Veterinary Anesthesia Equipment Market:
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The veterinary anesthesia equipment market consists of sales of veterinary anesthesia equipment and related services. Veterinary anesthesia equipment is used to deliver anesthetic agents into patients’ bodies to prevent the pain or discomfort during surgical procedures.
The global veterinary anesthesia equipment market is expected to decline from $0.7 billion in 2019 to $0.6 billion in 2020 at a compound annual growth rate (CAGR) of -17.7%. The decline is mainly because of worldwide supply and demand mismatches of resources due to the COVID-19 outbreak. There is an inadequate production of veterinary medical equipment due to the restrictions imposed by governments of various countries to shutdown factories or function with minimal staffing to contain the spread of virus and keep the staff safe. The market is then expected to recover and grow at a CAGR of 7.2% from 2021 and reach $1 billion in 2023.
The veterinary anesthesia equipment market has been geographically segmented into North America, Western Europe, APAC, Eastern Europe, South America and Middle East & Africa. The North American market is the largest market for veterinary anesthesia equipment and is expected to continue to be the largest market during the forecast period.
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Rising prevalence of oral diseases in dogs and cats is driving the market for veterinary anesthesia equipment used during oral examinations. Diagnosis and treatment of oral diseases, dental cleaning requires pet animals to be under general anesthesia as it is difficult to handle animals when they are awake and conscious. According to the American Veterinary Dental College, periodontal disease is the most common clinical condition occurring in adult dogs and cats. Thus, rising prevalence of oral diseases in pet animals is increasing the demand for veterinary anesthesia equipment driving market growth.
The high prices of veterinary anesthetic equipment is acting as a restraint on the market. It is expensive for small veterinary hospitals and clinics to buy and maintain anesthesia equipment, thereby limiting market penetration. High price of the equipment can be attributed to advanced technology used in the equipment.
Manufacturers of veterinary anesthesia equipment are introducing products with advanced features to provide safe and reliable treatment. The new products being introduced offer solutions to problems like power failure, battery failure or exhaustion and failure of electronic components. Companies such as DRE veterinary and Supera have been investing in introducing anesthetic machines with safety features.
Manufacturers of veterinary anesthesia equipment are required to adhere to stringent regulations set by various regulatory bodies. For instance, the US Food and Drug Administration’s (FDA) Center for Veterinary Medicine (CVM) regulates the market for veterinary devices in the USA. The FDA issues guidelines with respect to manufacturing, procuring, packaging, branding, selling and usage of medical devices. Also, the FDA encourages veterinarians and pet owners to report defects in veterinary medical equipment.
Major players in the market are JD medical, Midmark Corporation, Smiths medical, Mindray Medical and Kent Scientific.
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