Veterinary Anesthesia Market to Reach $228.8 Million, Globally, by 2031 at 4.6% CAGR: Allied Market Research

Rise in prevalence of orthopedic issues and chronic diseases in animals, high potential in untapped and emerging markets due to the availability of improved animal healthcare infrastructure, and high focus on innovation in animal healthcare drive the global veterinary anesthesia market.

PORTLAND, Ore., Jan. 11, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Veterinary Anesthesia Market by Product (Anesthesia Machines, Vaporizers, Others), by Animals (Small animals, Large animals), by End User (Veterinary Hospitals and Clinics, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031." According to the report, the global veterinary anesthesia industry generated $145.6 million in 2021, and is estimated to reach $228.8 million by 2031, witnessing a CAGR of 4.6% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.

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Drivers, Restraints, and Opportunities

Rise in prevalence of orthopedic issues and chronic diseases in animals, an increase in the number of cruciate ligament rupture in dogs worldwide, high potential in untapped and emerging markets due to the availability of improved animal healthcare infrastructure, increase in unmet healthcare needs, a surge in the demand for veterinary anesthesia machines, and high focus on innovation in animal healthcare drive the growth of the global veterinary anesthesia market. However, high cost of veterinary anesthesia equipment and lack of veterinary infrastructure facilities in underdeveloped nations hamper the global market growth. On the other hand, rise in animal welfare organizations and surge in adoption of companion animals are likely to present new growth opportunities for the global market in the coming years.

Covid-19 Scenario

The outbreak of the COVID-19 pandemic had a negative impact on the growth of the veterinary anesthesia market, owing to a decrease in demand for anesthesia machines during the lockdown period.

Few people visited veterinary clinics and hospitals due to the risk of catching the Covid-19 infection.

However, the market has returned to its normalcy post the pandemic.

The anesthesia machines segment to maintain its dominance during the forecast period

Based on product, the anesthesia machines segment held the largest market share of nearly three-fifths of global veterinary anesthesia market in 2021, and is expected to maintain its dominance during the forecast period. Moreover, the same segment is projected to witness the largest CAGR of 4.9% from 2022 to 2031. The growth of the segment is attributed to a rise in the number of surgeries in animals which require anesthesia machines and equipment. The report also studies the vaporizers and others segments.

The small animals segment to maintain its dominance during the forecast period

Based on animals, the small animals segment held the largest market share of nearly three-fourths of global veterinary anesthesia market in 2021, and is expected to maintain its dominance during the forecast period. Moreover, the same segment is projected to witness the largest CAGR of 4.8% from 2022 to 2031, owing to the rise in adoption of small animals and an increase in the number of pet insurance purchase. The report also provides an analysis of the large animals segment.

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The veterinary hospitals and clinics segment to maintain a progressive growth during the forecast period

Based on end user, the veterinary hospitals and clinics segment was the largest market in 2021, contributing to nearly three-fourths of the global veterinary anesthesia market, and is expected to maintain its leadership status during the forecast period. Moreover, the same segment is projected to witness the fastest CAGR of 4.8% from 2022 to 2031, owing to the rapid expansion of emergency and critical care units in veterinary hospitals, availability of affordable veterinary anesthesia in hospitals and clinics, and a rise in the number of veterinary clinics.

Asia-Pacific to grow at the fastest CAGR during the forecast period

Based on region, North America was the largest market in 2021, capturing around half of the global veterinary anesthesia market and is likely to achieve the largest revenue during the forecast period.  The is due to a rise in the pet population and well-established animal healthcare infrastructure in the region. However, the Asia-Pacific market is expected to manifest the fastest CAGR of 5.4% during the forecast period, owing to factors such as rise in investments in manufacturing of high-quality veterinary anesthesia machines and increase in pet insurance policies in the region. The other regions discussed in the report include Europe and LAMEA.

Leading Market Players

• JD Medical
• Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
• Supera Anesthesia Innovations
• Kent Scientific Corporation
• ICU Medical, Inc.
• Patterson Scientific
• Everest-Tecnovet S.L.
• Dispomed Ltd.
• Midmark Corporation
• Vetland Medical Sales & Services

The report analyzes these key players of the global veterinary anesthesia market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.

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