Veterinary Equipment and Disposables Market Overview:
The global market report covering veterinary equipment and disposables market stands at a position where the growth with a CAGR of 14.70% is possible and it would help in the market in achieving a valuation of USD 1.63 billion between 2018 and 2023. Market Research Future (MRFR) takes this time period as the forecast period for the market and studies all the details accordingly.
The global market has high growth potential as the surge in the zoonotic diseases is raising eyebrows. Funds are getting channeled to ensure that research and development mark better growth. It is also getting traction from the increasing number of pet insurance that is providing people with better opportunities to treat their pets. In addition, various animal welfare organizations are launching in campaigns to ensure a better growth rate for the market. Current players have formed several strategies and it is also witnessing the boons of new entrants as the market is becoming competitive.
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Veterinary Equipment and Disposables Market Segmentation
The global market report on the veterinary equipment and disposables can find a better scope for understanding with proper segmentation. These segments are animal type, type, and end user.
By type, the global market for veterinary equipment and disposables can be segmented into anesthesia equipment, critical care consumables, research equipment, temperature management equipment, fluid management equipment, and rescue & resuscitation equipment. The critical care consumables segment encompasses gastroenterology consumables, wound management consumables, airway management consumables, fluid administration & therapy consumables, needles, and others. The anesthesia equipment segment comprises ventilators, gas delivery management systems, anesthesia machines, waste gas management systems, vaporizers, and others. The research equipment segment includes lab evacuation systems and induction chambers. The rescue and resuscitation equipment segment covers resuscitation bags and oxygen masks.
By animal type, the global market for veterinary equipment and disposables can be segmented into small animals and large animals.
By end user, the global market report on the veterinary equipment and disposables envelops research institutes, veterinary hospitals, veterinary clinics, and others.
Veterinary Equipment and Disposables Market Regional Analysis
The market in the Americas has a better chance to dominate the global market for veterinary equipment and disposables. This is due to better structural provisions, high expenditure for research & development, increasing innovation, rising per capita income, and others. Several countries like the US and Canada are going to promote growth. These two countries are known for their superlative market presence and can inspire better growth.
Europe would likely retain its second position in the global market for veterinary equipment and disposables. This regional growth would depend much on the healthcare system and better provision for the insurance coverage for pets. The rise in the number of doctors for these pets is also rising, which can provide better growth opportunities for the market. In the Asia Pacific region, the global market for veterinary equipment and disposables can find a significant rise from the propelling effect of the Indian market. The regional market would be the fastest in terms of growth. Various animal welfare organizations are playing in favor of the market, which can promote growth. The Middle East & Africa (MEA) can find better growth opportunities as the number of pet owners is rising in the region.
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Veterinary Equipment and Disposables Market Competitive Landscape:
The global market for veterinary equipment and disposables market can be taken into consideration with an assessment of various market players. MRFR has included this to get a comprehensive picture of the entire market and understand how the market is going to shape up in the coming years. These companies are DRE Medical, B. Braun Melsungen AG, Henry Schein, Digicare Biomedical Technology Inc., Medtronic, Midmark Corporation, Jorgensen Labs, Smiths Group plc, Patterson Companies, Inc., and Vetland Medical Sales & Services. Extensive steps like mergers, acquisitions, tie-ups, and others can inspire better growth for the market.