New York, May 10, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report “Veterinary Disposables Global Market Report 2021: COVID 19 Growth And Change to 2030” – https://www.reportlinker.com/p06071095 /? utm_source = GNW
The global veterinary disposables market is expected to grow from $ 0.283 billion in 2020 to $ 0.304 billion in 2021 at a compound annual growth rate (CAGR) of 7.4%. The growth is mainly driven by business resumption and adaptation to the new normal while recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, the remote work and closure of business activities which resulted in operational challenges. The market is expected to reach $ 0.446 billion in 2025 with a CAGR of 10%.
The veterinary disposables market consists of the sales of veterinary disposables by companies that manufacture veterinary disposables. Disposable veterinary products are single-use products used for the treatment of diseases in animals.
Companies in the veterinary disposables industry are increasingly investing in mergers and acquisitions with other players to drive product innovation. To succeed in the increasingly competitive veterinary disposables market, companies are entering into new geographic areas and develop innovative products by sharing their skills and expertise with other players through acquisitions and mergers.
In April 2020, Heska Corporation, a U.S. company that manufactures and markets products related to pet care, acquired Scil Animal Care for $ 125 million.
Scil Animal Care is a European company specializing in the distribution of animal health laboratories and diagnostic imaging products and services. In 2016, Midmark acquired VSSI, Inc. for better product innovation.
The Veterinary Disposables market covered in this report is segmented by type into Intensive Care Consumables; wound management consumables; fluid administration and therapy consumables; respiratory tract management consumables; gastroenterology consumables; needles; other. It is also segmented by animal type into small animals; large animals; others and by end user: veterinary clinics; veterinary hospitals; research institutes; other.
The shortage of veterinarians in underdeveloped and developing countries has limited the growth of the disposable veterinary products market during the historical period.In 2015-2019, access to veterinary care was relatively low in most of the countries in development compared to developed countries, while the burden of animal disease was high in most developing countries. low and middle income countries.
In 2019, there were only 918 vets in Chandigarh, India, compared to 1,122 vets needed to meet a herd of 8.9 million. The low availability of veterinary care services and the insufficient number of veterinary clinics and veterinarians have limited the growth of disposable veterinary products in many developing countries. According to the USDA, in 2019, 500 provinces, which are mostly in rural areas, in the United States were underserved by vets, and 44 U.S. states are facing a shortage of vets. Insufficient availability of veterinary care in rural areas would hamper the number of animal procedures where disposable products are used, hence the scarcity of veterinarians hinders the market for disposable veterinary products.
The increased ownership of pets by Generation X and Generation Y adults has contributed to the growth of the veterinary disposables market over the historical period. According to APPA, Generation Y, or Generation Y , represents the largest segment of pet owners for all types of pets.
Over 80% of generations Y and Z own a dog and 50% or less own a cat as a pet. The possession of multiple animals is also on the increase in some parts of the world.
In the United States, nearly 57% of all households owned pets in 2016. According to the APPA National Pet Owner Survey 2019-2020, 67% of US households own pets. company, which equates to 84.9 million households. Pet owners are well versed in state-of-the-art facilities and are willing to spend a lot of money on the health of their pets. Hence, the increase in the number of pet owners is helping in the growth of the veterinary disposable products market.
Read the full report: https://www.reportlinker.com/p06071095/?utm_source=GNW
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