Analysis by Animal Type (Small Animal, and Large Animal); by Product (Standalone, and Portable); and by End User (Veterinary Hospitals, and Veterinary Clinics) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033
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The global veterinary anesthesia equipment market is expected to garner a revenue of ~ USD 3 Billion by the end of 2033 by rising at a CAGR of ~9% over the upcoming decades, i.e., 2023 – 2033. Further, the market generated a revenue of ~ USD 1 Billion in the year 2022. The growth of the market can be attributed to the increasing prevalence of chronic diseases in animals. The rising animal diseases are expected to increase the adoption rate of veterinary anesthesia equipment for treating them comfortably. Veterinary anesthesia equipment is helpful in treating incidences of veterinary chronic diseases such as hepatitis, skin allergies, chronic diseases, and diabetes mellitus. Canine atopic dermatitis, or atopy is defined as a skin hypersensitivity condition in animals caused by allergies to environmental substances known as allergens. As per a recent report from 2020, it is stated that at least 10% of the global dog population is affected by this skin allergy condition.
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Veterinary anesthesia equipment is very useful in numerous veterinary procedures such as dental operations, imaging, urinary cauterization, surgical actions, and others. Moreover, the adoption rate of veterinary anesthesia equipment is expected to increase in the forecast period, considering that it is important for diagnosing and treating veterinary chronic diseases such as emphysema in the horses, leukemia in cats and cattle, muscular dystrophies in chickens and mice, atherosclerosis in pigs and pigeons, blood-coagulation disorders, and nephritis in dogs. Another factor that is anticipated to create a positive outlook for market growth is the rising trend of adopting pets in households. Companion animals are considered to bring positive health benefits. They have proven to reduce cardiac arrhythmias and anxiety, and also normalize blood pressure. Hence, the boost in the adoption rate of animals is expected to fuel the growth of the market owing to an increase in veterinary visits, rising awareness about pets’ health, and growth in expenditure on animal healthcare systems. Every year, almost 4.1 million animals in shelters are adopted out of which 2 million are dogs and 2.1 million are cats.
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Base Year |
2022 |
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Forecast Year |
2023-2033 |
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CAGR |
~9% |
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Base Year Market Size (2022) |
~ USD 1 Billion |
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Forecast Year Market Size (2033) |
~ USD 3 Billion |
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Regional Scope |
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Growth Drivers
Growing Pet Population - As the pet population has increased, the demand for quality veterinary services is also increasing. People have become more concerned about their pet’s health. Hence, owing to this, the utilization rate of veterinary anesthesia equipment is expected to grow considerably in the forecast period. In 2018, the population of pet dogs in India was estimated to be around 18 million. By the end of 2023, it was anticipated that the population will exceed 30 million.
Growing Cases of Accidental Injuries in Animals – Approximately 11,900 stray animals, including dogs, cats, cattle, and goats, suffered injuries in traffic incidents in India from 2011–12 to July 2019.
Rapid Urbanization & Increase in Disposable Income - In the last ten years, China's urbanization rate has increased significantly, from 32.93% in 2007 to 60.6% in 2019 and 65.5% in 2025, respectively.
Growing Expenditure on Pet Health Insurance - The adoption rate of pet health insurance in the United States is 2.3% for dogs and 0.4% for cats, according to the North American Pet Health Insurance Association (NAPHIA).
Surge in Number of Veterinary Established - In India, there were close to 10,000 veterinary facilities and polyclinics during the fiscal year 2021.
Challenges
The global veterinary anesthesia equipment market is segmented and analyzed for demand and supply by animal type into small animals, and large animals. Out of these, the small animal segment is anticipated to garner the highest revenue by the end of 2033, backed by the increase in the adoption of small animals by the population. Recent studies and statistics stated that there are many health benefits for a human such as reduced blood pressure, enhanced psychosocial stability, and lower anxiety attacks owing to a pet in a household. Moreover, the smaller animals are prone to both acute and chronic diseases owing to weaker metabolism and delicate immune system. As a result, more veterinary anesthesia equipment is being used to treat small animals. In the United States, approximately 70 million dogs and about 84 million cats are reportedly adopted. In addition, the increased awareness and concerns related to animal health, along with the high expenditure for diagnosing and treating diseases in pets is projected to generate favorable opportunities for market growth in the upcoming years.
The global veterinary anesthesia equipment market is also segmented and analyzed for demand and supply by end-user in veterinary hospitals and veterinary clinics. Out of these two segments, the veterinary hospitals’ segment is attributed to garner the highest share by the end of the assessment period owing to the high rate of adoption of veterinary anesthesia equipment in veterinary hospitals. In veterinary hospitals, several medical procedures are being carried out daily, such as examinations, diagnosis, prophylaxis, surgeries, and treatment, which require veterinary anesthesia equipment to carry out these facilities. Moreover, the settings found in veterinary hospitals have advanced infrastructure with technologically advanced equipment that is maintained on a regular basis, and high-quality facilities to carry out surgeries are expected to raise the demand for veterinary anesthesia equipment in veterinary hospitals.
Our in-depth analysis of the global veterinary anesthesia equipment market includes the following segments:
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By Animal Type |
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By Product |
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By End User |
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The Asia Pacific veterinary anesthesia equipment market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. The rise in the adoption of domestic animals in the region is expected to increase the usage of veterinary anesthesia equipment for treatment and other medical processes. Around 61 million urban Chinese people kept cats or dogs as pets in 2020, up from about 60 million the year before. Further, an increase in awareness regarding animal care, along with the rising focus on pet care and the development of better treatment facilities, is also expected to boost the growth of the market in this region. In addition to the other growth factors, the recent improvement in the healthcare infrastructure in Asian economies for animals is also considered to drive market growth in the region. Moreover, the rising government policies to protect the animals and provide carem along with the high investment made in the research and development sector to introduce new veterinary anesthesia equipment for better treatment options are also forecasted to adopt veterinary anesthesia equipment in the next few years.
JD Medical
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Ans: The major factors driving the growth of the market are growing pet population, growing cases of accidental injuries in animals, rapid urbanization & increase in disposable income, and others.
Ans: The market is anticipated to attain a CAGR of ~9% over the forecast period, i.e., 2023 – 2033.
Ans: High cost of veterinary products, lack of awareness, and lack of veterinary infrastructure in rural part are some of the major factors expected to hinder the growth of the market.
Ans: The market in Asia Pacific is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.
Ans: The major players in the market are JD Medical, Midmark Corporation, Kent Scientific Corporation, ICU Medical, Inc., and more.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by animal type, product, end user, and by region.
Ans: The small animal segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.
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