Veterinary Consumables Market
Growth Factors of Veterinary Consumables Market
The veterinary consumables market size was valued at USD 1.03 billion in 2023, and the market is now projected to grow from USD 1.11 billion in 2024 to USD 2.11 billion by 2032, exhibiting a CAGR of 8.4 % during the forecast period of 2024-2032.
The veterinary consumables industry was affected by the COVID-19 outbreak as it disrupted the supply chain process, and changed the customer trends. Owing to limitations placed on the veterinarians, and change of focus, the market for consumables narrowly dipped, with a temporary reduction in usage for such products. But the pandemic led to an increase in pet adoption and this shifted consumers’ attitude towards pet health, leading to a demand for veterinary products. The market is rebounding as owners are paying more attention to their pets and advancement of veterinary products showing that the supply chain is becoming more robust.
Current trends in the veterinary consumables market cover increasingly velocity of innovations that tend to develop more accurate diagnostic tools and shifted to the focus on individual approach. Tele-consultations and remote monitoring of pets has become popular and prevalent in bringing about easier and convenient services to pet owners. These kinds of products can be categorized as sustainable and green, which are becoming more popular as the veterinary practices and pet owners become more conscious of the earth’s destruction. Also, an inclination toward pet ownership and expansion on preventive care services are creating demand for premium consumables. It is also gaining in the emergence and development of specialized products on certain species of animals. Thus, all the above mentioned factors are contributing towards the veterinary supplements market growth.
Prominent factors that are likely to propel the growth of the veterinary consumables market include rising pet adoption coupled with higher spending on animal’s health by pet owners. Improvements in specimen collection tools and animal diagnostics have driven the need for high end consumable testing products. The idea of preventive care and wellness boosts market progress since most pet owners prefer to take their pets for check-ups and other treatment services. Therefore, an increasing number of specialized products for different animal species and focusing on the environmental aspect contribute to the further development of the market.
Comprehensive Analysis Veterinary Consumables Market
The veterinary consumables market is highly differentiated by product types, animals and usage types. In its broadest terms, it covers product ranging from anesthesia, supplies for the ventilators, monitoring supplies, imaging supplies for animals and many other important products that are vital in the health of animals. The market also has segmentation based on the type of animals, which are the companion animals such as canine, feline, equine among others and livestock animals which are the bovine, swine among others. Furthermore, consumables are divided into single use, or products that wear out and need frequent replacement, and multiple use, or constant use and re-usable, which highlights their hygiene issues, cost and effectiveness, as well as environmental impacts. This segmentation shows a sweeping range of veterinary consumables that are specific either to certain animals or clinic conditions.
The veterinary consumables market share has been dominated by North America because of developed veterinary facilities, the increased adoption of pets and their healthy expenditure in the healthcare sector. Of all, the United States can be mentioned due to the well-developed healthcare system, constant development of technologies, and highly prioritized preventive measures as well as the usage of the newest veterinary solutions. The region indeed boasts of having established veterinary practices as well as increasing and complex needs of diagnostic as well as therapeutic products thus making it to have a strong market hold globally.
Key players in this sector include Avante Animal Health (Avante Health Solutions) (U.S.), Midmark Corporation (U.S.), SunTech Medical, Inc. (U.S.), Shenzhen Mindray Animal Medical Technology Co., LTD. (China), B. Braun SE (Germany), VETLAND MEDICAL SALES & SERVICES (U.S.)
The most current technological innovation in veterinary imaging supplies that arrived at 2024 is AI and Machine Learning. These innovations are improving the speed of diagnosis and utilization real-time analysis and predictive data from imaging. Imaging tools provide an insight and assist the veterinarians to identify early signs of the abnormalities and treat patients with precision. Also, there is increasing concern with portable and transportable imaging equipment that can expand the possibilities of diagnosis in different locations including clinical practices, field researches. This trend has pointed out the new trend of moving towards better and cheaper veterinary services.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Unit Value (USD Billion)
Growth Rate CAGR of 8.4% from 2024-2032
Segmentation By Product
- Anesthesia Supplies
- Ventilator Supplies
- Monitoring Supplies
- Imaging Supplies
- Others
By Animal Type
- Companion Animal
- Canine
- Feline
- Equine
- Others
- Livestock Animal
- Bovine
- Swine
- Others
By Type
By End-user
- Veterinary Hospitals
- Veterinary Clinics
- Others
By Geography
- North America (By Product, Animal Type, End-user, and Country)
- U.S.
- Canada
- Europe (By Product, Animal Type, End-user, and Country/Sub-region)
- U.K.
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific (By Product, Animal Type, End-user, and Country/Sub-region)
- Japan
- India
- China
- Australia
- Southeast Asia
- Rest of Asia Pacific
- Rest of the World
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