GLOBAL VETERINARY FURNITURE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

Global veterinary furniture market size is expected to reach US$ 6.04 Bn by 2030, from US$ 3.98 Bn in 2023, exhibiting a compound annual growth rate (CAGR) of 6.1% during the forecast period.

Veterinary furniture refers to the specialized equipment and fixtures that are used inside veterinary clinics and hospitals. There are several types of veterinary furniture available to assist veterinarians with consultations, examinations, treatments, and other medical procedures. Examination tables are an essential fixture that is designed with durable, easy-to-clean surfaces and openings to allow for procedures on animals of various sizes. These tables are height adjustable for ergonomic use and are equipped with features like built-in scales, warming pads, and restraints. Other common pieces include stationary medical cabinets, mobile tray units, and overhead surgery lights to provide optimal organization and illumination for examinations and minor surgeries.

Global Veterinary Furniture Market- Regional Insights

• North America is expected to be the largest market for veterinary furniture during the forecast period, accounting for over 35.7% of the market share in 2023. North America has dominated the global veterinary furniture market. With a strong presence of leading veterinary equipment manufacturers and a robust veterinary healthcare industry, the region enjoys early mover advantage. It has emerged as the pioneer in advanced veterinary services and practices. Many large multinational pet care corporations operating global chains of veterinary hospitals and clinics are headquartered in the U.S., thus creating huge demand for high-quality furniture.

Moreover, growing pet ownership and increasing expenditure on pet care have boosted the market. North American pet owners prioritize animal welfare and are willing to spend on quality products and services. This has worked in favor of premium-priced and specialized veterinary furniture. Stringent regulations regarding animal treatment protocols and facility standards in the U.S. and Canada also contribute to the large market size.

• Asia Pacific is expected to be the second-largest market for veterinary furniture market, accounting for over 25.2% of the market share in 2023. Asia Pacific (APAC) has been outpacing other regions in terms of market growth lately. Rapid urbanization, rising disposable incomes, and changing attitudes toward pet care are fueling the APAC market. Countries like China, India, and others have witnessed tremendous growth in their veterinary industries. This has boosted demand for associated equipment and infrastructure.

Consolidating regulations for animal health facilities are also supporting infrastructure development and equipment investments. Further, APAC manufacturers are engaging in partnerships with global brands for manufacturing and export opportunities. Low labor costs provide them a competitive edge in pricing. Thus, APAC has emerged as an important production and export hub, thereby catering to growing international demand. Its stellar economic growth outlook suggests veterinary furniture sales, which will remain on an upward growth trajectory.

• Europe market is expected to be the fastest-growing market for veterinary furniture market, with a market share of 19% during the forecast period. The growth of the market in Europe is due to the increasing number of pet ownership in the region.

Analyst View: Global veterinary furniture market is expected to witness steady growth over the forecast period driven by rising pet adoption and increased expenditure  on pet healthcare globally. Developed markets such as North America and Western Europe will continue to dominate due to higher pet care expenditure and established veterinary infrastructure. However, Asia Pacific region is likely to emerge as the fastest growing region supported by growing pet population, increasing awareness about pet wellness and expansion of veterinary facilities in countries like India and China.

Figure 1. Global Veterinary Furniture Market Share (%), By Region, 2023

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Global Veterinary Furniture Market- Drivers

• Increasing pet ownership worldwide: A pet brings immense joy and companionship to families around the world. As people's lifestyles become busier and families smaller, pets are becoming like family members to their owners. This growing human-animal bond means that pet owners want to provide the best possible care and living conditions for their beloved animal companions. As pet ownership rises globally, particularly in developing nations, demand is increasing for specialized veterinary furniture and equipment that can assist veterinarians in examining, treating, and operating on pets. Pet owners expect veterinary practices to be well-equipped and offer a comfortable environment where pets feel safe and secure during visits. This translates into higher demand for examination tables of appropriate sizes, scales, and cradles for lifting pets, dental chairs, surgical lights and operating tables with standardized features which are required for sterilization. Manufacturers are innovating new designs that focus on animal welfare and ease-of-use for vets in order to appeal to this growing market. For instance, in January 2022, according to the data published by the National Agricultural Statistics Service (NASS), there were around 91.9 Mn cattle and calves in the U.S. farms on January 1, 2022
• Zoonotic diseases drive need for improved infection control: With increasing globalization and urbanization, zoonotic diseases that can spread between animals and humans, have become a serious public health concern. Regular monitoring and health checks on pets are crucial to curb outbreaks of infectious illnesses at local, national, and international levels. This has heightened the importance of infection control standards and sterilization protocols in veterinary facilities. Surfaces that cannot be easily disinfected pose infection risks. Therefore, veterinary furniture which are made from durable and non-porous materials like stainless steel, are preferred for tables, examination units, and surgical setups that may come in contact with body fluids, tissues, and waste during procedures. Instrument washing units, autoclaves, and dry heat sterilizers are also fundamental for veterinary practices to comply with stringent industry regulations. Manufacturers providing infection control solutions alongside a full suite of professional and certified veterinary equipment allow practices to deliver a higher level of treatment while protecting the health of animals as well as vets, staff, and pet owners visiting the facility. This drives sustained demands for their products and services. For instance, in June 2021, according to an article published by the Veterinary World, an open access, peered review journal, researchers from the Department of Agricultural Sciences, Faculty of Veterinary Medicine, Lasallian University Corporation (Unilasallista), Caldas, Antioquia, Colombia, conducted a study to improve the knowledge of high school students about zoonotic diseases from pets in Medellín-Colombia, by using an educational intervention that is based on a booklet and a game. They found that the students increased their knowledge and awareness about these diseases and their prevention.
• Growth in animal health expenditure: The growth in animal health expenditure is having a significant impact on the global veterinary furniture market. As pet owners and veterinary professionals invest more in animal health, the demand for high-quality veterinary furniture and equipment is increasing. This trend is being driven by a number of factors, including increased pet adoption, a growing focus on animal welfare and healthcare, and advancements in veterinary medicine.

Key Factors Driving the Growth:

• Increased Pet Ownership: Rising pet ownership rates boosts demand for veterinary services, thus subsequently increasing the need for veterinary furniture in clinics and hospitals
• Higher Standards of Care: There is a growing emphasis on providing high-standard care for animals, thus leading to investment in state-of-the-art veterinary furniture
• Expansion of Veterinary Clinics: New and existing veterinary clinics are expanding to accommodate the growing number of patients, thereby requiring more examination tables, surgery tables, kennels, and other furniture
• Preventive Healthcare and Wellness: A shift toward preventive care and regular wellness checkups for animals leads to more routine use of veterinary furniture.

Global Veterinary Furniture Market- Opportunities

• Growing veterinary industry: Global veterinary furniture market is experiencing notable growth alongside the evolving veterinary industry. As pet ownership increases and there is a greater emphasis on animal welfare and care, the demand for well-equipped veterinary facilities is on the rise. This expansion poses various opportunities and considerations for businesses operating within the market:

 Industry Growth Factors:

• Advancements in Veterinary Care: Innovations in veterinary medicine have resulted in a need for specialized and advanced furniture to accommodate new treatments and procedures
• Elevated Standard of Care: Pet owners have higher expectations for the quality of care, which includes modern and professional environments that are facilitated by updated veterinary furniture.
• Preventive Healthcare: A focus on preventive health care for pets requires regular visits to veterinary clinics, thereby supporting investment in more welcoming and functional furniture
• Specialty Services: As veterinary medicine becomes more specialized, there is a need for specific types of furniture to suit various medical specialties, such as oncology or orthopedics
• Regulatory Standards: Compliance with hygiene and safety regulations in veterinary practices contributes to the demand for high-quality veterinary furniture
• Potential in emerging economies: Emerging economies hold significant potential in the global veterinary furniture market, driven by various economic and social factors. Increased pet ownership, rising awareness of animal health, growing livestock populations, and expanding pet care infrastructure are some pivotal elements that contribute to this potential.

Economic and Social Factors:

• Rising Disposable Income: As the middle class grows in emerging economies, more households are able to afford pets and are willing to spend on their health and well-being
• Urbanization: Urban lifestyles contribute to a higher rate of pet ownership, which in turn boosts the demand for veterinary services and the equipment required for such services
• Livestock Value: In many emerging countries, the economy is significantly supported by livestock and necessitating investment in animal healthcare to maintain and improve productivity
• Educational Initiatives: There's an increasing emphasis on veterinary education and training, thereby leading to a more skilled workforce that demands professional and advanced veterinary furniture for practices.

Global Veterinary Furniture Market- Trends

• Rising popularity of multi-functional veterinary furniture: Rising popularity of multi-functional veterinary furniture within the global veterinary furniture market reflects the industry's shift towards versatility, efficiency, and space optimization in veterinary care facilities. Here's a breakdown of this trend's dynamics:

Factors Driving Popularity:

• Space Optimization: Multi-functional furniture is especially beneficial in small veterinary practices where space is limited. It can perform multiple roles, thus reducing the need for separate pieces of furniture.
• Cost-Effectiveness: Investing in one piece of furniture that serves various purposes can be more economical for veterinary clinics, particularly those with tighter budgets
• Improved Workflow: Furniture that are designed for multiple uses can streamline workflow, thereby making it easier for veterinary professionals to perform different tasks without having to move to different workspaces
• Technological Integration: Multi-functional furniture often incorporates technology such as adjustable height controls and built-in scales, thus enhancing its utility.
• Increase in online sales of veterinary furniture: Increase in online sales of veterinary furniture reflects the broader trend of digital transformation within the global veterinary furniture market. This shift toward e-commerce channels is due to various factors and has notable implications for strategic planning in the market landscape:

Factors Contributing to the Increase in Online Sales:

• Digital Convenience: The ease of browsing, comparing, and purchasing products online is a key factor driving veterinarians and clinic managers towards e-commerce platforms
• Wider Selection: Online channels often provide a broader range of products than be stocked in traditional brick-and-mortar distributors
• Competitive Pricing: E-commerce allows for quick price comparisons, often leading to more competitive rates and accessible deals
• Increased Reach: Online sales platforms enable manufacturers to reach a global customer base, thereby expanding their market beyond local geographical constraints

Global Veterinary Furniture Market - Restraint

• High costs associated with veterinary equipment: The high costs associated with veterinary equipment, including furniture, present both challenges and opportunities within the global veterinary furniture market. For instance, understanding these factors is crucial for developing strategies that can address market needs effectively. Here are the insights into the dynamics, driving these costs and the strategies to navigate them:

Factors Contributing to High Costs:

• Specialized Design: Veterinary furniture often requires specialized designs to support various treatments, which can drive up manufacturing costs
• Quality Materials: High standards for durability, hygiene, and patient comfort necessitate the use of quality materials that are often more expensive
• Technological Integration: Advanced equipment, such as items with built-in electronic components or adjustable features, adds to the production expenses
• Regulatory Compliance: Meeting safety and quality regulations for veterinary medical equipment can incur additional costs
• Innovative Features: Investment in research and development to incorporate innovative features can reflect in the end price of the product

Counterbalance: The key market players in the global veterinary equipment market need to consider the high costs associated with veterinary equipment to address the market needs efficiently.

Figure 2. Global Veterinary Furniture Market Share (%), By Product Type, 2023

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Global Veterinary Furniture Market- Recent Developments

Product Launch and Expansion

• In June 2022, Pet Smart, a privately held U.S based chain of pet superstores, announced leveraging its size and scale to help veterinarians realize their dreams of owning a business with the launch of PetSmart Veterinary Services (PVS). Through an independent business ownership model, PVS provides a complete solution for veterinarians to open their own franchised practice and connects pet parents with local, trusted veterinarians, and more convenient vet hospital locations within PetSmart stores.
• For instance, in August 2021, the Japanese brand Dinos, an online retailer launched a new table, that is designed for both humans and cats to sit, which is made of all-natural oak, with the table featuring a perch underneath and a hole in the center of the tabletop, providing  a seat for the cat. The set includes a dining table, an armless bench, a dining table shelf cushion, and more.
• In April 2021, DRE Veterinary, a veterinary equipment manufacturer, adopted the new name Avante Animal Health. The animal health division of Avante Health Solutions, joins a growing global brand and adds a host of exciting new products and services to their portfolio.

Business Development Activities by the Market Players

• In November 2022, Pepperfry, one-stop online furniture store, announced a strategic move to penetrate the veterinary furniture market with an aim to bridge the divide in all categories. The company's immediate goal was to establish a robust online marketplace for pet furnishings by consolidating offerings from specialized pet brands and producers.
• In September 2022, Pet Smart, a privately held U.S. based chain of pet superstores, unveiled its intentions to introduce a unique line of specialized pet-related items and home furnishings. This initiative is set to be collaboration with distinguished interior design experts, Mr. Nate Berkus and Mr. Jeremiah Brent.

Top Companies in Global Veterinary Furniture Market

• Everest-Tecnovet
• VETINOX
• DRE Veterinary
• PetLift
• Midmark Corporation
• TECHNIK Ltd
• OLYMPIC VETERINARY
• Covetrus
• Suburban Surgical Co., Inc.
• GPC Medical Limited
• David Bailey Furniture Systems Ltd
• North American Pet Products
• Go Pet Club
• PetPals Group, Inc
• MidWest Homes For Pets
• Ultra Modern Pet

Definition: Veterinary furniture refers to the equipment and furnishings that are used inside veterinary clinics, hospitals, and laboratories. There are various types of furniture required to effectively run veterinary practices and facilitate examination and treatments of animals. Examination tables are one of the most common and important pieces. These come in different sizes and styles to accommodate various animal types from small pets and mammals to large farm animals. Laying, sitting, and standing tables are available. Materials range from hardwood tops that are suitable for sanitization to cushioned ones for comfort and safety.