Veterinary Medical Equipment Market Projected to Reach $4.86 Billion with 7.6 CAGR by 2029

Veterinary Medical Equipment Global Market Report 2025

The Business Research Company's Veterinary Medical Equipment Global Market Report 2025 – Market Size, Trends, And Global Forecast 2025-2034

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What Is The Expected Cagr For The Veterinary Medical Equipment Market Through 2025?
The market for veterinary medical equipment has significantly expanded in the past few years. This market is predicted to increase from a worth of $3.38 billion in 2024, to $3.63 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 7.4%. Factors contributing to this growth during the historic period include a rise in pet ownership among generation X and Y adults, higher spending on pets, and an increase in disease incidence.

The market for veterinary medical equipment is projected to experience substantial growth over the next few years, escalating to a $4.86 billion valuation by 2029. This equates to a compound annual growth rate (CAGR) of 7.6%. The expansion during the forecast period can be attributed to factors such as rising adoption of pets, enhanced efficacy of veterinary treatments with portable x-ray and ultrasound devices, improved standard of living, fortification of the middle class, heightened awareness around pet vaccinations, and the legal mandates for microchipping. Key trends predicted within the forecast period include the need for veterinary diagnostic providers to invest in advanced technologies for quicker disease detection, the influence of the rapid upsurge in pet adoption on the market growth, urging providers to adopt molecular biology for early disease detection. Additionally, given the benefits wearable technology can provide farmers and veterinarians for monitoring crucial health parameters in animals, investment in such technologies is advisable. Lastly, companies are encouraged to make use of 3D printers for the personalization and versatility of veterinary supplies.

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What Are The Key Factors Driving Growth In The Veterinary Medical Equipment Market?
The surge in pet ownership is anticipated to propel the growth of the veterinary medical equipment market. The underlying factors for this surge in pet ownership are predominantly increasing disposable incomes, an enhanced understanding of the mental and physical benefits accruing from pet companionship, as well as the evolving societal norms that consider pets as essential family members. Individuals or families owning pets, termed as pet ownership, relies heavily on veterinary medical equipment like home diagnostic kits and mobile monitoring tools. These tools enable them to effectively oversee their pets' health, encourage early disease detection and assure prompt vet care. For example, in October 2024, the American Veterinary Medical Association, a nonprofit professional body, projected that the total dog-owning households in the U.S would escalate to 59.8 million in 2024, comprising 45.5% of all U.S households. Simultaneously, the number of cat-owning households would also increase to 42.1 million in 2024, contributing to 32.1% of all U.S households. Hence, this increase in pet ownership is stimulating the expansion of the veterinary medical equipment market.

What Are The Top Players Operating In The Veterinary Medical Equipment Market?
Major players in the Veterinary Medical Equipment include:
• Covetrus Inc.
• IDEXX Laboratories Inc.
• Integra LifeSciences Corporation
• Mindray Medical International Limited
• Midmark Corporation
• Smiths Group plc
• Carestream Health
• Agfa-Gevaert Group
• Nonin Medical
• B. Braun Vet Care GmbH

What Are The Main Trends, Positively Impacting The Growth Of Veterinary Medical Equipment Market?
Progress in diagnostic devices has enhanced the efficacy of veterinary care. The implementation of technologies such as mobile x-ray and portable ultrasound scanners has amplified the success of veterinary treatments, particularly in emergency cases involving injury, for all equine/large animals, pets, exotic species, and mixed animal treatments. For instance, the Wristscan V9, a diagnostic tool, is employed in conducting pregnancy tests on animals. Also, the Alivecor application for iPhone is utilized in conducting electrocardiograms on animals for analysis by a cardiologist.

Comprehensive Segment-Wise Insights Into The Veterinary Medical Equipment Market
The veterinary medical equipment market covered in this report is segmented –
1) By Type: Veterinary Diagnostic Equipment, Veterinary Anesthesia Equipment, Veterinary Patient Monitoring Equipment, Other Veterinary Medical Equipment
2) By Product: Instruments/Equipment, Disposables
3) By Animal Type: Small Companion Animals, Large Animals, Other Animals
4) By End User: Veterinary Hospitals, Veterinary Clinics, Research Institutes

Subsegments:
1) By Veterinary Diagnostic Equipment: X-Ray Systems, Ultrasound Systems, Magnetic Resonance Imaging (MRI) Systems, Computed Tomography (CT) Scanners, Endoscopy Devices
2) By Veterinary Anesthesia Equipment: Anesthesia Machines, Ventilators, Vaporizers, Gas Delivery Management Systems, Waste Gas Management Systems
3) By Veterinary Patient Monitoring Equipment: ECG Monitors, Blood Pressure Monitors, Respiratory Monitors, Temperature Monitors, Multiparameter Monitors
4) By Other Veterinary Medical Equipment: Surgical Instruments, Infusion Pumps, Dental Equipment, Laboratory Equipment

View the full veterinary medical equipment market report:
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Global Veterinary Medical Equipment Market - Regional Insights
In 2024, North America led the market for veterinary medical equipment, with Asia-Pacific following closely as the second biggest player. The study on the veterinary medical equipment market explored regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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