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The veterinary medical equipment market is forecasted to achieve significant growth in the coming few years with a forecast CAGR (compound annual growth rate) of more than 6%, as per The Business Research Company’s market report!

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The Veterinary Medical Equipment Market Size In 2022 And Forecast

The global veterinary medical equipment market is expected to grow from $2.02 billion in 2021 to $2.22 billion in 2022 at a compound annual growth rate (CAGR) of 9.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The global veterinary medical equipment market size is expected to grow to $2.81 billion in 2026 at a CAGR of 6.1%.

The veterinary medical equipment market consists of sales of veterinary medical equipment and related services by entities (organizations, sole traders, and partnerships) that produce veterinary medical equipment used in the diagnosis, monitoring, and treatment of medical conditions in animals.

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Global Economy Is Driving The Growth Of The Veterinary Medical Equipment Market

The US economy showed steady growth during the historic period, and this is likely to continue during the forecast period. Emerging markets reached 4.8% in 2020 versus 3.6% in 2019. The continued economic growth is expected to contribute to increased standards of living of the global population and strengthen the presence of the middle class. Increased standards of living and a strengthened middle class will further drive the demand for improved nutrition, particularly animal protein, and increase focus on food quality and safety, supporting the growth of the animal medicine market in terms of feed additives. Thus, economic growth is expected to drive this market.

Competitive Landscape And The Regional Analysis Of The Veterinary Medical Equipment Market

Major players in the veterinary medical equipment market are Carestream Health, IDEXX Laboratories Inc., Agfa Healthcare, MinXray Inc., and Diagnostic Imaging Systems.

Additionally, as per TBRC’s research – North America was the largest region in the veterinary medical equipment market in 2021 holding the largest market share.

The Veterinary Medical Equipment Global Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the veterinary medical equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the veterinary medical equipment market.

Advances In Diagnostic Tools – A Key Trend In The Veterinary Medical Equipment Market

Equipment such as portable x-ray and portable ultrasound scanners has increased the efficiency of veterinary treatment (especially in emergencies due to injury) for all equine/large animals, companions, exotic and mixed animal practices.

Veterinary Medical Equipment Market Segmentation By The Business Research Company

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

Here Are Some Reports Related To The Veterinary Medical Equipment Market –

Veterinary Vaccines Market Report 2022

Animal Medicine Global Market Report 2022

Veterinary Antibiotics Global Market Report 2022

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