The 2023 report on the “Veterinary Equipment and Supplies Market” presents a thorough and accurate examination of different factors pertaining to business expansion prospects, challenges, risk elements, and trends in all geographical regions. This report delivers current information on the most recent technological developments, along with SWOT and PESTLE analysis, and valuable insights on market size.
Global Veterinary Equipment and Supplies Market is valued at approximately USD $ million in 2021 and is anticipated to grow with a healthy growth rate of more than $ over the forecast period 2022-2028. Veterinary equipment and supplies comprise a wide range of medical equipment that are used for monitoring, diagnosing, and treating various conditions related to animals’ health. The growing population of companion animals, the increasing number of veterinary practitioners and hospitals, coupled with the rising prevalence of various diseases in animals are the primary factors propelling the market demand across the globe.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
For instance, according to the Insurance Information Institute, in 2018, the total expenditure on the pet industry across the United States was roughly recorded as USD 90.5 billion, and the amount increased and reached nearly USD 123.6 billion in 2021. Accordingly, the rising expenditure on pets or companion animals is exhibiting a positive influence on the growth of the global market. However, the high cost of veterinary equipment and shortage of veterinary practitioners in developing countries impede the growth of the market over the forecast period of 2022-2028.
Also, the increasing investment in technological developments and surging demand for pet insurance are anticipated to act as catalyzing factors for the market demand during the forecast period.
The key regions considered for the global Veterinary Equipment and Supplies Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to rising expenditure on companion animal healthcare and presence of a large number of veterinary practitioners. Whereas, Asia-Pacific is anticipated to exhibit the highest CAGR over the forecast period 2022-2028. Factors such as the growing practice of pet adoption, as well as rising prevalence of diseases in animals, would create lucrative growth prospects for the Veterinary Equipment and Supplies Market across the Asia-Pacific region.
Major market players included in this report are:
B. Braun Vet Care GmbH
Covetrus Inc.
BD Animal Health
Cardinal Health
ICU Medical, Inc.
Neogen Corporation
Integra LifeSciences
Midmark Corporation
Jorgensen Laboratories
Shenzhen Mindray Animal Medical Technology Co., Ltd.
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
Critical Care
Consumables
Anesthesia Equipment
Fluid Management Equipment
Temperature Management Equipment
Patient Monitoring Equipment
Research Equipment
Rescue & Resuscitation Equipment
By Animal Type:
Companion Animal
Bovines Animal
By Application:
Surgical application
Diagnosis, Monitoring, and Therapy
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
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ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Some of the Key Questions Answered in this Report:
- What are the essential drivers of the world market? How huge will the market and increase price in upcoming years?
- What are the principal market tendencies that affecting the increase of the world market?
- Key vogue elements have an effect on market share in the world’s pinnacle regions?
- Who are the most vital market contributors and what techniques being they pursuing in the international market?
- What are the market possibilities and threats to which gamers are uncovered in the world market?
- Which enterprise trends, drivers and challenges are riding that growth?
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