The veterinary equipment and supplies market is estimated to be worth USD 2.2 Billion in 2023 and is projected to reach USD 3.2 Billion by 2028, at a CAGR of 7.1% during the forecast period. Increase in the companion animal population, rising veterinary equipment applications in veterinary practices, increasing applications of telemedicine & remote monitoring equipment, increase in the veterinary healthcare expenditure are the major trends in veterinary equipment and supplies market.
The major players in the veterinary equipment and supplies market with a significant global presence are Covetrus Inc. (US), Midmark Corporation (US), ICU Medical, Inc. (US), B. Braun Melsungen AG (Germany), BD Animal Health (US). The market players have adopted various strategies such as development of advanced products, partnerships, contracts, expansions, and acquisitions to strengthen their position in the veterinary equipment and supplies market.
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BD Animal Health
BD Animal Health is a global leader in the development and manufacture of veterinary equipment and supplies. The company offers a wide range of products, including syringes, needles, catheters, intravenous fluids, and surgical instruments. BD Animal Health products are used by veterinarians around the world to provide high-quality care to animals. BD Animal Health sells its products in over 100 countries and has a strong presence in 50 countries across Europe, China, Japan, Canada, and the Asia Pacific. It offers products in different countries through direct distributors to hospitals and healthcare institutes. BDs major subsidiaries are Becton Dickinson Austria GmbH, Becton Dickinson Benelux N.V., Becton Dickinson Canada Inc., and Becton Dickinson Distribution Centre N.V (Belgium). This global reach gives BD Animal Health a competitive advantage over smaller, regional manufacturers.
ICU Medical, Inc.
ICU Medical is a company that develops, manufactures, and distributes medical devices for critical care, oncology, and vascular treatment. The company acquired Smiths Medical (US) from Smiths Group plc. (UK) to join the veterinary equipment and supplies industry. Under the brands Portex, SurgiVet, and Bivona, Smiths Medical provides a range of medical devices designed specifically for the veterinary industry, including anesthetic, airway, critical care, chest, wound drainage, and monitoring. The company plans to keep growing its marketing and distribution capabilities, which can involve making acquisitions in both domestic and international markets to reach new consumers. The business also takes into account growing its product range by acquiring other businesses or product categories. This enables the business to attract new clients and provide better local customer service.
Midmark manufactures and sells dental, veterinary, and medical equipment. The company provides instrument processing systems, carts and cabinets, consumables, accessories, and anesthesia equipment. North America, South America, Europe, the Middle East and Africa, and Asia Pacific are the regions where the corporation operates in all of its business segments. Company is planning to expand its sales and distribution network in developing markets in asianc countries. Midmark is also developing new products and services to meet the needs of its growing customer base. Midmark offers a wide range of veterinary equipment and supplies. This allows Midmark to meet the needs of a variety of customers, including small animal veterinarians, large animal veterinarians, and specialty hospitals.
In the veterinary supplies and equipment market, Covetrus holds the leading position. Covetrus's veterinary equipment and supplies business is a significant part of the company's overall business. Covetrus offers a wide range of veterinary equipment and supplies, including Anesthesia machines, Surgical instruments, Patient monitoring systems, and other veterinary equipment. To help the companion, equine, and large animal veterinary markets, Covetrus primarily provides cutting edge technology solutions, comprehensive service, technology platforms, and supply chain infrastructure. Small and large equipment from different equipment vendors as well as its unique brands are offered by the company. Customers of Covetrus include veterinary clinics and animal health businesses in the companion, equine, and large animal sectors in North America, Europe, and the Asia Pacific.
Veterinary Equipment and Supplies Market by type (Consumable, Anesthesia, Ventilator, Patient Monitoring, Oxygen Mask, Infusion Pump), Animal (Cat, Dog, Equine, Bovine), Applications(Surgical, Diagnosis, Monitoring & Therapeutic) - Global Forecast to 2028
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