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Veterinary Ventilators Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023-2028)

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  • 110 Pages
  • April 2023
  • Region: Global
  • Mordor Intelligence
  • ID: 4997432
The veterinary ventilator market is projected to register a CAGR of 6.01%% during the forecast period.

The market observed a short-term negative impact due to the COVID-19 pandemic. Visits to veterinary hospitals and clinics decreased during the initial phase of the pandemic. This led to a decrease in disease diagnoses for pets and hampered the growth of the market. However, after lockdowns were lifted, disease diagnosis for animals resumed a steady pace, with a high risk of pneumonia among animals. For instance, according to an article published in PetMD in April 2022, bacterial pneumonia is common among puppies, seniors, and immune-compromised dogs. As per the source above, a dog can be at risk of viral or fungal pneumonia if they reside in shelters, long-term boarding, daycare, or dog parks. Thus, the burden of pneumonia among animals increases the demand for veterinary ventilation. Veterinary hospitals and clinics continue the treatment for respiratory distressed pets, which contributes to market growth. Hence, the COVID-19 pandemic had a significant impact on the market studied.

Factors such as growing animal health expenditure worldwide, increasing number of animal surgeries, and growing prevalence of veterinary diseases are major factors contributing to the growth of the market studied.

Diseases, such as lung diseases (pneumonia, acute respiratory distress syndrome, pulmonary contusions following trauma, and congestive heart failure), tick paralysis, myasthenia gravis, and others, are generally managed with mechanical ventilation. According to an article published by MSD in October 2022, inflammation of the pulmonary parenchyma, or pneumonia, causes breathing problems and is common in animals, such as dogs and cats.As per the same source, despite being rare, canine (dogs) tuberculous pneumonia occurs more frequently than in feline (cats) cases. Mycotic granulomatous pneumonia is more common in dogs than in cats, while in cats, cryptococcal pneumonia is reported more. Thus, the occurrence of various diseases among animals requires ventilation for treatment, creating demand for veterinary ventilation, which is expected to fuel market growth.

Tick paralysis is one of the most common reasons for emergency veterinary admissions for companion animals, and the treatment requires ventilation. An article published in PCBI in February 2022 mentioned that tick-borne diseases constitute a variety of debilitating conditions for pet dogs and cats. As per the same source, thousands of pet or domestic dogs are admitted to veterinary clinics due to tick paralysis for emergency treatment every year in Australia. Thus, the high burden of tick paralysis among the target veterinary population creates a high demand for ventilation for treatment, further driving the growth of the market studied.

The market is expected to witness growth over the forecast period due to the factors mentioned above. However, the lack of skilled professionals andnfrastructure in developing and underdeveloped countries are predicted to hamper market growth.

Veterinary Ventilators Market Trends

Mechanical Ventilators are Expected to Witness Significant Growth

Mechanical ventilators are used to provide respiratory support to animals who are unable to maintain ventilation or oxygenation on their own. It is applied to treat a wide range of diseases. Even though no health condition can be cured by mechanical ventilation, it is used to support lung function while the underlying issue is being treated. Mechanical ventilators are used widely due to their advantages, which is expected to contribute to the growth of the segment.

According to the UFH 2022 update, animals are usually sedated during the procedures, which allows animals with severe lung disease to breathe easily. This is one of the major advantages of mechanical ventilation. As per the same source, the prognosis for veterinary patients receiving mechanical ventilation is much better. These advantages of mechanical ventilation create opportunities for innovations and technological advancements in equipment and are expected to fuel the segment’s growth.

Studies that were conducted using mechanical ventilation resulted in positive outcomes for pet animals. In a research article published in VRC in January 2022, it was mentioned that hypoxemia, severe or progressive hypercapnia (partial arterial pressure of carbon dioxide), excessive work of breathing, and severe circulatory shock are the four main indications for mechanical ventilation in small animals. And in some cases when respiratory muscle weakness or paralysis occurs, severe hypoventilation can develop, which further creates the need for mechanical ventilation. Such instances create further demand for mechanical ventilators, thereby driving the segment’s growth.

Therefore, owing to the factors mentioned above, the segment studied is expected to witness significant growth over the forecast period.

North America is Anticipated to Witness Growth

The United States is expected to retain its significant market share among other countries in North America. Factors such as a rise in insured pets and increasing per capita animal healthcare expenditure propel the growth of the market in the country. The growing trend of insurance for pet animals in the United States is predicted to propel market growth. For instance, as per the NAPHIA 2022 report update, 4.41 million pets were insured in North America at the end of 2021. The average monthly cost of pet insurance was USD 50 for dogs and USD 28 for cats for plans that cover accidents and diseases. Moreover, as per APPA 2022 updated report, USD 123.6 billion was spent on pets in the United States in 2021, which increased from around USD 99.0 billion in 2020. High expenditures by pet owners create a demand for better treatment options for pet animals. This is further anticipated to create opportunities for veterinary ventilators, thereby driving the market growth.

Pett ownership and the expenditure on pet health increased recently in other countries in the region, such as Canada and Mexico. The data published by “Pet Keen” in May 2022 shows that pet owners in Canada spend more money on their pets than before. As per the same source, 17% of pet owners in Canada are willing to spend more than USD 500 every year for pet healthcare. There is also a rise in diseases among the veterinary population. This increases expenditures by pet parents, which is expected to drive the demand for veterinary ventilators, thus driving the market growth.

Therefore, the aforementioned factors are attributed to the growth of the studied market in North America, which is anticipated to continue over the forecast period.

Veterinary Ventilators Market Competitor Analysis

The veterinary ventilators market is moderately competitive with local and regional players. Market players focus on new product launches, product innovations, and geographical expansions. A few key market players include Avante Animal Health (DRE Veterinary), Miden Medical, Midmark Corporation, ICU Medical, Inc. (Smiths Medical), Vetronic Services Ltd, Hallowell EMC, VetEquip Inc., Metan Co., Ltd, RWD Life Science Co., LTD, Eickemeyer, VetEquip Incorporated, and MINERVE Veterinary Equipment, among others.

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  • The market estimate (ME) sheet in Excel format
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Table of Contents

1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Expenditure on Animal Health
4.2.2 Increasing Number of Animal Surgeries and Growing Prevalence of Veterinary Diseases
4.3 Market Restraints
4.3.1 Lack of Skilled Professionals
4.3.2 Lack of Infrastructure in Developing and Under-developed Countries
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Product
5.1.1 Electro-Pneumatic Ventilators
5.1.2 Mechanical Ventilators
5.1.3 Other Products
5.2 By End-User
5.2.1 Veterinary Hospitals
5.2.2 Veterinary Clinics
5.3 Geography
5.3.1 North America United States Canada Mexico
5.3.2 Europe Germany United Kingdom France Italy Spain Rest of Europe
5.3.3 Asia-Pacific China Japan India Australia South Korea Rest of Asia-Pacific
5.3.4 Middle East and Africa GCC South Africa Rest of Middle East and Africa
5.3.5 South America Brazil Argentina Rest of South America
6.1 Company Profiles
6.1.1 Avante Animal Health (DRE Veterinary)
6.1.2 Miden Medical
6.1.3 Midmark Corporation
6.1.4 ICU Medical, Inc. (Smiths Medical)
6.1.5 Vetronic Services Ltd
6.1.6 Hallowell EMC
6.1.7 VetEquip Inc.
6.1.8 Metan Co. Ltd
6.1.9 RWD Life Science Co. LTD
6.1.10 Eickemeyer
6.1.11 VetEquip, Incorporated
6.1.12 MINERVE Veterinary Equipment

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Avante Animal Health (DRE Veterinary)
  • Miden Medical
  • Midmark Corporation
  • ICU Medical, Inc. (Smiths Medical)
  • Vetronic Services Ltd
  • Hallowell EMC
  • VetEquip Inc.
  • Metan Co., Ltd
  • RWD Life Science Co., LTD
  • Eickemeyer
  • VetEquip, Incorporated
  • MINERVE Veterinary Equipment