Regional Insights
On the basis of region, theglobal VeterinaryEquipment and Disposables Market is segmented into North America, LatinAmerica, Europe, Asia Pacific, Middle East, and Africa. North America holds adominant position in the global veterinary equipment and disposables market andis expected to retain its dominance over the forecast period. This attributesto high incidence of chronic animal diseases such as cancer as well as risinginvestments in animal healthcare. For instance, according to the Animal CancerFoundation, 2015, around 65 million dogs and 32 million cats live in the U.S. andaround 6 million new cancer cases in dogs and cats are reported every year. Thedata also suggests that one-third of all tumors in dogs are skin tumors, whilearound 20% are mast cell tumors. Moreover, in 2017, the Blue Buffalo Foundationgranted US$ 1 Mn to the Animal Cancer Foundation for the Canine Cancer GenomeProject to map the tumor genomes and develop effective therapies.
Furthermore, Asia Pacific isexpected to witness a significant growth in the market, owing to risingincidence of infectious animal and livestock diseases that are leading torising demand for treatment options. According to the Global Animal DiseaseIntelligence Report 2015, 157 outbreaks of serotype O were reported indifferent cities of Republic of Korea, primarily in pig farms cattle and goats.Moreover, the players in the Asia Pacific region are targeting internationalmarkets to create a significant position in the global market. For instance, inFebruary 2017, Samsung Electronics in collaboration with Henry Schein, Inc. introducedPT10V, point-of-care (PoC) blood analyzer for animal blood tests at the NorthAmerican Veterinary Community (NAVC) Conference in Orlando, Florida.
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Veterinarians use a range oftools to perform dressing of the wounds, check-up of vets, collect bodilyfluids, and perform various surgeries on the animals. Tools such as surgicalclamps, microscopes, saws, pin drivers, suction machines, and catheters arefrequently used in surgeries, however, vets also use equipment that aredesigned specifically for animals. These specialized equipment include electricand manual razors that are used to remove hair from furry animals to performsurgical procedures on them. Other specialized tools include snook hooks,curved hooks, hemostats, and tourniquets. The veterinarians use equipment thatare similar to the ones used by physicians adapted to the needs of their animalpatients. Modern veterinary equipment includes tools ranging from simplesurgical instruments and disposables such as needles and blades to hightechnology equipment with imaging capabilities. Specialized veterinariansprovides specialized services such as assistance for reproduction throughinsemination, which can be achieved through the ultrasound procedures,insemination equipment, and blood and fertility tests. The advanced equipmentused by the veterinarians include cold laser treatment machines,photo-biotherapy machines, surgical lasers, and others.
Market Dynamics
Rising incidence of animalrelated disorders coupled with increasing investments in veterinary healthcareis expected to drive growth of the veterinary equipment and disposables market.Chronic conditions such as pet cancer, foot and mouth disease, and lumpy skindisease are among the most commonly encountered chronic animal and livestockdiseases in the world. According to the Veterinary Cancer Society, 2016, canceris the leading cause of death in around 47% of the dogs diagnosed with cancerover the age of 10 and 32% of the cats, where Feline Leukemia Virus (FeLV) wasone of the leading cause of lymphoma in cats. According a report published bythe Royal Veterinary College, University of London, around 3,884 dogs weretreated with anal sac impaction procedures in London in 2013.
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Moreover, the rising investmentin animal healthcare is leading to development of innovative technologies suchas disposable veterinary infusion pumps for delivering various medical dosageof therapeutics to the pets. For instance, Body Guard 121 Twins introduced in2011 for vet consists of two independent channels that extend the therapeuticrange of option, as the device allows to set up fast high volume rapidinfusions, mix two different infusion solutions for an animal or infuse to twodifferent animals from one device. However, lack of accuracy in these devicessuch as software problems, alarm errors, and inadequate user interface designare expected to hinder the market growth.
Competitive Landscape
Key players operating in theglobal veterinary equipment and disposables market include Medtronic Plc,Smiths Medical, 3M Company, Digicare Biomedical Technology, Inc., VetlandMedical Sales and Services LLC, DRE Veterinary, Midmark Corporation, MilaInternational, Inc., Hallowell Engineering and Manufacturing Corporation, andothers. Market players are focused towards adopting strategic collaborations todevelop innovative products and cater to the demand of veterinarians to treatvarious diseases in animals. For instance, in February 2016, Analogic Corporationin collaboration with Oncura Partners Diagnostics LLC developed a cloud-basedultra-sound Telehealth service that applied real-time remote ultrasound imagingand services to the veterinary market.
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