Regional Insights
On the basis of region, the
global Veterinary
Equipment and Disposables Market is segmented into North America, Latin
America, Europe, Asia Pacific, Middle East, and Africa. North America holds a
dominant position in the global veterinary equipment and disposables market and
is expected to retain its dominance over the forecast period. This attributes
to high incidence of chronic animal diseases such as cancer as well as rising
investments in animal healthcare. For instance, according to the Animal Cancer
Foundation, 2015, around 65 million dogs and 32 million cats live in the U.S. and
around 6 million new cancer cases in dogs and cats are reported every year. The
data also suggests that one-third of all tumors in dogs are skin tumors, while
around 20% are mast cell tumors. Moreover, in 2017, the Blue Buffalo Foundation
granted US$ 1 Mn to the Animal Cancer Foundation for the Canine Cancer Genome
Project to map the tumor genomes and develop effective therapies.
Furthermore, Asia Pacific is
expected to witness a significant growth in the market, owing to rising
incidence of infectious animal and livestock diseases that are leading to
rising demand for treatment options. According to the Global Animal Disease
Intelligence Report 2015, 157 outbreaks of serotype O were reported in
different cities of Republic of Korea, primarily in pig farms cattle and goats.
Moreover, the players in the Asia Pacific region are targeting international
markets to create a significant position in the global market. For instance, in
February 2017, Samsung Electronics in collaboration with Henry Schein, Inc. introduced
PT10V, point-of-care (PoC) blood analyzer for animal blood tests at the North
American Veterinary Community (NAVC) Conference in Orlando, Florida.
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Veterinarians use a range of
tools to perform dressing of the wounds, check-up of vets, collect bodily
fluids, and perform various surgeries on the animals. Tools such as surgical
clamps, microscopes, saws, pin drivers, suction machines, and catheters are
frequently used in surgeries, however, vets also use equipment that are
designed specifically for animals. These specialized equipment include electric
and manual razors that are used to remove hair from furry animals to perform
surgical procedures on them. Other specialized tools include snook hooks,
curved hooks, hemostats, and tourniquets. The veterinarians use equipment that
are similar to the ones used by physicians adapted to the needs of their animal
patients. Modern veterinary equipment includes tools ranging from simple
surgical instruments and disposables such as needles and blades to high
technology equipment with imaging capabilities. Specialized veterinarians
provides specialized services such as assistance for reproduction through
insemination, which can be achieved through the ultrasound procedures,
insemination equipment, and blood and fertility tests. The advanced equipment
used by the veterinarians include cold laser treatment machines,
photo-biotherapy machines, surgical lasers, and others.
Market Dynamics
Rising incidence of animal
related disorders coupled with increasing investments in veterinary healthcare
is expected to drive growth of the veterinary equipment and disposables market.
Chronic conditions such as pet cancer, foot and mouth disease, and lumpy skin
disease are among the most commonly encountered chronic animal and livestock
diseases in the world. According to the Veterinary Cancer Society, 2016, cancer
is the leading cause of death in around 47% of the dogs diagnosed with cancer
over the age of 10 and 32% of the cats, where Feline Leukemia Virus (FeLV) was
one of the leading cause of lymphoma in cats. According a report published by
the Royal Veterinary College, University of London, around 3,884 dogs were
treated with anal sac impaction procedures in London in 2013.
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Moreover, the rising investment
in animal healthcare is leading to development of innovative technologies such
as disposable veterinary infusion pumps for delivering various medical dosage
of therapeutics to the pets. For instance, Body Guard 121 Twins introduced in
2011 for vet consists of two independent channels that extend the therapeutic
range of option, as the device allows to set up fast high volume rapid
infusions, mix two different infusion solutions for an animal or infuse to two
different animals from one device. However, lack of accuracy in these devices
such as software problems, alarm errors, and inadequate user interface design
are expected to hinder the market growth.
Competitive Landscape
Key players operating in the
global veterinary equipment and disposables market include Medtronic Plc,
Smiths Medical, 3M Company, Digicare Biomedical Technology, Inc., Vetland
Medical Sales and Services LLC, DRE Veterinary, Midmark Corporation, Mila
International, Inc., Hallowell Engineering and Manufacturing Corporation, and
others. Market players are focused towards adopting strategic collaborations to
develop innovative products and cater to the demand of veterinarians to treat
various diseases in animals. For instance, in February 2016, Analogic Corporation
in collaboration with Oncura Partners Diagnostics LLC developed a cloud-based
ultra-sound Telehealth service that applied real-time remote ultrasound imaging
and services to the veterinary market.
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