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How Has the Veterinary Medical Equipment Market Size Changed, over the years?

The market size for veterinary medical equipment has seen considerable enlargement in the past few years. From $3.42 billion in 2024, it is predicted to augment to $3.69 billion in 2025, exemplifying a compound annual growth rate (CAGR) of 7.9%. The notable expansion during the historic era can be linked to a rise in pet ownership among gen x and gen y adults, along with an upsurge in pet expenditure and increased incidences of diseases.

How Much Will the Veterinary Medical Equipment Market Be Worth in 2029?

The market size for veterinary medical equipment is predicted to experience substantial growth in the coming years, projected to escalate to a value of $4.93 billion in 2029 with a compound annual growth rate of 7.5%. Factors fueling the anticipated growth during this period include rising adoption of pet animals, enhanced efficiency of veterinary procedures through mobile x-ray and ultrasound devices, improved quality of life and a burgeoning middle class, heightened awareness about pet vaccinations, and the legal mandate for microchipping. Key trends projected for this period entail the need for veterinary diagnostic providers to invest in advanced technology for quicker medical diagnoses. Furthermore, the escalating trend of pet adoption will likely boost the market, contributing to the growth of the veterinary equipment market. It’s recommended that veterinary diagnostic service providers embrace molecular biology to facilitate early disease detection, and with wearable tech allowing farmers and vets to monitor vital health stats in animals, investment in these technologies should be considered. To increase the personalization and versatility of veterinary supplies, companies should take advantage of 3D printing technology.

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Which is the Largest Company in the Veterinary 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

What Are the Main Market Drivers in the Veterinary Medical Equipment Industry?

Expectations show that the veterinary medical equipment market will thrive due to a rise in pet ownership. This uptick is largely credited to growing disposable incomes, an increased understanding of the emotional and physical benefits of pet companionship, and societal shifts that position pets as critical members of the family. Pet ownership, essentially the practice of keeping animals for companionship, allows individuals or families to employ veterinary medical equipment like home diagnostic kits and mobile monitoring gadgets. These tools help pet owners manage their pets’ health more effectively, facilitating early illness detection and punctual veterinary care. For example, predictions from the American Veterinary Medical Association, a nonprofit professional organization, in October 2024 indicate an expected increase of dog-owning households in the U.S. by 59.8 million, equivalent to 45.5% of all U.S. households. Concurrently, the number of households owning cats is anticipated to surge by 42.1 million in the same year, representing 32.1% of all U.S. households. Hence, escalating pet ownership is fostering the expansion of the veterinary medical equipment market.

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How Is the Veterinary Medical Equipment Market Segments Structured?

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

What Strategic Trends Are Transforming the Veterinary Medical Equipment Market?

Progress in diagnostic technology has enhanced the quality of veterinary care. Tools like portable x-ray machines and ultrasound scanners have augmented the effectiveness of veterinary assistance, especially in emergency situations caused by injuries for all kinds of animals including large/equine, pets, exotic, and mixed. For instance, animals’ pregnancy tests are being conducted using the Wristscan V9, a diagnostic gadget. Furthermore, the Alivecor application on the iPhone, enables veterinarians to execute electrocardiograms on animals for assessment by cardiologists.

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Which Global Regions Offer the Highest Growth in the Veterinary Medical Equipment 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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This Report Delivers Insight On:

1. How big is the veterinary medical equipment market, and how is it changing globally?

2. Who are the major companies in the veterinary medical equipment market, and how are they performing?

3. What are the key opportunities and risks in the veterinary medical equipment market right now?

4. Which products or customer segments are growing the most in the veterinary medical equipment market?

5. What factors are helping or slowing down the growth of the veterinary medical equipment market?

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