Factors such as the growing demand for pet insurance and increasing animal healthcare expenditure, rising demand for animal-derived food products, and growth in the number of veterinary practitioners and their income levels are the primary growth drivers for this market. Growing adoption of companion animals and increasing prevalence of animal diseases requiring surgeries are expected to offer significant growth opportunities to market players in the coming years. However, increasing pet care costs may hinder the growth of this market to a certain extent.
Market Size
The global US Veterinary Infusion Pumps Market is estimated to grow at a CAGR of 5.8% from 2016 to 2021, to reach USD 35.4 Million by 2021.
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“Large-volume infusion pumps account for the largest share of the U.S. veterinary infusion pumps market”
Large-volume infusion pumps account for the largest share of the U.S. veterinary infusion pumps market and are expected to witness the highest growth over the next five years. The high growth in this segment can be attributed to the growing use of these pumps to deliver large volumes of fluids in animals during emergency conditions, provide blood transfusions, and administer total parenteral nutrition at continuous predetermined medium-to-high flow rates.
“Private hospitals accounted for the largest share”
In the end-user market, private hospitals accounted for the largest share, majorly due to the increasing use of large-volume infusion pumps and syringe infusion pumps to administer fluids for various clinical conditions in animals, and growth in animal health expenditure.
Recent Developments
- In August 2015, the company launched the DRE Avanti Plus infusion pump, a volumetric infusion pump that uses a microcontroller for accurate control of infusion rate and volume.
- In August 2014, the company established DRE Scientific in the U.S.; the new division is dedicated to selling research-specific equipment packages to universities, laboratories, and other facilities.
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