Veterinary Equipment and Disposables Market

Smiths Group (UK), Henry Schein (US), Midmark Corporation (US), and DRE Veterinary (US) are the leading players in the Veterinary Equipment and Disposables Market

The global veterinary equipment and disposables market is projected to reach USD 2.40 billion by 2023 from USD 1.63 billion in 2018, at a CAGR of 8.0%. The growth of this market is majorly driven by the rising animal health expenditure and growing demand for pet insurance, increasing number of veterinary practitioners in developed regions, and growth in the companion animals market. Emerging markets are expected to present major growth opportunities for providers of veterinary equipment and disposables.

The global veterinary equipment and disposables market is fragmented in nature, with a large number of companies continuously trying to mark their presence. The market is led by Smiths Group (UK), Henry Schein (US), Midmark Corporation (US), and DRE Veterinary (US). These players operate in regional and local markets whereas most leading players are based in the US and Europe. These companies mainly focus on collaborations, agreements, acquisitions, and product launches.

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Smiths Group is the leading player in the global veterinary equipment market. This is mainly attributed to its wide geographic presence and distribution network across the globe. The company primarily focuses on strengthening its extensive global sales network. It aims to grow by making customer satisfaction a priority and providing accurate and timely responses and resolutions to consumer needs. The company also provides clinical support to its customers with information pertaining to clinical aspects of veterinary products, which helps the company increase its customer base. In addition, the company also offers clinical education for veterinary professionals, which helps increase the adoption of the company’s products among veterinary professionals. The company has a diversified revenue system that helps it sustain its leading position in the market. Approximately, three-quarters of its end users are hospitals, with the remainder comprising the alternate care market such as homecare, clinics, and other surgery centers, as well as OEM relationships. The company has a direct sales presence in over 20 countries and distribution arrangements in approximately 100 others.

Henry Schein is one of the world's largest providers of business, clinical, technology, and supply chain solutions to enhance the efficiency of office-based dental, animal health, and medical practitioners. The company also serves dental laboratories, government and institutional healthcare clinics, and other alternate care sites. Henry Schein operates through a centralized and automated distribution network. The company offers more than 120,000 branded products, as well as more than 180,000 additional products available as special-order items. In 2017, the company recorded net sales of ~USD 12.5 billion, up 7.7% from the prior year. Internal sales increased by 5.1%, which is in line with its goal of growing 1–2% points faster than its end-markets. The company has a strong sales team comprising approximately 3,725 field sales consultants (including equipment sales specialists), approximately 1,850 telesales representatives, and 199 equipment sales and service centers worldwide. Moreover, to increase its market share in the animal health segment, the company acquired 85% stake in Jorgen Kruuse A/S (Denmark), a supplier of veterinary equipment and consumables with a strong presence in the Nordic countries. With this acquisition, Henry Schein's animal health business further expanded to 23 countries, including the US, Australia, New Zealand, Canada, China, Mala

Related Reports:

Veterinary Equipment and Disposables Market by Product (Consumables, Anesthesia Machines, Ventilators, Patient Monitoring, Oxygen Masks, Infusion Pumps), Animal (Cats, Dogs, Equines, Bovines), End User (Hospitals, Clinics) - Global Forecast to 2023

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Report Code
MD 3898
RI Published ON
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