2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!

What Are the Primary Drivers Supporting the Market Growth of theVeterinary Medical Equipment Market?

The veterinary medical equipment market is likely to grow due to an increase in pet ownership. The surge in pet ownership can be attributed to an increase in disposable income, growing awareness of emotional and physical benefits of keeping pets, and the evolving societal viewpoint that considers pets as an essential part of the family. The term pet ownership entails the habit of individuals or families owning pets or companion animals. The use of veterinary medical equipment like home diagnostic kits and portable monitoring devices by pet owners allows them to take better care of their pets’ health by aiding in early illness detection and guaranteeing prompt veterinary attention. As reported by the American Veterinary Medical Association, a non-profit professional body, in October 2024, the number of dog owners in the U.S. is projected to raise by 59.8 million in 2024, which is 45.5% of all American households, while the figure for cat owners has grown by 42.1 million in 2024, accounting for 32.1% of the total U.S. households. As such, the uptick in pet ownership is fueling the expansion of the veterinary medical equipment market.

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#What is the Growth Potential of the Veterinary Medical Equipment Market, and How Will It Perform by 2034?

The increase in the market size associated with veterinary medical equipment has been significant in the past, and it is predicted to continue its upward trend. The market size is projected to rise from a value of $3.42 billion in 2024 to $3.69 billion in 2025, signifying an impressive compound annual growth rate (CAGR) of 7.9%. The historical growth in this sector can be credited to factors such as the rise in pet ownership among Gen X and Gen Y adults, increased expenditure on pets, and a higher prevalence of diseases.

In the coming years, the veterinary medical equipment market is predicted to witness robust growth, steadily expanding to $4.93 billion by 2029 at a 7.5% compound annual growth rate (CAGR). This growth in the projected period will primarily be fuelled by factors such as the adoption of companion animals, the enhanced effectiveness of veterinary treatment through portable x-rays and ultrasound scanners, an elevated standard of living and a growing middle class, as well as a heightened awareness of pet vaccinations and the legal necessity for microchipping. Significant trends for the forecast period include the need for veterinary diagnostic providers to invest in advanced technology to ensure quicker diagnosis of medical conditions. The escalating adoption of companion animals will help to propel the market forward and foster growth in the veterinary equipment market. It is advised that veterinary diagnostic service providers incorporate molecular biology in their practices for early disease detection. Given that wearable technologies allow both farmers and veterinarians to monitor crucial health parameters in pets and animals, they should contemplate allocating funds for these innovative technologies. Additionally, companies should take advantage of 3D printers to ensure the versatility and customization of veterinary supplies.

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What Are the Latest Innovations Influencing theVeterinary Medical Equipment Market?

Veterinary services have seen enhancements due to progress in diagnostic tools. Portable x-ray and ultrasound scanners are among the equipment that has greatly streamlined veterinary care, particularly in emergency scenarios related to injuries for all classes of creatures – large or equine, companion, exotic, and mixed animal practices. The Wristscan V9 diagnostic tool, for instance, is now used for conducting animal pregnancy tests. Furthermore, animal electrocardiograms are now feasible through the Alivecor iPhone app, which allows for cardiologist evaluations.

Who Are the Major Industry Players Accelerating Growth in theVeterinary Medical Equipment Market?

Major companies operating in the veterinary medical equipment market include Covetrus Inc., IDEXX Laboratories Inc., Integra LifeSciences Corporation, Mindray Medical International Limited, Midmark Corporation, Smiths Group plc, Carestream Health, Agfa-Gevaert Group, Nonin Medical, B. Braun Vet Care GmbH, Risol International Industrial Co., Limited, Guangzhou Medsinglong Import & Export Co., Ltd., Arosol Chemicals Private Limited, Applied Bio Diagnostics Private Limited, Zoetis, Elanco, Merck Co. Inc, Vetpak, Agilis Ltd, Eickemeyer, Vetlabsupplies, Burtons, Virbac, Avz Animal Health, Dixion, Vic Group, Vetmarket, Draminski, Chifa, Ogena Solutions, Axiom Medical Inc, Carolina Scales Inc, Cenogenics Corp, Renco Corporation, Gervetusa Veterinary Surgical Instruments, X-Cel X-Ray Corp, Surgitel, Div. Of General Scientific Corp, Spectrum Chemical Mfg. Corp, Boston Medical, Enso Doctors, Medical Coaches Inc, Lab Oratorio Proagro S.A., Vesalius Pharma Ltd., Apilab Srl, Ceba, Centrovet, Hoppner Vet, Instituto Veterinario Uruguay S.A, Interchem Ltda, Saudi Pharmaceutical Industries (Spi), Bimeda Chemicals Limited, DBK Pharma S.A.E., MSD Animal Health South Africa, Ceva Animal Health (Pty) Ltd

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Which Primary Segments of the Veterinary Medical Equipment Market Are Driving Growth and Industry Transformations?

The veterinary medical equipment market covered in this report is segmented –

1) By Type: Veterinary Diagnostic Equipment, Veterinary Anesthesia Equipment, Veterinary Patient Monitoring Equipment, Other Veterinary Medical Equipment

2) By Product: Instruments/Equipment, Disposables

3) By Animal Type: Small Companion Animals, Large Animals, Other Animals

4) By End User: Veterinary Hospitals, Veterinary Clinics, Research Institutes

Subsegments:

1) By Veterinary Diagnostic Equipment: X-Ray Systems, Ultrasound Systems, Magnetic Resonance Imaging (MRI) Systems, Computed Tomography (CT) Scanners, Endoscopy Devices

2) By Veterinary Anesthesia Equipment: Anesthesia Machines, Ventilators, Vaporizers, Gas Delivery Management Systems, Waste Gas Management Systems

3) By Veterinary Patient Monitoring Equipment: ECG Monitors, Blood Pressure Monitors, Respiratory Monitors, Temperature Monitors, Multiparameter Monitors

4) By Other Veterinary Medical Equipment: Surgical Instruments, Infusion Pumps, Dental Equipment, Laboratory Equipment

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Which Regions Are Key Players in the Growth of the #What Are the Primary Drivers Supporting the Market Growth of theVeterinary Medical Equipment Market?# Market?

North America was the largest region in the veterinary medical equipment market in 2024. Asia-Pacific was the second-largest region in the veterinary medical equipment market. The regions covered in the veterinary medical equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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