The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

According to The Business Research Company’s Veterinary Anesthesia Equipment Global Market Report 2024, the veterinary anesthesia equipment market is expected to show promising growth in the forecast period.

The veterinary anesthesia equipment market has witnessed substantial growth, with projections indicating an increase from $0.79 billion in 2023 to $0.85 billion in 2024. This growth is marked by a Compound Annual Growth Rate (CAGR) of 7.7%. The historic period’s growth can be attributed to factors such as increasing pet ownership, the burgeoning livestock industry, and a growing awareness of the importance of pain management in animals.

Historical Growth Drivers

• Increasing Pet Ownership: A rising number of households embracing pets.
• Growing Livestock Industry: Expansion in animal farming and agriculture.
• Awareness of Pain Management: Recognition of the need for enhanced animal well-being.
• Government Support: Funding and support for veterinary research and development.

Anticipated Growth and Influencing Factors
The veterinary anesthesia equipment market is expected to witness strong growth, reaching $1.14 billion by 2028 with a projected CAGR of 7.6%. The forecasted growth is attributed to factors such as increasing veterinary specialization, rising expenditure on pet healthcare, and the globalization of veterinary services.

Forecast Period Dynamics

• Veterinary Specialization: A shift towards specialized veterinary care.
• Pet Healthcare Expenditure: Increased spending on pet health and well-being.
• Globalization of Veterinary Services: Expanding veterinary services across borders.

Emerging Trends
Major trends shaping the forecast period include:

• Advancements in Anesthesia Techniques: Introduction of more sophisticated techniques.
• Minimally Invasive Surgery: Embracing less invasive surgical procedures.
• Smart and Connected Devices: Integration of technology for enhanced monitoring.
• Eco-friendly Anesthesia: Adoption of environmentally conscious practices.
• Customized Anesthesia Plans: Tailoring plans to individual animal needs.

Rising Pet Ownership: A Driving Force
The surge in pet ownership is expected to be a key driver for the continued growth of the veterinary anesthesia equipment market. As more households embrace pets, the responsibilities of pet ownership, including healthcare, become paramount. Veterinary anesthetic equipment plays a crucial role in ensuring the safety of pets during surgical procedures, making it an essential component of responsible pet ownership.

Statistical Insight

• In October 2023, dog ownership was more prevalent, with 65.1 million dogs compared to 46.5 million cats (World Animal Foundation).
• The ownership of horses reached 2.2 million, while 11 million households had saltwater fish tanks.

Key Market Players
Major companies operating in this market include:

• JD Medical
• Midmark Corporation
• Smiths Medical
• Mindray Medical

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Innovations in Veterinary Anesthesia Equipment
To enhance safety and reliability in animal care, manufacturers are investing in innovative features for veterinary anesthesia equipment. The focus is on addressing potential issues such as power failure, battery exhaustion, and electronic component failures. Companies like DRE Veterinary and Supera are introducing anesthesia machines with advanced safety features.

Strategic Initiatives

• Introduction of Safety-Focused Products: Companies investing in features addressing potential equipment failures.

Notable Development

• Ensuring Safety and Reliability: Advances in technology to counter challenges such as power and battery failures.

Market Segmentation for Varied Needs
Understanding the diverse needs of veterinary practices, the veterinary anesthesia equipment market is segmented based on various parameters, including type, animal type, and end-user.

1. Type:
   • Standalone Anesthesia Machines
   • Portable Anesthesia Machines
2. Animal Type:
   • Small Animals
   • Large Animals
3. End User:
   • Veterinary Hospitals
   • Veterinary Clinics
   • Emergency Service Centers
   • Veterinary Homecare Settings

Regional Dominance
In 2023, North America emerged as the largest region in the veterinary anesthesia equipment market, showcasing significant market presence and consumer demand.

In conclusion, the veterinary anesthesia equipment market is poised for robust growth, driven by factors such as the increasing pet ownership trend, innovative advancements, and the globalization of veterinary services. The forecasted trends indicate a future where the well-being of animals is prioritized through advanced anesthesia techniques and environmentally conscious practice

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