Market Research Report
Veterinary Equipment And Disposables Market Size, Share & Trends Analysis Report By Product (Critical Care Consumables, Anesthesia Equipment), By Animal Type (Companion, Livestock), By End Use, By Region, And Segment Forecasts, 2022 - 2030
|Veterinary Equipment And Disposables Market Size, Share & Trends Analysis Report By Product (Critical Care Consumables, Anesthesia Equipment), By Animal Type (Companion, Livestock), By End Use, By Region, And Segment Forecasts, 2022 - 2030|
Published: April 20, 2022
Grand View Research, Inc.
Content info: 130 Pages
Delivery time: 2-10 business days
The global veterinary equipment and disposables market size is expected to reach USD 4.4 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.8% from 2022 to 2030. Increasing pet health expenditure and growing concern among pet owners are driving the market. Advancement in veterinary equipment and growing initiatives by the industry players are boosting the growth. Companies are investing in the expansion of their manufacturing facilities, which is expected to positively influence the revenue over the forecast period. For instance, in June 2021, Veterinary Instrumentation (VI), announced an expansion in the U.S. market. With this expansion, VI is going to bring the support of the expert team to veterinarians and more than 4,000 professional veterinary instruments in the U.S. This initiative is expected to boost the company's growth, as it allows brand development in North America.
Growth in the companion animal population is expected to increase the demand for better treatment options and boost the overall expenditure on pets. In addition, there is an increase in the demand for animal products in emerging economies, due to improving per capita income and living standards. This has raised concern for the health of livestock which is further fueling the market. Like other markets, the market for veterinary equipment and disposables has also been significantly affected. Some of the major negative impacts of COVID-19 on the market are supply chain disruptions and operational hurdles due to changing policies and restrictions.