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Market Overview:
The global veterinary dental equipment market was analyzed by Market Research Future (MRFR) and it was projected that a notable CAGR of 9.5% will be attained by the market over the forecast period of 2018 to 2023. The valuation of the veterinary dental equipment market was further stated to surpass its previous valuation of USD 312 million in 2017 by the end of the forecast period in 2023.
The increasing incidence of periodontal diseases among animals is said to be one of the biggest driving factors for the global veterinary dental equipment market. Additionally, a vast array of factors is contributing to the overall growth of the market including increasing prevalence of veterinary dental problems, rising awareness about the health of animals, advancements in technologies, and increasing spending on pet insurance. However, the increasing cost associated with advanced dental equipment and the lack of proficient and experienced veterinarians in emerging nations can pose to be a major challenge for the global market.
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Competitive Landscape:
• J & J Instruments
• Acteon Group
• Charles Brungart
• Henry Schein
• Dispomed
• Cislak Manufacturing
• Dentalaire
• Midmark Corporation
• Eickemeyer
• iM3 Pty Ltd
Market Segmentation:
• The Global Veterinary Dental Equipment Market has been segmented in terms of type, end-user, and components.
• By product, the market includes consumables, equipment, hand instruments, and others. The equipment segment is narrowed down into dental stations, dental x-ray systems, dental lasers, electrosurgical units, and powered units. The dental x-ray systems segment is broken down into countertop dental stations, stationary dental x-ray systems, and mobile dental x-ray systems. Whereas the dental stations segment comprises wall-mounted dental stations and mobile cart dental stations.
• By end-user, the market divides into veterinary clinics, veterinary hospitals, research & academic institutes, and others.
• By animal type, the market includes companion animals, large animals, and others.
Regional Analysis:
The global veterinary dental equipment market is geographically distributed across the following key regions: Asia Pacific, North America, Europe, and the Middle East and Africa.
The Americas held the highest share to lead the global veterinary dental equipment market. This is due to the piling up expenditure on pet insurance and the presence of a number of major market players in the region. The US, in particular, boasts a huge population of pet owners. These pet owners spend considerable time on routine vet expenses and surgical visits to the vet. As per the statistics revealed by the American Pet Products Association (APPA), close to 65% of the US population own a pet, thereby aiding in the growth of the regional market.
Elsewhere, Europe stood out as another key regional market globally by ranking in the second spot. This is due to the widespread prevalence of periodontal diseases across the region. Asia Pacific was reported to be the fastest growing regional market over the forecast period. The growth of the region in veterinary dental equipment is due to the increasing awareness among consumers about animal healthcare. Lastly, the market in Middle East and Africa is expected to attain the least share over the forecast period because of the lack of economic development, particularly in the African region.