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Increase in companion animal population is a significant factor driving global veterinary equipment and supplies market revenue growth

VANCOUVER, B.C, CANADA, May 23, 2023 /EINPresswire.com/ -- According to the most recent analysis by Emergen Research, the size of the global market for veterinary equipment and supplies is anticipated to reach USD 3.76 billion in 2030, with a consistent revenue CAGR of 8.1%. An increase in the population of companion animals is one of the key drivers behind this market's enhanced revenue growth.

For instance, data show that pet ownership has recently risen to new heights. Seventy percent of homes have pets, according to a 2021–2022 American Pet Products Association (APPA) research. Almost 30% of Americans adopted at least one pet during the COVID-19 pandemic. Nearly 3 million dogs enter shelters annually, but more than 4.1 million are adopted. The need for veterinary supplies and equipment increases along with the increase in companion animal populations.

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In recent years, pet wearable technology has gained popularity. Tracking a pet's movements, including activity, sleep, and sleep quality, is possible with wearable collar gadgets. By monitoring their health behaviours, people can analyse how habits like scratching change in response to diet and quantify the symptoms of diseases like dermatitis. Smart pet technology that measures behaviours like shaking or scratching could help with the early diagnosis of skin conditions so that owners can make the necessary nutritional adjustments. Even when the pet parent is not at home, smart technology can supply data, and it can even give veterinarians a more complete picture of a pet's health. Numerous companies are steadfastly attempting to improve this industry's capabilities, which is boosting market revenue.

Some Key Highlights From the Report:

HT BioImaging and Companion Animal Health announced a strategic partnership on March 22, 2022, to co-brand and distribute the HTVet product exclusively in the United States and Canada. The partnership includes an equity investment. Companion Animal Health is a global animal health company with a focus on laser and rehabilitation therapies. HTVet enables the non-invasive, immediate detection of suspected cutaneous and subcutaneous masses at the point of service.

Due to the rising usage of consumables for numerous applications, including airway management, wound therapy, reproduction, gastroenterology, and others, the critical care consumables segment is anticipated to account for the biggest revenue share over the forecast period. Leading market companies' efforts at ongoing product development and the introduction of new products are other factors boosting market revenue growth.

Throughout the projected period, the diagnostic, monitoring, and therapy segment is anticipated to post a consistent revenue CAGR. Animal health benefits from veterinary diagnostics because they allow for quicker diagnosis and treatment planning and allow for the early detection of health problems before they become critical. By spotting patterns in wellness data that human specialists might miss, digital diagnostics unlock the technology's preventative potential and open up new avenues for early disease detection. The ability to identify risk trends in ever-growing data quantities is improved by the use of artificial intelligence and other cutting-edge techniques, which boosts market revenue.

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Market Overview:

The report bifurcates the Veterinary Equipment and Supplies market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.

Emergen Research has segmented the global veterinary equipment and supplies market on the basis of type, application, animal type, end-use, and region:

Type Outlook (Revenue, USD Billion; 2019–2030)

Critical Care Consumables

Anesthesia Equipment

Fluid Management Equipment

Temperature Management Equipment

Patient Monitoring Equipment

Research Equipment

Rescue and Resuscitation Equipment

Application Outlook (Revenue, USD Billion; 2019–2030)

Surgical Application

Diagnosis, Monitoring, and Therapy

Animal Type Outlook (Revenue, USD Billion; 2019–2030)

Small Animals

Large Animals

Others

End-Use Outlook (Revenue, USD Billion; 2019–2030)

Veterinary Clinics

Veterinary Hospitals

Veterinary Research Institutes

The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Veterinary Equipment and Supplies market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.

Some major companies in the global market report include Braun SE, Covetrus, BD, Cardinal Health, Neogen Corporation, Integra LifeSciences, Midmark Corporation, Jorgensen Labs, Shenzhen Mindray Animal Medical Technology Co., LTD., and Nonin.

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The research report offers a comprehensive regional analysis of the market with regards to production and consumption patterns, import/export, market size and share in terms of volume and value, supply and demand dynamics, and presence of prominent players in each market.

Regional Analysis Covers:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Research Report on the Veterinary Equipment and Supplies Market Addresses the Following Key Questions:

Who are the dominant players of the Veterinary Equipment and Supplies market?

Which regional market is anticipated to have a high growth rate over the projected period?

What consumer trends and demands are expected to influence the operations of the market players in the Veterinary Equipment and Supplies market?

What are the key growth drivers and restraining factors of the Veterinary Equipment and Supplies market?

What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?

What is the overall impact of the COVID-19 pandemic on the Veterinary Equipment and Supplies market and its key segments?

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