This research report analyzes this market depending on its market segments, major geographies, and current market trends.Veterinary Examination Tables Market - Global Industry Analysis, Size, Share, Growth, Trends And Forecast 2015 - 2023
Albany, NY -- (SBWIRE) -- 09/25/2015 -- Veterinary care or animal care has experienced increased demand in the past few years. Animal health, especially farm animals has gained key focus after human invasion of animal viruses. Increased food safety and related government policies have fueled veterinary healthcare market globally. In addition, there is also a surge in regular check up of pets in the developed countries. According to American Veterinary Medical Association, in 2012, over 36% households owned dogs while 30% owned cats in the U.S. To meet these demands, it is expected that there would be an increase in veterinary practitioners.
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Global veterinary examination tables market is anticipated to grow at a faster rate owing to worldwide increasing number of veterinary clinics. Various types of veterinary examination tables are available in the market which includes wall-mount, pedestal base exam table, fold-up exam table, hydraulic lift table and electric lift table. Wall-mount and fold-up examination tables are beneficial to manage clinic space. They provide flexibility and also avoid any accidents caused by animals. The market for veterinary examination tables has a wide product portfolio, thus providing most suitable options to veterinary doctors. Fragmented market with low product differentiation and easy availability of raw materials has reduced the barriers to entry. Currently the market is dominated by large number of local layers. In spite of such lucrative opportunities in the future, the market would suffer from low profit margins due to constant increasing competition. Low volume sales and numerous options to choose from, makes the market even competitive.
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North America leads the veterinary examination tables market. According to statistics published by American Pet Products Association (APPA), total United States pet industry expenditure increased from USD 32 billion in 2003 to over USD 55 billion in 2013. Of the total expenditure in 2013, approximately USD 27 billion was spent on supplies, OTC medicines and vet care. Another contributing factor is regular annual check-ups due to increasing awareness about animal diseases and their threat to human health. International Federation for Animal Health Europe published data suggesting that Europe's animal health industry in 2012 was over 3% of the European human pharmaceutical industry. The data also mentions that in the EU there are more than 200 million pets of which 66 million are cats while 60 million are dogs. Thus a huge market opportunity exists for veterinary examination tables in these regions. Asia Pacific is expected to witness faster growth rate owing to changing life style and growing per capita income. Rising disposable income and increasing fear of acquiring animal diseases has also added to the market surge. A survey conducted in 2012, by the Pet Food Institute of Japan, reveals that over 25% of domestic households have a pet cat or dog. Various publications suggest that the pet industry in Japan is on the rise and has created lucrative opportunities for global veterinary medical care providers. Being the second largest healthcare market globally, Japan has been on the main focus for veterinary care market.
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Some of the key players in the global veterinary examination table market include Paragon Medical Supply, Inc., DRE Medical, Inc., VSSI, Inc., Olympic Veterinary, Midmark Corp., Alvo Medical, Shor-Line, Technik Technology, McDonald Veterinary Equipment and Diagnostic Imaging Systems.
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