Veterinary Ventilators Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 6.01 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Veterinary Ventilators Market Analysis
The veterinary ventilator market is projected to register a CAGR of 6.01%% during the forecast period.
The market observed a short-term negative impact due to the COVID-19 pandemic. Visits to veterinary hospitals and clinics decreased during the initial phase of the pandemic. This led to a decrease in disease diagnoses for pets and hampered the growth of the market. However, after lockdowns were lifted, disease diagnosis for animals resumed a steady pace, with a high risk of pneumonia among animals. For instance, according to an article published in PetMD in April 2022, bacterial pneumonia is common among puppies, seniors, and immune-compromised dogs. As per the source above, a dog can be at risk of viral or fungal pneumonia if they reside in shelters, long-term boarding, daycare, or dog parks. Thus, the burden of pneumonia among animals increases the demand for veterinary ventilation. Veterinary hospitals and clinics continue the treatment for respiratory distressed pets, which contributes to market growth. Hence, the COVID-19 pandemic had a significant impact on the market studied.
Factors such as growing animal health expenditure worldwide, increasing number of animal surgeries, and growing prevalence of veterinary diseases are major factors contributing to the growth of the market studied.
Diseases, such as lung diseases (pneumonia, acute respiratory distress syndrome, pulmonary contusions following trauma, and congestive heart failure), tick paralysis, myasthenia gravis, and others, are generally managed with mechanical ventilation. According to an article published by MSD in October 2022, inflammation of the pulmonary parenchyma, or pneumonia, causes breathing problems and is common in animals, such as dogs and cats.As per the same source, despite being rare, canine (dogs) tuberculous pneumonia occurs more frequently than in feline (cats) cases. Mycotic granulomatous pneumonia is more common in dogs than in cats, while in cats, cryptococcal pneumonia is reported more. Thus, the occurrence of various diseases among animals requires ventilation for treatment, creating demand for veterinary ventilation, which is expected to fuel market growth.
Tick paralysis is one of the most common reasons for emergency veterinary admissions for companion animals, and the treatment requires ventilation. An article published in PCBI in February 2022 mentioned that tick-borne diseases constitute a variety of debilitating conditions for pet dogs and cats. As per the same source, thousands of pet or domestic dogs are admitted to veterinary clinics due to tick paralysis for emergency treatment every year in Australia. Thus, the high burden of tick paralysis among the target veterinary population creates a high demand for ventilation for treatment, further driving the growth of the market studied.
The market is expected to witness growth over the forecast period due to the factors mentioned above. However, the lack of skilled professionals andnfrastructure in developing and underdeveloped countries are predicted to hamper market growth.
Veterinary Ventilators Market Trends
This section covers the major market trends shaping the Veterinary Ventilators Market according to our research experts:
Mechanical Ventilators are Expected to Witness Significant Growth
Mechanical ventilators are used to provide respiratory support to animals who are unable to maintain ventilation or oxygenation on their own. It is applied to treat a wide range of diseases. Even though no health condition can be cured by mechanical ventilation, it is used to support lung function while the underlying issue is being treated. Mechanical ventilators are used widely due to their advantages, which is expected to contribute to the growth of the segment.
According to the UFH 2022 update, animals are usually sedated during the procedures, which allows animals with severe lung disease to breathe easily. This is one of the major advantages of mechanical ventilation. As per the same source, the prognosis for veterinary patients receiving mechanical ventilation is much better. These advantages of mechanical ventilation create opportunities for innovations and technological advancements in equipment and are expected to fuel the segment's growth.
Studies that were conducted using mechanical ventilation resulted in positive outcomes for pet animals. In a research article published in VRC in January 2022, it was mentioned that hypoxemia, severe or progressive hypercapnia (partial arterial pressure of carbon dioxide), excessive work of breathing, and severe circulatory shock are the four main indications for mechanical ventilation in small animals. And in some cases when respiratory muscle weakness or paralysis occurs, severe hypoventilation can develop, which further creates the need for mechanical ventilation. Such instances create further demand for mechanical ventilators, thereby driving the segment's growth.
Therefore, owing to the factors mentioned above, the segment studied is expected to witness significant growth over the forecast period.
North America is Anticipated to Witness Growth
The United States is expected to retain its significant market share among other countries in North America. Factors such as a rise in insured pets and increasing per capita animal healthcare expenditure propel the growth of the market in the country. The growing trend of insurance for pet animals in the United States is predicted to propel market growth. For instance, as per the NAPHIA 2022 report update, 4.41 million pets were insured in North America at the end of 2021. The average monthly cost of pet insurance was USD 50 for dogs and USD 28 for cats for plans that cover accidents and diseases. Moreover, as per APPA 2022 updated report, USD 123.6 billion was spent on pets in the United States in 2021, which increased from around USD 99.0 billion in 2020. High expenditures by pet owners create a demand for better treatment options for pet animals. This is further anticipated to create opportunities for veterinary ventilators, thereby driving the market growth.
Pett ownership and the expenditure on pet health increased recently in other countries in the region, such as Canada and Mexico. The data published by 'Pet Keen' in May 2022 shows that pet owners in Canada spend more money on their pets than before. As per the same source, 17% of pet owners in Canada are willing to spend more than USD 500 every year for pet healthcare. There is also a rise in diseases among the veterinary population. This increases expenditures by pet parents, which is expected to drive the demand for veterinary ventilators, thus driving the market growth.
Therefore, the aforementioned factors are attributed to the growth of the studied market in North America, which is anticipated to continue over the forecast period.
Veterinary Ventilators Industry Overview
The veterinary ventilators market is moderately competitive with local and regional players. Market players focus on new product launches, product innovations, and geographical expansions. A few key market players include Avante Animal Health (DRE Veterinary), Miden Medical, Midmark Corporation, ICU Medical, Inc. (Smiths Medical), Vetronic Services Ltd, Hallowell EMC, VetEquip Inc., Metan Co., Ltd, RWD Life Science Co., LTD, Eickemeyer, VetEquip Incorporated, and MINERVE Veterinary Equipment, among others.
Veterinary Ventilators Market Leaders
Miden Medical
Midmark Corporation
Vetronic Services Ltd
ICU Medical, Inc. (Smiths Medical)
Avante Animal Health (DRE Veterinary)
*Disclaimer: Major Players sorted in no particular order
Veterinary Ventilators Market News
- In September 2022, the Southfields Veterinary Specialists opened its new state-of-the-art 42,000 sq ft veterinary hospital in Basildon, Essex. The new center was developed with an investment of nearly GBP 16 million (USD 18.42 million) and is one of the largest veterinary referral centers in the United Kingdom.
- In January 2022, ICU Medical Inc., a provider of veterinary ventilators worldwide, completed the acquisition of Smiths Medical from Smiths Group PLC.
- In November 2021, India's first veterinary ventilator hospital was launched in Ahmedabad, Gujurat, by Shaival Desai as a non-profit veterinary hospital. The hospital has fully equipped operating rooms and India's first animal vet ventilator.
Veterinary Ventilators Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Expenditure on Animal Health
4.2.2 Increasing Number of Animal Surgeries and Growing Prevalence of Veterinary Diseases
4.3 Market Restraints
4.3.1 Lack of Skilled Professionals
4.3.2 Lack of Infrastructure in Developing and Under-developed Countries
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Product
5.1.1 Electro-Pneumatic Ventilators
5.1.2 Mechanical Ventilators
5.1.3 Other Products
5.2 By End-User
5.2.1 Veterinary Hospitals
5.2.2 Veterinary Clinics
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle East and Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle East and Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Avante Animal Health (DRE Veterinary)
6.1.2 Miden Medical
6.1.3 Midmark Corporation
6.1.4 ICU Medical, Inc. (Smiths Medical)
6.1.5 Vetronic Services Ltd
6.1.6 Hallowell EMC
6.1.7 VetEquip Inc.
6.1.8 Metan Co., Ltd
6.1.9 RWD Life Science Co., LTD
6.1.10 Eickemeyer
6.1.11 VetEquip, Incorporated
6.1.12 MINERVE Veterinary Equipment
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Veterinary Ventilators Industry Segmentation
As per the scope of the report, veterinary ventilators are devices used as an aid for animals that are not able to maintain ventilation on their own. There is a wide range of veterinary ventilators available in the market for different animals. The veterinary ventilators market is segmented by product (electro-pneumatic ventilators, mechanical ventilators, and other products), end user (veterinary hospitals and veterinary clinics), and geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 countries across major regions. The report offers all values in USD million for the above segments.
| By Product | |
| Electro-Pneumatic Ventilators | |
| Mechanical Ventilators | |
| Other Products |
| By End-User | |
| Veterinary Hospitals | |
| Veterinary Clinics |
| Geography | ||||||||
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Veterinary Ventilators Market Research FAQs
What is the current Veterinary Ventilators Market size?
The Veterinary Ventilators Market is projected to register a CAGR of 6.01% during the forecast period (2024-2029)
Who are the key players in Veterinary Ventilators Market?
Miden Medical, Midmark Corporation, Vetronic Services Ltd, ICU Medical, Inc. (Smiths Medical) and Avante Animal Health (DRE Veterinary) are the major companies operating in the Veterinary Ventilators Market.
Which is the fastest growing region in Veterinary Ventilators Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Veterinary Ventilators Market?
In 2024, the North America accounts for the largest market share in Veterinary Ventilators Market.
What years does this Veterinary Ventilators Market cover?
The report covers the Veterinary Ventilators Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Veterinary Ventilators Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Veterinary Ventilators Industry Report
Statistics for the 2024 Veterinary Ventilators market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Veterinary Ventilators analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
