Albany, NY -- (SBWIRE) -- 12/07/2016 -- A recent report by Transparency Market Research (TMR), on the global veterinary equipment and disposables market discloses that a growth in the expenditure for animal health and a high demand for pet insurance are key factors driving the demand for equipment that are required for the treatment of animals. The report is titled, 'Veterinary Equipment and Disposables Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.' Governments across regions are funding researches and facilitating tax exemption on various veterinary equipment.

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It discusses various industry aspects such as restraining and driving factors, impact of various regulations on the market, and also studies the historical and present market trends. The underlying trends in the market and the potential scope of growth in the industry in the coming years are analyzed in the report. Further, the report segments the global veterinary equipment and disposables market on the basis of key criteria and studies each segment separately in detail, underlying the leading and declining segments and sub-segments.

The number of veterinary practitioners worldwide has been increasing and so are research projects on animal diseases and their treatment. This is creating a conducive environment for the veterinary equipment and disposables market. The number of research grants is expected to rise in the coming years and this is also expected to drive the demand for veterinary equipment and disposables. It has been observed that pet owners across the globe are spending a high amount for the diagnosis and treatment of their pets and this will drive the market. Technological advancements and developments in treatment are helping the market to grow. Most importantly, the growing prevalence of zoonotic disease outbreaks worldwide, is expected to boost the market for veterinary equipment and disposables.

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Some of the challenges faced by the global veterinary equipment and disposables market include, a shortage of skilled veterinarians, high cost of pet care, and low animal health awareness. The high price of technologically advanced devices will also restrict the adoption of these devices in clinics and hospitals.

The global veterinary equipment and disposables market is segmented on the basis of product and geography. On the basis of product, the market is segmented into anesthesia equipment x-ray equipment, ultrasound equipment, surgical equipment, endoscopy equipment, orthopedic equipment, ventilators, and warming units. By geography, it is expected that Asia Pacific will emerge as a lucrative regional segment, expanding at a robust pace. However, North America is currently leading and is expected to continue to lead in the market in the coming years.

Some of the key players in the market are 3M Company, DRE Veterinary Medtronic plc, Smiths Group plc, Midmark Corporation, and Vetland Medical Sales and Services LLC.

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