The major players in the veterinary disposables and equipment market are Medtronic, Henry Schein, Inc., DRE Veterinary, 3M, Jorgensen Labs, Midmark Corporation, Smiths Group plc, Shenzhen Mindray Bio-Medical Electronics Co., B. Braun Melsungen AG
Pune, India, Aug 24, 2021 (GLOBE NEWSWIRE) – According to a research review published by Nature, around 2 lakh dogs in the UK suffer from appendicular osteoarthritis each year, which is a key factor fueling demand for equipment veterinary and disposables in the area. Veterinary equipment and consumables encompass different types of medical devices intended to aid in the diagnosis and treatment of health problems in animals. Sales of veterinary equipment and disposables are expected to increase due to increased animal health research and increased research grants. According to the International Federation for Animal Health (IFAF), around € 400 million was invested in animal health in 2017.
This further led to the increase in sales of veterinary equipment and disposables, increasing the income of the veterinary equipment and disposable products market. Several companies are considering adopting big data technologies for proper veterinary care. Using big data, veterinarians can predict diseases affecting animal health. Additionally, several companies are investing in wearable technologies to track and monitor animal health. For example, Vital Herd has developed electronic pill technology, which can track critical health conditions such as body temperature or heart rate in pets. Such innovations are expected to drive the growth of the veterinary equipment and disposable products market in the coming years.
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Fortune Business Insights provides a detailed overview of the global Veterinary Equipment and Consumables Market in a report titled “Veterinary Equipment and Consumables Market Size, Share and Global Trend by Animal Type (Pet, Livestock), By Product Type (Critical Care Consumables, Anesthesia Equipment, Fluid Management Equipment, Temperature Management Equipment, Rescue and Resuscitation Equipment), by End User (Veterinary Hospitals, Veterinary Surgery Centers) and Forecast geographies till 2026. The report gives an overview of the current scenario and future prospects of the Veterinary Equipment and Consumables market. The report offers a detailed study about the market growth and size of all segments. The market is witnessing the various growth opportunities and trends that will help our readers to stay up to date. Further, the report offers a detailed analysis of the competitive landscape and market dynamics.
Depending on the type of animal, pets are expected to cover a significant percentage of the veterinary equipment and disposables market share by 2026. Growth is driven by increasing adoption of companion animals and awareness raising animal health in animal owners. The use of different types of products such as anesthesia, fluid management, intensive care, temperature management, among others, is expected to increase in different countries. This, in turn, is likely to boost the market share of veterinary equipment and disposables.
Quick Buy – Veterinary Disposable Equipment and Products Market
North America leads the world market
Among the regions, North America is expected to dominate the global veterinary equipment and disposables market during the forecast years. Rising pet adoption and animal health expenditure are factors that are contributing to the growth of the market. In addition to this, the implementation of favorable health insurance policies and the growing emphasis on vacations with pets are expected to drive the market in North America. According to the Pet Health Insurance Association in North America, the pet health insurance industry accelerated with premiums, crossing one billion US dollars in 2017. After North America, the market in Europe is expected to develop at a substantial rate over the forecast horizon.
The veterinary equipment and consumables market in Asia-Pacific is expected to grow at a tremendous rate owing to the increasing prevalence of veterinary and zoonotic diseases. Besides Asia-Pacific, Latin America is also expected to experience growth in the forecast years.
An overview of the impact of COVID-19 on this market:
The emergence of COVID-19 has crippled the world. We understand that this health crisis has had an unprecedented impact on businesses in all sectors. However, that too will pass. Growing support from governments and several companies can help fight this highly contagious disease. Some industries are struggling and others are thriving. Overall, almost all sectors are expected to be affected by the pandemic.
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Merger of Henry Schein Animal Health and Vets First Choice to create a new brand “Covetrus”
According to the report, some of the major players operating in the global veterinary equipment and consumables market include:
Several companies are considering adopting strategies such as mergers and acquisitions, agreements, partnerships and others to stay ahead of the competition. For example, Vets First Choice and Henry Schein Animal Health merged and opened a new company. The companies created a new brand called Covetrus and the merger took place in the first quarter of 2019.
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