The veterinary equipment and disposables market size is expected to advance at a CAGR of 9.2% during 2024–2030, to reach USD 4,620.4 million by 2030. This is ascribed to the increasing population of farm animals and the rapid technological advancements in veterinary sciences.
The growing prevalence of zoonotic disorders, along with the increasing investments in veterinary healthcare, is also boosting the growth of the market. Chronic conditions such as foot and mouth disease, pet cancer, and lumpy skin disease are commonly encountered in livestock animals. Moreover, according to the American Veterinary Medical Association, around 1 in 4 dogs develop neoplasia at some stage of their life, and approximately half the dogs develop cancer. It is also predicted that at approximately the same rate as humans, dogs are affected by cancer. Some cancers, such as lymphoma, are more common in cats than dogs.
Further, the market is driven by the increasing demand for pet insurance, growing number of veterinary practitioners, and rising number of hospitals. Moreover, the increasing healthcare investments lead to the development of more-advanced equipment, including disposable veterinary infusion pumps, for the treatment of zoonotic diseases. Key players are also investing in wearable technologies for monitoring and tracking animals’ health. The increasing health knowledge and growing focus on it, coupled with technological advancements, are expected to offer opportunities for market growth in the coming years.
The revenue of the market in APAC will witness a CAGR of 9.5%, owing to the rising focus on pet adoption, especially of the younger generation. A range of equipment is utilized for diagnosis to provide the appropriate treatment for diseases to pets.
The screening of production animals for food-borne pathogens that could cause an outbreak of deadly zoonotic diseases, such as Salmonella and Campylobacter, is another important function of veterinary supplies and equipment.
The rise in the requirement for food products derived from animals, the initiation of various health awareness programs, and the increase in the number of companion animals are the major factors contributing in the expansion of the market in the region. Additionally, with the advancing technology, veterinarians and farmers are able to work more comfortably and profitably to produce more milk, eggs, and meat.
In the last few years, significant market growth has been observed due to the increasing adoption of companion animals across the region. This growth is credited to the positive health benefits to pets, including improved wellbeing, normalization of the blood pressure, reduced anxiety and risk of cardiac arrhythmias, and better psychological stability. These requirements of pet animal owners have a positive impact on the development of the veterinary equipment and disposables market, as owners are focusing increasingly on providing excellent care to their pets.
The most-significant veterinary equipment and disposables market players are Covetrus Inc., B. Braun Vet Care GmbH, Digicare Biomedical Technology Inc., Hallowell EMC, Jorgensen Laboratories LLC, Vetronic Services Ltd., Shenzhen Mindray Animal Medical Technology Co. LTD., Advancis Veterinary Ltd., Avante Animal Health, and New Gen Medical Systems.