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(CityRegions.Com, September 23, 2020 ) According to the new market research report "Veterinary Equipment and Disposables Market by Product (Consumables, Anesthesia Machines, Ventilators, Patient Monitoring, Oxygen Masks, Infusion Pumps), Animal (Cats, Dogs, Equines, Bovines), End User (Hospitals, Clinics) - Global Forecast" published by MarketsandMarkets™.
The veterinary equipment and disposables market is expected to reach USD 2.40 Billion by 2023 from USD 1.63 Billion in 2018, at a CAGR of 8.0% during the forecast period
Market Dynamics:
Growth in the companion animal population;
The adoption of companion animals has grown globally due to the positive health benefits associated with them—reduced cardiac arrhythmias, normalization of blood pressure, decreased anxiety, greater psychological stability, and improved wellbeing. According to the APPA National Pet Owners Survey 2017–2018, the canine population in the US increased from 69.9 million in 2012 to 89.7 million in 2016, while the feline population increased from 74.05 million in 2012 to 94.2 million in 2016. According to the European Pet Food Industry Federation (FEDIAF), the canine population in Germany increased from 5.30 million in 2012 to 8.66 million in 2016, whereas the feline population increased from 8.20 million in 2012 to 13.40 million in 2016.
Emerging markets such as Brazil, China, India, and Mexico are also witnessing growth in animal ownership. According to the India International Pet Trade Fair (IIPTF), the number of pets increased from 11 million in 2014 to 15 million in 2016. Approximately 600,000 pets are adopted every year in India. Such trends are expected to support the growth of the animal health industry, which, in turn, will drive the growth of dependent industries such as veterinary equipment market and veterinary disposables market.
Browse 304 market data Tables and 32 Figures spread through 265 Pages and in-depth TOC | Request Research Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=14169630
The rescue and resuscitation segment is expected to grow the fastest in the veterinary equipment market during the forecast period.
Based on type, the veterinary disposables market consists of critical care consumables used for the treatment of animals. It accounted for the largest share in the market in 2017. The large share of consumables can be attributed to a large number of consumables used with single capital equipment, and their high utilization in almost every veterinary care provided ranging from wound management to fluid therapy. The veterinary equipment market is segmented as anesthesia equipment, temperature management equipment, rescue & resuscitation equipment, fluid management equipment, research equipment, and patient monitoring equipment. Amongst these, the rescue and resuscitation segment in expected to grow the fastest during the forecast period.
Geographical Regions Mapped in Report:
North America is estimated to hold the largest share of the veterinary equipment and disposables market during the forecast period, followed by Europe and the Asia Pacific. Factors such as the increasing number of companion animals, rising companion animal healthcare expenditure, rise in the number of livestock animals in North America (primarily due to the increasing consumption of meat and dairy products), and growth in the pet insurance market are responsible for the region’s large share in the global veterinary equipment and disposables market.
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The prominent players in the veterinary equipment and disposables market are Mindray Medical International Limited (China), Smiths Group plc (UK), Nonin Medical (US), Digicare Biomedical Technology, Inc. (US), B. Braun Melsungen AG (Germany), Henry Schein (US), Vetland Medical Sales and Services, LLC (US), Hallowell Engineering & Manufacturing Corporation (US), Infiniti Medical, LLC (US), DRE Veterinary (US), and Midmark Corporation (US).
MarketsandMarkets™
Mr. Aashish Mehra
1-888-600-6441
raviraj.tak@marketsandmarkets.com
Source: EmailWire.Com 
Source: EmailWire.com
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