Dublin, Dec. 12, 2023 (GLOBE NEWSWIRE) -- The "India Veterinary Hypodermic Syringes and Needles Market 2023-2029: Market Forecast By Product, By Animal Type, By Dosage, By End Users, By Regions and Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.
India Veterinary Hypodermic Syringes and Needles market revenue size is projected to grow at a CAGR of 8.8% during 2023-2029
Attributed to increasing pet adoption in India along with a significantly growing allocation of funds in animal healthcare under various schemes and programs. For instance, the Department of Animal Husbandry allocated 2,349 INR Crores in animal healthcare under Livestock Health and Disease Control Program in FY 2023-24 witnessing an increase of 69% in the allocation amount from the previous fiscal year.
This amount will be used to expand the accessibility of veterinary services owing to which, demand for veterinary hypodermic syringes and needles is expected to augment during the forecast period.
In 2020, the sudden outburst of the COVID-19 pandemic adversely affected the growth of the India Veterinary Hypodermic Syringes and Needles market, and the demand for veterinary hypodermic syringes and needles plunged owing to government imposed nationwide lockdown in addition to disruption in the supply chain that led to the halt in operations of manufacturing industries which resulted in the contraction of the economy and an increasing death toll of people owing to pandemic shifted the government funding towards vaccination of citizens across the country which further restricted growth of the market.
India Veterinary Hypodermic Syringes & Needles Market Synopsis
India Veterinary Hypodermic Syringes and Needles market is anticipated to witness significant growth during the forecast period, on the back of initiatives such as the Livestock Health and Disease Control Program, National Animal Disease Control Program, and others by the Government of India.
These initiatives are aimed to fund animal immunization programs, improving veterinary infrastructure, and preventing from widely spreading animal diseases such as Foot and Mouth Disease (FMD) and Brucellosis. Such initiatives are aiding the expansion of veterinary facilities through the introduction of mobile veterinary vans, ambulances, and clinics across India which would directly expand the accessibility of veterinary services providing impetus to the demand for veterinary hypodermic syringes and needles in the India Veterinary Hypodermic Syringes and Needles Industry during the forecast period.
Market by Product
Syringes account for a major revenue share in India veterinary needle and syringes market as syringes have a superior average selling price than needles. However, needle acquires a higher volume share due to single usage, syringe on the other hand are sometimes used multiple times.
Market by Animal Type
In 2022, Bovine Animal generated the major revenue share in India Veterinary Hypodermic Syringes and Needles Market as the government implemented various programs and initiatives to improve the healthcare and productivity of bovine animals such as the National Animal Disease Control Program, National Kamdhenu Breeding Center, Integrated Dairy Development Scheme, which has increased the distribution and use of medical supplies such as hypodermic needle and syringes. Thus, contributed to the growth of the segment.
Market by Dosage
Variable Dosage garnered the major revenue share in India Veterinary Hypodermic Syringes and Needles Market due to the increased adoption of variable dosage syringes, which provide greater flexibility in administering medications. Additionally, their ability to accommodate various animal sizes and administer different medications by adjusting the dosage, eliminates the necessity to purchase multiple syringe sizes. This cost-effective solution is highly favored by veterinarians, thereby driving the growth of the variable dosage segment.
Market by End Users
Veterinary hospitals accounted for the majority market share in the India Veterinary Hypodermic Syringes and Needles Market as pet and livestock owners prefer hospitals over other facilities owing to their ability to provide a comprehensive approach to animal healthcare.
Additionally, many government and private hospitals are expanding their service in India to provide better healthcare to animals. For Instance, In August 2022, DCC (Dogs Cats & Companions) Animal Hospital, one of India's leading multi-specialty pet care chains expanded with a new full-service medical center in Delhi, which contributed to the growth of the segment.
Market by Regions
North region emerged as a major shareholder in the market in 2022, as it has a major livestock population owing to agricultural dominance which has augmented the demand for veterinary hypodermic needles and syringes in the region.
Moreover, the segment is expected to witness a surge in demand on account of increasing government initiatives and regional developments. For instance, the Government of Himachal Pradesh has launched "Project Sanjeevani" which will provide veterinary services at the doorstep of the farmers.
Key Highlights of the Report
- India Hypodermic Syringes and Needles Market Overview
- India Hypodermic Syringes and Needles Market Outlook
- India Hypodermic Syringes and Needles Market Forecast
- Historical Data and Forecast of India Hypodermic Syringes and Needles Market Revenues and Volume for the Period 2019-2029F
- Historical Data and Forecast of India Hypodermic Syringes and Needles Market Revenues, By Product, for the Period 2019-2029F
- Historical Data and Forecast of India Hypodermic Syringes and Needles Market Revenues, By Animal Type, for the Period 2019-2029F
- Historical Data and Forecast of India Hypodermic Syringes and Needles Market Revenues, By Dosage, for the Period 2019-2029F
- Historical Data and Forecast of India Hypodermic Syringes and Needles Market Revenues, By End Users, for the Period 2019-2029F
- Historical Data and Forecast of India Hypodermic Syringes and Needles Market Revenues, By Regions, for the Period 2019-2029F
- India Hypodermic Syringes and Needles Potential Consumers Analysis
- India Hypodermic Syringes and Needles Key Surgical Procedures Analysis
- India Hypodermic Syringes and Needles Vet Hospital Visits Analysis
- Market Drivers and Restraints
- Industry Life Cycle
- Porter's Five Force Analysis
- Market Trends
- India Hypodermic Syringes and Needles Market Revenue Share, By Companies
- Competitive Benchmarking
- Company Profiles
- Key Strategic Recommendations
Company Profiles
- Bio-Med Healthcare Products Pvt. Ltd.
- Hi- Tech Medics Private Limited
- Hindustan Syringes & Medical Devices
- Iscon Surgicals Limited
- Lifelong Meditech Private Limited
- Nipro Corporation
- P.H. Healthcare Pvt. Ltd.
- Terumo India
- Top Syringe Pvt. Ltd.
Market Scope and Segmentation
By Product
- Needles
- Safety Hypodermic Needles
- Non-Safety Hypodermic Needles
- Syringes
- Disposable Syringes
- Non- Disposable/ Reusable Syringes
By Animal Type
- Bovine Animals
- Equine Animals
- Companion Animals
- Other Animals (Poultry Animals, Wild Animals, Fisheries.)
By Dosage
- Fixed Dosage
- Variable Dosage
By End Users
- Veterinary Hospital
- Homecare Centers
- Veterinary Clinics
By Regions
- Northern
- Western
- Southern
- Eastern
For more information about this report visit https://www.researchandmarkets.com/r/dduxr
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