The global veterinary infusion pumps market was valued USD 85.9 million in 2017 and is likely to grow at a 4.9% CAGR between 2018- 2023, reveals the new Market Research Future (MRFR) report. Pet care holds utmost importance in different households worldwide. Veterinary infusion pumps play a pivotal part to oversee as well as examine fluids in animals for different clinical conditions. These pumps help in permeating nutrients, medication, or fluids into the blood system of an animal.
They are mostly used in major operations like a blood transfusion or overseeing parental nutrition in its entirety. Large-volume infusion pump and syringe infusion pump are the two most widely used veterinary infusion pumps. Owing to its alluring features and plentiful benefits, veterinary infusion pumps have a wide range of applications. Some of its key end users include veterinary clinics, veterinary hospitals, among others.
Various factors are adding to the veterinary infusion pumps market share. Such factors, as revealed by the latest MRFR report, include growing demand for animal-derived food products, rising animal healthcare expenditure, growing need for pet insurance, and the rising number of veterinary practitioners.
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Additional factors adding market growth include rising number of animal diseases, increasing adoption of companion animals, technological advances in veterinary equipment, and increasing awareness about pet care.
On the contrary, rising animal care costs and lack of awareness about animal health are factors that may limit the veterinary infusion pumps market growth over the forecast period.
Key Players
Eminent players profiled in the global veterinary infusion pumps market report include Leading Edge Veterinary Equipment, Inc. (US), Grady Medical Systems (US), SAI Infusion Technologies (US), DRE Veterinary (US), Q Core Medical Ltd (Israel), Burtons Medical Equipment Ltd (UK), B. Braun Melsungen AG (Germany), Heska Corporation (US), Jørgen Kruuse A/S (Denmark), and Vetland Medical Sales & Services LLC (US). Industry players have incorporated strategies such as mergers and acquisitions, product launch and development, joint ventures and partnerships, strategic alliances, contracts, geographic expansions, and collaborations to stay ahead in the competition and also cater to the consumers growing needs.
Segmentation:
MRFR’s attempt to get close to various details of the global veterinary infusion pumps market leads to a segmentation that includes the type and end user. With various dynamics and factors well-recorded, these segments are offering a closer look into the market to ensure a proper understanding of the market growth.
- By Type, the study on the veterinary infusion pump market reveals segments like large-volume infusion pump and syringe infusion pump. The large-volume infusion pump segment had the largest market share in 2017 and it is expected to continue its growth following a similar trajectory.
- By End user, the report with details on the veterinary infusion pumps market can be segmented into veterinary clinics, veterinary hospitals, and others. The veterinary hospitals segment had the largest market share in 2017 and it is due to the structural benefits in such institutions and increasing funding for the same.
Regional Analysis
Based on region, the global veterinary infusion pumps market report covers the growth opportunities and recent trends across Europe, the Americas, the Asia Pacific (APAC), and the Middle East and Africa (MEA). Of these, the Americas will dominate the market over the forecast period. Factors propelling the global veterinary infusion pumps market growth in the region include rising prevalence of animal diseases, increasing number of veterinary practitioners coupled with their rising income levels, burgeoning demand for animal-derived food products, rising animal healthcare expenditure, growing need for pet insurance, and the presence of well-established players.
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The global veterinary infusion pumps market in Europe is predicted to hold the second-largest share over the forecast period followed the APAC region. Factors adding to the global veterinary infusion pumps market growth in this region include the rising prevalence of animal diseases, growing demand for animal-derived food products, rising animal healthcare expenditure, increasing pet adoption, and the rising livestock population.
The global veterinary infusion pumps market in the MEA will have the lowest share over the forecast period.