Artificial Intelligence
[Latest] Global Veterinary Consumables Market Size/Share Worth USD 2.84 Billion by 2028, Growing at a CAGR of 7.45%: Zion Market Research (Industrial Trends, Report, Analysis, Players, Outlook, Forecast, Growth, Value, Segmentation)
NEW YORK, United States, June 07, 2023 (GLOBE NEWSWIRE) — Zion Market Research has published a new research report titled “Global Veterinary Consumables Market” in its research database. According to the latest research study, the demand of global Veterinary Consumables Market size & share was worth at around USD 1.72 billion in 2021. The market is expected to grow at a CAGR of 7.45% and is anticipated to reach over USD 2.84 billion by 2028.
What are Veterinary Consumables? How big is the Veterinary Consumables Industry?
Market Overview:
Veterinary medicine is the science of preventing and treating disorders, illnesses, and other health factors related to animals. A veterinary physician or veterinarians also play a crucial role in advocating and promoting aspects of animal care while providing their expertise in proper animal care to their owners. Veterinary consumables are substances that are used during the process of providing medical aid to animals and are a critical part of the whole treatment plan. Just like in the case of human-health welfare, there are certain standards that veterinary consumables would meet before being used on actual animals.
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The products include substances like anesthesia machines, digital X-rays, IV pumps, portable ultrasound scanners, veterinary stethoscopes, and other disposable items like gloves, syringes, paper gowns, surgical packs, and others. Consumption of veterinary equipment and products has been increasing drastically owing to the rising trend of animal breeding for personal or commercial use.
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Key Insights from Primary Research
- As per the analysis, the veterinary consumables market is likely to grow above a CAGR of around 7.45% between 2022 and 2028.
- The Veterinary Consumables market size was worth around US$ 1.72 billion in 2021 and is estimated to hit approximately US$ 2.84 billion by 2028. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- Based on animal type segmentation, companion animals were predicted to show maximum market share.
- Based on product segmentation, anesthesia supplies were the leading revenue-generating products.
- On the basis of region, the “North America” Will Likely Overtake the Global Market.
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Market Dynamics:
The demand for veterinary consumables is higher in facilities that majorly cater to the needs of animals in a commercial set-up owing to the poor conditions they live associated with nutritional and physiological impact on the animals. This ultimately leads to a higher rate of infection in such animals which sometimes gets transferred to the human population.
As per the National Library of Medicine, around 75% of the recent human pathogens that are reported over the last 25 years have origins in animals. These numbers are an indication of why animal welfare is critical for human health as well. With this realization, there has been a significant shift in the trend towards taking animal health seriously which is also aided by the rise in the number of such healthcare providers.
The global veterinary consumables market cap is anticipated to grow significantly owing to the rising research activities toward understanding and treating animal diseases. Some of these diseases do not stay limited to just animals but may pass on to humans as well, with Covid-19 being the latest example. The research activities have gained higher momentum post-2020 because of the global economic and sociological impact the virus had on the world population. Research scholars have estimated that around 6 out of every 10 infectious diseases in humans have animal origins. These diseases have turned out to be fatal in many situations.
Due to a better understanding of zoonotic diseases, veterinarians are now able to treat the relatively new medical conditions in animals efficiently which is expected to drive the demand for veterinary consumables. The growth is expected to be aided by the emergence of a higher number of clinics and facilities providing excellent medical care.
The absence of sufficient skilled professionals may restrict the global market growth. The growing number of facilities providing medical care is expected to provide opportunities for global market expansion. Poor animal-healthcare infrastructure in emerging economies is anticipated to challenge market growth.
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COVID-19 Impact Analysis:
The global market cap witnessed a downfall due to the onset of Covid-19 which was majorly driven by the closure of veterinary treatment and research facilities. Due to extreme transport restrictions for at least 4-5 months at the beginning of 2020, physical appointments decreased to a drastic level. However, there were options like telephonic assistance in case of issues that could be dealt with over a phone call. The global market has picked up pace since then after the units became 100% functions.
Competitive Players
The report contains qualitative and quantitative research on the global veterinary consumables market, as well as detailed insights and development strategies employed by the leading competitors. Some of the main players in the global veterinary consumables market include;
- Midmark Corporation
- Avante Health Solutions
- Smiths Medical
- Suntech Medical Inc.
- Vetland Medical Sales and Services
- B.Braun Melsungen AG
- and Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
Segmentation Analysis:
The global veterinary consumables market is segmented based on type, animal type, product, and region.
By type, the global market is divided into reusable and disposable. Owing to the cost-effectiveness and efficiency of reusable products, the largest global market share is held by products with higher reusability with global market domination of over 80%.
Based on animal type, the global market segments are companion animals and livestock animals. The largest share in the global market was held by companion animals in 2021 resulting due to higher adoption trends of companion animals or pets. In the USA, in 2020, expenditure on companion animals grew by USD 6 billion over the previous year. The livestock animals’ segment is also anticipated to grow significantly due to the increased efforts of private and public institutes toward animal welfare.
Based on product, the global market segments are ventilator supplies, anesthesia supplies, imaging supplies, monitoring supplies, and others. Anesthesia supplies dominated the global market in 2021 owing to the wide application of these supplies ranging from medication, surgical procedures, or neutering. In 2019, the UK witnessed over 80% of domesticated dogs being neutered including both males and females.
Regional Overview:
North America is projected to generate the highest global veterinary consumables market revenue owing to the excellent animal healthcare infrastructure in the region. The veterinary facilities in regions like the USA and Canada are equipped with exceptional technologies aiding medical treatments for different diseases. The regional growth is projected to gain momentum owing to the presence of multiple producers of veterinary consumables with the demand for their products on a global level. The manufacturers are undertaking multiple strategic adoptions like mergers and acquisitions, and partnerships with hospital facilities to generate higher revenue.
Europe may grow significantly because of a higher companion-animals adoption rate resulting in a willingness to spend more on the welfare of their pets. Asia-Pacific is showing signs of a lucrative market for growth because of the increasing livestock population in countries like India and China for commercial and personal use.
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Recent Industry Developments:
- In April 2021, Vetspire was purchased by the Pathway Vet Alliance to bring evolutions in the field of veterinary care. Pathway Vet Alliance is a globally dominating veterinary management group providing its services to pets across 400 locations in the USA. Vetspire is an artificial intelligence-driven platform meant for recording medical data and related practices.
- In February 2021, American Veterinary Group (AVG) and Oak Hill Capital, a middle-market equity firm based in New York entered into a partnership, marking Oak Hill’s record of building an empire of veterinary services post other ventures including Butler Schein and VetCor.
Key questions answered in this report:
- What is the market size and growth rate forecast for Veterinary Consumables industry?
- What are the main driving factors propelling the Veterinary Consumables Market forward?
- What are the leading companies in the Veterinary Consumables Industry?
- What segments does the Veterinary Consumables Market cover?
- How can I receive a free copy of the Veterinary Consumables Market sample report and company profiles?
Report Scope:
| Report Attribute | Report Details |
| Market Size in 2021 | USD 1.72 Billion |
| Market Forecast in 2028 | USD 2.84 Billion |
| Growth Rate | CAGR of 7.45% |
| Base Year | 2021 |
| Forecast Years | 2022- 2028 |
| Key Companies Covered | Midmark Corporation, Avante Health Solutions, Smiths Medical, Suntech Medical Inc., Vetland Medical Sales and Services, B.Braun Melsungen AG, and Shenzhen Mindray Bio-Medical Electronics Co., Ltd. |
| Segments Covered | By Animal Type, Product, Type and Region |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
| Customization Scope | Avail customized purchase options to meet your exact research needs. |
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The global veterinary consumables market is segmented as follows:
By Animal Type
- Companion Animal
- Livestock Animal
By Product
- Ventilator Supplies
- Anesthesia Supplies
- Imaging Supplies
- Monitoring Supplies
- Others
By Type
- Reusable
- Disposable
By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- GCC
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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Key Offerings:
- Market Size, Trends, & Forecast by Revenue | 2022-2028
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis by Animal Type, Product, Type and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Artificial Intelligence
Metz, in Partnership with AI TECH, Introduces Advanced Interactive Flat Panel to Middle East Market
SHENZHEN, China, June 17, 2024 /PRNewswire/ — METZ Display, a sub-brand of SKYWORTH and a provider of innovative interactive displays for education and business. The announcement of Artificial Intelligence Technologies LLC Dubai as the authorized exclusive distributor for the UAE market as well as the Oman, Qatar, and Bahrain markets marks a significant expansion for METZ Display. By partnering with a trusted distributor like Artificial Intelligence Technologies, METZ is strategically positioning itself to deliver its full range of smart education and smart conference room applications across these regions. This move not only strengthens METZ’s presence in the Middle East but also underscores its commitment to providing innovative interactive displays tailored for both educational and business environments.
Based on the 16 years of R&D and business experience in the IFPD market from SKYWORTH, METZ Display fully inherited its technology and has introduced several interactive displays in the education and business sectors that provide a highly immersive environment and user-friendly experience since 2022, such as the all-in-one LCD.
Mr. Summer Deng METZ Sales & Marketing Head of MEA, said: ” The IFPD market in MEA is expected to see rapid growth over the next couple of years. The partnership with Artificial Intelligence Technologies LLC, a business entity to promote AI & AV Products, Tools, and services in the United Arab Emirates & Middle East Region will take METZ Display to another new level. We are confident to further develop our quality products and service!”
METZ Display is expanding its reach into the UAE market through Artificial Intelligence Technologies LLC Dubai as its authorized distributor.
The introduction of the METZ K Pro Series, particularly the EDLA Certified collaborative display, in the MEA Region highlights their commitment to providing innovative interactive display solutions for both education and business sectors. This move could potentially enhance learning and collaboration experiences in the region.
Mr. Harold Fernandes, the Managing Director of Artificial Intelligence Technologies, seems quite enthusiastic about the partnership with METZ Display. His emphasis on the versatility of METZ’s portfolio, applicable across various sectors such as education and business, reflects a keen understanding of the market’s needs. By highlighting the engaging experiences offered by METZ Display products, he’s underlining the potential benefits for resellers and end-users alike. This partnership seems poised to bring innovative solutions to the UAE market.
About METZ Display
With Skyworth, one of the world’s largest TV companies, and Metz, one of the oldest German manufacturers, METZ Display creates high-quality educational and business applications that make state-of-the-art screen technology available to everyone by combining their strengths and 80 years of experience.
About Artificial Intelligence Technologies LLC
Artificial Intelligence Technologies LLC, Is established as a business entity to promote AI & AV Products, and complete AV Solution, Tools & Services in the United Arab Emirates & Middle East Region. Visit the website at https://ai-tech.ai/
Phone: +971 4299 0544Email: [email protected]: www.ai-tech.ai
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Artificial Intelligence
Complyport’s new AI tool – ViCA.Chat – set to revolutionise compliance support services
LONDON, June 14, 2024 /PRNewswire/ — ViCA.Chat, the Virtual Compliance Assistant powered by AI technology, is set to transform regulatory compliance consulting. Developed by ComplyMAP Group’s AI engineers and Complyport’s compliance consulting teams, ViCA redefines compliance support services and propels governance, risk and compliance consulting into a new era of innovation.
Offering real-time assistance across a vast array of UK and EU regulatory frameworks, ViCA delivers unparalleled efficiency, detail and precision in disentangling and dealing with complicated regulatory frameworks.
The key differentiator of ViCA is its specialised and purposely constructed unique databases that leverage Complyport’s 22 years of regulatory expertise, combined with tailored AI training tools, enabling ViCA to operate as an experienced compliance consultant. A dedicated human support team continuously improves and updates ViCA’s knowledge and responses through a feedback loop process and quality assurance sessions. This powerful symbiosis of AI and human expertise sets ViCA apart and ensures businesses have the latest regulatory information instantaneously and seamlessly.
As a result, ViCA’s specialised regulatory database goes beyond readily available online resources which feature into traditional AI tools. ViCA offers exclusive insights, proprietary regulatory interpretations, historical data, bespoke and purposely structured compliance documentation and templates. With advanced scraping capabilities, ViCA also extracts relevant data from selected websites and publicly available information, ensuring an up-to-date and comprehensive understanding of compliance requirements across industries.
From agile fintech startups to established law firms, financial institutions, regulatory bodies, insurance providers, as well as compliance consultants, ViCA seamlessly adapts to unique compliance needs. Its user-friendly interface ensures navigating and analysing regulatory data is swift and intuitive, streamlining the compliance workflow.
“ViCA is a game-changer in how regulatory compliance advice will be provided in the future”, commented Luis Parra, Managing Director of ViCA. “With ViCA, compliance insights become available to all. No longer are regulated firms and responsible people overly dependent on advisors and compliance consultants. Through ViCA, the financial system will not only meet but exceed regulatory standards. Moreover, the level of information made available to the public will benefit society as a whole, in its interactions with the financial services sector.”
Among ViCA’s revolutionary features is its cost-effective model, allowing businesses to significantly reduce reliance on traditional spending with external consultants and advisors.
Visit ViCA.Chat to experience the future of compliance support.
Contact:
Name: Luis ParraTitle: Managing DirectorCompany: Vica.ChatTelephone: +44 20 7399 4980 Email: [email protected]
About ViCA.Chat:
ViCA.Chat is a revolutionary Virtual Compliance Assistant powered by cutting-edge AI technology, designed to demystify the complexities of regulatory compliance. Utilising Complyport’s 22 years of regulatory expertise, ViCA offers real-time assistance and guidance across a wide range of regulatory frameworks, setting a new standard for efficiency and precision in compliance support. From fintech start-ups to established law firms, financial services institutions, regulators, regulatory firms, compliance consultants and insurance firms, ViCA caters to the diverse needs of professionals across all levels in the broader UK financial services sector.
Visit ViCA.Chat to learn more.
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Artificial Intelligence
LoRa and LoRaWAN IoT Market worth $32.7 billion by 2029- Exclusive Report by MarketsandMarkets™
CHICAGO, June 14, 2024 /PRNewswire/ — The LoRa and LoRaWAN IoT Market is expected to reach USD 32.7 billion by 2029 from USD 8.0 billion in 2024, at a Compound Annual Growth Rate (CAGR) of 32.4 % during 2024–2029, according to a new report by MarketsandMarkets™.
Browse in-depth TOC on “LoRa and LoRaWAN IoT Market”
320 – Tables 58 – Figures294 – Pages
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Scope of the Report
Report Metrics
Details
Market size available for years
2018-2029
Base year considered
2023
Forecast period
2024–2029
Forecast units
Value (USD Billion)
Segments Covered
Offering, Network Deployment, Application, End User, and Region
Region covered
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
List of Companies in LoRa and LoRaWAN IoT
The Bosch Group (Germany), Cisco (US), Orange SA (France), Comcast Corporation (US), Semtech (US), NEC Corporation(Japan), Tata Communications (India), AWS (US), Advantech (Taiwan), SK Telecom (South Korea), Murata (Japan), Kerlink (France), Actility (France), Digi International (US), MultiTech (US), Ezurio (US), Sensoterra (Netherlands), Nwave Technologies (US), RAKwireless (China), TheThings.io (Spain), Datacake (Germany), Milesight (China), LORIOT (Switzerland), Exosite (US), Orbiwise (Switzerland), Netmore Group (Sweden), and Radio Bridge Inc (US).
The LoRaWAN ecosystem influences development of tools, software libraries, and cloud-based platforms that streamline the creation, deployment, and management of IoT solutions. Continuously evolving, this ecosystem boasts a burgeoning array of vendors providing LoRa-compliant devices, gateways, and network management solutions. This vibrant competition within the ecosystem propels innovation while driving down costs for end-users. Moreover, the development of interoperable solutions fosters seamless integration and deployment of LoRaWAN networks, simplifying the implementation process for businesses and organizations. As the ecosystem continues to expand and mature, it empowers developers, system integrators, and IoT enthusiasts to unleash their creativity, accelerate time-to-market, and unlock the full potential of LoRaWAN technology in diverse applications and industries.
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Based on network deployment, the public network segment to hold the largest market size during the forecast period.
The robust security features integrated into public LoRaWAN networks play a significant role in driving the growth and adoption of LoRaWAN technology in the market. End-to-end encryption ensures that data transmitted between devices and gateways is protected from unauthorized access or interception, safeguarding sensitive information such as sensor readings, location data, and command messages. Message integrity checks verify the integrity of data packets, detecting any tampering or alteration during transmission and ensuring data authenticity and reliability. Additionally, mutual authentication mechanisms establish trust between devices and gateways, verifying the identity of both parties before allowing communication to occur. These security measures provide organizations and end-users with confidence in the integrity and confidentiality of their data, mitigating concerns related to data privacy, cybersecurity threats, and regulatory compliance. As a result, implementing robust security features in public LoRaWAN networks enhances trust and credibility in the technology, driving increased adoption and market growth as organizations seek reliable and secure connectivity solutions for their IoT deployments.
By offering, the services segment is expected to hold a higher growth rate during the forecast period.
IoT service providers are pivotal in driving adoption by developing vertical-specific solutions finely tuned to the distinct needs of industries like agriculture, healthcare, logistics, and smart cities. In agriculture, for instance, IoT services offer solutions for precision farming, crop monitoring, and livestock management, enabling farmers to optimize irrigation, monitor soil health, and enhance yields. Similarly, IoT services facilitate remote patient monitoring, asset tracking, and inventory management in healthcare, improving patient care, reducing costs, and ensuring compliance with regulatory standards such as HIPAA. In logistics, IoT services provide real-time tracking of shipments, fleet management, and predictive maintenance, enhancing supply chain visibility, efficiency, and reliability. For smart cities, IoT services offer solutions for traffic management, waste management, energy optimization, and public safety, transforming urban infrastructure and enhancing the quality of life for residents. By addressing industry-specific challenges, compliance requirements, and use cases, vertical-specific IoT solutions deliver tangible business value, driving adoption and fueling the growth of the IoT services market across diverse sectors.
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Asia Pacific is expected to hold a higher growth rate during the forecast period.
In the Asia Pacific region, where agriculture serves as a cornerstone of many economies, adopting IoT technologies, particularly LoRa and LoRaWAN, is revolutionizing traditional farming practices. LoRaWAN’s long-range connectivity and low-power consumption make it well-suited for deployment in rural agricultural settings, where access to reliable connectivity may be limited. Through LoRa-based IoT solutions, farmers can implement precision agriculture techniques to address pressing challenges such as water scarcity, soil degradation, and unpredictable weather patterns. LoRa-enabled sensors facilitate real-time monitoring of soil moisture levels, temperature, and humidity, allowing farmers to optimize irrigation schedules and conserve water resources. Remote sensing technologies powered by LoRaWAN enable farmers to gather actionable insights on crop health, pest infestations, and nutrient deficiencies, facilitating timely interventions and improving overall crop management practices. Furthermore, LoRa-based crop analytics platforms provide farmers with data-driven decision support tools, helping them optimize planting strategies, improve yield forecasting, and mitigate the impact of climate change on agricultural productivity. By harnessing the power of LoRa and LoRaWAN IoT solutions, farmers in the Asia Pacific region can increase yields, conserve resources, and enhance resilience to environmental challenges, driving the adoption and growth of the LoRaWAN IoT market in the agricultural sector.
Top Key Companies in LoRa and LoRaWAN IoT Market:
The major vendors covered in the LoRa and LoRaWAN IoT Market are The Bosch Group (Germany), Cisco (US), Orange SA (France), Comcast Corporation (US), Semtech (US), NEC Corporation(Japan), Tata Communications (India), AWS (US), Advantech (Taiwan), SK Telecom (South Korea), Murata (Japan), Kerlink (France), Actility (France), Digi International (US), MultiTech (US), Ezurio (US), Sensoterra (Netherlands), Nwave Technologies (US), RAKwireless (China), TheThings.io (Spain), Datacake (Germany), Milesight (China), LORIOT (Switzerland), Exosite (US), Orbiwise (Switzerland), Netmore Group (Sweden), and Radio Bridge Inc (US). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches, enhancements, and acquisitions to expand their footprint in the LoRa and LoRaWAN IoT Market.
Browse Adjacent Markets: Digitalization and Internet of Things (IoT) Market Research Reports & Consulting
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About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
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