Veterinary equipment and disposables are medical equipment that are used in diagnosis, treatment and monitoring of various health conditions related to animals. Veterinary equipment and disposables include medical apparatus, and disposable devices that are typically used for infection control. Various types of veterinary equipment and disposables are available in the market including but not limited to critical care consumables, temperature management equipment, anesthesia equipment and pet monitoring equipment.
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Increasing expenditure on animal health and rising demand for companion animals continue to fuel the growth of the Veterinary Equipment and Disposables Market. Sales of veterinary equipment and disposables are likely to witness steady growth on the back of increasing research in animal health coupled with rising research grants. Macroeconomic factors such as economic growth and rising GDP per capita are also impacting the veterinary equipment and disposables sales, in turn offering prospective growth for the veterinary equipment and disposables market.
Manufacturers of veterinary equipment and disposables can expect a volley of opportunities in the forthcoming years on the back of significantly growing research and development expenditure in veterinary healthcare space. Apart from rising GDP per capita, technological advances have pushed investment in R&D sector. According to AHI (Animal Health Institute), around 10 to 12 percent of total sales of member companies of AHI invest in new developments, research and innovations in veterinary equipment and disposables and animal healthcare every year. Likewise, IFAH (International Federation for Animal Health) revealed that in 2017 more than 400 million euros were invested in animal healthcare, which provided an impetus to the sales of veterinary equipment and disposables. This factor is expected to trigger growth of the veterinary equipment and disposables market in the years to follow.
Albeit favorable market conditions for veterinary equipment and disposables, main aspect likely to impede the growth of the veterinary equipment and disposables market is availability of skilled personnel. According to AVMA (American Veterinary Medical Association), in 2016, around 30 programs were shut owing to lack of personnel. In addition, high cost associated with veterinary equipment and disposables are likely to confine growth of the veterinary equipment and disposables market during the forecast period.
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Veterinary Equipment and Disposables Market: Regional Outlook
The veterinary equipment and disposables market is likely to witness a positive outlook in the emerging economies of Asia Pacific owing to increasing awareness regarding animal health, animal diseases and rising livestock population. In addition, sales of veterinary equipment and disposables in Asia Pacific are influenced by growing adoption of coupled with increasing veterinary professionals. Veterinary equipment and disposables market in developed countries is also likely to surge in the coming years with rising pet adoption and higher GDP per capita of developed economies. For instance, APPA (American Pet Products Association) revealed that around 90 million dogs are owned in the US. Favorable government reforms and stringent regulations regarding use of veterinary equipment and disposables across emerging and developed regions worldwide are expected to impact the demand and sales of veterinary equipment and disposables.
Veterinary Equipment and Disposables: Key Market Players
The report on veterinary equipment and disposables market includes detailed assessment on key players operating in the veterinary equipment and disposables space. Vital facets of veterinary equipment and disposables manufacturers including SWOT analysis, product portfolios, business outlook, strategies and financials are covered in the veterinary equipment and disposables market report. Few of the companies profiled in the veterinary equipment and disposables market report include: Smiths Group, Henry Schein, Braun, Dre Veterinary, Midmark, Jorgenson Laboratories, Mindray Medical, Nonin Medical, Vetland Medical, Digicare Biomedical, Hallowell EMC, Grady Medical, Mila International, Burtons Medical
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