The Global Veterinary Device Market is estimated to be USD 2.02 Bn in 2023 and is expected to reach USD 2.84 Bn by 2028 growing at a CAGR of 7.06%.In July 2020, Trice Medical joined with Dr. Debra Canapp and Dr. Sherman Canapp at Canapp Sports Medicine LLC, to introduce the veterinary portable tablet
Veterinary Device refers to the tools and instruments used by veterinarians in the diagnosis, treatment, and monitoring of animals' health.
The increasing number of pet owners is a major driver of the Veterinary Device market. As more people own pets, veterinary care and equipment demand increases. Moreover, increasing awareness about animal health with the rise of animal welfare organizations and animal rights movements, there is a growing awareness of the importance of animal health. This has led to increased demand for Veterinary Device that can improve animal health and wellness. In addition, advancements in veterinary technology have led to the development of new and more advanced Veterinary Device. This has driven the growth of the Veterinary Device market as pet owners and veterinarians seek out the latest and most effective equipment.
However, the high cost of Veterinary Device can make it difficult for manufacturers to compete with other suppliers of similar equipment. Customers may choose cheaper alternatives, which can limit sales and market share for higher-priced equipment. Veterinary clinics, hospitals, and research facilities may have limited budgets, which can restrict their ability to purchase expensive equipment. This can be particularly challenging for small or independent practices, which may not have the same purchasing power as larger organizations.
On the contrary, as more people in emerging markets become financially stable, they are more likely to own pets. This growing pet ownership trend creates a need for veterinary services and equipment, such as diagnostic tools, surgical instruments, and anesthesia machines. As more people in emerging markets become financially stable, they are more likely to own pets. This growing pet ownership trend creates a need for veterinary services and equipment, such as diagnostic tools, surgical instruments, and anesthesia machines. Many emerging market governments are investing in their animal health sectors to improve animal product quality and prevent disease spread. This creates a demand for Veterinary Device and services and opportunities for international companies to enter these markets and work with local governments to improve animal health.
Market Segmentations
- The Global Veterinary Device Market is segmented based on Product, Animal Type, End-Use, and Geography.
- By Product, the market is classified into Critical Care Consumables, Anesthesia Equipment, Fluid Management Equipment, Temperature Management Equipment, Rescue & Resuscitation Equipment, Research Equipment, and Patient Monitoring Equipment.
- The critical care segment holds the largest share. The increase in the utilization of consumables for numerous applications, including wound care, airway care, gastroenterology, reproduction, and others, can be attributed to the growth.
- By Animal Type, the market is classified into Companion Animals and Livestock animals.
- The companion animal segment holds the largest market share due to the increase in companion animal population and growing emphasis on pet care and wellness by pet owners.
- By End-Use, the market is classified into Veterinary Hospitals/Clinics and Research Institutes.
- Veterinary Hospitals and Clinics segment holds the largest market share. The extensive range of treatment choices offered in veterinary hospitals and clinics is responsible for the growth. The opportunity for segment growth has widened in recent years due to the rules for safety practises and standards that several government animal welfare groups have published.
- By Geography, the market is classified into the Americas, Europe, Middle East & Africa and Asia-Pacific.
- The Americas accounts for the highest market share. The cost of veterinary treatment has significantly increased in the area, which is anticipated to accelerate the market's expansion. Also, the presence of healthcare programs and an increase in the number of activities to enhance animal health are factors that are projected to boost this region's growth potential.
Recent Development
- Covertrus, Inc. entered into an agreement to acquire VCP, a global leader in animal health technology and services - July 2021.
- An integrated wound care company called Axio Biosolutions introduced the SureKlot product line. The business entered the veterinary wound treatment market with this launch. The first all-inclusive veterinary wound treatment solution in India is provided by this cutting-edge wound care line - March 2021.
Company Profiles
The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for the publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are Cardinal Health, Digicare Animal Health, Neogen Corporation, Smiths Medical, Inc. etc.Countries Studied
- America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
- Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
- Middle East and Africa (Egypt, Israel, Qatar, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
- Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)
Competitive Quadrant
The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.Ansoff Analysis
- The report presents a detailed Ansoff matrix analysis for the Global Veterinary Device Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
- The publisher analyses the Global Veterinary Device Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
- Based on the SWOT analysis conducted on the industry and industry players, the publisher has devised suitable strategies for market growth.
Why buy this report?
- The report offers a comprehensive evaluation of the Global Veterinary Device Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
- The research report also provides a detailed market size analysis and projections in volume and value terms. The projections are calculated using verified research methodologies.
- Excel data sheet for the market size will also be provided with the report.
- The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
- The report includes an in-depth market analysis using Porter’s 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 on the market is also featured in the report.
- The report includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
- The report includes Self-Assessment Form, which helps customers evaluate their position in the market compared to their competitors.
- The report offers customized research - tailored uniquely to our customers with a quick turnaround time. We offer a 15% customization option at no extra charge to all our clients for any of our syndicated reports.
Report Highlights:
- A complete analysis of the market, including the parent industry
- Important market dynamics and trends
- Impact Analysis - a comprehensive assessment to confront risk and make strategic & operational decisions to counter the changes in the market environment.
- Market segmentation
- Competitive Analysis: Comparative analysis of competitor
- Historical, current, and projected size of the market based on value and volume
- Market size of the US states
- Market shares and strategies of key players
- Recommendations to companies for strengthening their foothold in the market
Table of Contents
1 Report Description
2 Research Methodology
3 Executive Summary
4 Market Dynamics
5 Market Analysis
6 Global Veterinary Device Market, By Product
7 Global Veterinary Device Market, By Animal Type
8 Global Veterinary Device Market, By End-Use
9 Americas' Veterinary Device Market
10 Europe's Veterinary Device Market
11 Middle East and Africa's Veterinary Device Market
12 APAC's Veterinary Device Market
13 Competitive Landscape
14 Company Profiles
15 Appendix
Companies Mentioned
- Advancis Veterinary
- B. Braun Vet Care GmbH
- BD Animal Health
- Burtons Medical Equipment Ltd.
- Cardinal Health
- Covetrus, Inc.
- Digicare Animal Health
- Digicare Biomedical
- DRE Veterinary
- Grady Medical
- J & J Instruments, Inc.
- Jorgensen Laboratories
- Midmark Corporation
- New Gen Medical Systems
- Nonin Medical, Inc.
- RWD Life Science Co., Ltd.
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
- Smiths Medical, Inc.
- Vetland Medical Sales and Services
- Vetronic Services Ltd.
