Veterinary Dental Equipment Market: Current Analysis and Forecast (2021-2027)
The increasing number of global companion animal population and their growing prevalence to veterinary dental problems is flourishing the veterinary dental equipment market with a huge pace. For instance, according to the 2019-2020 National Pet Owners Survey conducted by the American Pet Products Association (APPA), 67% of the United States households or around 85 million families, own a pet compared from 56% U.S. households in 1988, first time the survey was conducted. Further, the increasing number of veterinary practitioners and their income levels in developed countries will also boost the veterinary dental equipment industry. As per the Veterinary Practitioners Board of New South Wales around 3800 Veterinary practitioners were registered in the period of 2007 to 2019 and 24 veterinary practitioner new specialist registrations were also recorded between this time.
The growing number of oral diseases such as periodontal and gingivitis in companion animals and the rising awareness among pet owners about the importance of maintaining pet oral hygiene is burgeoning the veterinary dental equipment market. For instance, according to the American Veterinary Dental College (AVDC) in May 2021, the main region behind the less preference of dental problems by the vet's parents lies with a lack of adequate dentistry education for some veterinarians. They note the AVDC just celebrated its 25th anniversary one year ago, so awareness of oral disease is new to the field of veterinary medicine. Further, the new technological advancements in the field of veterinary dental equipment is also surging this markets growth. For example, in April 2020, Planmeca Oy, a dental equipment manufacturer company has launched their new product "Planmeca ProScanner 2.0", an imaging plate scanner which is designed for active use. It is extremely durable, very reliable and produces high quality images.
Some of the factors which can hamper the growth of this market include high cost of pet care services, lack of animal healthcare awareness, and deficiency of skilled veterinarians. Further, the relatively lower animal health expenditure by developing countries such as India, China, Brazil, and some Southeast Asian countries where the population of large companion and farm animals is high as compared to developed countries like North America and Europe will also, hinder the growth of veterinary dental equipment market in the forecast period
Since the World Health Organization (WHO) announced that Covid-19 had become a global pandemic, and it has affected almost all the sectors of the market, so it affected the veterinary dental equipment market as well. But the main region which majorly affected this market was its origin. The outbreak of COVID-19 was originated from a meat market in Wuhan (China) and many people during the pandemic stopped the consumption of food products derived from animal sources. For instance, according to the article of Frontiers in Veterinary Science in May 2021, The production capacity of meat products achieved a loss of 25-43% for beef slaughterhouses in the United States. Further, the veterinary dental practices reopened; still, the overall animal visit capacity remains below pre-COVID-19 levels
Based on product, the market is bifurcated into equipment, hand instrument, consumables, and adjuvants. The equipment segment grabbed the major market in 2020. The equipment segment is further divided into dental x ray system, dental station, electrosurgical units, dental lasers, and powered units. The dental x ray system is anticipated to show significant growth during the forecast period due to their major advantages in dental investigation. Further, the growing acceptance of dental x-ray system by veterinary practitioners is also boosting this segments growth in the forecast period
Based on animal type, the market is bifurcated into small companion animal and large animal. The small companion animal segment ruled the major market and accounted for the maximum share in 2020 owing to the growing adoption pets and increasing spending of pet parents on their companion care
Based on end-user, the market is bifurcated into Veterinary Hospital, Veterinary Clinics, and Academic Institute. The Veterinary Clinics segment ruled the major market and accounted for the maximum share in 2020 due to their wide range of services, quick availability, and skilled professionals. Further, the growing number of veterinary clinics across the world is anticipated to drive the veterinary dental equipment market over the forecast period
For a better understanding of the market adoption of veterinary dental equipment, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia and Rest of APAC), and Rest of World. North America constitutes a major market for veterinary dental equipment and generated maximum revenue in 2020 owing to the high government initiatives, robust veterinary dental expenditure, developed awareness programs, and the presence of key players operating in this field.
Moreover, the increasing companion pet population across the country are also propelling the veterinary dental equipment market in this region. For instance, accor4ding to a study of pet secure, till March 2021, the USA incorporated for the highest population of dogs and cats in their households. It was about 69.92 million dogs and 74.05 million cat's population which is larger than any other countries across the globe. Also, more than half of the Americans have a dog or a cat in their home. And 9 out of 10 Americans say they consider their pet to be a part of their family
Some of the major players operating in the market include: Planmeca, Midmark Corporation, Henry Schein Inc., Eickemeyer, Scil Animal Care, iM3 Inc., Dentalaire, Dispomed, MAI Animal Health, Acteon Group, etc. Several M&As along with partnerships have been undertaken by these players to boost their presence in different regions
The Veterinary Dental Equipment Market was valued at USD XX million in 2020 and is projected to expand significantly with a CAGR of XX% from 2021F to 2027F. The Veterinary Dental Equipment Market is expected to witness a boost on account of increasing number of global companion animal population and growing rate of oral diseases such as periodontal and gingivitis in companion animals across the globe. Also, the rising awareness of pet owners about the importance of maintaining pets' oral hygiene will boost the growth of veterinary dental equipment market