Anesthesia is a form of treatment in which the subject is administered with certain forms of medication that prevent it from experiencing any form of sensation of pain during the process of surgery. Anesthesia is applied in major species of animals such as cats, dogs, cattle, horsees, goats, pigs, and more. The procedure of anesthesia on animals is performed by a registered veterinary technician or a certified veterinarian. In cases of animals, anesthesia is used extensively, as animals, in most cases, are unable to cooperate with certain therapeutic or diagnostic procedures. Anesthetic machines are generally used for the purpose of anesthesia, owing to their safety and security.

Technological advancements in the field of veterinary anesthesia have boosted the adoption of equipment with better capabilities. The equipment offers advanced features and novel ventilation modes among others. Other factors such as increase in the prevalence of chronic disorders among companion animals, rise in pet ownership, and increase in the incidence of accidental injuries are key factors in contributing to the growth of the veterinary anesthesia equipment market. A rise in focus on animal care has resulted in an increase in pet adoption and rise in demand for products utilized for animal management. According to a survey conducted by the American Pet Products Association (APPA) in 2017-2018, a total of 85 million families, or 65% of households in U.S., owned one pet or more.  Since the National Pet Owners Survey was first conducted in 1988, the number of pet owners rose by a staggering 56%. Similarly, increase in expenditure on pet insurance has presented a lucrative environment for the growth of the veterinary anesthesia equipment market. According to the North American Pet Health Insurance Association (NAPHIA), the pet insurance sector in North America expanded rapidly, with the number of combined gross written premiums approaching US$ 1.2 Bn in 2017. However, high cost of veterinary products is likely to be a major restraint of the global veterinary anesthesia equipment market in the next few years.

The global veterinary anesthesia equipment market can be segmented based on product, animal, end-user, and region. In terms of product, the global veterinary anesthesia equipment market can be classified into complete anesthesia machines, ventilators, vaporizers, waste gas management systems, gas delivery management systems, and accessories. In terms of animal, the global veterinary anesthesia equipment market can bifurcated into small animals and large animals. Based on end-user, the global veterinary anesthesia equipment market can be classified into hospitals & clinics, emergency service centers, and veterinary homecare settings.

In terms of region, the global veterinary anesthesia equipment market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for a major share of the global market in terms of revenue in 2017. High number of pet owners, increase in pet ownership, rise in expenditure on animal health care, and supportive rules & regulations by governmental bodies are expected to propel the veterinary anesthesia equipment market in the region. Europe constituted a significant share of the global veterinary anesthesia equipment market in terms of revenue in 2017. However, the market in Asia Pacific is expected to expand at a high CAGR during the forecast period. Increase in awareness regarding animal care, rise in the population of domestic animals, and increase in the rate of pet ownership are likely to drive the market in the region in the near future. The market in Middle East & Africa and Latin America is projected to expand at a moderate rate during the forecast period. The market in these regions is expected to be propelled by an evolving lifestyle and improving economic and political scenario.

Key players operating in the global veterinary anesthesia equipment market include DRE Veterinary, Mediquip Pty Ltd, Patterson Companies, Inc., VETLAND MEDICAL SALES & SERVICES, Smiths Medical, Kent Scientific Corporation, Henry Schein, Inc., Dispomed ltd, Midmark Corporation,  and JD Medical.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Veterinary Anesthesia Equipment Market

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