The recent years have observed a significant rise in prevalence of veterinary chronic diseases, such as arthritis, chronic kidney disease, hepatitis, skin allergies (atopy), diabetes mellitus, Cushing's and Addison's disease, inflammatory bowel disease, hyperthyroidism (cats) and hypothyroidism (dogs), etc. Hence, the number of various surgical procedures associated with these diseases have also increased across the world. According to the data reported by Frontiers of Veterinary Science, the prevalence of canine obesity and obesity-related metabolic dysfunction (ORMD), such as hypertension, and fasting hypertriglyceridemia/hypercholesterolemia have been recorded to be 40.9%, and 20.4% respectively, in Spain in the year 2017. Hence, the overall prevalence of canine obesity was recorded as 22.6% as per the NCBI data, which is expected to open new avenues for growth in the market of Bariatric and Metabolic surgeries of animals. Similarly, there are statistics across all major countries which supports the consistent use of anesthetic products in veterinary animals contributing to the growth of those products in the veterinary healthcare domain. In addition to the aforementioned factors, the rise in other chronic diseases concerning animals coupled with their associated treatment procedures is expected to propel the market growth over the forecast period.
Key Market Trends
On Trolley Segment is Expected to Show Better Growth Over the Forecast Period
Based on the product, it is segmented into on trolley, wall-mounted, and tabletop. The main factor attributing to the growth of this segment is the high convenience associated with the product. These are usually mounted on anti-static wheels for transportation. Generally, the price of on trolley veterinary anesthesia machines can range from USD 400 to USD 6000, based upon the facilities it provides and the types of animals it is used for. The key players which manufacture on trolley anesthesia machines are JD Medical Dist. Co. Inc, Kent Scientific Corporation, Midmark Corporation, etc. Hence, the high accessibility of these products is expected to fuel the market growth in the forecast period.
Asia-Pacific is Expected to Show Faster Growth in the Veterinary Anesthesia Market
The veterinary anesthesia market is expected to show faster growth in the Asia Pacific due rise in awareness about animal health and ongoing technological innovations as a result of rapid urbanization. In addition, the rise in livestock population, pet adoption, and growing animal health expenditure in the region, have encouraged government initiatives for increasing awareness in the geographical region. Moreover, the recent developments in the manufacturing of devices with low cost, but advanced technology in China are expected to create new growth opportunities for the market players. Hence, the anesthesia devices market in the country is expected to be fueled by the aforementioned factors over the forecast period.
The global players into the veterinary anesthesia market are JD Medical Dist. Co. Inc., Kent Scientific Corporation, Midmark Corporation, Mindray Medical International Limited, Patterson Scientific, Smiths Group, Supera Anesthesia Innovations, Tecnología Veterinaria y Médica, S.L and Vetland Medical Sales & Services, LLC.
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