Veterinary Equipment Market Forecasts to 2030 – Global Analysis By Product Type (Anesthesia Equipment, Surgical Equipment, Diagnostic Equipment, Monitoring Equipment, Laboratory Equipment, Consumables and Other Product Types), Animal Type, Application, En

Veterinary Equipment Market Forecasts to 2030 – Global Analysis By Product Type (Anesthesia Equipment, Surgical Equipment, Diagnostic Equipment, Monitoring Equipment, Laboratory Equipment, Consumables and Other Product Types), Animal Type, Application, End User and By Geography

According to Stratistics MRC, the Global Veterinary Equipment Market is accounted for $2.2 billion in 2024 and is expected to reach $3.8 billion by 2030 growing at a CAGR of 9.1% during the forecast period. Veterinary equipments are the specialized instruments, tools, and devices used by veterinary professionals for the care, treatment, and management of animals. This equipment is designed specifically for use in veterinary medicine and is essential for providing high-quality medical care to animals. Veterinary equipment also encompasses monitoring devices that track vital signs during treatment, rehabilitation tools for recovery, and basic supplies such as syringes, bandages, and catheters. This equipment is designed to be animal-specific, considering the differences in anatomy and physiology between species.

According to the same source, in Poland, over 49% of the households owned at least one dog, and over 40% owned a cat in 2023. In addition, the Global State of Pet Care report published by the HealthForAnimals Organization in September 2022 highlighted that over half a billion dogs and cats were adopted by families in Europe, along with the United States, Brazil, and China.

Market Dynamics:

Driver:

Rising number of pet ownership globally

The growing number of pet owners has led to a surge in demand for veterinary services, necessitating a greater supply of equipment for routine check-ups, vaccinations, and emergency care. This has led to a robust market for veterinary supplies. The perception of pets as family members has also increased the focus on their health and well-being, encouraging pet owners to invest in high-quality veterinary care and adopting cutting-edge technologies boosting the market growth.

Restraint:

High cost of veterinary equipment

The rising costs of veterinary equipment are leading to a decrease in demand for advanced equipment, particularly in smaller clinics. This may result in a preference for less expensive alternatives, potentially affecting the quality of care. Additionally, high equipment costs can discourage pet owners from seeking necessary veterinary services, leading to postponement of routine check-ups and deterioration of animal health. This could further reduce the demand for veterinary equipment.

Opportunity:

Growing awareness of zoonotic diseases

Growing awareness of zoonotic diseases has led to a surge in demand for advanced veterinary diagnostic equipment, such as imaging technologies and molecular diagnostics, to detect pathogens quickly and accurately. This is being used to prevent the spread of these diseases to humans. Additionally, the increased awareness has prompted a focus on preventive measures, such as vaccination, biosecurity, and infection control protocols, to ensure safe handling and administration of vaccines.

Threat:

Lack of animal healthcare awareness

Pet owners often lack awareness of the importance of regular veterinary care, leading to fewer visits and reduced demand for veterinary equipment. This also results in limited investment in advanced technologies, as veterinarians may opt for basic tools over advanced diagnostic or surgical equipment in regions with low awareness of animal healthcare. This stifles innovation and limits the market for high-quality veterinary products.

Covid-19 Impact:

The COVID-19 pandemic significantly impacted the veterinary equipment market by disrupting supply chains, leading to manufacturing delays and shortages of essential products. Lockdowns resulted in the postponement of non-essential veterinary services, such as routine check-ups and elective procedures, which decreased demand for related equipment like surgical instruments and anesthesia supplies. Additionally, increased operational costs due to safety protocols and the need for personal protective equipment further strained veterinary practices.

The diagnostic equipment segment is expected to be the largest during the forecast period

The diagnostic equipment is expected to be the largest during the forecast period because advanced diagnostic equipment improves early disease detection, leading to better treatment outcomes. This increases pet owners' demand for veterinary care. Technological advancements like point-of-care testing, telemedicine, and AI-driven diagnostics are transforming veterinary practices, improving diagnostic accuracy and streamlining operations, making services more efficient and accessible.

The monitoring segment is expected to have the highest CAGR during the forecast period

The monitoring segment is expected to have the highest CAGR during the forecast period owing to the growing focus on preventive care among pet owners has led to an increase in the use of monitoring equipment, driven by the desire to ensure their animals' health. This has led to a positive economic impact, as pet owners seek comprehensive health management solutions, driving market growth in the veterinary equipment market.

Region with largest share:

North America is projected to hold the largest market share during the forecast period particularly the US and Canada, has high pet ownership rates, driving demand for veterinary services and equipment. The region boasts advanced clinics and hospitals equipped with cutting-edge technology, ensuring top-tier veterinary care with high-quality diagnostic, surgical, and monitoring equipment.

Region with highest CAGR:

Asia Pacific is projected to hold the highest CAGR over the forecast period owing to the growing awareness of animal health and welfare is driving investment in veterinary care, boosting demand for high-quality equipment. Additionally, stricter regulations in the Asia-Pacific region necessitate the use of reliable and effective veterinary equipment, contributing to market growth in compliance with animal health and welfare regulations.

Key players in the market

Some of the key players in Veterinary Equipment market include Avante Animal Health, B. Braun Vet Care GmbH, Becton, Dickinson and Company, Covetrus, Digicare Biomedical Technology Inc., Dispomed Ltd, Jorgensen Labs., Masimo, Medtronic PLC, Midmark Corporation, Mindray Medical International Limited, Nonin, Smiths Medical Inc. and Vetland Medical Sales & Services, LLC

Key Developments:

In July 2024, BD and Quest Diagnostics announced a global collaboration agreement to develop, manufacture and commercialize flow cytometry-based companion diagnostics (CDx), intended to help select the best treatment for patients with cancer and other diseases.

In June 2024, BD and Edwards Lifesciences announced a definitive agreement under which BD will acquire Edwards' Critical Care product group, for $4.2 billion in cash, unlocking new value creation opportunities and enhancing BD's portfolio of smart connected care solutions.

In August 2024, Medtronic plc announced the U.S. Food and Drug Administration (FDA) approval for its Simplera™ continuous glucose monitor (CGM), all-in-one CGM that's half the size of previous Medtronic CGMs. The discreet design simplifies the insertion and wear experience, eliminating the need for overtape.

Product Types Covered:
• Anesthesia Equipment
• Surgical Equipment
• Diagnostic Equipment
• Monitoring Equipment
• Laboratory Equipment
• Consumables
• Other Product Types

Animal Types Covered:
• Companion Animals
• Livestock Animals
• Other Animal Types

Applications Covered:
• Surgery
• Diagnosis
• Monitoring
• Critical Care
• Therapeutic Applications
• Dental Applications
• Other Applications

End Users Covered:
• Veterinary Hospitals
• Clinics
• Research Institutes
• Academic Institutions
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements