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Veterinary Dental Equipment Market to Reach $537.46 Million, Globally, by 2032 at 5.8% CAGR: Allied Market Research
Rise in demand for specialty veterinary care, the surge in technological advancement and increase in number of key market players that manufacture dental equipment for animals drive the growth of the global veterinary dental equipment market. However, high cost of veterinary dental equipment is hampering the veterinary dental equipment market growth. On the contrary, rise in awareness of dental health for animals and increase in adoption of small animals such as dogs, cats, and rabbits lead to increase in demand for veterinary dental equipment that are anticipated to create new opportunities for the growth of market during the forecast period.
Technological advancement in veterinary dental equipment
Based on product, the equipment segment held the highest market share in 2022, accounting for more than two-fifths of the global veterinary dental equipment market revenue and is estimated to maintain its leadership status throughout the forecast period, owing to rise in adoption of this devices for diagnosis and treatment of pets. However, hand instruments segment is projected to manifest significant growth with a CAGR of 6.6% from 2023 to 2032, owing the use of hand instruments in majority of the dental procedures.
Based on animals, the small animals segment held the highest market share in 2022, accounting for more than three-fifths of the global veterinary dental equipment market revenue and is estimated to maintain its leadership status throughout the forecast period. This segment is projected to manifest a fastest CAGR of 6.1% from 2023 to 2032, owing to significant increase in pet ownership, particularly for small animals like cats and dogs. However, the large animals' segment is projected to manifest a significant CAGR of 5.2% from 2023 to 2032, owing to the growing adoption of large animals such as cows, buffaloes, horses and various others has led to increase the risk of dental disorders which increases the demand for veterinary instruments, equipment and consumables that propels the growth of the market.
Based on end users, the veterinary hospitals segment accounted for the largest share in 2022, contributing to nearly half of the global veterinary dental equipment market revenue, as preference of large number of pet owners. This segment is projected to manifest a fastest CAGR of 6.3% from 2023 to 2032. However, the veterinary clinics segment is expected to portray a significant CAGR of 5.5% from 2023 to 2032. This is owing to the increase in pet population driving the need for veterinary clinics across the world.
Based on region, North America held the highest market share in terms of revenue in 2022, accounting for more than two-fifths of the global veterinary dental equipment market revenue and is likely to dominate the market during the forecast period. The veterinary dental equipment market is mainly driven by the high number of domestic pets such as dogs and cats. The upsurge in healthcare expenditure in the emerging economies is anticipated to offer lucrative opportunities for market expansion. However, the Asia-Pacific region is expected to witness the fastest CAGR of 7.0% from 2023 to 2032 and is likely to dominate the market during the forecast period, owing to the large number of cattle ownerships especially in countries like India and rise in number of key players manufacturing veterinary dental equipment.
The report provides a detailed analysis of these key players of the global veterinary dental equipment market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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