Global Veterinary Equipment And Supplies Market Size
Veterinary Healthcare

5 Takeaways From The Veterinary Equipment And Supplies Market Overview 2024

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 Equipment And Supplies Global Market Report 2024, the veterinary equipment and supplies market is expected to show promising growth in the forecast period.

Market Overview

  • Strong growth observed in recent years.
  • Expected to reach $2.12 billion in 2024 with a CAGR of 8.2%.
  • Forecasted to grow to $2.91 billion in 2028 with a CAGR of 8.3%.
  • Major trends include demand for point-of-care testing and specialized consumables.

Driving Forces Behind Growth
Rising Prevalence of Animal Diseases

  • Diseases such as osteoarthritis are on the rise due to increasing pet obesity.
  • Veterinary equipment aids in diagnosis and treatment.
  • Major companies include Zoetis Inc., B. Braun Vet Care GmbH, and Covetrus Inc.

Technological Advancements in Veterinary Equipment

  • Companies focus on developing innovative solutions to strengthen market position.
  • Zoetis launched Vetscan Mastigram+ for rapid mastitis diagnosis in June 2023.
  • Mindray’s acquisition of HyTest in September 2021 bolsters veterinary diagnostic equipment portfolio.

Mindray’s Acquisition of HyTest

  • Mindray gains R&D capabilities and enhances competitive edge.
  • HyTest, a Finland-based company, specializes in veterinary diagnostic equipment.

Market Segmentation

  1. By Type: Critical Care Consumables, Anesthesia Equipment, Fluid Management Equipment, etc.
  2. By Animal Type: Small Companion Animals, Large Animals
  3. By End User: Veterinary Clinics, Veterinary Hospitals, Research Institutes

Regional Outlook

  • North America led the market in 2023.
  • Growth opportunities exist in regions worldwide due to the increasing focus on pet health.

In conclusion, the veterinary equipment and supplies market is witnessing robust growth driven by factors such as the rising prevalence of animal diseases and technological advancements in diagnostic equipment. Major players are investing in research and development to introduce innovative solutions catering to the evolving needs of veterinary clinics and hospitals. Strategic acquisitions further enhance companies’ capabilities and market presence. As pet owners become increasingly aware of preventive healthcare measures, the demand for advanced diagnostics and specialized services is expected to rise, creating significant opportunities for stakeholders in the veterinary equipment and supplies sector.

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