North America captured the largest market share in overall veterinary capital equipment market in 2016. Further, North America is expected to continue its dominance over the forecast period. Rising number of pet veterinary practitioners in the region are likely to considerably increase the demand for veterinary capital equipment. U.S. is witnessing the augmented demand for veterinary capital equipment. Asia Pacific is also expected to showcase significant growth in the veterinary capital equipment market. Growing adoption of companion animals and rising number of veterinary clinics in the region is expected to escalate the demand for the veterinary capital equipment.
Global veterinary capital equipment market is expected to flourish at a significant CAGR over the forecast period. Increasing prevalence of animal diseases coupled with rising number of veterinary hospitals and clinics are likely to fuel the demand for the veterinary capital equipment market. Moreover, the global Veterinary Capital Equipment market is expected to garner noteworthy revenue by the end of 2024.
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The global veterinary capital equipment market is segmented into product type such as veterinary anesthesia, surgical lights, veterinary monitors, veterinary tables, veterinary telemetry systems, autoclaves & sterilizers, centrifuges, defibrillators, dental equipment, electrosurgical equipment, endoscopic equipment, equine equipment, incubators, infusion pumps, medical gas, microscopes, respiratory ventilators, stainless steel, X-ray imaging, syringe pumps, ultrasonography machines & equipment, warming units, suction machines and c-arms. Increasing number of veterinary clinics and hospitals across the globe is propelling the demand for veterinary capital equipment market. Moreover, rising expenditure on pet healthcare is expected to accelerate the growth of the veterinary capital equipment market in the upcoming years.
Increasing Number of Veterinarians in the World
Growth in the number of veterinarians in the world is believed to impel the demand for veterinary capital equipment during the forecast period. For instance, according to American Veterinary Medical Association, in U.S., the number of veterinarians increases from 92,547 in 2011 to 107,995 in 2016. Further, the number of veterinarians is expected to increase across the globe which is expected to drive the growth of the veterinary capital equipment market.
Rising Number of Pet Parents
Number of pet parents or pet owners who consider pet as a part of their family has grew significantly in the past few years. For e.g., As per PetSecure, more than 90% of the Americans consider pets as a part of their family. Further, pet owners are spending more on the healthcare of pets due to their strengthening bond. This factor is anticipated to positively impact the growth of the veterinary capital equipment market.
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However, high cost of veterinary capital equipment is expected to hamper the growth of the global veterinary capital equipment market.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global veterinary capital equipment market which includes company profiling of Medtronic Plc., Sunburn Surgical Co., Inc., Mila International Inc., Jorgen Kruuse A/S, Digicare Biomedical Technology, Inc., Vetland Medical Sales and Services LLC, Hallowell Engineering & Manufacturing Corporation, DRE Veterinary, Midmark Corporation, Jorgensen Laboratories and MWI Veterinary Supply Co. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the Global veterinary Capital equipment market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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