The veterinary injectable devices market is poised to witness a CAGR of 2.3% during the years 2022 to 2032. Over this projection period, the veterinary injectable devices market share is estimated to reach a net worth of USD 1 Billion by improving from the current valuation of USD 856.2 Million in this year 2022.
The increasing prevalence of various diseases among animals is driving the veterinary injectable devices market growth. Companion animals have become a part of people’s life and healthcare expenditure on these animals have increased further strengthening the veterinary injectable devices market share in present times.
| Attributes | Details |
|---|---|
| Veterinary Injectable Devices Market Value in 2022 | USD 856.2 Million |
| Veterinary Injectable Devices Market Value in 2032 | USD 1 Billion |
| Veterinary Injectable Devices Market CAGR (2022 to 2032) | 2.3% |
Increased healthcare expenditure in developing countries to keep food products and animals healthy is also driving the growth of the veterinary injectable devices market size. Increasing regulatory approval of injectable drugs in these countries for animal health is also boosting the target market opportunities.
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As animals play an important role in the human environment, so it is important to keep the animals healthy and prevent the spread of diseases to humans. For such purposes, generally, drugs are administered to animals using injections.
The easy administration of drugs through injections as compared to the oral route has set the veterinary injectable devices market trends positively in the present-day animal healthcare sector.
Several veterinary doctors also prefer injectable devices as this route of administration shows rapid action. Further advancement in animal medication innovations for rare diseases is poised to create huge opportunities for the veterinary injectable devices market in the future.
The veterinary injectable devices market is expected to show significant growth over the forecast period owing to the increasing prevalence of various diseases among animals. Growing healthcare expenditure on animals by farmers is also a major factor that is influencing the growth of veterinary injectable devices market opportunities.
Syringes and needles are the highest revenue-generating segments of veterinary injectable devices and are expected to be continuing to dominate the veterinary injectable devices market over the forecast period. The market of needle-free veterinary injectable systems is popularizing and is expected to show significant growth over the forecast period.
Plastic is the material of choice for veterinary injectable devices as it is used for the manufacturing of disposable injectable devices. The Plastic segment is expected to keep dominating the veterinary injectable devices market due to low prices and increased use of disposable injections.
As per the veterinary injectable devices market analysis report by FMI, North America holds a market share of 31% of the overall sales in 2022.
North America is the most attractive and highest revenue-generating veterinary injectable devices market due to the presence of better veterinary healthcare facilities. Increased expenditure on companion animals in the USA and have also contributed to gaining the momentum for veterinary injectable devices market future trends in the region.
North America is one of the biggest meat-consuming markets and there are strict laws regarding that meat should be from healthy animals further augmenting the veterinary injectable devices market share in the region.
According to the new market research report on veterinary injectable device adoption trends, Asia Pacific is likely to generate a revenue share of 25% of the overall market in 2022.
The Asia Pacific is expected to be the fastest-growing veterinary injectable devices market during the forecast period due to increasing animal healthcare infrastructure and presence of large no of farm animals, and the emergence of big poultry businesses.
Poultry and farm animals are always at a higher risk of getting the disease as compared to companion animals. The death of farm animals and poultry will lead to financial losses. So, vaccination is done among farm animals through government support to prevent them from disease and is expected to lead to increased sales of veterinary injectable devices in the regional market
A lot of opportunities have surfaced in the regional veterinary injectable devices market around the world, owing to which several start-ups have come up in the last couple of years. These new veterinary injectable device market players are majorly targeting online consumers for the use of such devices in home care settings.
Some of the recent entrants in the veterinary injectable devices market are Hanke Sass Wolf, Zovix Pharmaceuticals, MSD Animal Health, and Zoeis Animal Health.
A major focus of these companies is on the development of disposable and needle-free syringes. Along with product innovation veterinary injectable devices market players are also focussing on spreading awareness about the benefits of animal medication as their major strategy.
ICU Medical Inc. acquired Smiths Medical of USA in January 2022. Smiths Medical produced and supplied syringes and ambulatory infusion devices and other animal care products for the market of the USA and adjacent countries.
| Attributes | Details |
|---|---|
| Growth Rate | CAGR of 2.3% from 2022 to 2032. |
| The base year for Estimation | 2022 |
| Historical Data Available for | 2016 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered |
Product Type, Material Type, End User, Others |
| Regions Covered |
North America; Latin America; Asia Pacific; Japan; Western Europe; Eastern Europe; Middle East & Africa |
| Key Countries Profiled | United States of America, Canada, Brazil, Argentina, Germany, United Kingdom, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, GCC Countries, South Africa |
| Key Companies Profiled |
Hamilton Company; Neogen Corporation; Micrel Medical Devices SA; Serumwerk Bernburg AG; PBS Animal Health; Medtronic Public Limited Company; Allflex USA, Inc. |
| Customization | Available upon Request |
The veterinary injectable devices market is anticipated to register a CAGR of 2.3% through 2032.
The veterinary injectable devices market is estimated around USD 856.2 Million in 2022.
The veterinary injectable devices market is poised to be valued at USD 1 Billion by 2032.
The North American region captures a share of 31% of the veterinary injectable devices market.
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Veterinary Injectable Devices Market
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