Market Trends of Veterinary Infusion Pumps Industry
Large-volume Infusion Pumps Expected to Hold a Significant Market Share Over the Forecast Period
Large-volume infusion pumps are expected to hold a significant share of the veterinary infusion pumps market over the forecast period, driven by their increasing use for delivering fluids to animals during a blood transfusion, administering parenteral nutrition, and in emergency conditions.
These pumps can be manually operated or automatic and categorized based on weight, technology, accuracy, flow rate, battery life, and type of infusion (continuous, intermittent). For instance, a study published in May 2022 in the MDPI Journal investigated the cardiopulmonary effects and pharmacokinetics of dexmedetomidine (DEX) used as an adjunctive analgesic for regional anesthesia of the oral cavity with levobupivacaine in anesthetized dogs. During the procedure, Ringer's lactate solution was infused with an infusion pump at a rate of 5 mL/kg/hour. After the procedure, intravenous fluid therapy was administered at a rate of 2 to 6 mL/kg/hour until discharge.
The rising importance of fluid distribution achieved swiftly by large-volume infusion pumps is expected to drive the growth of this segment over the forecast period. Additionally, the emergence of animal diseases worldwide is anticipated to lead to the further adoption of large-volume infusion pumps. For example, a September 2022 article published in Frontiers demonstrated the prevalence of Brucellosis in the cattle population, especially small ruminants, through serological surveys in India. Therefore, the rise in venereal diseases in the veterinary population is likely to drive the adoption of large-volume infusion pumps over the coming years.
Moreover, technological advancements in large-volume infusion pumps are expected to contribute to the growth of this segment. For instance, in May 2022, Hawkmed, a medical equipment company, launched its latest product, the TOUCH-SCREEN Veterinary Infusion Pump-HK-T100VET. This new infusion pump is an upgrade from its HK-100VET veterinary pump, boasting a 3.5-inch TOUCH-SCREEN with an interactive user interface. This innovation provides an improved user experience for veterinary professionals administering infusion therapy to animals.
Overall, the segment studied is expected to witness growth over the coming years due to the increasing prevalence of animal diseases and the rising demand for large-volume infusion pumps.
North America Expected to Hold a Significant Market Share with its Dominance Expected to Continue Over the Forecast Period
North America is expected to hold a major market share due to the rising number of animal diseases and growing pet adoption. According to the North American Pet Health Insurance Association’s data in 2023, USD 136.8 billion was spent on pets in the United States in 2022. Hence, all these factors are found to create high growth opportunities for infusion pumps in the North American market.
Furthermore, the launch of veterinary hospitals in North America is expected to boost the regional market’s growth due to an increase in the utilization of veterinary infusion pumps. For instance, in May 2022, the University of Florida Veterinary Hospital at World Equestrian Center in Ocala opened to provide patient care to horses and small animals located on-site as well as from the local community.
Additionally, 70% of Mexican families, or roughly 21 million households, have at least one pet. The same source indicated that Mexico has one of the world's largest rates of dog adoption. Hence, with the high adoption of dogs across the country, the market for healthcare concerned with dogs is significantly high. This can potentially propel market growth over the forecast period.
Additionally, the rising instances of pet insurance in the country are also expected to boost market growth. For instance, according to the 2022 statistics published by the Insurance Information Institute, California (19.3%), New York (8.4%), and Florida (6.1%) were the three states with the highest percentage of insured pets. Thus, growing pet adoption is leading to an increase in the availability of pet insurance. Due to the availability of pet insurance, pet owners are spending more on pet healthcare. This is creating opportunities for the development and availability of advanced and innovative veterinary infusion pumps, thereby driving market growth over the forecast period.
Hence, North America is anticipated to witness growth over the forecast period due to the increase in the pet population and the rise in demand for infusion pumps in hospitals.
