Veterinary Equipment Market Size, Share, Growth Analysis, By Equipment Type(Critical Care Consumables, Anesthesia Equipment, Fluid Management, Equipment), By Animal Type(Small Animals, Large Animals, and Others), By Region - Industry Forecast 2024-2031

Veterinary Equipment Market was valued at USD 1.76 billion in 2022 and is poised to grow from USD 1.91 billion in 2023 to USD 3.64 billion by the year 2031, at a CAGR of 8.40% during the forecast period (2024-2031).

The market under investigation is moderately consolidated, and most of the major international firms have previously dominated it. It is thought that increased corporate investment in veterinary health will open up the market for more businesses. Additionally, businesses have been using expansion and collaboration strategies to capture market share in developing regions as a result of the rising adoption of animals in developing nations. 'Henry Schein Inc.', 'IDEXX Laboratories Inc.', 'Agfa-Gevaert N.V.', 'DRE Veterinary', 'Midmark Corporation', 'Mindray Medical International Limited', 'VCA Antech Inc.', 'B. Braun Melsungen AG', 'Medtronic Plc', 'Jorgensen Laboratories', 'Covetrus Inc.', 'Vetland Medical Sales & Services LLC', 'Heska Corporation', 'Digicare Biomedical Technology Inc.', 'Vetamac', 'Jaken Medical Inc.', 'Charles River Laboratories International Inc.', 'Smiths Medical', 'Scil Animal Care Company GmbH', 'Grady Medical Systems Inc.', 'In February 2024, ADM Tronics, an innovator in medical and therapeutic technology, completed extensive R&D and commenced production of its Vet-Sonotron non-invasive pain treatment device for the veterinary market. The Vet-Sonotron has demonstrated remarkable results treating musculoskeletal pain. ', 'In January 2024, SunTech introduced the Vet40 surgical vital signs monitor for companion animals. This new monitor will expand on the features of the clinically validated SunTech Vet BP products.  ', 'In June 2023, medical equipment provider Medray acquired Molloy Veterinary, a Longford-based supplies business. Medray has specialist divisions providing equipment and support services for the radiography, dental and veterinary sectors.'

In light of a variety of variables, including an increase in pet ownership, an increase in the prevalence of animal diseases, and an increase in the number of animals, the market for animal equipment is predicted to expand. The market potential for animal equipment is also being driven by increasing demand for meat and products derived from animals, accessibility and affordability of treatment, and growing awareness of animal health & welfare.

Smartwatches and other similarly linked technology are instances of newer technologies and improvements that can benefit the health of all types of pets, from young to old. By enabling veterinarians to monitor the results of their treatment suggestions round-the-clock, wearable technology expands their influence beyond the confines of their clinic. Radio frequency identification, GPS, and sensors are samples of wearables for patient monitoring that have been used for animals. Animal physical health monitoring has increased including the rate at which surgeries are performed on animals. This includes keeping track of the patient's heart rate, respiration rate, blood pressure, oxygen saturation, capillary refill time, etc.

North America contributed 30% share in the veterinary equipment market in 2022 and emerged dominant. This is credited to a wide range of practical solutions done by governmental animal welfare organisations that consistently work to improve animal health. Additionally, the rise of the animal healthcare market in this region is projected to be fueled by technology advancements, an increase in pet ownership, and an increase in the frequency of zoonotic diseases.