Global Veterinary Furniture Market is growing trends through increasing demand for animal health
Global Veterinary Furniture Market is growing trends through increasing demand for animal health
Blog Article
The veterinary furniture market consists of wide range of products such as examination tables, surgical tables, cages, trolley and other equipment used in veterinary practices and animal healthcare facilities. These equipments provide veterinarians optimal functionality and facilitate easy handling of animals during examination and surgeries. Growing companion animal ownership and focus on animal well-being are driving more people to take their pets for regular checkups, accelerating the demand for veterinary furniture.
The Global Veterinary Furniture Market is estimated to be valued at US$ 4.49 Bn in 2024 and is expected to exhibit a CAGR of 6.1% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Global Veterinary Furniture market are TECHNIK Veterinary, David Bailey Furniture, DRE Veterinary, Burtons, Midmark, Lubb, Shor-Line, Vet-Ray, Edemco, Mano Médical, Vetinox, GPC Medical, Everest Tecnovet, Staybrite, Techline, CASCO Pet, KahmaVet, G2 Automated Technologies, National Meditek, VETBOT, and TriStar Vet.
The Veterinary Furniture Market Trends pet ownership is driving more people to adopt preventive healthcare for their pets. With rising pet health awareness, veterinary practices are witnessing higher footfalls leading to increased demand for advanced veterinary furniture for quality pet care and treatment.
The veterinary furniture market is expanding globally with increasing pet healthcare adoption in developing regions. Leading players are focusing on emerging markets of Asia Pacific and Latin America through new product launches, partnerships and acquisitions to tap the growing market potential.
Market Key Trends
Adoption of innovative technologies by key furniture manufacturers is one of the major trends witnessed in the veterinary furniture market. Manufacturers are investing in AI, IoT integrated equipment to enhance functionality for both veterinarians and animals. For instance, German based G2 Automated Technologies offers animal behavior monitoring system integrated surgical tables. Such innovations are gaining popularity amongst veterinary clinics.
Porter's Analysis
Threat of new entrants: The veterinary furniture market requires substantial investment for manufacturing and distribution channels. Established brands dominate the market.
Bargaining power of buyers: Buyers have moderate bargaining power given the differentiated products offered by manufacturers. However, price is a key consideration for most buyers.
Bargaining power of suppliers: A few key manufacturers globally supply veterinary furniture. This gives them significant bargaining power over buyers in terms of pricing and product specifications.
Threat of new substitutes: There are no cost-effective substitutes for specialized veterinary furniture. However, general purpose furniture is sometimes used for non-critical applications.
Competitive rivalry: The market is fragmented with the presence of numerous global and regional players. Manufacturers compete based on product quality, innovation, service, and pricing.
Geographical Regions
North America dominates the global veterinary furniture market currently, accounting for over 30% of the total market value. This is attributed to high pet ownership rates and growing animal health expenditure in countries like the U.S. and copyright. Asia Pacific is expected to be the fastest growing regional market during the forecast period owing to rising awareness, increasing per capita income, and expansion of veterinary healthcare facilities in the region especially in India and China.
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About Author:
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
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