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Veterinary Disposables Global Market Report 2022
Major players in the veterinary disposables market are Mindray Medical International Limited, Smiths Group PLC, B. Braun Melsungen AG, Henry Schein, DRE Veterinary, Midmark Corporation, Jorgensen Laboratories, BD, Cardinalhealth, and Medtronic.
New York, May 26, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Veterinary Disposables Global Market Report 2022" - https://www.reportlinker.com/p06281023/?utm_source=GNW
The global veterinary disposables market is expected to grow from $0.29 billion in 2021 to $0.34 billion in 2022 at a compound annual growth rate (CAGR) of 14.9%. The market is expected to grow to $0.56 billion in 2026 at a compound annual growth rate (CAGR) of 13.1%.
The veterinary disposables market consists of sales of veterinary disposables by companies that manufacture veterinary disposables. Veterinary disposables are products that are meant for single-use, used for the treatment of diseases in animals.
The main types of veterinary disposables are critical care consumables, wound management consumables, fluid administration and therapy consumables, airway management consumables, gastroenterology consumables, needles, and other types.Gastroenterology consumables are used in the treatment of diseases of the esophagus, stomach, small intestine, colon and rectum, pancreas, gallbladder, bile ducts, and liver.
The products are used in small animals, large animals, and other animal types that are available in veterinary clinics, veterinary hospitals, research institutes, and other end users.
North America was the largest region in the veterinary disposables market in 2021.Asia Pacific was the second-largest region in the veterinary disposables market.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Increased pet ownership by Gen X and Gen Y adults contributed to the growth of the veterinary disposables market during the historic period.According to the APPA, millennials, or Gen Y represents the largest segment of pet owners for all types of pets.
More than 80% of Gen Y and Gen Z own a dog and 50% or less own a cat as a pet.Multiple pet ownership is also on the rise in some parts of the world.
According to the 2019-2020 APPA National Pet Owners Survey, 67% of US households own pets, which is equal to 84.9 million homes. Pet owners are well aware of advanced facilities and are willing to spend a large amount of money on the health of their pets. Therefore, the rise in pet ownership aids in the growth of the veterinary disposables market.
The shortage of veterinarians in underdeveloped and developing countries limited the growth of the veterinary disposables market during the historic period.The veterinary healthcare access was relatively poor in most developing countries compared to developed nations, while the animal disease burden was high in low- and middle-income countries.
As of 2019, there were only 918 veterinary surgeons in Chandigarh, India as against the required 1,122 veterinary surgeons to cater to a livestock population of 8.9 million. The low availability of veterinary healthcare services and an insufficient number of veterinary clinics and veterinarians limited the growth of veterinary disposables in many developing nations. According to USDA, in 2019, 500 provinces, which are mostly in rural areas, in the US were underserved by veterinarians, and 44 states in the U.S are facing a shortage of veterinarians. Insufficient availability of veterinary care in rural areas would impede the number of animal procedures where disposables are used, hence the scarcity of veterinarians hinders the veterinary disposables market.
Companies in the veterinary disposables industry are increasingly investing in mergers and acquisitions with other players to drive product innovations.To succeed in the increasingly competitive veterinary disposables market, companies are entering into new geographies and developing innovative products through sharing skills and expertise with other players through acquisitions and mergers.
In April 2020, Heska Corporation, a US-based company that manufactures and markets products related to companion animal care, acquired Scil Animal Care for $125 million.Through this acquisition, Heska Corporation expects to expand in the European region.
Social Animal Care is a European company that specializes in the distribution of animal health laboratories and imaging diagnostic products and services.
The countries covered in the veterinary disposables market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
Read the full report: https://www.reportlinker.com/p06281023/?utm_source=GNW
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