Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
IN THE NEWSA veterinary injectable device is a convenient alternative to medications that are given in oral form. Once injected, the active ingredient in the injection gets into the blood stream of the animal from where it is quickly distributed to the other body parts. It is very important for the medicine to reach parasites that can be in various body tissues or organs of the animal such as liver, kidneys, lungs, heart, muscles, skin, and others. Moreover, it is necessary to correctly estimate the weight of the animal before injecting the medication since slight overdosing can result in toxic symptoms in the animal.
The veterinary injectable devices market is anticipated to record a significant CAGR over the forecast period, i.e., 2021-2028 on the back of the challenges faced by veterinary doctors while administering a pill to a non-willing animal, along with the concern for the correct dosage of the drug if the animal spits it out. Globally, around 20 percent of the animals are lost to preventable diseases each year and it is a great challenge for the farmers, veterinarians, and animal medicine providers to protect the animal. As with the help of an injectable device, it is easy to dose animals, and many application errors associated with the use of dips, sprays, pour-on and drenches also can be avoided, hence the demand for injectable devices is anticipated to grow significantly in the coming years. The market is segmented by end user into animal research institutes & labs, veterinary hospitals, pet clinics, veterinary pharmacies and others. Among these segments, the veterinary hospitals segment is anticipated to witness significant growth over the forecast period on the back of availability of fast emergency care and reliable caretakers in the hospital. Moreover, veterinary hospitals have sufficient access to medical equipment and animal care expertise, which is anticipated to drive the growth of the veterinary hospitals segment in the coming years.
The veterinary injectable devices possess numerous benefits as compared to conventional methods of drug delivery in animals. One of the substantial advantages of an injectable device is that the process of injecting the drug does not hamper the regular activities of the animal unlike that of other drug delivery types, such as pour-on, dips, sprays or drenches. Moreover, the process of using the injectable devices for drug delivery does not keep open wounds in the skin and hence the animals can easily withstand the healing process and recover early despite of the changing weather conditions. Using this drug delivery process, animals can go into the water or to high and humid pastures, expose to strong sunlight, or even lick themselves. Owing to the presence of such numerous benefits, the growth of the global veterinary injectable devices is anticipated to grow significantly over the forecast period. CLICK TO DOWNLOAD SAMPLE REPORT
The demand for pets is anticipated to increase over the coming years as they act as a great source of stressbuster. Caressing the pets and spending quality time with them can lower one's blood pressure. Pet owners tend to lead an active lifestyle as it involves playing with their pets, grooming them, or taking them for walks. Therefore, the increase in pet ownership is estimated to create growth opportunities for veterinary injectable device market over the coming years.
According to the Food and Agriculture Organization (FAO) of the United Nations, it is estimated that livestock contributes to about 40% of the total agricultural output mainly in developed countries and also supports the livelihoods of at least 1.3 billion people globally.
Foods that are derived from animals are an important source of nutrients in the diet. The consumption of dairy products provides nutrients that are vital for the health of our body. These nutrients include calcium, vitamin D, potassium, protein, and others. On the other hand, eating meat also provides several health benefits such as increased metabolic rate, reduced hunger, and building of muscle mass. On the back of these health benefits provided by dairy and meat products, there is a growing demand for the rearing of healthy animal species that are the sources of meat. Such a factor is also raising the need amongst the farmers for providing good treatment to the reared animals, which in turn is anticipated to drive the growth of the global veterinary injectable devices market over the coming years.
A few animals are more susceptible to adverse reactions such as inflammation, pain, itching and prolonged time for hair regrowth over the injection deployment site, along with the risks of transmitting infectious microorganisms, and other diseases to other animals. These reactions are caused mainly on the back of factors such as non-sterilization of the syringe needle and due to the process known as coring. Such factors are anticipated to hamper the growth of the global veterinary injectable devices market over the forecast period.
Unlike other industries, the cattle rearing industry was not that affected, and farmers could rear their cattle in the rural areas. Although, there was a significant high demand for veterinary drugs, yet for the restrictions imposed across nations to curb the spread of the pandemic, the availability of the drugs and the injectable devices were significantly impacted. Also, during the period of restriction, the manufacturers of veterinary injectable devices couldn’t meet the demand for these products as transportation of goods were severely hampered and sourcing of raw materials were too a challenging factor. Despite of all these challenges, it is anticipated that as the situation normalizes, the global veterinary injectable devices market will grow at a significant pace in the coming years.
Our in-depth analysis of the veterinary injectable devices market includes the following segments:
On the basis of regional analysis, the global veterinary injectable devices market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
The market in North America is anticipated to hold the largest share in the global veterinary injectable devices market on account of the availability of advanced veterinary facilities in the region and increase in expenditure on pets. Moreover, the pet industry has been experiencing continuous growth in North America on the back of increasing adoption of pets by the pet owners. As a result, there is a rising need amongst the pet owners for the timely care of their pets, which in turn is anticipated to drive the demand for veterinary injectable devices amongst the veterinary clinics and pet care centers. According to the statistics of the National Institutes of Health of the U.S. Department of Health and Human Services, around 68% of households in the United States own a pet.
On the other hand, the market in Asia Pacific is predicted to grow at a significant rate during the forecast period. This growth can be attributed to the growing number of farm animals and livestock in the region. Moreover, on the back of increasing population, the demand for dairy and meat is anticipated to increase, thereby, increasing the demand for farm animals and livestock in the region. Such factors are anticipated to create growth opportunities for the veterinary injectable device market in the region over the coming years.
The global veterinary injectable devices market is further classified on the basis of region as follows:
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