Veterinary Equipment Disposables Market Size, Share & Trends Analysis Report By Product (Critical Care Consumables, Anesthesia Equipment, Fluid Management Equipment, Temperature Management Equipment, Rescue and Resuscitation Equipment, Research Equipment, Patient Monitoring Equipment), By Animal Type (Livestock Animal, Companion Animal), By End-User (Veterinary Hospitals/Clinics, Research Institutes) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2023-2031

Market Overview

The global veterinary equipment disposables market size was valued at USD 2.31 billion in 2022. It is estimated to reach USD 4.65 billion by 2031, growing at a CAGR of 8.1% during the forecast period (2023–2031).

Veterinary equipment disposables refer to a wide range of single-use medical products and devices specifically designed for veterinary medicine. These disposable items are used in various veterinary procedures, treatments, surgeries, and diagnostic tests to ensure a safe and hygienic environment for animals and veterinarians. Veterinary equipment disposables include syringes, needles, surgical drapes, gowns, gloves, catheters, wound dressings, suture materials, specimen containers, laboratory consumables, and other disposable supplies. These products are made from sterile materials and are intended for one-time use to prevent cross-contamination and the spread of infectious diseases between animals.

Disposable veterinary equipment has several benefits. Firstly, it eliminates the need for cleaning, sterilization, and maintenance after each use, saving time and resources for veterinary practices. Second, it lessens the chance that an infection will spread, protecting the security and welfare of animals and veterinary professionals. Disposable equipment also provides consistent performance and eliminates the possibility of equipment malfunction or degradation over time. Veterinary professionals rely on disposable equipment to maintain high care standards, minimize contamination risk, and ensure efficient and safe veterinary procedures.

Highlights

• Critical care consumables dominate the products segment.
• Companion animal dominates the animal type segment.
• Veterinary hospitals/clinics dominate the end-user segment.
• North America is the highest shareholder in the global market.

Market Dynamics

Global veterinary equipment disposables market drivers

Rising demand for animal insurance

Increasing the adoption of pets and the prevalence of feline- and dog-related diseases are among the major factors driving this market. The market is expected to grow soon because more people are getting pet insurance to help limit out-of-pocket costs for serious medical problems like accidents. Moreover, the increasing incidence of diseases in animals and the high cost of treatment are among the factors fueling the demand for pet insurance. The cost of diagnosis pushes up treatment costs further, driving up market growth.

Additionally, the high cost of animal treatment drives the demand for pet insurance. The cost of diagnostic procedures, such as imaging and laboratory testing, can be high, and the price of therapy can rise even more. Pet insurance helps mitigate the financial burden on pet owners, making veterinary care more accessible and affordable. This drives the demand for veterinary equipment disposables as they are integral to diagnosing and treating various animal diseases and conditions.

Rising number of veterinary surgeries

The market for veterinary equipment disposables is expected to experience growth in developing countries because of the rise in the number of surgeries on animals. Surgical procedures are becoming more common in veterinary practices, addressing various health conditions and improving the well-being of pets. Dental surgeries, cataract removal, hip dysplasia treatments, spaying or neutering, and wound repairs are among pets' most prevalent surgical procedures. The increasing number of surgical procedures performed on pets in developing countries, driven by the rising awareness of pet health and the prevalence of obesity-related conditions, is also expected to drive the growth of the veterinary equipment disposables market. Veterinary practices are witnessing a higher demand for disposable surgical supplies to meet the needs of these procedures and ensure the safety and well-being of the animals undergoing surgery.

Global veterinary equipment disposables market restraint

Lack of awareness

In countries such as Indonesia and Vietnam, pets are not that common, although the trend is changing among the younger generation. According to AsiaLIFE, the pet industry is an emerging market in Vietnam. The first license for a pet retail shop was issued just a decade ago, and pet owners are not aware of the health of their pets or available treatment options. This is expected to limit market growth. Similarly, low literacy rates and limited income affect awareness about livestock health and possible treatment options in rural areas of developing economies in the Asia-Pacific region, which is predicted to restrain market growth during the forecast period.

Global veterinary equipment disposables market opportunity

Growing animal healthcare expenditure

Growing animal healthcare expenditure presents a significant opportunity for the global veterinary equipment disposables market. As pet owners place increasing importance on the health and well-being of their animals, they are willing to spend more on veterinary services, including diagnostics, treatments, and surgeries. This rise in animal healthcare expenditure directly translates into higher demand for veterinary equipment disposables. In addition, the human-animal bond has grown stronger, and pets are now considered family members. As a result, pet owners are more willing to invest in their pets' healthcare needs, including preventive care, regular check-ups, and specialized treatments.

Additionally, advancements in veterinary medicine and technology have expanded the range of available animal diagnostics and treatment options. This includes sophisticated imaging equipment, surgical instruments, and other disposable supplies. Pet owners increasingly opt for advanced procedures and treatments requiring disposable equipment to ensure safety, hygiene, and infection control. Such factors create opportunities for market growth over the forecast period.

Regional Analysis

North America Dominates the Global Market

Based on region, the global veterinary equipment disposables market is bifurcated into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.

North America is the most significant global veterinary equipment disposables market shareholder and is estimated to exhibit a CAGR of 7.51% over the forecast period. North America had the most sales of medical tools and supplies and brought in the most money. This can be attributed to its well-established veterinary healthcare infrastructure, increasing companion animals, growing healthcare expenditure, and focus on animal illnesses. However, many authorities recommend that elective surgeries be avoided in animals, resulting in a decline in postoperative wounds during the COVID-19 pandemic. This is expected to impact market growth. The region has witnessed a rise in veterinary healthcare expenditure, fueling market growth. In addition, the presence of primary market players, such as Smiths Medical and Nonin Medical, Inc., product innovations, several animal associations, and rising awareness about animal health are among the factors contributing to market growth in the region.

Additionally, North America's dominance in the market for veterinary equipment and disposables can be attributed to its well-established veterinary healthcare infrastructure, increasing companion animal population, growing healthcare expenditure, and the presence of key market players. Even though the COVID-19 outbreak had short-term effects, the region continues to witness steady growth in the demand for veterinary equipment and disposables, driven by the rising awareness about animal health and the importance of veterinary care.

Europe is expected to exhibit a CAGR of 6.9% over the forecast period. Enhanced veterinary health processes and deep veterinary healthcare concerns in the region are among the factors boosting the market growth. Veterinary medical devices are not regulated at the E.U. level. The only exception is if they form part of a medicinal product the European Medicines Agency assessed. Businesses should contact the relevant national authorities of the member state in question for accreditation and to put veterinary medical devices on the market. In addition, major players in the Europe market are employing various growth strategies, such as collaborations, mergers, and acquisitions, to enhance their market presence. For instance, in June 2021, Veterinary Instrumentation revealed that its business is expanding into the U.S. market. This initiative is expected to enhance the potential for substantial growth in the North American region. The United Kingdom is home to Veterinary Instrumentation's main office.

In Asia-Pacific, the veterinary equipment and disposables market is expected to witness lucrative growth due to the growing practice of pet adoption, increasing vigilance about animal health, intensifying livestock population, developing urbanization, and rising per capita animal health spending. In addition, rising R&D investment by market players and veterinary companies to develop value-added products is anticipated to boost the area's veterinary tools and supplies business. More veterinary hospitals and centers are being built in places like China and Japan, also helping the market grow.

The Latin American veterinary equipment and disposables market is witnessing steady growth driven by factors such as the large pet population, humanization of pets, improving veterinary healthcare infrastructure, rising incidence of health disorders, supportive government funding, and untapped opportunities in developing economies. As the region continues to prioritize animal health and welfare, the demand for advanced veterinary equipment and disposables is expected to rise, presenting opportunities for market expansion.

The Middle East and Africa is expected to demonstrate slow growth compared to other markets, owing to comparatively poor medical facilities and slow development in healthcare infrastructure. The market consists of countries such as South Africa and Saudi Arabia, which are high-potential markets in the region. Moreover, favorable initiatives governments of these nations undertake to adopt better healthcare equipment in veterinary hospitals and clinics and the slowly growing focus of major market players in the Middle East and Africa region are anticipated to fuel market growth.

Segmental Analysis

The global veterinary equipment disposables market is bifurcated into products, animal types, and end-user.

Based on products, the global veterinary equipment disposables market is bifurcated into critical care consumables, anesthesia equipment, fluid management equipment, temperature management equipment, rescue and resuscitation equipment, research equipment, and patient monitoring equipment.

The critical care consumables segment dominates the global market and is predicted to exhibit a CAGR of 6.9% over the forecast period. The sector for critical care consumables is anticipated to hold the largest market share in 2022, owing to its high usage in all types of veterinary procedures. Respiratory illnesses are common in canines and felines. Although coughing and dyspnea may usually occur due to primary problems of the respiratory tract, they may also appear secondary to conditions of other organ systems (e.g., congestive heart failure). Both young and old animals are at increased risk of developing respiratory illness, which is expected to support segment growth during the forecast period.

Additionally, multiple healthcare settings offer critical care services across the globe. For instance, in November 2019, CK Ranganathan, founder-chairman of CavinKare, announced a personal venture in the animal wellness field by opening a multi-specialty veterinary hospital, Sanchu Animal Hospital, in Chennai, India. The hospital would offer emergency, critical care, and dermatology services. Critical care consumables are further classified into airway management consumables, wound management consumables, gastroenterology consumables, needles, fluid administration and therapy consumables, accessories, and others.

Based on products, the global veterinary equipment disposables market is bifurcated into livestock animals and companion animals.

The companion animals segment owns the highest market share and is predicted to exhibit a CAGR of 7.1% over the forecast period. The rising companion animal population and growing focus on pet care and wellness by pet owners contribute to the segment's growth. The major share is attributable to the increasing number of surgeries on companion animals. Growing awareness and campaigns for animal rescue initiatives are boosting the revenue of the equipment market. For instance, in March 2020, Smokey Paws collaborated with British Animal Rescue and Trauma Care Association (BARTA). This collaboration will provide critical care treatment to small animals and will provide specialized animal oxygen masks for crucial care in case of smoke inhalation. In addition, the growing trend of keeping pets is anticipated to accelerate market growth. The companion animal market has been witnessing rapid growth. Pet ownership has increased from 56% to 67% in all households in the last thirty years, and nearly 85 million households have a pet, according to American Pet Products Association.

Based on end-user, the global veterinary equipment disposables market is bifurcated into veterinary hospitals/clinics and research institutes.

The veterinary hospitals/clinics segment dominates the global market and is predicted to exhibit a CAGR of 7.01% over the forecast period. The veterinary hospitals and clinics sector has emerged as the dominant segment in the global veterinary equipment and disposables market, contributing to substantial revenue in 2022. This sector's growth can be attributed to various factors highlighting its importance in the veterinary healthcare landscape. In addition, one significant factor driving the dominance of veterinary hospitals and clinics is the availability of various treatment options. These facilities offer comprehensive veterinary care, including surgeries, diagnostics, vaccinations, and preventive care. A diverse array of disposable products is required to support these medical procedures, such as surgical instruments, drapes, syringes, and wound care products. The extensive range of treatment options provided by veterinary hospitals and clinics fuels the demand for veterinary equipment disposables.

Recent Developments

• January 2023- Smiths Medical announced the launch of its new line of veterinary surgical instruments. The instruments are designed for various veterinary procedures, including spaying, neutering, and dental extractions.
• February 2023- 3M announced the launch of its new line of veterinary wound care products. The products are designed to help prevent and treat infections in veterinary wounds.