Discover trends, market shifts, and competitive outlooks for the veterinary medical equipment industry through 2025-2034 with The Business Research Company’s reliable data and in-depth research

#What Are the Key Projections for the CAGR of the Veterinary Medical Equipment Market Size From 2025 to 2034?

The market size of veterinary medical equipment has significantly expanded in the past years. It is anticipated to increase from $3.42 billion in 2024 to $3.69 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 7.9%. The surge in growth during the historical period is linked to rising pet ownership among gen x and gen y adults, enhanced expenditure on pets, and a rise in disease occurrences.

Anticipated to experience substantial growth over the next few years, the veterinary medical equipment market is projected to expand to $4.93 billion by 2029, boasting a compound annual growth rate (CAGR) of 7.5%. The escalation during this forecasted period can be credited to factors such as the surge in companion animal ownership, the enhancement of veterinary treatments through portable x-ray and ultrasound devices, improved living standards coupled with a fortified middle class, heightened awareness about pet vaccinations and the legal mandate of microchipping. The forecast period is also likely to see crucial trends emerging in the market. These include the need for veterinary diagnostic providers to invest in advanced technologies to accelerate medical diagnoses, a surge in companion animal adoption driving market growth, the further buildout of the veterinary equipment market, the need for veterinary diagnostic service providers to incorporate molecular biology for early disease detection, the advisable investment in wearable technologies that allow farmers and veterinarians to monitor crucial health parameters in pets and other animals, and the advantage companies could gain from using 3D printers for creating customizable and versatile veterinary supplies.

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What Are the Core Market Drivers Propelling Growth in the Veterinary Medical Equipment Industry?

The veterinary medical equipment market is projected to grow due to the rising number of pet owners. This trend is largely fuelled by increased disposable income, growing understanding of the emotional and physical advantages of owning a pet, and shifting societal norms that regard pets as key members of the family. The term pet ownership pertains to individuals or households that keep animals for companionship. The use of veterinary medical equipment by pet owners, including home diagnostic kits and portable monitoring devices, allows for better management of their pets’ well-being, enabling early illness detection and appropriate veterinary attention. For example, the American Veterinary Medical Association, a nonprofit professional organization, noted in October 2024, that the number of dog-owned homes in the U.S. is predicted to grow by 59.8 million in 2024, accounting for 45.5% of all US households. Additionally, the number of cat-pet households has risen by 42.1 million in 2024, equivalent to 32.1% of all US households. Consequently, the growing trend of pet ownership is fuelling the expansion of the veterinary medical equipment market.

How Is the Veterinary Medical Equipment Market Segmented?

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 Driving the Next Phase of the Veterinary Medical Equipment Market Growth?

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

What Key Market Trends and Innovations Are Shaping the Future of the Veterinary Medical Equipment Industry?

Progress in diagnostic technologies has enhanced the quality of veterinary care. Devices such as mobile x-ray machines and portable ultrasound scanners have amplified the efficacy of veterinary interventions, particularly in urgent scenarios involving injuries for equine/large animals, companion pets, exotic, and mixed animal practices. The Wristscan V9, a diagnostic tool, is now utilized for carrying out pregnancy tests on animals. Furthermore, the Alivecor app for iPhone is employed to conduct electrocardiograms on animals which are then reviewed by cardiologists.

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How Is the Veterinary Medical Equipment Market Defined and What Are Its Core Parameters?

Veterinary medical equipment refers to types of medical devices and surgical equipment such as endoscopic systems, dental equipment, and veterinary telemetry services that are used for operations, therapy, keeping track of diagnoses and vitals, and enhancing animal care to slow down the progression of diseases.

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