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Veterinary Intravenous (IV) Solutions Market Trends
- Report ID: GMI10452
- Published Date: Jul 2024
- Report Format: PDF
Veterinary Intravenous Solutions Market Trends
- The rising adoption of pet insurance is significantly driving the growth of the veterinary intravenous (IV) solutions market. As pet ownership increases, more pet owners are recognizing the importance of having insurance to cover unexpected veterinary costs.
- For instance, according to the North American Pet Health Insurance Association (NAPHIA) 2024 State of the Industry (SOI) Report shows that over 6.25 million pets insured across North America (a 20.9% increase from the 5.17 million pets insured in 2022).
- Pet insurance helps mitigate the financial burden of veterinary care, encouraging pet owners to seek comprehensive treatments, including the use of intravenous (IV) solutions for their pets. With insured pets, owners are more likely to afford advanced treatments, which include IV therapies necessary for various conditions such as dehydration, surgery recovery, and chronic illnesses.
Frequently Asked Questions (FAQ) :
Global veterinary intravenous (IV) solutions industry was valued at USD 1.5 billion in 2023 and is anticipated to register 8% CAGR between 2024 and 2032, driven by advancements in veterinary medicine and increase in pet adoption and spending on pet healthcare.
The hospitals & clinics segment in the market is expected to reach USD 1.7 billion by 2032 due to high patient volumes, advanced equipment, and skilled staff driving IV therapy utilization.
North America veterinary intravenous solutions market is expected to reach USD 1.2 billion by 2032, fueled by the rising chronic diseases in pets requiring intensive IV management.
B. Braun Melsungen AG, Ceva Sant
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