Market Challenges And Opportunities

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 - 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.