(PharmaNewsWire.Com, May 26, 2021 ) The report “Veterinary Equipment and Disposables Market by Product (Consumables, Anesthesia Machines, Ventilators, Patient Monitoring, Oxygen Masks, Infusion Pumps), Animal (Cats, Dogs, Equines, Bovines), End User (Hospitals, Clinics) – Global Forecast”, the global veterinary equipment market is projected to reach USD 2.40 billion, at a CAGR of 8.0% during the forecast period.
The Veterinary equipment and disposables are used in monitoring, surgeries, and the treatment of diseases in animals. Rising animal health expenditure and growing demand for pet insurance, increasing number of veterinary practitioners in developed regions, and growth in the companion animals market are the primary drivers for the global veterinary equipment market and veterinary disposables market during the forecast period.
The critical care consumables segment is expected to account for the largest share of the veterinary equipment market.
On the basis of type, the critical care consumables segment accounted for the largest share of the global veterinary disposables market. The large share of consumables can be attributed to the large number of consumables required and consumed in almost every veterinary care process, as opposed to the one-time cost of capital equipment.
Geographical View in-detailed:
North America is estimated to hold the largest share of the veterinary equipment market during the forecast period, followed by Europe and the Asia Pacific. Factors such as the increasing number of companion animals, rising companion animal healthcare expenditure, rise in the number of livestock animals in North America (primarily due to the increasing consumption of meat and dairy products), and growth in the pet insurance market are responsible for the region’s large share in the global veterinary disposables market.
Global Key Leaders:
The prominent players in the veterinary equipment and disposables market are Mindray Medical International Limited (China), Smiths Group plc (UK), Nonin Medical (US), Digicare Biomedical Technology, Inc. (US), B. Braun Melsungen AG (Germany), Henry Schein (US), Vetland Medical Sales and Services, LLC (US), Hallowell Engineering & Manufacturing Corporation (US), Infiniti Medical, LLC (US), DRE Veterinary (US), and Midmark Corporation (US).
Smiths Group is the leading player in the global veterinary equipment market. This is mainly attributed to its wide geographic presence and distribution network across the globe. The company primarily focuses on strengthening its extensive global sales network. It aims to grow by making customer satisfaction a priority and providing accurate and timely responses and resolutions to consumer needs. The company also provides clinical support to its customers with information pertaining to clinical aspects of veterinary products, which helps the company increase its customer base. In addition, the company also offers clinical education for veterinary professionals, which helps increase the adoption of the company’s products among veterinary professionals.
Henry Schein is one of the world’s largest providers of business, clinical, technology, and supply chain solutions to enhance the efficiency of office-based dental, animal health, and medical practitioners. The company also serves dental laboratories, government and institutional healthcare clinics, and other alternate care sites. Henry Schein operates through a centralized and automated distribution network. The company offers more than 120,000 branded products, as well as more than 180,000 additional products available as special-order items. In 2017, the company recorded net sales of ~USD 12.5 billion, up 7.7% from the prior year. Internal sales increased by 5.1%, which is in line with its goal of growing 1–2% points faster than its end-markets.
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