Veterinary Equipment and Disposables Market

Growing pet population is driving the market growth

Market CAGR for veterinary equipment and disposables is driven by the rising number of pet animals. Another is the frequency of diseases affecting cats and dogs. As more consumers purchase pet insurance to lower out-of-pocket expenses for catastrophic medical issues like accidents, the market is anticipated to expand soon. A few other factors driving the need for pet insurance include the rising prevalence of animal diseases and the high cost of treatment. The price of diagnosis raises treatment expenses even further, spurring market expansion. The high expense of veterinary care is another factor in the need for pet insurance.

The cost of diagnostic procedures, such as imaging and lab testing, can be high, and the cost of therapy may increase. Veterinarian treatment is made more accessible and inexpensive thanks to pet insurance, which lessens the financial strain on pet owners. As they are essential for identifying and treating a wide range of animal diseases and ailments, this fuels the market for veterinary equipment and disposables.

Because of the rise in animal procedures, the veterinary equipment and disposables market is anticipated to expand in emerging nations. Veterinary offices are increasingly using surgical methods to treat various medical issues and enhance the well-being of animals. The most common surgical operations performed on pets include dental surgeries, cataract removal, hip dysplasia treatments, spaying or neutering, and wound healing.

The market for veterinary equipment and disposables is anticipated to rise as a result of the rising awareness of pet health and the prevalence of illnesses linked to obesity, as well as the rising number of surgical procedures performed on animals in emerging nations. For these treatments and to assure the safety and welfare of the animals undergoing surgery, veterinary practices are seeing an increase in demand for disposable surgical supplies. Thus, driving the veterinary equipment and disposables market revenue.

The rise in pet ownership globally contributes significantly to the Global Veterinary Equipment and Disposables Market Industry. As more households adopt pets, the demand for veterinary services and associated equipment surges. In 2024, the market is projected to reach 2.22 USD Billion, reflecting the growing need for diagnostic tools, surgical instruments, and disposables. This trend is particularly evident in regions such as North America and Europe, where pet ownership rates have increased substantially. The increasing awareness of pet health and wellness further drives this demand, suggesting a robust growth trajectory for the industry.

Technological innovations in veterinary medicine are transforming the Global Veterinary Equipment and Disposables Market Industry. Advancements such as telemedicine, digital imaging, and minimally invasive surgical techniques enhance the quality of care provided to animals. These technologies not only improve diagnostic accuracy but also streamline veterinary practices, making them more efficient. As a result, the market is expected to grow, with projections indicating a rise to 2.92 USD Billion by 2035. The integration of smart devices and AI in veterinary practices further indicates a shift towards more sophisticated equipment, which could reshape the landscape of veterinary care.

There is a growing awareness among pet owners regarding the importance of regular veterinary check-ups and preventive care, which significantly influences the Global Veterinary Equipment and Disposables Market Industry. This heightened awareness leads to increased spending on veterinary services and equipment, as owners seek to ensure the health and well-being of their pets. The trend is particularly strong in urban areas, where access to veterinary services is more prevalent. As the market evolves, it is anticipated that this awareness will continue to drive demand, contributing to the overall growth of the industry in the coming years.

Emerging markets are witnessing economic growth, which positively impacts the Global Veterinary Equipment and Disposables Market Industry. As disposable incomes rise in these regions, pet ownership is expected to increase, leading to a higher demand for veterinary services and equipment. Countries in Asia-Pacific and Latin America are particularly noteworthy, as they are experiencing rapid urbanization and a shift in consumer behavior towards pet care. This economic development is likely to bolster the market, with projections indicating a steady increase in demand for veterinary equipment and disposables, aligning with the overall growth trends observed globally.

Government regulations aimed at improving animal health standards play a crucial role in the Global Veterinary Equipment and Disposables Market Industry. Regulatory bodies are increasingly emphasizing the importance of veterinary care, leading to the establishment of guidelines that promote the use of advanced equipment and disposables. This regulatory support encourages veterinary practices to invest in high-quality equipment, thereby enhancing service delivery. As a result, the market is likely to experience steady growth, with a projected CAGR of 2.52% from 2025 to 2035, reflecting the positive impact of these regulations on the industry.

By region, the report gives market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American veterinary equipment and disposables market area will dominate this market. This is due to factors like its well-established veterinary healthcare system, rise in companion animals, rising healthcare costs, and emphasis on animal ailments. The region has seen increased veterinary healthcare spending, driving the market's expansion.

Further, the major countries studied in the market report are US, Canada, France, German, Italy, UK, Spain, Japan, China, Australia, India, South Korea, and Brazil.

Figure 2: VETERINARY EQUIPMENT AND DISPOSABLES MARKET SHARE BY REGION 2023 (USD Billion)

Source: Primary Research, Secondary Research, Market Research Future Database and Analyst Review

Europe’s veterinary equipment and disposables market accounts for the second-largest market share. Improved veterinary healthcare procedures and significant veterinary healthcare issues in the area are some driving the market's expansion. Major competitors in the European industry are also enhancing their market position by utilizing a variety of expansion tactics, including partnerships, mergers, and acquisitions. Further, the German veterinary equipment and disposables market held the major market share, and the UK veterinary equipment and disposables market was the rapidly growing market in the European region.

The Asia-Pacific Veterinary Equipment and Disposables Market are expected to grow at the fastest CAGR from 2023 to 2032 because pet adoption is becoming more popular, animal health awareness is rising, the number of livestock is intensifying, urbanization is advancing, and per capita spending on animal health is rising. The region's market for veterinary equipment and disposables is also predicted to grow due to increased R&D spending by industry participants and veterinary businesses to produce value-added goods.

Moreover, China’s veterinary equipment and disposables market held the largest market share, and the Indian veterinary equipment and disposables market was the rapidly growing market in the Asia-Pacific region.

Leading market players are investing heavily in research and development to expand their product lines, which will help the veterinary equipment and disposables market, grow even more. To increase their footprint, market participants are also engaging in various strategic actions. Important market developments include introducing new products, mergers and acquisitions, contractual agreements, increased investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the veterinary equipment and disposables industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the veterinary equipment and disposables industry to benefit clients and increase the market sector. In recent years, the veterinary equipment and disposables industry has offered some of the most significant advantages to medicine. Major players in the veterinary equipment and disposables market, including Patterson Companies, Inc., Vetland Medical Sales & Services, Digicare Biomedical Technology Inc, Medtronic, Braun Melsungen AG., and others, are attempting to increase market demand by investing in research and development operations.

EKF Diagnostics Holdings PLC is a medical diagnostics company. The company's main line of business is point-of-care testing and the production of reagents for use in central laboratories. It serves companies in fields such as diabetes, blood banking, and sports medicine. The corporation earns money from its sales in the United States. It also has markets in Germany, Poland, and Russia. In January 2023, EKF Diagnostics announced the release of a new version of its Lactate Scout analyzer designed specifically for veterinary practitioners.

This new version is designed to deliver accurate and dependable lactate measures in veterinary settings, allowing practitioners to diagnose and monitor a variety of diseases in animals promptly and efficiently.

Axio is a medtech research, development, and manufacturing company focused on advanced surgical and wound care solutions based on innovative biomaterials. Axio is a medical technology firm specializing in biomaterials-based medical devices for pre-hospital, intra-operative, and post-operative clinical needs. Their primary focus is trauma, surgical, and chronic wound treatment devices. In March 2021, Axio Biosolutions announced the launch of its SureKlot product line in the veterinary wound treatment arena. This sophisticated wound care line provides India's first complete veterinary wound management solution to aid in controlling bleeding and the rapid recovery of animal wounds.