According to research report the veterinary dental equipment market is projected to reach USD 490 million by 2023 from USD 329 million in 2018, at a CAGR of 8.3% during the forecast period. Growth in the global companion animal population, rising incidence of veterinary dental problems, and growth in the number of veterinary practitioners and income levels in developed economies during the forecast period are the primary drivers for the veterinary dental equipment market during the forecast period. However, the increasing cost of pet care is expected to restrain the growth of this market to a certain extent. This problem will be further exacerbated by low animal health awareness and the shortage of skilled veterinarians in emerging markets.
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On the basis of product, the veterinary dental equipment market is segmented into equipment, hand instruments, consumables, and adjuvants. The consumables segment is expected to register the highest growth during the forecast period. High usage of dental supplies, increasing awareness among pet owners for pet dental cleaning, and the rising demand for superior throughput & improved workflows are some of the key factors driving the growth of this segment.
Based on animal type, the veterinary dental equipment market is segmented into small companion animals and large animals. The small companion animals segment is expected to register the highest growth during the forecast period. Growth in this segment can be attributed to rising pet adoption, the growing prevalence of dental diseases in pets, growing expenditure on pet care, and the rising incidence of age-related dental problems in companion animals.
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Based on end user, the veterinary dental equipment market is segmented into veterinary hospitals, veterinary clinics, and academic institutes. The veterinary clinics segment is expected to register the highest growth during the forecast period. The growing number of patient visits and the increasing number of private clinical practices are driving the growth of this end-user segment.
Geographically, the veterinary dental equipment market in the Asia Pacific region is expected to witness the highest growth rate during the forecast period. Factors such as increasing pet adoption, rising awareness about animal health, and the growing per capita animal health expenditure in this region are driving the growth of the Asia Pacific veterinary dental equipment market.
The global veterinary dental equipment market is highly competitive and fragmented, with a large number of companies continuously trying to mark their presence. They are focused on developing enhanced dental equipment and diversifying their product portfolios to include every aspect of veterinary dentistry.