The Road Ahead for the Veterinary Anesthesia Equipment Market: Key Growth Trends and Opportunities to Watch
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What CAGR is Anticipated for the Veterinary Anesthesia Equipment Market During the Forecast Period, and Why?
There has been a significant expansion in the market size of veterinary anesthesia equipment in the past few years. The market, which was valued at $1.1 billion in 2024, is projected to increase to $1.19 billion in 2025 with a compound annual growth rate (CAGR) of 8.1%. Factors contributing to this growth during the historical period include the rise in pet ownership, expansion of the livestock sector, increasing instances of chronic illnesses in pets, heightened awareness about the critical role of pain management in animals, more demand for quality treatments aimed at improving animals’ lives, and government backing for research and development in the veterinary field.
The market for veterinary anesthesia equipment is predicted to experience robust expansion in the forthcoming years, with its value expected to reach $1.6 billion in 2029, generating a compound annual growth rate (CAGR) of 7.6%. This anticipated growth during the forecast period is likely due to factors such as enhanced veterinary specialization, escalating pet healthcare costs, increasing emphasis on animal pain management, and the expanding globalism of veterinary services. Key trends expected during this period include advances in anesthesia methods, less invasive surgical procedures, smart and interconnected devices, environmentally friendly anesthesia options and individualized anesthesia plans.
Which Drivers Are Expected to Have the Greatest Impact on the Veterinary Anesthesia Equipment Market’s Growth?
The expansion of the veterinary anesthesia equipment market in the future years is anticipated to be fueled by a surge in pet ownership. Keeping a domesticated animal like a cat, dog, bird, fish or a similar small creature, and meeting its needs defines pet ownership. The duties involved in pet ownership encompass providing nourishment, water, shelter, physical exertion, and health services to the animal. The safety of pets during surgical procedures is ensured by veterinary anesthesia equipment, making it crucial to pet ownership. As pet numbers increase, the demand for veterinary anesthesia equipment is projected to escalate. For example, dog ownership was significantly higher in October 2023, with 65.1 million dogs versus 46.5 million cats, as per the World Animal Foundation, an organization based in the US advocating animal rights, responsible pet ownership, and sensitive awareness. There are 2.2 million horses owned by horse owners and 11 million homes possess saltwater fish tanks. Consequently, the increase in pet ownership is catalyzing the growth of the veterinary anesthesia equipment market.
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Which Companies Are Poised to Shape the Future of the Veterinary Anesthesia Equipment Market?
Major companies operating in the veterinary anesthesia equipment market include JD medical, Midmark Corporation, Smiths medical, Mindray Medical, Kent Scientific, Everest Veterinary Technology, Dispomed Ltd., Henry Schein Company, Mediquip, Patterson Scientific, DRE Veterinary, Beijing Yei Shinhang electronic technology, Vetronic Services LTD, Synthomer plc, Hallowell Engineering, Manufacturing corporation, Supera innovations, Vetland Medical, Synthomer plc., General Electric, BPL limited, Penlon Limited, Tenessee anaesthesia, CRH medical, Jorgensen Laboratories LLC, VetEquip Inc., Mds Medical Limited, Advanced Anesthesia Specialists, SurgiVet, Hallowell Engineering & Manufacturing Corporation, Supera Anesthesia Innovations, Burtons Medical Equipment Ltd, Cattani S.p.A., Eickemeyer Veterinary Equipment Inc., Jørgen Kruuse A/S, Patterson Veterinary Supply Inc., Henry Schein Animal Health Inc., ICU Medical Inc.
What Are the Latest Trends Leading to Disruption in the Veterinary Anesthesia Equipment Market?
Producers of veterinary anesthesia equipment must comply with strict rules enforced by several regulatory authorities. For example, the market for veterinary devices in the USA is overseen by the US Food and Drug Administration’s (FDA) Center for Veterinary Medicine (CVM). The FDA provides instructions on the manufacturing, procurement, packaging, branding, retail, and application of medical instruments. Furthermore, the FDA advocates for veterinarians and pet owners to report any issue they observe in veterinary medical equipment.
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What Are the Major Segments of the Veterinary Anesthesia Equipment Market and Their Role in Driving Growth?
The veterinary anesthesia equipment market covered in this report is segmented –
1) By Type: Standalone Anaesthesia Machines, Portable Anaesthesia Machines
2) By Animal Type: Small, Large
3) By End User: Veterinary Hospitals, Veterinary Clinics, Emergency Service Centres, Veterinary Homecare Settings
Subsegments:
1) By Standalone Anesthesia Machines: Conventional Standalone Anesthesia Machines, Advanced Standalone Anesthesia Machines
2) By Portable Anesthesia Machines: Battery-operated Portable Anesthesia Machines, Lightweight Portable Anesthesia Machines
What Regions Are Contributing Significantly to the Growth of the Veterinary Anesthesia Equipment Market?
North America was the largest region in the veterinary anesthesia equipment market in 2023. Asia-Pacific was the second-largest region in the global veterinary anesthesia equipment market share. The regions covered in the veterinary anesthesia equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Key Elements Shape the Definition of the Veterinary Anesthesia Equipment Market?
Veterinary anesthesia equipment refers to a type of device or instrument that is composed of a number of components that work together to support breathing and safely deliver inhalant anesthetic agents into patients’ bodies to prevent pain or discomfort during surgical procedures.
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