Veterinary Equipment and Disposables Market Size

Market Size Snapshot

Note – Market size depicts the revenue generated over the financial year

The veterinary equipment and supplies market is expected to reach $ 2.22 billion in 2024, with a projected growth of $ 2.71 billion by 2032. This represents a CAGR of 2.6% over the forecast period. The growth of the market is attributed to several factors, including the growing pet population, the rising awareness of animal health, and the development of veterinary technology to improve diagnostic and treatment capabilities. Veterinary equipment and supplies have undergone a series of technological advances, such as the development of advanced diagnostics, minimally invasive surgery and smart monitoring. These innovations have not only improved the quality of animal care, but have also improved the efficiency of veterinary practices. The major players in the market, such as IDEXX Laboratories, Inc., Zoetis Inc., and Henry Schein Animal Health, are constantly investing in research and development, establishing strategic alliances, and launching new products to take advantage of these trends. Recent alliances between companies, such as IDEXX Laboratories and GE Healthcare, aimed at integrating telemedicine solutions into veterinary practices, also reflect the industry's shift towards more accessible and efficient animal health care.

Regional Market Size

Regional Deep Dive

Veterinary Equipment and Disposables Market is experiencing significant growth across the globe, owing to increasing pet ownership, advancements in veterinary technology, and a rising focus on animal health. North America is characterized by a high demand for advanced diagnostic and surgical equipment, while Europe is characterized by a strong focus on regulatory compliance and sustainable veterinary practices. Asia-Pacific is expected to witness significant growth, owing to increasing disposable incomes and growing awareness about animal health. The Middle East and Africa is characterized by the development of veterinary infrastructure, while Latin America is characterized by increasing investment in animal health.

Europe

• In Europe, the European Medicines Agency (EMA) has introduced stricter regulations on veterinary medicines, prompting manufacturers to develop more sustainable and eco-friendly disposables, which is reshaping product offerings in the market.
• The rise of telemedicine in veterinary practices, particularly in the UK and Germany, is driving demand for remote diagnostic tools and equipment, allowing veterinarians to provide care more efficiently.

Asia Pacific

• The Asia-Pacific region is seeing a surge in veterinary clinics and hospitals, particularly in countries like China and India, where increased pet ownership is leading to higher demand for veterinary equipment and disposables.
• Innovations in mobile veterinary services are gaining traction, with companies like PetBacker providing on-demand veterinary care, which is influencing the types of equipment and disposables needed in the market.

Latin America

• Latin America is experiencing a rise in veterinary education and training programs, supported by organizations like the Pan American Health Organization (PAHO), which is improving the quality of veterinary services and equipment usage.
• The region is also seeing an increase in pet insurance adoption, which is leading to higher spending on veterinary services and equipment, thereby boosting the market.

North America

• The North American market is heavily influenced by the presence of major players such as IDEXX Laboratories and Zoetis, which are continuously innovating in diagnostic and therapeutic equipment, enhancing the overall quality of veterinary care.
• Recent regulatory changes, including the FDA's increased scrutiny on veterinary pharmaceuticals, are pushing companies to invest in more compliant and safer veterinary equipment, thereby improving market standards.

Middle East And Africa

• In the Middle East, government initiatives aimed at improving animal health standards, such as the UAE's National Strategy for Animal Health, are driving investments in veterinary infrastructure and equipment.
• The African veterinary market is witnessing growth due to partnerships with organizations like the World Organisation for Animal Health (OIE), which are focused on enhancing veterinary services and equipment availability in rural areas.

Did You Know?

“Did you know that the global veterinary equipment market is expected to see a significant increase in demand for minimally invasive surgical tools, as they offer quicker recovery times for animals?” — Market Research Future

Segmental Market Size

The veterinary equipment and disposables market is an important segment within the veterinary health care industry, and is currently experiencing steady growth as a result of increasing pet ownership and rising awareness of animal health issues. The development of veterinary technology, such as telemedicine and minimally invasive surgery, has also had a positive impact on the market. The resulting need for more advanced equipment and disposables is a key driver of the market. IDEXX Laboratories and Zoetis are among the companies currently leading the market with the introduction of diagnostic and surgical tools. The main applications for veterinary equipment and disposables are in the fields of examinations, emergency care and surgery. In these instances, it is essential that high-quality disposables are used to ensure the necessary hygienic standards and prevent infection. The increasing focus on sustainability and the pandemic of COVID are also driving the market, as veterinary practices adopt new health care practices. These include the use of cloud-based practice management systems and diagnostic tools based on artificial intelligence.

Future Outlook

VETERINARY DISPOSABLES MARKET SET TO GROW STEADY BY CAGR OF 2.67% FROM 2024 TO 2032. This growth will be supported by the rising pet ownership trend, which has been on the rise in recent years, resulting in a higher demand for veterinary services and, consequently, for the necessary equipment and consumables. Also, as pet owners are more concerned about the health of their animals, the market will be characterized by the increasing use of high-quality diagnostic and therapeutic equipment, which will lead to the improvement of veterinary care. Technological advances, such as the integration of telemedicine into veterinary practices and the development of new diagnostic tools, will also drive the growth of the market. The rising awareness of zoonoses and the growing demand for preventive care will also drive the demand for veterinary consumables. The growing use of minimally invasive surgical procedures and the growing demand for personalized veterinary medicine will also play a significant role in the development of the market. The veterinary industry will continue to develop, and the companies operating in it must be able to quickly respond to changes in the market and seize the opportunities that will arise.