Major companies in the veterinary medical equipment market include Carestream Health, IDEXX Laboratories Inc. , Agfa Healthcare, MinXray Inc. , and Diagnostic Imaging Systems. The global veterinary medical equipment market is expected to grow from $2.
New York, May 26, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Veterinary Medical Equipment Global Market Report 2022" - https://www.reportlinker.com/p06281015/?utm_source=GNW
02 billion in 2021 to $2.23 billion in 2022 at a compound annual growth rate (CAGR) of 10.7%. The market is expected to grow to $3.18 billion in 2026 at a compound annual growth rate (CAGR) of 9.2%.
The veterinary medical equipment market consists of sales of veterinary medical equipment and related services by entities (organizations, sole traders, and partnerships) that produce veterinary medical equipment used in the diagnosis, monitoring, and treatment of medical conditions in animals. This industry includes establishments that produce veterinary surgical equipment such as endoscopic systems, dental equipment, veterinary telemetry services, and others.
The main types of veterinary medical equipment are veterinary diagnostic equipment, veterinary anesthesia equipment, veterinary patient monitoring equipment, other veterinary medical equipment that are used for the animals such as small companion animals, large animals, other animals.Veterinary anesthesia equipment refers to the equipment that is used for the animals to provide anesthesia.
The products used are instruments/equipment, and disposables. These are used in veterinary hospitals, veterinary clinics, and research institutes.
North America was the largest region in the veterinary medical equipment market in 2021.Asia Pacific was the second-largest region in the veterinary medical equipment market.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The global economy is expected to go through a continued period of steady growth during the forecast period.The USA economy showed steady growth during the historic period, and this is likely to continue during the forecast period.
Emerging markets reached4.8% in 2020 versus 3.6%. The continued economic growth is expected to contribute to increased standards of living of the global population and strengthen the presence of the middle class. Increased standards of living and strengthened middle class will further drive the demand for improved nutrition, particularly animal protein, and increase focus on food quality and safety, supporting the growth of the animal medicine market in terms of feed additives. Thus, economic growth is expected to drive this market
The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the veterinary medical equipment market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally.COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing.
The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and spread globally including Western Europe, North America, and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity with countries entering a state of ’lock down’ and the outbreak hurt businesses throughout 2020 and into 2021. However, it is expected that the veterinary medical equipment market will recover from the shock across the forecast period as it is a ’black swan event and not related to ongoing or fundamental weaknesses in the market or the global economy
Advances in diagnostic tools have improved veterinary services.Equipment such as portable x-ray and portable ultrasound scanners have increased the efficiency of veterinary treatment (especially in emergencies due to injury) for all equine/large animals, companions, exotic and mixed animal practices.
For example, Wristscan V9, a diagnostic device, is being used for pregnancy tests for animals. Also, the Alivecor app integrated with iPhone is used to perform electrocardiograms in animals for cardiologist review.
The countries covered in the veterinary medical equipment market include Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam.
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