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.
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.
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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