Veterinary Anesthesia Equipment Market Size, Share & COVID-19 Impact Analysis, By Product (Standalone, Portable), Animal Type (Small Animal, Large Animal), By End User (Veterinary Hospitals, Veterinary Clinics and Others), and Regional Forecast, 2021-2028

The global veterinary anesthesia equipment market size was USD 174.3 million in 2020. The market is projected to grow from USD 180.8 million in 2021 to USD 290.2 million in 2028 at a CAGR of 7.0% in the 2021-2028 period. The global impact of COVID-19 has been unprecedented and staggering, with veterinary anesthesia equipment witnessing a negative impact on demand across all regions amid the pandemic. Based on our analysis, the global market exhibited a lower growth of -3.7% in 2020 as compared to the average year-on-year growth during 2017-2019.  The rise in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over.

Over the years, veterinary anesthesia equipment has been widely used for veterinary procedures such as dental procedures, imaging and urinary catheterization.  The growing prevalence of veterinary chronic diseases like hepatitis, skin allergy, chronic kidney diseases and diabetes mellitus among companion animals has led to the increase in the number of various surgical procedures associated with these disorders. According to Frontiers of Veterinary Science, in 2017, the prevalence of canine obesity and hypertension was 40.9% in Spain. Similarly, 20.4% of dogs suffered from hypercholesterolemia and fasting hypertriglyceridemia. Furthermore, the overall prevalence of obesity-related metabolic dysfunction (ORMD) was found to be 22.6%. Such a surge in the prevalence of animal diseases is expected to strongly contribute to the market’s growth prospects.

The growing prevalence of disorders amongst companion animals is expected to open new avenues for growth in terms of bariatric and metabolic surgeries of animals. The rising adoption of pets, the positive effect of companion animals on humans' mental and physical health, and the growing consumption of veterinary care products are estimated to make significant growth in the market. Furthermore, recent advancements on animal healthcare globally significantly contribute to introducing new anesthesia devices in the market. The growing focus on animal healthcare globally significantly contributes to veterinary anesthesia equipment market growth in the forecast period.

COVID-19 IMPACT

Decline in the Number of Veterinary Procedures due to COVID-19 has led to a Negative Impact on the Market

The COVID-19 pandemic negatively affected the global veterinary anesthesia devices market. Key players operating in the veterinary industry reported a decline in their revenues due to the pandemic. Medical organizations in many countries, such as American Veterinary Medical Association (AVMA) and British Veterinary Association introduced guidelines and suggested a transition towards telemedicine whenever possible. These factors led to a steep decline in patient visits to veterinary clinics and hospitals globally, limiting the installation of veterinary anesthesia equipment.

• According to the data published by AVMA, in April 2020, about half of all veterinary practitioners in the U.S. witnessed a 50% decline in vet appointments.


• British Veterinary Association reported that about 16% of vet professionals in Europe closed their operations for a prominent period of time in 2020.

Also, shortage of equipment was widespread, with veterinary pharmaceuticals, devices, and personal protective equipment being most affected during the pandemic due to restrictions imposed by the government of several countries. For instance, according to the data published by CMI Research, it was reported that around 47.0% of veterinary professionals in South America and 33.0% in Nordic countries experienced delayed delivery or completely ran out of surgery equipment such as anesthesia devices. Several countries lifted lockdown restrictions and stay-at-home orders by the end of 2020.

However, the recent outbreak of a new variant of COVID-19 in countries like the U.K., India, etc., and unpredictability during 2021 is expected to further have an adverse impact on veterinary practices. Veterinary care providers in various countries are tackling the situation more comprehensively than in 2020. The market is not anticipated to return to pre-pandemic levels by the end of 2021, despite the increase in rate of pet ownership in 2020 and the shift of pet owners and veterinarians towards alternative methods of delivering treatment services to animals. However, it was expected to gain momentum in terms of growth in 2021.

LATEST TRENDS

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Increased Focus on Companion Animals to Determine Market Growth Trajectory

One of the most important market trends witnessed in the global veterinary anesthesia equipment market is that over the past few years, there has been an increased focus on developing systems for smaller animals such as companion animals.

According to the estimates of The European Pet Food Industry, in 2019, about 85 million households in Europe owned at least one pet. In European households, the cat’s and dog’s populations accounted for nearly 25.0% and 24.0% in 2019, respectively. Furthermore, pet humanization and increased awareness of one’s pet healthcare needs are expected to drive the demand for animal healthcare. Hence, an increasing number of prominent market players are focusing on launches of veterinary anesthesia systems for smaller animals.

Some of the recent developments in the companion animals segment that is expected to be instrumental in the market's growth include the launch of VETLAND MEDICAL SALES & SERVICES introduced Harmony 5 Electronic small animal system to successfully perform veterinary anesthesia in 2017. The instrument also has optional pulse oximetry and a carbon dioxide monitoring system. As more companies become engaged in the development of veterinary anesthesia systems for the smaller animals, more product launches are expected in this market segment, which is expected to abundantly contribute to the surge of the market in the projection period.

DRIVING FACTORS

Growing Animal Population with an Increase in Veterinary Surgical Procedures to Drive Market Growth

One of the most critical drivers of the global market is the increasing number of veterinary surgical procedures such as spaying and neutering, skin surgeries, and tooth extractions. The other common veterinary surgical procedures carried out globally are ACL, fractures and dislocations, belly surgery, cancer surgery, spinal surgery, ear surgery, and amputations. For instance, the total population of dogs in the U.S. in 2020 was 89.7 million. According to an American Veterinary Medical Association (AVMA) article, approximately 1 in 4 dogs develop neoplasia. Almost half of the dogs over the age of 10 develop cancer which can be treated through certain surgical procedures, which ultimately leads to an increased usage of anesthesia and a key driver for veterinary anesthesia devices.  

Hence, various companies with a strong product portfolio in these devices are focusing on introducing new anesthesia devices which are portable, well-calibrated, safe, and efficient. Along with such new technology, various companies focus on strategic partnerships with other players to increase the availability of veterinary equipment. In January 2019, DRE Veterinary (Avante) announced its strategic partnership with VetNOW, a company that offers innovative high-quality care for facilities related to the veterinary equipment market. Such strong trends in animal population and veterinary surgical procedures are expected to give rise to new product launches, leading to a strong surge in the market growth during the forecast period.

Surge in the Number of Veterinary Establishments to Augment Market Growth

Another critical driving factor for the global veterinary anesthesia devices market in the forecast period is the increasing number of veterinary hospitals, clinics, laboratories, and veterinarians across key countries. As the number of veterinarians and veterinary facilities increases, the demand for these devices in these establishments is witnessing strong demand.

For instance, according to the data published by Statista during the financial year of 2019, over 12,000 veterinary hospitals and polyclinics were found across India, along with numerous aids centers and dispensaries. In total, an estimated 65,000 veterinary institutions were present across the country. In a country like India, where a significant animal population exists, the increasing openings of veterinary establishments are expected to demand equipment.

For instance, according to an article published by Sixth Tone, it was reported that the number of veterinary clinics in China was 26,500. This reflects a doubling of the number of veterinary clinics in China compared to 2014.

According to an article published by the Federation of Veterinarians of Europe (FVE) in October 2019, it was estimated that 309,144 veterinarians are practicing in different countries of Europe. The strong volume of veterinarians in Europe is expected to give rise to many veterinary establishments in the region. Such positive trends in the number of veterinary establishments are expected to strongly spur market growth in the global scenario.

RESTRAINING FACTORS

Lack of Veterinary Infrastructure in Emerging Regions to Restrict Market Growth

Despite a critical and increased need for effective animal anesthesia devices, one of the substantial hindrances towards market growth is the lack of veterinary infrastructure in emerging regions. Despite the increase in animal population at the global level, negligent awareness and inadequate veterinary institutions may prevent many prominent companies from investing in this market, coupled with a decrease in product adoption rates. This lack of veterinary infrastructure in emerging regions is expected to hinder the market growth. It leads to decreased diagnosis rates, leading to an even lower rate of treatment through veterinary anesthesia equipment. These lower diagnosis rates lead to significantly lower procedure numbers which are further expected to limit the market growth opportunities.

For instance, according to a report published in 2021 by DownToEarth, it was stated that the treatment facilities for veterinary care were lacking in India, as many villages in India lack basic testing facilities and the required infrastructure. According to the report, India had 256 state laboratories, 56 veterinary college laboratories, 33 ELISA laboratories, and five regional and one central disease diagnostic laboratories insufficient for vast countries such as India. Furthermore, in terms of the situation in Europe, despite the increase of veterinarians in the urban regions, there has been a shortage in emerging regions such as the rural parts of Europe.

The shortage of veterinarians in rural areas of all the countries surveyed in Europe is around 78.5%. Hence, such factors have led to a scenario with decreased diagnosis rates surgical procedures, which is further expected to lower the timely animal care required in the region. Inadequate veterinary infrastructure is expected to hamper the market growth in the region during the forecast period, as a lower number of veterinary anesthesia machines will be installed.

SEGMENTATION

By Product Analysis

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Portable Product Type Dominated the Global Market in 2020

The global market is segmented into portable and standalone products based on the product. The portable segment dominated the market growth, attributable to its easy-to-use feature. The portable anesthesia devices can be used both in-clinics well as in-field practice. The devices can also be used in veterinary clinics having space constraints. Therefore, due to the compactness and advantage of mobility and the growing adoption rate of these devices across the globe, major key players are focusing on developing portable devices.

The standalone segment accounted for a comparatively lower market share in 2020. The segment is anticipated to register a significant CAGR in the forecast period of 2021-28. The standalone veterinary devices can be used for large animals having a large capacity. The device has more features like patient monitoring, which promotes the segment's growth.  For instance, in October 2018, AM Bickford launched 41110 Veterinary Anesthesia Machine, a wall mount machine. Hence, contributing to the wide product range of standalone Veterinary Anesthesia Equipment and the growth of the market.

By Animal Type Analysis

Small Animal Dominated the Global Market in 2021-2028

Regarding the animal type segment, the small animal segment accounted for the highest market share in 2020, which is attributable to the increasing adoption of companion animals. The strong surge in adoption is because these animals help humans in several ways, like therapy and rehabilitation programs. Companion animals have a positive effect on humans' mental and physical health. Furthermore, the adoption of small animals has increased during the COVID-19 pandemic. For instance, according to the 2021-2022 National Pet Owners Survey, 70% of U.S. households have companion animals.

The large animal segment accounted for the second dominant market share in 2020, owing to the increasing adoption of livestock and horses. The livestock sector plays an important role in the global food system. It is estimated that livestock contributes at least 40% of the global value of agricultural output.

Furthermore, the equine population has also increased due to the global efforts of superior breeding quality of horses for auctions and races. For instance, according to data published in Eurostat in September 2020, the number of bovine animals in Europe is expected to be 77.0 million in 2019. Similarly, in the U.S., in 2021, the number of horses is expected to be 3.5 million.

By End-user Analysis

Higher Adoption of These Devices in Veterinary Hospitals to Propagate Market Growth

An increase in the adoption of anesthesia equipment in veterinary hospitals is expected to contribute to the segment’s market dominance. The services like examination, diagnosis, prophylaxis, surgeries and treatments provided in the hospitals and the capability of those facilities to provide nursing care to the veterinary similar to that of human hospitals drive the growth of the segment. Furthermore, these institutions have advanced infrastructure with high-quality equipment and are regularly maintained. Due to this, the latest anesthesia devices are installed in their facility, which drives the market's growth.

The veterinary clinics are slowly gaining traction because they can be opened in a smaller neighborhood where commutation is a major problem. However, most veterinary clinics focus on preventive and early diagnosis. They are most likely to refer their patients to hospitals for surgeries as they have a better infrastructure. Additionally, the others segment consists of facilities like mobile veterinary services. This service is convenient and time-saving; however, it might not have the appropriate infrastructure to install an anesthesia device.

REGIONAL INSIGHTS

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The market size in North America stood at USD 77.0 million in 2020. The North American market is expected to dominate owing to the highly aware and economically stable population. The comparatively higher number of veterinary procedures performed in the region also contributes to the region’s dominant market share. Furthermore, the growing adoption of small animals in the region also plays a significant role in the growth of the market in the region. For instance, according to American Veterinary Medical Association, in 2018, the number of dogs and cats in the U.S. was reported to be 76.8 million and 58.4 million, respectively.

The market in Europe has the second largest market share owing to a surge in pet adoption in key European countries and rising expenditure on research and development to introduce new veterinary anesthesia products in Europe. The growing number of disorders among animals would lead to increasing veterinary procedures, and thus increasing the adoption of veterinary anesthesia during the process leads to the growth of the market. For instance, according to an article published in BioMed Central in February 2021, in 2016, out of 22,333 dogs, 65.8% of dogs at least had one disorder.

The Asia Pacific market is estimated to witness a relatively significant CAGR in the forecast period and is expected to witness a growth in the market share. The improvement in the healthcare infrastructure in Asian countries for animals, the large population of cattle in regions like India, and the increasing consciousness of the individuals in terms of better treatment outcomes for their pets are driving the growth of the market in the region. For instance, according to the U.S. Department of Agriculture, the estimated population of cattle in India was estimated to be 305.5 million in 2021, which leads to more healthcare procedures, thus eventually contributing to the market in the forecast period.

The Rest of the World region is currently expected to have growth prospects in the forecast period owing to the unmet needs in terms of animal health, increasing awareness amongst the people of this region regarding animal healthcare, and the comparative increase in the number of veterinary establishments in the region.

KEY INDUSTRY PLAYERS

Strong Distribution Network of Dispomed Ltd, Midmark Corporation, DRE Veterinary (Avante), and Shenzhen Mindray Animal Medical Technology Co., LTD to Propel the Companies to A Dominant Position

In terms of the competitive landscape, the key players dominating the global market are Shenzhen Mindray Animal Medical Technology Co., LTD, Midmark Corporation, Dispomed Ltd, and DRE Veterinary (Avante). Owing to their strong distribution network, strategic initiatives like acquisitions, diverse product portfolios, and a significant U.S presence. For instance, in April 2021, Shenzhen Mindray Animal Medical Technology Co., LTD., announced that they launched their new veterinary anesthesia device, Veta 5/ Veta 3. Such launches are aiding the organization in expanding its market share.

Companies like JD Medical, RWD Life Science Co., LTD and VETLAND MEDICAL SALES & SERVICES are comparatively of small scale and are currently focusing on expanding their market. Market players such as Kent Scientific Corporation, Patterson Scientific, and others. These organizations are expanding their market share by participating in events to increase their market presence. For instance, in April 2021, Kent Scientific Corporation participated in AALAS’ Demo Day via virtual mode to share information regarding SomnoFlo low-flow electronic vaporizers, which deliver extremely precise anesthesia. Such initiatives to increase their market presence are expected to contribute to these companies’ growth prospects in the forecast period.                                                                                                            

LIST OF KEY COMPANIES PROFILED:

• JD Medical (Phoenix, U.S.)


• Kent Scientific Corporation (Torrington, U.S.)


• Midmark Corporation (Dayton, U.S.)


• Patterson Scientific (Waukesha, U.S.)


• VETLAND MEDICAL SALES & SERVICES (Louisville, U.S.)


• DRE Veterinary (Chicago, U.S.)


• Shenzhen Mindray Animal Medical Technology Co., LTD. (Shenzhen, China)


• Dispomed ltd (Joliette, Canada)


• RWD Life Science Co., LTD (Shenzhen, China)


• Hallowell Engineering & Manufacturing Corporation (Pittsfield, U.S.)

KEY INDUSTRY DEVELOPMENTS:

• December 2021 – Hallowell Engineering & Manufacturing Corporation announced a series of new product launches like Articulating Wall Arm for the ventilator, Microvent-II, O2, DISS Inline Pressure Gauge Assembly, and ICU Non-Rebreathing Module to increase its product portfolio.


• April 2021 – Shenzhen Mindray Animal Medical Technology Co., LTD., announced that they launched their new veterinary anesthesia device, Veta 5/ Veta 3. Furthermore, the device was globally launched in the X WSAVA event 2021.


• September 2019 – Shenzhen Mindray Animal Medical Technology Co., LTD., announced the launch of WATO EX-35Vet. The device is a fully automatic inhalation anesthetic.

REPORT COVERAGE

An Infographic Representation of Veterinary Anaesthesia Devices Market

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The veterinary anesthesia equipment market report provides detailed analysis of market and focuses on key aspects such as the key industry developments like a merger, acquisitions and partnerships, new product launches, technological advancements, animal ownership stats by key countries, and distribution of veterinary anesthesia machine components. Besides these, the report offers insights into industry analysis and highlights key strategies by market players in the overall market. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the growth of the market over recent years.

Report Scope & Segmentation