WILMINGTON, DE / ACCESSWIRE / February 6, 2023 / Transparency Market Research Inc. - According to a TMR study, the global veterinary ventilators market is anticipated to grow at a CAGR of 2.5% during the forecast period from 2022 to 2031.
A veterinary ventilator offers respiratory support to animals who face difficulty in breathing. It helps treat acute respiratory failure, which could be life-threatening if not treated promptly.
Launch of new veterinary ventilators is helping leading players increase revenue and gain an edge over the competitors. Additionally, prominent market players are collaborating with other players to expand market presence and increase revenue share.
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Key Findings of Market Study
- Rise in Demand for Pneumatic and Electro-Pneumatic Veterinary Ventilators: Based on product type, the global market has been divided into electronic, pneumatic & electro-pneumatic, and others. The pneumatic & electro-pneumatic product segment is anticipated to account for significant market share during the forecast period. Pneumatic and electro-pneumatic veterinary ventilators can function without a power source, thereby making them suitable for use at remote locations. Additionally, pneumatic ventilators are inexpensive and reliable, which is likely to fuel product demand and bolster industry growth.
- Increase in Demand for Veterinary Ventilators for Small Animals: In terms of animal type, the global market has been bifurcated into small and large. The small animals segment accounted for dominant share in 2021. Small animals have shown greater vulnerability to developing respiratory diseases, which is likely to fuel demand for veterinary ventilators. Veterinary ventilators for small animals are inexpensive and portable than for large animals, which is likely to increase product demand and propel the market.
- Rise in Demand from Veterinary Clinics: Based on end-use, the global market is classified into veterinary clinics, veterinary hospitals, and others. The veterinary clinics segment is anticipated to account for dominant market share during the forecast period. Veterinary clinics can offer treatment to a large number of animals and use different types of ventilators, such as pneumatic and electro-pneumatic to accommodate numerous animals, which is expanding market size.
Veterinary Ventilators Market - Key Drivers
- Rise in incidence of respiratory diseases in animals, such as cats and dogs, is likely to drive the market during the forecast period
- Increase in demand for veterinary care is projected to bolster market development in the next few years
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Veterinary Ventilators Market - Regional Landscape
- North America is anticipated to account for the largest market share during the forecast period. Increase in expenditure on pet healthcare and rise in adoption of animals for companionship in the U.S. and Canada are likely to drive the market.
- Europe is projected to offer lucrative business opportunities for market players due to large population of livestock in countries such as the U.K. and Germany
- Asia Pacific is estimated to witness strong growth during the forecast period due to surge in the number of pet owners and rise in disposable income in China and India
Veterinary Ventilators Market - Key Players
The global market is competitive, with the presence of several international and local players. Entry of new players is likely to intensify the competition during the forecast period. Well-established market players are investing in R&D to manufacture improved veterinary ventilators that meet consumer requirements.
Key players operating in the market are RWD Life Sciences, DRE Veterinary, Vetronic Services, VETMAX, and Midmark Corporation.
The global veterinary ventilators market has been segmented as follows:
- By Product
- Electro-pneumatic Ventilators
- Mechanical Ventilators
- Others
- By End-use
- Veterinary Hospitals
- Veterinary Clinics
- Others
- By Animal Type
- Small Animals
- Large Animals
- Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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