Vet equipment market to surpass $3B
by Katie Pfaff
The global market for veterinary medical equipment is forecast to grow by a CAGR of 9.2% across the next 4 years, according to a report by market analysis company, Reportlinker.com. The growth follows a 10.7% CAGR growth between 2021 and 2022.
In 2021, the global veterinary medical market was valued at $2.02 billion. By the end of 2022, the market is projected to increase to $2.23 billion. Further, by the close of 2026, the market is forecast to reach a value of $3.18 billion.
The veterinary equipment market is thought to be boosted by the proliferation of diagnostic devices that include ultrasound machines and x-ray devices. The common use of these across companion animal, exotic animal, and equine or other large animal vets have likely added to the growth in veterinary medical market.
The market report includes coverage of the entire market from equipment manufacturers, sell the devices, and service them. Veterinary medical equipment includes an array of tools from dental, endoscopic and endoscopic treatment devices with the goal of either diagnosis or treatment and monitoring.
In 2021, North America held the largest share of the market by region, followed by Asia Pacific.
Comments
Tag
Related Articles
Copyright © 2024 - All Rights Reserved
ISSN 2768-198X
List
Add
Please enter a comment