Pune, India, Dec. 19, 2023 (GLOBE NEWSWIRE) -- Global Veterinary Anesthesia Equipment Market Size was valued at USD 174.3 billion in 2020 and is projected to grow USD 290.2 billion by 2028 exhibiting a CAGR of 7.0% during the forecast period.Veterinary anesthetic equipment has been widely employed in veterinary treatments such as dental procedures, radiography, and urine catheterization over the years.
The rising incidence of veterinary chronic diseases such as hepatitis, skin allergies, chronic renal disease, and diabetes mellitus in companion animals has resulted in an increase in the number of surgical procedures connected with these conditions.
This information is provided by Fortune Business Insights™ in its research report titled Veterinary Anesthesia Equipment Market, 2021-2028.
Key Industry Development-
- April 2021: Shenzhen Mindray Animal Medical Technology Co., LTD. has announced the release of the Veta 5/ Veta 3 veterinary anesthetic device. In addition, the device was unveiled at the X WSAVA event in 2021.
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Key Takeaways –
- Veterinary Anesthesia Equipment Market size in North America was USD 77.0 million in 2020
- Growing Animal Population with an Increase in Veterinary Surgical Procedures to Drive Market Growth
- Surge in the Number of Veterinary Establishments to Augment Market Growth
- The portable segment is expected to hold a major market share during the projected period.
Discover the Leading Players Featured in the Report-
- JD Medical (Phoenix, U.S.)
- Kent Scientific Corporation (Torrington, U.S.)
- Midmark Corporation (Dayton, U.S.)
- Patterson Scientific (Waukesha, U.S.)
- VETLAND MEDICAL SALES & SERVICES (Louisville, U.S.)
- DRE Veterinary (Chicago, U.S.)
- Shenzhen Mindray Animal Medical Technology Co., LTD. (Shenzhen, China)
- Dispomed ltd (Joliette, Canada)
- RWD Life Science Co., LTD (Shenzhen, China)
- Hallowell Engineering & Manufacturing Corporation (Pittsfield, U.S.)
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2021 to 2028 |
| Forecast Period 2021 to 2028 CAGR | 7.0% |
| 2028 Value Projection | USD 290.2 Billion |
| Base Year | 2020 |
| Veterinary Anesthesia Equipment Market Size in 2020 | USD 174.3 Billion |
| Historical Data for | 2017 to 2019 |
| No. of Pages | 138 |
| Segments covered | Product, Animal Type and Geography |
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Drivers & Restraints:
Rising Number of Veterinary Surgical Treatments to Augment Market Growth
The rising number of veterinary surgical treatments including spaying and neutering, skin surgeries, and teeth extractions is one of the most important drivers of the global industry. ACL, fractures and dislocations, belly surgery, cancer surgery, spinal surgery, ear surgery, and amputations are some of the other major veterinary surgical operations performed around the world. For example, the total number of dogs in the U.S. in 2020 was 89.7 million. According to an article published by the American Veterinary Medical Association (AVMA), neoplasia affects about one out of every four dogs. Almost half of the dogs over the age of ten get cancer, which can be treated with certain surgical procedures, resulting in increased anesthetic use and a major driver for veterinary anesthetic equipment.
Segmentation:
By Product
- Standalone
- Portable
By Animal Type
- Small Animal
- Dogs
- Cats
- Others
- Large Animal
- Bovine
- Equine
- Others
By End-user
- Veterinary Hospitals
- Veterinary Clinics
- Others
Regional Insights:
North America to Dominate the Global Market
In 2020, the North American veterinary anesthesia equipment industry was worth USD 77.0 million. Because of its highly knowledgeable and economically stable populace, the North American market is projected to dominate. The region's leading market share is aided by the region's significantly larger number of veterinary procedures conducted. Furthermore, the increasing acceptance of small animals in the region contributes significantly to the market's growth. According to the American Veterinary Medical Association, the number of dogs and cats in the U.S. was 76.8 million in 2018 and 58.4 million in 2017.
Due to a boom in pet adoption in key European countries and increased research & development spending to offer novel veterinary anesthetic products in Europe, Europe has the second largest veterinary anesthesia equipment market share. As the number of animal illnesses rises, so will the number of veterinary procedures. As a result, the market will grow as more people use veterinary anesthetics during the treatment. For instance, according to an article published in BioMed Central in February 2021, in 2016, out of 22,333 dogs, 65.8% of dogs at least had one disorder.
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Competitive Landscape:
Key Players to Aim in Launching New Products
Shenzhen Mindray Animal Medical Technology Co., LTD, Midmark Corporation, Dispomed Ltd, and DRE Veterinary are the prominent players leading the global market in terms of competitive landscape (Avante). Because of their extensive distribution network, strategic activities like acquisitions, varied product portfolios, and considerable presence in the U.S. Shenzhen Mindray Animal Medical Technology Co., LTD., for example, announced the debut of their new veterinary anesthetic equipment, Veta 5/ Veta 3, in April 2021. These kinds of launches help the company grow its market share.
FAQs
How big is the Veterinary Anesthesia Equipment Market?
Veterinary Anesthesia Equipment Market size was USD 174.3 billion in 2020. It is expected to reach USD 290.2 billion in 2028.
How fast is the Veterinary Anesthesia Equipment Market growing?
The Veterinary Anesthesia Equipment Market will exhibit a CAGR of 7.0% during the forecast period, 2021-2028.
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