Veterinary Equipment and Disposables Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 2.75 Billion |
| Market Size (2029) | USD 3.99 Billion |
| CAGR (2024 - 2029) | 7.80 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Veterinary Equipment and Disposables Market Analysis
The Veterinary Equipment And Disposables Market size is estimated at USD 2.75 billion in 2024, and is expected to reach USD 3.99 billion by 2029, growing at a CAGR of 7.80% during the forecast period (2024-2029).
Market growth is driven by several factors, including the rise in animal adoption, growing animal diseases, and increased concern for animal health. Additionally, increased veterinary R&D expenditure, technological advancements, product innovation, and a rise in per capita animal health expenditure are expected to propel market growth.
The adoption of companion animals is a major factor driving market growth. For instance, according to data updated by the European Pet Food Industry Federation (FEDIAF), in July 2023, the dog population in the region was over 66.8 million, while the cat population was over 77.9 million in Europe. 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. Therefore, the increased adoption of pets is expected to enhance market growth during the forecast period.
The rising livestock population is also expected to boost market growth. In Australia, according to the Australian Bureau of Statistics, the beef herd increased by 1% to 22.3 million, and the sheep flock increased by 3% to 70.2 million sheep and lambs in June 2022. The rising prevalence of various animal diseases is driving market growth. For instance, canine mammary tumors were found to be the most common tumors in dogs, with a relative incidence of 46.71% in the last five years, according to a study conducted in Mainland China published in Frontiers in June 2022. Pure breeds accounted for 84.13% of the tumors, with 48.41% of the tumors being benign and 51.59% being malignant. Therefore, the rising prevalence of such diseases is expected to enhance market growth.
Furthermore, the increasing number of product launches by key market players is expected to boost market growth. In February 2024, VIC Group’s VIC Animal Health launched a new plant for producing sterile suspensions and powders used for treating farm animals. The company plans to produce 214,000 vials of sterile injectable suspensions, 660,000 anti-mastitis suspensions in syringes, and 142,000 vials of sterile powder.
Therefore, due to the abovementioned factors, such as the rising pet adoption, increasing prevalence of veterinary diseases, and increasing product launches, the market for veterinary equipment and disposables is expected to register growth during the forecast period. However, the high cost associated with animal healthcare is expected to hinder market growth.
Veterinary Equipment and Disposables Market Trends
Patient Monitoring Segment is Expected to Witness Significant Growth Over the Forecast Period
Recent technological advancements and innovations, such as wearables and other connected technologies, have shown great potential in the diagnosis and treatment of pets worldwide. Wearable technologies have extended the reach of veterinarians beyond the confines of their practices, enabling them to monitor the effects of their treatment recommendations on a 24/7 basis. These wearables include devices such as radio frequency identification, global positioning systems (GPS), and sensors that are used to monitor patients.
As the number of surgical procedures performed on animals increases, there has been a corresponding increase in the monitoring of animal physical health, which includes the monitoring of heart rate, respiratory rate, blood pressure, oxygen saturation, capillary refill time, and other vital signs. The high prevalence of chronic diseases in animals is also expected to drive the adoption of patient monitoring systems. For instance, according to a report published by the Journal of Small Animal Practice in April 2022, the prevalence of osteoarthritis was higher in aging dogs, as over 20% of dogs above the age of one year had osteoarthritis. Similarly, according to a report published by the Morris Animal Foundation in October 2023, in the United States, over 14 million adult dogs were affected with osteoarthritis in the country in 2022, and over 90% of cats over 12 years old were suffering from osteoarthritis.
In addition, the rising trend of pet adoption worldwide is another key factor driving growth in this segment. According to data updated in 2022 by Der Deutsche Heimtiermarkt, 47% of households in Germany had pets, and the population kept 34.7 million dogs, cats, small animals, and ornamental birds as pets. The number of cats adopted was higher than that of dogs, with 16.7 million cats living in 26% of German households compared to 10.3 million dogs in 21% of households. This trend is expected to continue to drive growth in the patient monitoring systems segment.
Furthermore, the increasing efforts of key market players to develop advanced technologies and devices are also contributing to the growth of this segment. For example, in March 2023, Zoetis inaugurated the expansion of its multi-purpose diagnostics platform, Vetscan Imagyst, to include two new applications, one for AI dermatology and another for AI equine FEC analysis.
In conclusion, due to the increasing technological advancements in patient monitoring, rising pet adoption, and growing awareness among pet owners, it is expected that the patient monitoring systems segment will continue to experience growth during the forecast period.
North America is Expected to Hold a Significant Share in the Market Over the Forecast Period
North America is expected to hold a significant share in the veterinary equipment and disposables market over the forecast period, owing to factors such as rising pet adoption and increasing per capita animal healthcare expenditure. The rise in the prevalence of various animal diseases was identified as the major driving factor for market growth.
The growing pet population and an increase in spending on pet care fueled market growth. For instance, according to a report published by the Forbes Advisor in January 2024, 66% of US households, that is 86.9 million homes, own a pet. Similarly, according to data from the Canadian Animal Health Institute (CAHI) in September 2022, it was estimated that more than half of Canadian households (60%) owned at least one dog or cat in 2022. The data also detailed that the dog population increased to 7.9 million, and the cat population increased to 8.5 million in 2022.
Moreover, the rising product launches by key market players were expected to boost market growth. For instance, in January 2023, EKF Diagnostics launched a new version of its Lactate Scout analyzer tailored to meet veterinary practitioners' needs. This new version is expected to provide accurate and reliable lactate measurements in veterinary settings, enabling practitioners to quickly and efficiently diagnose and monitor a range of conditions in animals.
Hence, owing to factors such as the rising prevalence of animal diseases, rising pet adoption, and increasing product launches by key market players, the market studied is expected to register growth in the region.
Veterinary Equipment and Disposables Industry Overview
The market is moderately consolidated, and global players have been dominating it. However, with the rising investment by companies in veterinary health, more players are expected to enter the market. Moreover, due to the increasing animal adoption rates in developing countries, companies are adopting expansion and collaboration strategies to gain market share in these regions. Among the major companies operating in the market are B. Braun SE, Digicare Biomedical Technology Inc., Medtronic PLC, and Vetland Medical Sales and Services.
Veterinary Equipment and Disposables Market Leaders
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Mindray Medical International Limited
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Medtronic
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B. Braun SE
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ICU Medical, Inc. (Smiths Medical Inc.)
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Midmark Corporation
*Disclaimer: Major Players sorted in no particular order
Veterinary Equipment and Disposables Market News
- May 2024: SK Telecom launched its AI-based veterinary X-ray image diagnosis assistance service 'X Caliber' in Australia. X Caliber is an innovative service that uses AI to analyze X-ray images of dogs/cats within around 15 seconds.
- January 2024: IDEXX Laboratories Inc. launched the IDEXX inVue Dx Cellular Analyzer, one of the first-of-its-kind slide-free cellular analyzers to detect the most common cytologic changes found in ear and blood samples.
Veterinary Equipment and Disposables Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumption and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Increase in Livestock Population and Pet Adoption
- 4.2.2 Rising Prevalence of Animal Diseases and Disease Awareness
- 4.2.3 Increase in R&D Expenditure for Veterinary Healthcare
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4.3 Market Restraints
- 4.3.1 High Cost Associated with Animal Healthcare
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4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size - Value in USD)
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5.1 By Product
- 5.1.1 Imaging
- 5.1.2 Patient Monitoring
- 5.1.3 Anesthesia Machines
- 5.1.4 Disposables
- 5.1.5 Other Products
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5.2 By Animal
- 5.2.1 Companion Animals
- 5.2.2 Livestock Animals
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5.3 By End User
- 5.3.1 Veterinary Hospitals
- 5.3.2 Private Clinics
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5.4 By Geography
- 5.4.1 North America
- 5.4.1.1 United States
- 5.4.1.2 Canada
- 5.4.1.3 Mexico
- 5.4.2 Europe
- 5.4.2.1 Germany
- 5.4.2.2 United Kingdom
- 5.4.2.3 France
- 5.4.2.4 Italy
- 5.4.2.5 Spain
- 5.4.2.6 Rest of Europe
- 5.4.3 Asia-Pacific
- 5.4.3.1 China
- 5.4.3.2 Japan
- 5.4.3.3 India
- 5.4.3.4 Australia
- 5.4.3.5 South Korea
- 5.4.3.6 Rest of Asia-Pacific
- 5.4.4 Middle East and Africa
- 5.4.4.1 GCC
- 5.4.4.2 South Africa
- 5.4.4.3 Rest of Middle East and Africa
- 5.4.5 South America
- 5.4.5.1 Brazil
- 5.4.5.2 Argentina
- 5.4.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 B. Braun SE
- 6.1.2 Digicare Biomedical Technology Inc.
- 6.1.3 Avante Animal Health
- 6.1.4 Covetrus Inc.
- 6.1.5 Medtronic PLC
- 6.1.6 Midmark Corporation
- 6.1.7 Mindray Medical International Limited
- 6.1.8 ICU Medical Inc. (Smiths Medical Inc.)
- 6.1.9 Vetland Medical Sales and Services
- 6.1.10 Vetronic Services Ltd
- 6.1.11 Becton, Dickinson and Company
- 6.1.12 Nonin
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityVeterinary Equipment and Disposables Industry Segmentation
As per the scope of the report, veterinary equipment and disposables include all kinds of medical equipment, which have been intended to help diagnose, monitor, or treat various health conditions associated with animals. It also includes disposable devices or medical apparatus that have been designed for temporary or one-time use, mainly for infection control.
The veterinary equipment and disposables market is segmented by product, animals, end user, and geography. The product segment is further divided into imaging, ventilators, patient monitoring, anesthesia machines, disposables, and other products. The animal segment is further segmented into companion animals and livestock animals. The end user segment is further bifurcated into veterinary hospitals and private clinics. The geography segment is further divided into North America, Europe, Asia-Pacific, Middle East and Africa, and South America. The report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (USD) for the above segments.
| By Product | Imaging | |
| Patient Monitoring | ||
| Anesthesia Machines | ||
| Disposables | ||
| Other Products | ||
| By Animal | Companion Animals | |
| Livestock Animals | ||
| By End User | Veterinary Hospitals | |
| Private Clinics | ||
| By Geography | North America | United States |
| Canada | ||
| Mexico | ||
| By Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| By Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| By Geography | Middle East and Africa | GCC |
| South Africa | ||
| Rest of Middle East and Africa | ||
| By Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
Veterinary Equipment and Disposables Market Research FAQs
How big is the Veterinary Equipment And Disposables Market?
The Veterinary Equipment And Disposables Market size is expected to reach USD 2.75 billion in 2024 and grow at a CAGR of 7.80% to reach USD 3.99 billion by 2029.
What is the current Veterinary Equipment And Disposables Market size?
In 2024, the Veterinary Equipment And Disposables Market size is expected to reach USD 2.75 billion.
Who are the key players in Veterinary Equipment And Disposables Market?
Mindray Medical International Limited, Medtronic, B. Braun SE, ICU Medical, Inc. (Smiths Medical Inc.) and Midmark Corporation are the major companies operating in the Veterinary Equipment And Disposables Market.
Which is the fastest growing region in Veterinary Equipment And Disposables Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Veterinary Equipment And Disposables Market?
In 2024, the North America accounts for the largest market share in Veterinary Equipment And Disposables Market.
What years does this Veterinary Equipment And Disposables Market cover, and what was the market size in 2023?
In 2023, the Veterinary Equipment And Disposables Market size was estimated at USD 2.54 billion. The report covers the Veterinary Equipment And Disposables Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Veterinary Equipment And Disposables Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Veterinary Equipment and Disposables Industry Report
Statistics for the 2023 Veterinary Equipment and Disposables market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Veterinary Equipment and Disposables analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
