Veterinary Equipment and Disposables Market worth 1.7 Billion USD by 2020

05/feb/2016 12:56:38 MarketsandMarkets Contatta l'autore

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The report “Veterinary Equipment and Disposables Market by product (Anesthesia Machine, Vaporizer, Ventilator, Patient Monitoring Devices, Oxygen Mask, Infusion Pump), by Animal (Canine, Feline, Equine, Bovine, Zoo Animals & Others) - Global Forecast to 2020”, analyzes and studies major market drivers, restraints, and opportunities in North America, Europe, Asia-Pacific, Latin America, And Middle East & Africa.
Browse 279 market data tables and 36 figures spread through 277 pages and in-depth TOC on “Veterinary Equipment and Disposables Market”
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The global veterinary equipment and disposables market is estimated to grow at a CAGR of 6.5% to reach around USD 1.7 billion by 2020 from USD 1.2 billion in 2015.
Factors such as rising animal health expenditure and the growing demand for pet insurance, increasing number of veterinary practitioners and their rising income levels in developed regions, increasing animal research and growing research grants, and growth in the companion animals market are driving the growth of the global veterinary equipment and disposables market. However, a severe shortage of skilled veterinarians and the increasing cost of pet care are expected to restrain the growth of this market to a certain extent. Low animal health awareness in emerging markets poses major challenges for the adoption of veterinary equipment and disposables among hospitals and clinics.
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North America accounted for the largest share of 42.3% in the global veterinary equipment and disposables market in 2014. Major factors driving the growth of the veterinary equipment and disposables market in North America are the increasing number of companion animals, rising companion animal healthcare expenditure, increasing awareness about animal diseases, growing number of veterinary practitioners and their income levels, and growth in the pet insurance market.
The Asia-Pacific (APAC) region is expected to show the fastest growth rate during the forecast period. This can be mainly attributed to the growing livestock population, increasing pet adoption, rising awareness about animal health, progressive urbanization, changing dietary habits, and growing per capita animal health expenditure in this region. In addition, the increasing number of veterinary professionals and veterinary clinics has driven the adoption of veterinary equipment and disposables, which in turn is expected to drive the growth of this regional market.
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Prominent players in this market are Smiths Group Plc (U.K.), Medtronic Plc (Ireland), 3M Company (U.S.), Jorgen Kruuse A/S (Denmark), Digicare Biomedical Technology, Inc. (U.S.), Vetland Medical Sales and Services LLC (U.S.), Hallowell Engineering & Manufacturing Corporation (U.S.), DRE Veterinary (U.S.), Midmark Corporation (U.S.), Jorgensen Laboratories (U.S.), and Mila International Inc. (U.S.).
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