Dublin, March 06, 2024 (GLOBE NEWSWIRE) -- The "Veterinary Medical Equipment Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The veterinary medical equipment market size is expected to see strong growth in the next few years. It will grow to $3.45 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The anticipated growth in the forecast period can be attributed to the adoption of companion animals, increased efficiency in veterinary treatment facilitated by portable X-rays and ultrasound scanners, improved standards of living and a strengthened middle class, heightened awareness of pet vaccinations, and the legal requirement of microchipping. Major trends in the forecast period include a need for veterinary diagnostic providers to invest in advanced technologies for faster diagnosis of medical conditions, the rapid adoption of companion animals driving the market and thereby growing the veterinary equipment market, a recommendation for veterinary diagnostic service providers to adopt molecular biology for early disease detection, recognition that wearable technologies enable tracking critical health parameters in pets and animals, suggesting investment in these technologies, and advising companies to utilize 3D printers for versatility and personalization of veterinary supplies.
The forecast indicates a sustained period of steady global economic growth. The US economy, having demonstrated consistent growth in the past, is anticipated to continue on this trajectory during the forecast period. Emerging markets experienced a rise from 3.6% in 2019 to 4.8% in 2020. This continuous economic expansion is poised to elevate global living standards and reinforce the middle class. The improved living standards and a robust middle class are expected to fuel the demand for enhanced nutrition, especially animal protein, and emphasize food quality and safety. Consequently, this will support the growth of the animal medicine market, particularly in terms of feed additives. Thus, economic growth is anticipated to be a driving force for this market.Key Attributes:
| Report Attribute | Details |
| No. of Pages | 400 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value (USD) in 2024 | $2.61 Billion |
| Forecasted Market Value (USD) by 2028 | $3.45 Billion |
| Compound Annual Growth Rate | 7.2% |
| Regions Covered | Global |
A selection of companies mentioned in this report includes
- Covetrus Inc.
- IDEXX Laboratories Inc.
- Integra LifeSciences Corporation
- Mindray Medical International Limited
- Midmark Corporation
- Smiths Group plc
- Carestream Health
- Agfa-Gevaert Group
- Nonin Medical
- B. Braun Vet Care GmbH
- Risol International Industrial Co., Limited
- Guangzhou Medsinglong Import & Export Co., Ltd.
- Arosol Chemicals Private Limited
- Applied Bio Diagnostics Private Limited
- Zoetis
- Elanco
- Merck Co. Inc
- Vetpak
- Agilis Ltd
- Eickemeyer
- Vetlabsupplies
- Burtons
- Virbac
- Avz Animal Health
- Dixion
- Vic Group
- Vetmarket
- Draminski
- Chifa
- Ogena Solutions
- Axiom Medical Inc
- Carolina Scales Inc
- Cenogenics Corp
- Renco Corporation
- Gervetusa Veterinary Surgical Instruments
- X-Cel X-Ray Corp
- Surgitel
- Div. Of General Scientific Corp
- Spectrum Chemical Mfg. Corp
- Boston Medical
- Enso Doctors
- Medical Coaches Inc
- Lab Oratorio Proagro S.A.
- Vesalius Pharma Ltd.
- Apilab Srl
- Ceba
- Centrovet
- Hoppner Vet
- Instituto Veterinario Uruguay S.A
- Interchem Ltda
- Boehringer Ingelheim Mena
- Saudi Pharmaceutical Industries (Spi)
- Bimeda Chemicals Limited
- DBK Pharma S.A.E.
- MSD Animal Health South Africa
- Ceva Animal Health (Pty) Ltd
For more information about this report visit https://www.researchandmarkets.com/r/w03cx9
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
