Equipment
such as ventilators, patient monitors, fluid warmers, and disposables, such as
wound care products and needles, are used in a variety of veterinary
procedures, ranging from breeding to surgery, and diagnostics to treatment. The
rising population of companion and livestock animals across the Asia Pacific
region is a major driver contributing to market growth.
According
to a 2019 report by Animal Medicines Australia, around 61% of Australian
households own at least one pet. A similar trend is observed in South Korea as
well. In 2019, 4.5 million households owned a dog in the country, while 1.1
million households owned a cat, according to Statistics Korea.
The
COVID-19 pandemic significantly affected the animal health industry including
the market for veterinary equipment and disposables in Asia Pacific. Some of
the major points of impact include supply chain disruptions, the decline in
sales, low demand, and operational hurdles due to changing policies and
restrictions.
The
market is dominated by many small and large players, including B. Braun Vet
Care GmbH; Nonin Medical; and Midmark Corporation. There are many regional
players as well, functioning as manufacturers, traders, and exporters. These
organizations are undertaking various strategic initiatives, such as product
launches, mergers and acquisitions, and collaborations, to gain market share.
For instance, in July 2020, Midmark Corporation launched the Midmark
Multiparameter Monitor for enhanced veterinary care.
Request a
free sample copy or view report summary: Asia
Pacific Veterinary Equipment And Disposables Market Report
Asia Pacific Veterinary Equipment and Disposables Market
Report Highlights
- Advancements
in monitoring and therapy equipment and disposables, such as ventilation
support, IV fluid therapy, temperature management, and pain control are
further impelling demand
- In the
product segment, major revenue share was held by critical care consumables
owing to their cost-effectiveness and increasing usage in veterinary
procedures
- The
companion animals segment dominated the market in 2020 in terms of revenue
share. Growth in the pet population and rising emphasis on pet care and
wellness by owners are contributing to segment growth
- The
veterinary hospitals/clinics segment held the largest revenue share in
2020. Factors driving this growth are the increasing number of animal
hospitals and clinics, investments by the private sector, and rising pet
ownership
- For example,
in September 2020, Tencent and Boehringer Ingelheim along with other
companies invested in China’s largest animal hospital chain-New Ruipeng
Pet Healthcare Group-bringing its market valuation to about USD 4.4
billion
- In terms of
country, China, Hong Kong, and Taiwan grabbed the largest revenue share of
the market in 2020 owing to increasing research activities and the
presence of market players in these countries
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
No comments:
Post a Comment