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 NEWSSeptember 20, 2021: NEOGEN Corporation announced that the company had acquired the companion animal health company, CAPInnoVet, Inc. The acquisition would help NEOGEN to expand its portfolio in pet medications to the veterinary market.
July 13, 2021: Boehringer Ingelheim announced that its intramuscular needle free device, FreVAX, can now be managed with the new version of FreVAX smartphone app.
The global veterinary injectable devices market is estimated to garner a revenue of USD 1395.4 Million by the end of 2030, by growing at a CAGR of 4.69% over the forecast period, i.e., 2021 – 2030. Moreover, in the year 2020, the market registered a revenue of USD 887.0 Million. The growth of the market can primarily be attributed to the numerous 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 in case the animal spits it out. Moreover, rising concerns for animal safety and the challenges faced by farmers, veterinarians, and animal medicine providers to prevent animal production losses due to animal diseases, are also estimated to boost the market growth. According to the statistics by the World Organisation for Animal Health (OiE), over 20% of animal production losses are linked to animal diseases.
Besides this, the growing adoption of pets worldwide, followed by the rising consumption of diary and meat are also expected to create numerous opportunities for market growth in the coming years. According to the statistics by the Food and Agricultural Organization (FAO), globally, over 6 Billion people consumed milk and milk products. Further, the rising technological advancements in the development of intradermal application of vaccines in animals, increasing focus on animal vaccination, rising expenditure on pet as well as companion animals care, are also estimated to boost the market growth.CLICK TO DOWNLOAD SAMPLE REPORT
Regionally, 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 region is expected to generate the largest revenue of USD 475.1 Million by the end of 2030, up from a revenue of USD 306.2 Million in the year 2020. The growth of the market in the region can be attributed to the increasing availability of advanced veterinary facilities in the region, as well as for the increase in expenditure on pets. On the other hand, the market in the Asia Pacific is projected to grow with the highest CAGR of 5.96% during the forecast period, owing to the growing number of farm animals and livestock in the region. Moreover, presence of countries, such as India, which is the largest producer of milk worldwide, and therefore the rising need amongst cow owners to take care of their animals is expected to contribute to the market growth. In other statistics by the FAO, India contributes to 22% of the global production of milk. The market in the region is further segmented by country into China, India, Japan, South Korea, Australia, Singapore, and the Rest of APAC. Out of these, the market in China is anticipated to register the largest revenue of USD 124.1 Million by the end of 2030, backed by the surge in demand for meat and meat products. The market in the country is also expected to grow with the highest CAGR of 6.30% during the forecast period.
The study further incorporates Y-O-Y Growth, market opportunities, demand & supply and forecast future opportunity in North America (United States, Canada, Mexico), South America, Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
The global veterinary injectable devices market is segmented by product into syringes, needles, remote drug delivery systems, needle free injection system, and others. Out of these, the syringes segment is expected to generate the largest revenue of USD 444.5 Million by the end of 2030, by growing from a revenue of USD 288.2 Million in the year 2020. By usability, the market is segmented into disposable and re-usable, out of which, the disposable segment is estimated to hold the highest market share and further grow with the highest CAGR of 4.76% during the forecast period. By materials, the market is segmented into glass, metal, plastic, and others. Out of these, the plastic segment is projected to hold the largest revenue of USD 714.2 Million by the end of 2030, up from a revenue of USD 460.5 Million in the year 2020. The segment is also predicted to grow with a CAGR of 4.54% during the forecast period. By end-user, the market is segmented into veterinary hospitals, veterinary clinics, and others. Out of these, the veterinary hospitals segment generated the largest revenue of USD 473.4 Million in the year 2020, and is further estimated to grow with a CAGR of 4.52% during the forecast period.
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global veterinary injectable devices market that are included in our report are Boehringer Ingelheim International GmbH, Henke-Sass, Wolf GmbH, TeleDart USA, H. Hauptner and Richard Herberholz GmbH & Co. KG, Schippers Export BV, Hamilton Company, Merck & Co., Inc. (Allflex), NEOGEN Corporation, Terumo Medical Corporation, Quick Shot Corporation, and others.
FREQUENTLY ASKED QUESTIONS
The numerous benefits associated with the utilization of veterinary injectable devices and the increasing pet ownership are some of the major factors anticipated to drive the market growth.
The market is anticipated to attain a CAGR of 4.69% over the forecast period, i.e., 2021 – 2030.
The adverse reactions at the injection site is one of the major factors estimated to hamper the market growth.
The market in North America region is expected to generate the largest revenue of USD 475.1 Million by the end of 2030, and display significant business opportunities in the future.
The major players in the market are Boehringer Ingelheim International GmbH, Henke-Sass, Wolf GmbH, TeleDart USA, H. Hauptner and Richard Herberholz GmbH & Co. KG, Schippers Export BV, Hamilton Company, and others.
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.
The market is segmented by product, usability, materials, end-user, and by region.
The plastic segment is projected to hold the largest revenue of USD 714.2 Million by the end of 2030 and display significant growth opportunities.
Global Veterinary Injectable Devices Market TOC
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