Veterinary Equipment And Disposables Market Size (2024 - 2029)

Veterinary Equipment and Disposables Market Analysis

The Veterinary Equipment And Disposables Market size is estimated at USD 2.75 billion in 2024, and is expected to reach USD 3.99 billion by 2029, growing at a CAGR of 7.80% during the forecast period (2024-2029).

Market growth is driven by several factors, including the rise in animal adoption, growing animal diseases, and increased concern for animal health. Additionally, increased veterinary R&D expenditure, technological advancements, product innovation, and a rise in per capita animal health expenditure are expected to propel market growth.

The adoption of companion animals is a major factor driving market growth. For instance, according to data updated by the European Pet Food Industry Federation (FEDIAF), in July 2023, the dog population in the region was over 66.8 million, while the cat population was over 77.9 million in Europe. According to the same source, in Poland, over 49% of the households owned at least one dog, and over 40% owned a cat in 2023. In addition, the Global State of Pet Care report published by the HealthForAnimals Organization in September 2022 highlighted that over half a billion dogs and cats were adopted by families in Europe, along with the United States, Brazil, and China. Therefore, the increased adoption of pets is expected to enhance market growth during the forecast period.

The rising livestock population is also expected to boost market growth. In Australia, according to the Australian Bureau of Statistics, the beef herd increased by 1% to 22.3 million, and the sheep flock increased by 3% to 70.2 million sheep and lambs in June 2022. The rising prevalence of various animal diseases is driving market growth. For instance, canine mammary tumors were found to be the most common tumors in dogs, with a relative incidence of 46.71% in the last five years, according to a study conducted in Mainland China published in Frontiers in June 2022. Pure breeds accounted for 84.13% of the tumors, with 48.41% of the tumors being benign and 51.59% being malignant. Therefore, the rising prevalence of such diseases is expected to enhance market growth.

Furthermore, the increasing number of product launches by key market players is expected to boost market growth. In February 2024, VIC Group’s VIC Animal Health launched a new plant for producing sterile suspensions and powders used for treating farm animals. The company plans to produce 214,000 vials of sterile injectable suspensions, 660,000 anti-mastitis suspensions in syringes, and 142,000 vials of sterile powder.

Therefore, due to the abovementioned factors, such as the rising pet adoption, increasing prevalence of veterinary diseases, and increasing product launches, the market for veterinary equipment and disposables is expected to register growth during the forecast period. However, the high cost associated with animal healthcare is expected to hinder market growth.

Veterinary Equipment and Disposables Industry Segmentation

As per the scope of the report, veterinary equipment and disposables include all kinds of medical equipment, which have been intended to help diagnose, monitor, or treat various health conditions associated with animals. It also includes disposable devices or medical apparatus that have been designed for temporary or one-time use, mainly for infection control.

The veterinary equipment and disposables market is segmented by product, animals, end user, and geography. The product segment is further divided into imaging, ventilators, patient monitoring, anesthesia machines, disposables, and other products. The animal segment is further segmented into companion animals and livestock animals. The end user segment is further bifurcated into veterinary hospitals and private clinics. The geography segment is further divided into North America, Europe, Asia-Pacific, Middle East and Africa, and South America. The report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (USD) for the above segments.