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Veterinary Infusion Pumps Market Size
Veterinary Infusion Pumps Market size was valued at USD 384.7 million in 2023 growing at a CAGR of 7.2% between 2024 and 2032. The key factors that drive the growth of the market include an upsurge in pet ownership with increasing spending on pet healthcare coupled with favorable insurance policies which is anticipated to boost veterinary infusion pumps demand.
For instance, National Pet Owners Survey conducted by the American Pet Products Association (APPA) 2023-2024 estimated that 66% of U.S. households, or about 86.9 million families, own a pet. Also, the pet industry expenditures in the U.S. totalled USD 147 billion in 2023, up 7.5 percent from USD 136.8 billion in 2022. Thus, the increase in the number of companion animals globally leads to an increasing incidence of chronic diseases such as cancer, diabetes, and kidney disorders in pets necessitates the use of infusion pumps for long-term treatment and fluid management, thereby anticipated to foster the growth of the market.
Veterinary infusion pumps are medical devices designed specifically for administering fluids, medications, and nutrients directly into the bloodstream of animals in a controlled and precise manner. The pumps are used in intensive care and anaesthesia. These pumps are used in various veterinary settings including clinics, hospitals, and research facilities, to ensure accurate and consistent delivery of substances over time.
What is the size of the veterinary infusion pumps market?
Global veterinary infusion pumps industry was valued at USD 384.7 million in 2023 and is anticipated to register 7.2% CAGR between 2024 and 2032 due to the upsurge in pet ownership with increasing spending on pet healthcare and favorable insurance policies.
Why is the demand for volumetric veterinary infusion pumps rising?
The volumetric segment in the market recorded USD 174.4 million in 2023, driven by growing number of veterinary clinics and hospitals with advanced medical infrastructure.
Why is the veterinary infusion pumps industry booming in North America?
North America veterinary infusion pumps market held 42.2% revenue share in 2023 driven by the rising number of pet owners and the growing penetration of pet insurance.
Who are the leading veterinary infusion pumps industry players?
Baxter International Inc., B. Braun Melsungen AG, Burtons Medical Equipment Ltd., DRE Veterinary, DURECT Corporation, Eitan Medical, Grady Medical Systems, Inc., Heska Corporation, and Instech Laboratories Inc., and among others.