in the veterinary medical equipment market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the veterinary medical equipment market.
• Segment Contributions: Evaluate how different segments drive overall growth in the veterinary medical equipment market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the veterinary medical equipment market.
• Industry Challenges: Identify potential risks and obstacles affecting the veterinary medical equipment market.
• Competitive Landscape: Review strategic developments in the veterinary medical equipment market, including expansions, agreements, and new product launches.
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