Global Veterinary Injectable Devices Market Set to Reach USD 1 Billion by 2032, Fuelled by Rising Animal Healthcare Demands | FMI

The global veterinary injectable devices market is witnessing substantial growth, with a projected Compound Annual Growth Rate (CAGR) of 2.3% from 2022 to 2032. According to recent market analysis, the market is set to expand from USD 856.2 million in 2022 to an estimated USD 1 billion by the end of 2032.

This robust growth is primarily driven by the rising prevalence of various diseases among animals and an increase in healthcare spending for companion animals. As pets become integral members of households worldwide, there is a growing demand for advanced veterinary care solutions. The increasing importance of precise, targeted treatments is fueling the adoption of innovative veterinary injectable devices.

Veterinary injectable devices play a vital role in ensuring the health and well-being of animals. These devices enable the effective delivery of treatments, making them essential tools for veterinary practitioners globally. Their ability to deliver accurate dosages for a range of conditions ensures better health outcomes and more efficient care for animals.

With pet ownership on the rise and animal health gaining more attention, stakeholders in the veterinary healthcare sector are prioritizing investment in cutting-edge injectable devices. These technologies are crucial in improving treatment efficacy and streamlining veterinary processes, which is contributing to the growth momentum of the market.

As the veterinary injectable devices market continues to expand, it reflects the evolving landscape of animal healthcare. The market’s growth signifies the increasing importance of advanced medical technologies in meeting the needs of veterinary professionals and pet owners, paving the way for continued innovations in the industry.

The demand for veterinary injectable devices is on the rise due to several key factors driving growth in the market:

• Prevention and Treatment of Diseases: With animals playing a crucial role in human environments, there’s a growing emphasis on keeping them healthy to prevent the spread of diseases to humans. Injectable drugs offer a reliable and effective means of administering medication to animals, aiding in disease prevention and treatment.
• Efficient Administration: Compared to oral medication, injections offer a more straightforward and efficient route of drug administration. This ease of use has contributed to the positive trends observed in the veterinary injectable devices market.
• Rapid Action: Veterinary professionals often prefer injectable devices due to the rapid action they offer. This is particularly beneficial in cases where quick treatment is necessary to address acute conditions or emergencies.
• Advancements in Medication Innovations: Ongoing advancements in animal medication, including treatments for rare diseases, are creating significant opportunities for the veterinary injectable devices market. These innovations drive the demand for specialized injectable devices tailored to the specific needs of various animal species.
• Increasing Prevalence of Animal Diseases: The rising prevalence of various diseases among animals is a significant driver of market growth. As disease incidence increases, there’s a greater need for effective treatment options, spurring demand for veterinary injectable devices.
• Growing Healthcare Expenditure on Animals: Farmers and pet owners are increasingly investing in the healthcare of their animals, driving up healthcare expenditure in the animal healthcare sector. This increased spending contributes to the growth of the veterinary injectable devices market, as veterinarians have access to more resources for medication and treatment.

Overall, the combination of these factors is expected to fuel significant growth in the veterinary injectable devices market over the forecast period, with expanding opportunities driven by evolving healthcare needs and technological advancements in animal healthcare.

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Recent Developments:

In January 2022, ICU Medical Inc. acquired Smiths Medical, a prominent US-based supplier of syringes, ambulatory infusion devices, and other animal care products for the US market and surrounding regions.

In December 2021, Covetrus Inc., a US-based company, took over VCP’s technology platform and infrastructure. This acquisition is expected to enhance Covetrus’ ability to create new transactional channels with pet owners.

Key Players of the Veterinary Injectable Devices Market:

• Hamilton Company
• Neogen Corporation
• Micrel Medical Devices SA
• Serumwerk Bernburg AG
• PBS Animal Health
• Medtronic Public Limited Company
• Allflex USA, Inc.

Key Segments in the Veterinary Injectable Devices Market:

By Product Type:

• Syringes
• Needles
• Needle-Free Injection System
• Others

By Material Type:

• Plastic
• Glass
• Metals
• Others

By End User:

• Veterinary Hospitals
• Veterinary Clinics
• Animal Research Institutes
• Others

By Region:

• North America
• Latin America
• Asia Pacific
• Middle East and Africa (MEA)
• Europe

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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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