Veterinary Infusion Pumps Market Report

Various factors such as an increase in the number of veterinary practitioners and their income levels, rising demand for pet insurance, increasing animal healthcare spending, technological improvements, and expanding demand for animal food products are driving the market. Furthermore, as the incidence of animal diseases has increased, so has the demand for treatments, positively boosting market growth. Another important element driving global veterinary infusion pump market expansion is an increase in the adoption of companion animals. Furthermore, new product launches and approvals, partnerships, agreements, and collaborations among market competitors are all contributing to the industry's growth Acceptance of cone beam imaging market systems in breast imaging, as well as untapped emerging economies, present considerable market potential prospects. As a result of people's concern about animal health, an increase in the pet population leads to an increase in demand for veterinary infusion pumps. As per the 2023-2024 APPA National Pet Owners Survey, 86.9 million households in the United States own a pet, accounting for 66% of households.

Furthermore, some governments are introducing plans and criteria for animal welfare. For instance, the United Kingdom Government announced the first-ever action plan to enhance animal welfare and conservation at home and abroad in May 2021. The action plans include initiatives for animal improvement and wellbeing for all animals, such as rewarding farmers to promote animal health and welfare through future agricultural laws, and so on. Such activities raise awareness about animal health and hence help the industry flourish.

The market is anticipated to expand as a result of increased adoption rates for animals, increase rapidly costs for animal health care, the prevalence of animal diseases and the associated surgical procedures, as well as technological developments. Specialized training is essential for effective operation, yet regions with limited resources may struggle to provide this necessary education. Regulatory compliance is another problem, with stringent standards and lengthy approval processes potentially impeding market expansion. Technological issues, such as accuracy and reliability, may affect adoption rates. Additionally, maintaining and supporting these devices in remote areas can be difficult, leading to potential downtimes. Integration with existing veterinary systems and variability in regional standards further complicate the market landscape, impacting overall consistency and quality.

Major industry leaders utilize strategies that focus on launching new products, merging with competitors, and purchasing companies to grow their customer base and enhance their range of products. In April 2024, Baxter International Inc. secured FDA 510(k) clearance for its Novum IQ large volume infusion pump (LVP) with Dose IQ Safety Software. This expansion integrates LVP with Baxter’s existing Novum IQ Infusion Platform, which also includes the syringe infusion pump (SYR) with Dose IQ Safety Software and IQ Enterprise Connectivity Suite. This advancement enhances Baxter’s commitment to innovation in infusion therapy by offering a unified, advanced system for diverse patient care settings. Heather Knight, EVP of Medical Products and Therapies, emphasized the platform's role in improving efficiency and safety in clinical environments.

In August 2023, ICU Medical, Inc., a top provider of advanced medical equipment, was granted FDA 510(k) clearance for its Plum Duo infusion pump featuring LifeShield infusion safety software. Set to launch in early 2024, the Plum Duo extends ICU Medical’s infusion technology, featuring a large colour touch screen and dual channels for up to four IV medications. LifeShield software, a collection based on cloud technology, improves management of drug libraries and promotes effective sharing of information. Dan Woolson, ICU Medical’s VP of Infusion Systems, highlights this advancement as a key step towards integrating their Medfusion and CADDTM products into the LifeShield platform.

The market is predicted to be dominated by North America, which also contributes significantly to global revenue. Rising pet adoption rates and an increase in animal diseases are driving regional expansion. The use of veterinary infusion pumps during the surgeries is a result of the high cost of a pet and the growing attention being given to their health. Infusion pumps are therefore shown to have strong development potential in the North American area as a result of all these aspects.

In addition, the Society for the Prevention of Cruelty to Animals, reported that Roughly 6.5 million animals enter shelters each year but only 3.2 million are adopted. The market for veterinary infusion pumps may experience major expansion due to the increasing adoption of pets and the consequent increase in attention given to pet health. Having such a large number of veterinary clinics would help the market for veterinary infusion pumps flourish in this region. The market is thus anticipated to forecast growth in this region during the forecast period as a result of the aforementioned factors.