New York, Feb. 09, 2022 (GLOBE NEWSWIRE) -- According to the statistics by the American Pet Products Association’s 2019-2020 National Pet Owners Survey, the number of U.S. households that owned a dog, cat, horse, and small animal as a pet was 63.4 Million, 42.7 Million, 1.6 Million, and 5.4 Million respectively. Moreover, according to the statistics by the European Pet Food Industry (FEDIAF), 88 Million 38% of households in the European Union had a pet in the year 2020. Additionally, according to the 2017-2018 U.S. Pet Ownership & Demographics Sourcebook report by the American Veterinary Medical Association (AVMA), the mean veterinary expenditure per household per year for dogs, cats, and horses were USD 410, USD 182, and USD 614 respectively. Furthermore, the statistics also stated that the mean veterinary expenditure per animal for dogs, cats, and horses were USD 253, USD 98, and USD 291 respectively.
Research Nester has recently released a report titled “Veterinary Injectable Devices Market: Global Demand Analysis & Opportunity Outlook 2020-2030” which focuses on several key market dynamics, including the market drivers, market trends, the key market opportunities, and the major roadblocks for the market growth during the forecast period of 2021-2030. The report also includes a brief analysis of the market players, as well as a synopsis of the impact of COVID-19 on market growth in the coming years.
The number of pets owned by pet owners has increased massively across developed and developing nations worldwide. With the increasing number of pets, the concern for various diseases in these animals is also growing rapidly. For instance, diseases in dogs, such as Brucellosis, Campylobacteriosis, Capnocytophaga spp., Echinococcosis, and others are very common and require urgent attention. On the other hand, rabies, which according to the statistics by the World Organisation for Animal Health (OiE), is known to kill around 59000 people a year, remains to be a global threat. Such factors are raising the need for medication and timely vaccination of these animals, which in turn, is anticipated to drive the growth of the global veterinary injectable devices market.
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The global veterinary injectable devices market, which garnered a revenue of USD 887.0 Million in the year 2020, is further projected to touch USD 1395.4 Million by the end of 2030, by growing with a CAGR of 4.69% during the forecast period. Additionally, the market is also estimated to attain a Y-o-Y growth rate of 5.2% by the end of 2030 from its previous year. The market is also anticipated to grow on account of the growing demand for meat and meat products worldwide, and diary products, which is raising the need amongst cattle owners to maintain the well-being of these animals. According to the statistics by the Organisation for Economic Co-operation and Development (OECD), the consumption of poultry meat worldwide grew from 14.101 Kilograms/capita in the year 2016 to 14.875 Kilograms/capita in the year 2020. Moreover, this is further expected to touch 15.102 Kilograms/capita by the end of 2029. On the other hand, the production of milk worldwide, according to the statistics by the Food and Agriculture Organization of the United Nations, grew by 1.6% in the year 2018 to reach about 838 Mt. Additionally, the statistics also stated that the per capita consumption of fresh diary products is expected to increase by 1.0% per annum over the coming decade. Besides this, the rising concern for animal production losses which are linked to animal diseases, and are calculated to be around 20% according to the statistics by the World Organisation for Animal Health (OiE), is also estimated to boost the market growth in the coming years.
The global veterinary injectable devices market is segmented by geography into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Amongst the market of all these regions, the market in North America generated the largest revenue of USD 306.2 Million in the year 2020 and is further projected to touch USD 475.1 Million by the end of 2030, by growing with a CAGR of 4.53% during the forecast period. The market in the region is further segmented by country into the United States and Canada, out of which, the market in the United States is expected to hold the highest market share by the end of 2030, and also grow with the highest CAGR of 4.58% during the forecast period.
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On the other hand, the market in the Asia Pacific is projected to generate the second-largest revenue of USD 399.8 Million by the end of 2030, up from a revenue of USD 225.3 Million in the year 2020. The market in the region is further estimated to grow with the highest CAGR of 5.96% during the forecast period. The market in the region is further segmented by countries into China, India, Japan, South Korea, Australia, Singapore, and the Rest of APAC, out of which, the market in China is anticipated to register the largest revenue of USD 124.1 Million by the end of 2030, up from a revenue of USD 67.8 Million in the year 2020. Moreover, the market in the country is also estimated to grow with the highest CAGR of 6.30% during the forecast period.
The study further incorporates Y-O-Y Growth, demand & supply and forecast future opportunity in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
The global veterinary injectable devices market is segmented by materials into glass, metal, plastic, and others. Amongst all these segments, the plastic segment generated the largest revenue of USD 460.5 Million in the year 2020 and is further estimated to hold the largest revenue of USD 714.2 Million by the end of 2030, by growing with a CAGR of 4.54% during the forecast period. In North America, the plastic segment is expected to generate the largest revenue of USD 246.1 Million by the end of 2030, while the metal segment is projected to grow with the second-highest CAGR of 5.04% during the forecast period. Meanwhile, in the Asia Pacific, the glass segment is expected to grow with the highest CAGR of 6.59% during the forecast period, while the plastic segment is estimated to generate the largest revenue of USD 201.6 Million by the end of 2030, up from a revenue of USD 114.7 Million in the year 2020.
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The global veterinary injectable devices market is also segmented by end-user into veterinary hospitals, veterinary clinics, and others. Amongst all these segments, the veterinary hospitals segment generated the largest revenue of USD 473.4 Million in the year 2020 and is further estimated to touch USD 732.7 Million by the end of 2030. The veterinary clinics segment, on the other hand, is anticipated to grow with the highest CAGR of 5.19% during the forecast period. In North America, the veterinary clinics segment is expected to grow with the highest CAGR of 5.23% during the forecast period, while in Europe, the veterinary hospitals segment, which generated the largest revenue of USD 128.0 Million in the year 2020, is predicted to touch USD 186.8 Million by the end of 2030.
The global veterinary injectable devices market is also segmented by product and by usability.
Global Veterinary Injectable Devices Market, Segmentation by Product
- Syringes
- Needles
- Remote Drug Delivery Systems
- Darts
- Pole Syringe
- Needle Free Injection System
- Spring Loader Jet Injector
- Battery Powered Jet Injector
- Gas Powered Jet Injector
- Others
Global Veterinary Injectable Devices Market, Segmentation by Usability
- Disposable
- Re-Usable
Some of the prominent industry leaders in the global veterinary injectable devices market that are included in our report are Boehringer Ingelheim International GmbH, Henke-Sass, Wolf GmbH, TeleDart USA, H. Hauptner and Richard Herberholz GmbH & Co. KG, Schippers Export BV, Hamilton Company, Merck & Co., Inc. (Allflex), NEOGEN Corporation, Terumo Medical Corporation, Quick Shot Corporation, and others.
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