Veterinary Consumables Market Size, Share & COVID-19 Impact Analysis, By Product (Anesthesia Supplies, Ventilator Supplies, Monitoring Supplies, Imaging Supplies, and Others), By Animal Type (Companion Animal {Canine, Feline, Equine, and Others} and Livestock Animal {Bovine, Swine, and Others}), By Type (Disposable and Reusable), By End-user (Veterinary Hospitals, Veterinary Clinics, and Others), and Regional Forecast, 2021-2028

The global veterinary consumables market size was USD 1.63 billion in 2020. The market is projected to grow from USD 1.71 billion in 2021 to USD 2.83 billion by 2028 at a CAGR of 7.4% in the 2021-2028 period. The global impact of COVID-19 has been unprecedented and staggering, with veterinary consumables witnessing a negative demand shock across all regions amid the pandemic. Based on our analysis, the global market exhibited a decline of -2.8% in 2020 as compared to the average year-on-year growth during 2017-2019. The sudden rise in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over.

Globally rising awareness regarding animal welfare and their well-being has led to increasing demand for medical consumables. The rising prevalence of diseases, such as bovine mastitis, rabies, foot and mouth diseases, is leading to an increasing number of animals undergoing treatment. This combined with increasing adoption of companion and livestock animals and increasing expenditure on animal healthcare, are some of the major factors primarily responsible for the growing demand for equipment and consumables.

• For instance, according to the estimations of the American Pet Products Association (APPA), around USD 103.6 billion was spent on pets in the U.S., in 2020, among which USD 31.4 billion was spent on routine veterinary care, surgical procedures, and sales of pharmaceuticals and other products for animals.


• According to Livestockdata.org, around 1.4 billion cattle were domesticated worldwide. Asia and Europe are among the leading regions for the total number of cattle.

Additionally, the increasing focus of key players on research and development to introduce advanced consumables in the market is further anticipated to fuel the growth of the market during the 2021-2028 period. In March 2021, DVMPro Inc., a manufacturer of diagnostic vet equipment and consumables, announced its partnership with MTMC Animal Health to introduce new products, including ECG, ultrasound, and anesthesia equipment and supplies.

Decline in Animal Visits Amid Pandemic to Hamper Market Growth

The outbreak of COVID-19 in 2020 had a negative impact on the veterinary consumables market. Various medical organizations, such as American Veterinary Medical Association (AVMA), British Veterinary Association (BVA), and others, laid down guidelines for professionals to help define emergencies and recommended a shift toward teleconsultations. However, such changes led to profound reductions in visits to hospitals and clinics across the globe, which further limited the adoption of consumables for diagnostic and other procedures during the 2019-2020 period.

• For instance, according to the data published by American Veterinary Medical Association (AVMA), in April 2020, it was reported that about half of all practitioners in the U.S. had witnessed client visits drop by 50% or less as compared to the previous year due to the impact of COVID-19.

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 such as the U.K. and India and unpredictability during 2021 is expected to further have an adverse impact on veterinary practices. Though at present, healthcare providers in various countries are tackling the situation in a more comprehensive manner as compared to 2020.

LATEST TRENDS

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Rising Shift toward Disposable Consumables is Among Prominent Industry Trend

Mishandling or poor sterilization of surgical instruments has a hazardous effect. Biofilm builds upon reusable products, and scratched surfaces leave the consumables unsterilized. Such practices across several small-size clinics and hospitals in emerging countries are increasing the risk of cross-contamination. This has led to a growing emphasis on single-use consumables, especially in developed countries.

• For instance, according to a study published by the National Center for Biotechnology Information comparing the safety of reusable and disposable medical devices, it was reported that 29.5% of total samples obtained from reusable devices were bacteriologically positive, and 70% of the bacteria isolated from them were pathogens.

Thus, a higher risk of infections among animals due to surgeries using reusable equipment and supplies has led to increasing demand for cost-effective alternatives. This shifting focus of professionals and market players toward disposable consumables is poised to drive the veterinary consumables market growth.

DRIVING FACTORS

Increasing Prevalence of Veterinary Diseases to Boost Adoption of Consumables

Poor sanitation, improper management, and other nutritional, physiological, or morphological defects among animals are resulting in a rising prevalence of diseases among animals globally.

• For instance, according to data published by PLOS in 2021, the prevalence of bovine tuberculosis was estimated to be around 2.4% in China, 7.3% in India, and 2.87 in Spain.


• According to a study published by Research Gate, it was estimated that approximately 10.0 % to 15.0% of all dogs globally are suffering from heart disease.

Animal diseases remain a principal concern due to the economic loss they cause and the possible transmission of the causative agents to humans, known as zoonotic diseases. Therefore, early diagnosis of these diseases is an important aspect of the prevention of major outbreaks.

However, increasing initiatives by government and other medical organizations der to promote awareness regarding prevalent diseases and possible methods for early diagnosis and treatment is anticipated to upsurge the demand for various devices. Hence, it is further expected to boost the adoption of the product, including anesthesia and other critical care consumables, during the forecast period.

RESTRAINING FACTORS

Lack of Skilled Veterinarian in Emerging Countries to Hamper Adoption Rate

Usage of highly advanced equipment and supplies requires trained and well-qualified professionals that can provide efficient treatment to animals. Both developed and emerging countries are currently witnessing a shortage of skilled veterinary surgeons and physicians, which poses a barrier to the adoption of supplies and consumables.

• For instance, according to the South African Qualifications Authority (SAQA), the international norm is between 200 to 400 veterinarians per million animals, but in South Africa, there are only 60 to 70 veterinarians per million.

Additionally, the adoption of equipment and supplies among emerging countries is also limited due to various issues such as comparatively lower expenditure on animal health, lack of awareness about animal diseases, and lack of availability of favorable pet insurance policies.

Thus, shortage of skilled veterinary professionals, lower expenditure, and lack of adequate animal health insurance plans are primarily responsible for lower treatment rates in emerging countries, thereby subsequently resulting in sluggish growth of the global market.

SEGMENTATION

By Product Analysis

Higher Adoption of Anesthesia Supplies during Surgeries Led to its Dominant Position in 2020

On the basis of product, the global market is segmented into anesthesia supplies, ventilator supplies, monitoring supplies, imaging supplies, and others. The anesthesia supplies segment held a dominating the veterinary consumables market share in 2020.

The dominance is attributed to the increasing expenditure on animal care globally, along with the increasing demand for sterilization procedures that are performed using anesthetic agents and consumables. For instance, according to data published by Improve International in 2019, it was estimated that the U.K. has one of the highest neutering rates among dogs, with over 80.0% percent of both males and females being surgically neutered.

Besides, the ventilator supplies segment is anticipated to register a higher CAGR during the forecast period owing to the rising adoption of critical care consumables such as resuscitators, ventilator filters, and so on in specialty care and emergency care departments.

However, the monitoring supplies and imaging supplies segments are expected to register a significant CAGR owing to the increasing demand for advanced diagnostic devices among veterinarians that are integrated with real-time monitoring, portable or other smart features.

By Animal Type Analysis

Increasing Pet Ownership to Propel Growth of Companion Animals During Forecast Period

By animal type, the market is segmented into companion animals and livestock animals. Among them, companion animals held a dominating share of the global market in 2020 due to the increasing number of households with pets in both developed and emerging countries.

However, the livestock animals segment is expected to grow at a significant pace during the forecast period owing to the increasing initiatives by government and NGOs to prevent disease outbreaks among cattle, pigs, and other farm animals, along with the expansion of product portfolios by leading players for treatment of diseases specific to these animals.

By Type Analysis

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Distinct Benefits Offered by Reusable Consumables Led to its Dominant Share in 2020

On the basis of type, this market is segmented into disposable and reusable segments. The reusable segment is anticipated to hold a dominant share of the market during the forecast period. Distinct benefits offered by reusable supplies, such as reduction in the amount of medical waste generated and less fluctuation in costs as compared to disposable supplies, are some of the major factors primarily responsible for its higher adoption across various facilities.

However, the disposable segment is anticipated to register a comparatively higher CAGR during the 2021-2028 period, owing to the increasing incidence of cross-contamination during surgeries using reusable supplies, which is propelling the shift toward single-use supplies.

By End-User Analysis

High Flow of Diseased Animals toward Clinics Results in Higher Adoption of Consumables

Among end-user, the market is segmented into veterinary hospitals, clinics, and others. The clinics segment is anticipated to maintain its dominance in the global market during the forecast period. The dominance is due to the high flow of large and small animals suffering from diseases towards clinics, along with adequate insurance policies being awarded by these settings in developed countries.

On the other hand, the veterinary hospitals' segment is expected to grow at a significant CAGR during the forecast period. Availability of all advanced equipment and supplies to detect and treat diseases in animals is one of the major factors expected to propel the growth of the segment during the forecast period.

The others segment, which includes animal centers and research institutes is anticipated to register a comparatively moderate CAGR during the forecast period.

REGIONAL INSIGHTS

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The market size in North America stood at USD 0.78 billion in 2020. The dominance of this region is due to a higher pet ownership rate in the U.S. and Canada, higher disposable income on animal care, growing employment in this sector, and favorable reimbursement policies for various diagnostic and treatment procedures. For instance, according to the estimations of the American Veterinary Medical Association (AVMA), the number of U.S. households with a pet has increased from 84.6 million in 2018 to 84.9 million in 2020.

The market in Europe is anticipated to register a significant CAGR during the forecast period, owing to the growing adoption of pets, rising prevalence of diseases among livestock animals, an increasing number of clinics, and improved healthcare infrastructure in some European countries, including the U.K., Germany, and others.

The Asia Pacific market size is expected to grow at a higher CAGR during the forecast period, owing to the rapidly increasing population of livestock animals in countries such as India and China, along with the increasing prevalence of diseases among animals in the region. For instance, according to the estimations of the Department of Animal Husbandry and Dairying (DAHD), the livestock population in India has increased by 4.6%, from 512 million in 2012 to 536 million in 2019.

On the other hand, the rest of the world is expected to register a moderate CAGR during 2021-2028, owing to comparatively lower expenditure on animal healthcare, lower pet adoption rates, and lack of adequate pet insurance plans offered by the government or private insurers.

KEY INDUSTRY PLAYERS

Market Players to Emphasis on Mergers with Other Key Players to Gain Market Share

The competitive landscape is fragmented, with established veterinary consumable companies, such as Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Midmark Corporation, and Smiths Medical, accounting for a comparatively lower proportion of the global market. Key players are constantly focusing on commercializing their products worldwide and entering into strategic collaborations with other players to expand their product portfolio.

• For instance, in April 2021, DRE Veterinary merged with the animal health division of Avante Health Solution and renamed itself Avante Animal Health to expand its product portfolio and strengthen its brand presence globally.

The current market scenario is characterized by an increasing number of domestic manufacturers, such as SunTech Medical, Inc. and VETLAND MEDICAL SALES & SERVICES, focusing on expanding their brand presence in the global market. Other key veterinary consumable suppliers operating in the market are Covetrus, Animal Health International, Inc., and Henry Schein, Inc.

LIST OF KEY PLAYERS PROFILED:

• Avante Animal Health (Louisville, U.S.)


• Midmark Corporation (Dayton, U.S.)


• Smiths Medical (Minneapolis, U.S.)


• Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (Shenzhen, China)


• B. Braun Melsungen AG (Melsungen, Germany)


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


• SunTech Medical, Inc. (Morrisville, U.S.)

KEY INDUSTRY DEVELOPMENTS:

• September 2021 – Midmark Corporation acquired Schroer Manufacturing Company with an aim to expand its portfolio for animal healthcare and offer a variety of products, including surgery and exam tables, tubs, anesthesia, grooming, and lighting instruments.


• October 2018 – SunTech Medical, Inc. included Vet20, Vet25 and Vet30 blood pressure monitors into the Fear Free Preferred Product Program with an aim to increase the product awareness globally.

REPORT COVERAGE

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The market research report provides a detailed veterinary consumables market analysis and focuses on key aspects such as leading companies, animal type, and leading types of the product. Besides this, the report offers insights into the market trends and highlights key industry developments. In addition, the report encompasses several factors that have contributed to the growth of the market in recent years.

Report Scope & Segmentation