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A14330 | Pages: 201 | Charts: 56 | Tables: 143 |
The global veterinary anesthesia market was valued at $145.6 million in 2021, and is projected to reach $228.8 million by 2031, growing at a CAGR of 4.6% from 2022 to 2031. Veterinary anesthesia equipment widely used for veterinary procedures includes dental procedures, imaging, and urinary catheterization. Anesthesia is given to the animals during diagnosis and surgical procedures. Anesthesia is given in many ways to animals most practitioners give anesthesia through air pressure by using anesthesia machines.Veterinary anesthesia is a procedure performed on animals by a veterinarian or a registered veterinary technician. It includes anesthesia for the major species such as dogs, cats, horses, cattle, sheep, goats, and pigs.
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Historical overview
The market was analyzed qualitatively and quantitatively from 2021-2031. The veterinary anesthesia market grow at a CAGR of around 4.6% from 2021-2031. Most of the growth was derived from the Asia-Pacific region owing to the surge in health awareness, rise in disposable incomes, as well as well-established presence of companies in the region.
Market dynamics
The growth of the veterinary anesthesia market is driven due to the rise in the prevalence of orthopedic issues in animals such as injury and arthritis. This highlights the demand for veterinary anesthesia. In addition, an increase in cases of cruciate ligament rupture in dogs worldwide drive the market growth. For instance, 85% of all-orthopedic injuries in dogs are some form of cruciate ligament rupture injury colors and flavors. The growth of the veterinary anesthesia market is expected to be driven by high potential in untapped, emerging markets, due to the availability of improved animal healthcare infrastructure, increase in unmet healthcare needs, rise in prevalence of chronic diseases in animals, and surge in demand for veterinary anesthesia machines.
Furthermore, increase in product offering by the manufacturers supports the market growth. High admissions of animals in veterinary clinics and hospitals across the globe surge the demand for outpatient facilities for animals and rise in number of veterinary surgeries contributes toward market growth. The demand for veterinary anesthesia is not only limited to developed countries but is also being witnessed in the developing countries, such as China, Brazil, and India, which fuel the growth of the market. Factors such as rise in high focus on innovation in animal healthcare resulted in development of advanced veterinary anesthesia products, further drive the growth of the market. Furthermore, rise in consumer awareness related to preventive animal healthcare and ease of accessibility boost the adoption of veterinary anesthesia. Moreover, increase in prevalence of oral diseases in dogs and cats and treatment of oral diseases such as dental cleaning and others which requires the pet animals to undergo the general anesthesia procedure as it increase the demand for veterinary anesthesia equipment and further supports the market growth. Furthermore, surge in ownership of companion animals acts as a key factor that contributes toward the growth of the market. For instance, according to the Insurance Information Institute, stated that the total premium volume for pet insurance in the U.S. was nearly $2.6 billion in 2021.
Factor such as surge in adoption of companion animals has been witnessed across the globe. For instance, according to the Pet Food Industry China, stated that in 2020, around 52 million dogs and 49 million cats were kept by 63 million pet owners in China urban cities. Additionally, according to the North American Pet Health Insurance Association, around 67% of U.S. families own a pet in 2019. Thus, rise in pet population across the globe supports the market growth. Moreover, increase in the number of overweight dogs is expected to propel the market growth. According to VCA Animal Hospital, in North America obesity is the most common disease in dogs. For instance, according to the Association for Pet Obesity Prevention (APPA) in 2018-19, an estimated 50 million dogs and 56 million cats were overweight or had obesity in the U.S. The rise in prevalence of bone fractures among animals further drive the market growth. Moreover, the advent of advanced surgical techniques to treat the condition is anticipated to serve as opportunity for the market expansion during the forecast period.
Various public and private service providers offer schemes for various companion animals, including dogs and cats, among others. The favorable pet insurance policies in countries such as the U.S., well-developed veterinary care infrastructure and higher pet ownership rates in this region are expected to boost the market growth. For instance, in March 2022, according to the Spots.com, around 84.9 million or 67% of American households own at least one kind of pet. Furthermore, rise in adoption of companion animals in Europe further drive the market growth. For instance, in October 2022, according to Copper Pet Care, there are around 145 million pet animals present in European Union (including Norway and Switzerland).
Moreover, presence of organizations focused on animal health in this region is also contributing to market growth. For instance, animal welfare organizations care for the physical, emotional, and psychological well-being of certain animals and also provides awareness regarding animal health. These groups include animal rescue organizations, wildlife rehabilitation facilities, which care for the animals in distress and sanctuaries, where animals are brought to live. Thus, rise in animal welfare organizations further propels veterinary anesthesia market opportunity. These groups include animal rescue organizations, wildlife rehabilitation facilities, which care for the animals in distress and sanctuaries, where animals are brought to live. Thus, rise in animal welfare organizations further propels the market veterinary anesthesia market growth.
However, high cost of veterinary anesthesia equipment impedes the market growth. In addition, lack of veterinary infrastructure facilities in underdeveloped nations and high cost of veterinary anesthesia may restrain the market growth.
The outbreak of COVID-19 has disrupted workflows in the health care sector around the world. The disease has forced a number of industries to shut their doors temporarily, including several sub-domains of health care. The global veterinary anesthesia market experienced a decline in 2021 due to global economic recession led by COVID-19. In addition, the COVID-19 outbreak disrupted the supply chain across various end-user industries like food & beverage, healthcare, medical equipment and industrial. For instance, the British Veterinary Association stated that around 16% veterinary professionals in Europe closed their operations for a period in 2020. In addition, shortage of equipment and veterinarians were affected due to pandemic. For instance, data published by CMI research stated that approximately 47% of veterinary professionals in South America and 33% in Nordic countries experienced delayed delivery for anesthesia devices.
Segmental Overview
The veterinary anesthesia market is segmented into product, animal, end user and region. By product, the market is categorized into anesthesia machines, vaporizers, and others. On the basis of animal, the market is segregated into small animal, and large animal. By end user, the market is classified into veterinary hospitals & clinics and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
By product
The market is segmented into anesthesia machines, vaporizers, and others. The anesthesia machines segment dominated the veterinary anesthesia market share in 2021 and is expected to remain dominant throughout the forecast period, owing to increase in adoption of veterinary anesthesia machines for animals.
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By animal
The veterinary anesthesia market is segregated into large animal and small animal. The small animal segment dominated the veterinary anesthesia market size in 2021, and is anticipated to continue this trend during the forecast period. This is attributed to rise in adoption of small animals, increase in number of pet insurance purchase, surge in awareness for pet health, growth in number of veterinary clinics & veterinary physicians.
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By end user
The market is classified into veterinary hospitals & clinics and others. The veterinary hospitals & clinics held the largest market share in 2021 and is expected to remain dominant throughout the veterinary anesthesia market forecast. This was attributed to rapid expansion of emergency and critical care units in veterinary hospitals, and availability of affordable veterinary anesthesia in hospitals, rise in number of veterinary clinics, and availability of veterinary anesthesia in veterinary clinics.
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By region
The veterinary anesthesia market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for a major share of the veterinary anesthesia market in 2021 and is expected to maintain its dominance during the forecast period.
Presence of key players, such as Dispomed Ltd, JD Medical, ICU Medical, Inc., Kent Scientific Corporation, Midmark Corporation and advancement in manufacturing technology of veterinary anesthesia in the region drive the growth of the market. In addition, surge in ÑоnÑеrn аmоng реорlе fоr mаіntаіnÑ–ng а hеаlthу lÑ–fеѕtуlе for animals аnd ÑоnÑ•Ñ–Ñ•tеnt grоwth Ñ–n thе pet рорulаtіоn, Ñ–nÑrеаѕеѕ thе demand fоr veterinary anesthesia in the region, which is ехреÑtеd tо Ñ€rореl the grоwth of thе mаrkеt. Furthermore, presence of well-established animal healthcare infrastructure, high purchasing power, and rise in adoption rate of veterinary orthopedic implants are expected to drive the market growth.
Asia-Pacific veterinary anesthesia market size is expected to grow at the highest rate during the forecast period. The market growth in this region is attributed to presence of medical device companies in the region as well as growth in the purchasing power of populated countries, such as China and India. Furthermore, surge in demand for protein-rich animal food, and upsurge in number of veterinary clinics coupled with veterinary anesthesia significantly contribute toward the market growth in Asia-Pacific. Asia-Pacific offers profitable opportunities for key players operating in the veterinary orthopedic implants market, thereby registering the fastest growth rate during the forecast period, owing to developments in infrastructure of industries, rise in disposable incomes as well as well-established presence of domestic companies in the region. In addition, rise in contract manufacturing organizations within the region provides great opportunity for new entrants in this region.
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COMPETITION ANALYSIS
Competitive analysis and profiles of the major players in the veterinary anesthesia include Dispomed Ltd, Everest-Tecnovet S.L., ICU Medical, Inc, JD Medical, Kent Scientific Corporation, Midmark Corporation, Patterson Scientific, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Supera Anesthesia Innovations, and Vetland Medical Sales & Services. Major players have adopted acquisition as key developmental strategies to improve the product portfolio of the veterinary anesthesia market. The other market players such as Vpera Innovations, Vetronic Services Ltd, and Synthomer Plc., provide the veterinary anesthesia machines.
Some examples of acquisition in the market
In April 2022, Dispomed Ltd. announced the acquisition of ARVS. This acquisition helped in providing the veterinary clinics with the best medical equipment and adapted technical services.
Key Market Segments
Key Market Players