The Global Veterinary Injectable Devices Market is estimated to reach over USD 1299.01 million by 2030, exhibiting a CAGR of 5.5% during the forecast period.
The market for veterinary injectable devices is predicted to expand significantly throughout the forecast period. The rising prevalence of numerous diseases among animals, as well as rising healthcare costs, are increasing the demand for veterinary injectable devices. Compared to companion animals, poultry and agricultural animals are at a higher risk of contracting sickness. If the disease spreads to farm animals or poultry, it can be fatal to all animals and humans. Farm animals and poultry mortality will result in financial losses. As a result, farm animals are vaccinated to prevent disease, resulting in increased sales of veterinary injectable devices. Syringes and needles are the top revenue-generating sectors of veterinary injectable devices and are likely to boost the market growth over the forecast period. The needle-free veterinary injectable systems market is growing and is likely to expand significantly over the next few years.
However, plastic is the preferred material for veterinary injectable devices as it's employed in the production of disposable injectable devices. Due to low prices and increased use of disposable injections, the plastic sector is projected to continue leading the veterinary injectable devices market.
The global veterinary injectable devices market is segmented based on devices, usage, and end-users. Based on devices, the market is segmented as syringes, needles, remote injection systems, and other device types. The other usage segment includes disposable, reusable, sterile, and other users (safety, etc.). By end-users, the market is categorized into animal research institutes & labs, veterinary hospitals, pet clinics, veterinary pharmacies, and other end-users.
Based on end-users, the veterinary hospital's segment is accounted as a major contributor to the global veterinary injectable devices market.
The veterinary hospital's category is expected to hold a significant share in the veterinary injectable devices market in 2021. Advanced diagnostic imaging, innovative therapeutics, nuclear and regenerative medicines, laser diagnostics, and specialist operations, all of which are available in veterinary hospitals and clinics, are contributing to the growth. Market growth is expected to be aided by companies' strategic developments in the veterinary hospital segment. For instance, AAD recently announced a USD 7 million investment to extend its platform for rapid, point-of-care animal and human health choices. Moreover, the reference veterinary pharmacies sector is also predicted to grow at the fastest rate over the projection period, as these labs can test for a variety of illnesses, hazardous substances, and chronic disorders in animal specimens.
The Syringes segment witnessed growth at a rapid rate.
The syringes segment is projected to grow at a rapid rate in the global veterinary injectable devices market, owing to the high availability of syringes in the market. Market players' initiatives in this segment are also expected to boost market growth. As a result of technological advancements, Veterinary Syringes are now simple to use. In addition, they take less effort from animal keepers and deliver accurate and prompt findings.
In the region, the North American veterinary injectable devices market holds a significant revenue share.
North America is the most attractive and highest revenue-generating veterinary injectable devices market owing to better veterinary healthcare facilities and increased expenditure on companion animals. North America is one of the world's largest meat-consuming markets, with tight regulations requiring that meat come from healthy animals. Moreover, market growth is likely to be aided by the increased acceptance of pet health insurance in the United States. On the other hand, Asia Pacific is projected to proliferate in the global veterinary injectable devices market owing to rising animal healthcare infrastructure and the presence of many farm animals and big poultry businesses. Furthermore, market expansion in this region has been aided by factors such as increased adoption of companion animals and rising animal health concerns. In addition, the Asia Pacific region's market is predicted to be driven by increasing expenditure on animal health and veterinary services, as well as the growing cattle population.
The key players in the global veterinary injectable devices market have shifted their focus towards bio-based components for product manufacturing and are initiating significant strategies such as mergers, acquisitions, and joint ventures of major and domestic players to enhance product portfolio and strengthen their market footprint across the globe. Some of the major key players in the global veterinary injectable devices market are Boehringer Ingelheim, TeleDart USA, H. Hauptner Und Richard Herberholz GmbH & Co. KG, Schippers Export BV, Akra Dermojet, Allflex Livestock Intelligence (SCR Engineers Ltd.), Terumo Medical Corporation, Neogen Corporation, Quick Shot Corporation, Syrinjector Ltd, Accesia, Aesthetic Group, AVID Pet MicroChip, Genia, Millpledge Veterinary, Nordson Efd, Pharma Supply Inc, UID Identification Solutions, Ultimed, and Vygon Vet.