Veterinary Equipment And Disposables Market Size, Share & Trends Analysis Report By Product (Equipment & Accessories, Disposables/ Consumables), By Animal Type, By Usage, By End Use, By Region, And Segment Forecasts, 2024 - 2030

Veterinary Equipment And Disposables Market Size, Share & Trends Analysis Report By Product (Equipment & Accessories, Disposables/ Consumables), By Animal Type, By Usage, By End Use, By Region, And Segment Forecasts, 2024 - 2030

Veterinary Equipment And Disposables Market Growth & Trends

The global veterinary equipment and disposables market size is expected to reach USD 4.17 billion by 2030, registering a CAGR of 5.9% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market is driven by the increasing pet insurance penetration, technological advancements, adoption of vet equipment and disposables by end users investments, and initiatives by market participants. In May 2022, Zomedica purchased a USD 1 million convertible note from Structured Monitoring Products, Inc. thus acquiring the option to act as a sales agent for the latter’s VetGuardian wireless remote pet monitoring platform.

Regional expansion by key market players plays a significant role in driving the growth of the market. Key companies expand their presence into new regions to tap into previously untapped markets. By entering new geographical areas, these companies can reach a broader customer base and increase their market share. This may involve partnering with local distributors, establishing subsidiaries, sales offices, or warehouses, and investing in logistics infrastructure. By strengthening their distribution networks, companies can ensure efficient delivery of products to customers and increase market penetration. In May 2022, Mindray Animal Medical Netherland B.V. opened a new European headquarters in Hague, Netherlands in response to market demand and opportunities.

Veterinary hospitals held the dominant share of the market by end use in 2023. This is owing to the larger budgets and greater financial resources of hospitals compared to smaller practices. This allows them to invest in state-of-the-art equipment, advanced technologies, and high-quality disposables to enhance patient care and improve clinical outcomes. Furthermore, veterinary hospitals may have access to financing options or capital investment opportunities that enable them to acquire expensive equipment and maintain a competitive edge in the market. In many cases, hospitals have centralized purchasing and inventory management systems, allowing them to streamline procurement processes, negotiate bulk purchasing discounts, and maintain adequate stock levels of essential equipment and supplies.

Veterinary Equipment And Disposables Market Report Highlights

• By product, the equipment & accessories segment dominated the market in 2023. The disposables/ consumables segment comprising airway management consumables and others is expected to grow the fastest at a rate of 6.6% in the near future
• In 2023, the small animals segment accounted for the largest share of the market by animal type and is also projected to grow the fastest at a CAGR of 6.1%
• In terms of usage, the surgical segment held the highest share of about 40% of the market in 2023. The monitoring segment is anticipated to grow at the fastest rate during the forecast period
• By end use, veterinary hospitals accounted for the largest revenue share of 46% of the market in 2023. The others segment comprising home or farm use and research institutes is projected to grow at the highest CAGR from 2024 to 2030
• By region, North America held the highest share of about 35% of the market in 2023. Asia Pacific region, on the other hand, is estimated to grow at the highest rate of 7.1% in the coming years
• Market expansion in emerging economies, characterized by urbanization, increasing pet ownership, and improving veterinary infrastructure, presents new growth opportunities for veterinary equipment and disposables providers

Please note The report will be delivered in 2-3 business days upon order notification.