Veterinary Oxygen Therapy Market Size, Share & Trends Analysis Report By Product (Portable Oxygen Concentrator, Stationary Oxygen Concentrator), By Animal Type, By Application, By End-use, By Region, And Segment Forecasts, 2024 - 2030

Veterinary Oxygen Therapy Market Trends

The global veterinary oxygen therapy market size was estimated at USD 1.13 billion in 2023 and is projected to grow at a CAGR of 7.5 % from 2024 to 2030. The market is primarily driven by the rising prevalence of respiratory diseases in animals, a growing number of pet owners, increasing adoption of pet insurance, and rapid technological advancements in veterinary oxygen therapy. The increasing prevalence of atypical canine infectious respiratory disease is fueling demand and leading to market growth.

For instance, according to the American Veterinary Medical Association, since mid-August 2023, Oregon, U.S., has reported over 200 cases of a mysterious canine disease. The Oregon Department of Agriculture described it as an "atypical canine infectious respiratory disease," This disease is characterized by coughing, sneezing, lethargy, and respiratory distress, requiring oxygen support for affected dogs during treatment. As cases rise, veterinarians require consistent oxygen concentrators to provide essential respiratory care, driving the market growth for these critical medical devices.

The rising adoption of pet insurance is expected to drive market growth. Pet insurance offers financial protection for pet owners, encouraging them to seek necessary veterinary treatments, including surgeries, without worrying about high costs. This increased demand for veterinary services translates into a higher need for oxygen concentrators, essential for surgical procedures and critical care. Furthermore, the growing trend of pet humanization and the rising adoption of pet insurance in various countries have increased pet insurance enrollment rates globally. For instance, in a 2023 report by the North American Pet Health Insurance Association (NAPHIA), there are over 5.36 million insured pets in North America, and this number is expected to grow exponentially at a CAGR of 2.17%. Out of these insured pets, dogs account for the largest share of 80.1%, followed by cats with 19.9%. The overall number of pets insured in the U.S. increased from 3.1 million in 2020 to 4.8 million in 2022.

The COVID-19 pandemic significantly disrupted the market, impacting regular operations due to movement restrictions, fewer veterinary visits, and the delay or cancellation of elective procedures. For example, the Harmony Veterinary Center in Colorado, U.S., temporarily halted all elective veterinary procedures in March 2020. Furthermore, a study by University of Florida Health researchers, released in September 2022, examined pandemic's impact on longstanding efforts to manage pet overpopulation through high-volume spay-neuter surgeries. The pandemic-induced declines in these surgeries, due to lockdowns, staffing shortages in clinics and shelters, and slower pet adoption rates, have challenged years of progress in controlling pet overpopulation. As a result, delays in surgeries negatively impacted the market, leading to reduced demand for veterinary oxygen supply during surgery.

Market Concentration & Characteristics

The market exhibits a high market concentration. The market growth stage is high, with an accelerating pace. One major factor driving the market growth is the rapid technological advancements in veterinary surgical equipment. Continuous advancements in veterinary oxygen therapies, such as development of portable and cost-effective oxygen concentrators, are propelling market growth.

Market concentration is influenced by pace of technological advancements. Companies that invest in research and development to introduce innovative products with enhanced features, accuracy, and ease of use can gain a competitive advantage and increase their market share. Conversely, companies that fail to keep up with technological advancements risk losing market share to competitors.

The market is witnessing a high degree of innovation driven by advancements in technology and a growing focus on improving pet healthcare. Manufacturers are developing features such as improved oxygen purity, quieter operation, compact designs, and connectivity options for remote monitoring. While exact figures on the degree of innovation may vary, ongoing advancements are likely driven by the demand for more effective and user-friendly veterinary medical equipment.

Within the market, there exists a low to moderate level of mergers and acquisitions activity, indicative of ongoing consolidation and strategic partnerships among industry players.

Regulations significantly impact the market. Compliance with regulatory standards ensures the safety, quality, and effectiveness of these medical devices. Adhering to regulations also fosters trust among veterinarians and pet owners, driving market growth. In addition, regulatory requirements shape product development and marketing strategies, influencing market dynamics and competition.

The risk of product substitutes for the market remains low due to the unique functionality and effectiveness of these devices in providing oxygen therapy for animals. With no direct alternatives offering the same level of oxygen concentration and delivery precision, veterinary oxygen concentrators continue to maintain a strong market position without significant threat from substitutes.

Key players in the market are expanding regionally; for instance, in January 2024, The Schwarzman Animal Medical Center (AMC) launched the Denise and Michael Kellen Institute for Veterinary Surgical Care, part of a $125 million expansion to triple the hospital's capacity. This state-of-the-art surgical institute features five operating rooms and operates 365 days a year. The facility supports over 130 veterinarians across 20 specialties, and expansion is set to continue with a new emergency room and ICU in 2024, with full completion expected by 2025.

Product Type Insights

Based on product type, the market is segmented into veterinary oxygen concentrators and accessories. The veterinary oxygen concentrator segment dominated the market in 2023 with a market share of 82.20%. Furthermore, it is subdivided into portable and stationary oxygen concentrators. The stationary oxygen concentrator segment held the largest revenue share of 61.58% in 2023, as they are preferred for their larger capacity, allowing them to support multiple patients simultaneously and operate without frequent refills. This is particularly useful in veterinary settings with high patient turnover and a need for consistent oxygen delivery. The stability and efficiency of stationary oxygen concentrators make them a popular choice for larger veterinary practices and hospitals, driving their increased demand.

However, the portable oxygen concentrator segment is expected to witness the fastest CAGR of 8.1% over the forecast period, owing to a growing trend towards portable and compact veterinary oxygen concentrators that are easier to use and transport within veterinary facilities.

Animal Type Insights

Based on animal type, the small animals segment held the largest market share of 42.48% in 2023, and the segment is estimated to grow at the fastest CAGR over the forecast period. The growing adoption of pets, including dogs, cats, birds, and small mammals, is driving the demand for veterinary services and associated equipment, including veterinary oxygen concentrators, especially in urban areas. Furthermore, growing pets have longer life expectancy due to improved care and diet, there's a rising incidence of age-related respiratory diseases that need oxygen therapy. In addition, respiratory diseases, such as pneumonia, bronchitis, and asthma, are common among small animals. Thus, there's a growing need for oxygen concentrators in veterinary clinics and hospitals.

Application Insights

Based on application, the ICU segment held the largest share, 67.24%, in 2023. The demand for veterinary oxygen concentrators is higher in intensive care units (ICUs) due to their critical role in providing oxygen support during complex procedures and emergencies. Oxygen concentrators are essential in ICUs to manage respiratory distress and other life-threatening conditions, ensuring a continuous supply of oxygen for critical care patients.

The homecare setting/postoperative care segment is expected to grow at the fastest CAGR of 8.2% over the forecast period, owing to a growing demand for portable veterinary oxygen concentrators for post-operative care of pets. After surgery, pets sometimes require oxygen support during their recovery period. By using oxygen concentrators in a homecare setting, pets can recover in a more comfortable environment, reducing stress and facilitating better healing.

End-use Insights

Based on end-use, the veterinary hospitals segment held the largest market share of 45.96% in 2023.The veterinary hospital handles a higher patient volume compared to smaller clinics or mobile practices, requiring more frequent use of oxygen concentrators. These facilities offer a broad range of services, including surgery, critical care, and emergency treatments, all of which often require oxygen support. Due to their comprehensive service offerings and large patient load, veterinary hospitals are the primary consumers of oxygen concentrators, driving their market dominance.

The veterinary clinics segment is anticipated to grow at the fastest CAGR of 7.8% over the forecast period owing to increase in number of pets and a growing awareness of pet health leading to more veterinary visits in clinics. Furthermore, veterinary clinics are expanding services to include specialized care and critical treatment, where oxygen support is often essential. This trend contributes to the growing demand for oxygen concentrators.

Regional Insights

North America veterinary oxygen therapy market held the largest global revenue share in 2023. North America, particularly the U.S. and Canada, has one of the highest rates of pet ownership globally. This large pet population drives the demand for veterinary healthcare services, including surgeries. In addition, an increase in pet insurance adoption is driving the growth of the market. Pet insurance provides financial security, encouraging pet owners to pursue necessary veterinary treatments without financial constraints. This leads to a higher demand for advanced veterinary care, including oxygen therapy, which is essential for various surgical and emergency procedures. For instance, NAPHIA's 2022 State of the Industry Report found that more than 4.41 million pets were insured in North America in 2021, up from 3.45 million in 2020, representing a 27.7% increase in insured dogs. The number of insured pets in the U.S. grew by 17.1% in 2023, and in Canada, the pet insurance market saw a 13.6% growth in total insured pets in 2023.

U.S. Veterinary Oxygen Therapy Market Trends

The veterinary oxygen therapy market in the U.S. is anticipated to grow at a significant pace over the forecast period, owing to an increase in the incidence of respiratory diseases among dogs and an increase in pet spending in the country. In addition, growing partnerships between government organizations and veterinary colleges and the launch of mobile surgical units are expected to contribute to market growth. Furthermore, frequency of surgeries increases with expansion of mobile veterinary services, and demand for veterinary oxygen concentrators is also expected to increase during forecast period. For instance, in December 2023, the MSU College of Veterinary Medicine, in partnership with the Michigan Department of Agriculture and Rural Development, launched a mobile veterinary surgical unit to address the state's veterinarian shortage. This initiative aimed at providing surgical services to animal welfare organizations & shelters in the U.S., helping reduce the burden on these facilities and providing practical experience for veterinary students.

Europe Veterinary Oxygen Therapy Market Trends

The veterinary oxygen therapy market in Europe is influenced by several trends, driven by advancements in veterinary care, technology, and the evolving needs of veterinary clinics and hospitals. The increasing number of veterinary specialty clinics, such as those focusing on oncology, cardiology, and orthopedics, is leading to a higher demand for advanced medical equipment, including oxygen concentrators. In addition, the growing pet population and awareness of pet health in Europe necessitate demand for advanced medical equipment in veterinary practices, and oxygen concentrators are increasingly seen as essential tools for treating respiratory conditions and providing oxygen therapy. Thus, the growing pet population is expected to fuel the market growth in Europe.

The Germany veterinary oxygen therapy market leads in Europe, with largest population of both cats and dogs. According to FEDIAF estimates, in 2023, Germany had approximately 15.2 million cats and 10.6 million dogs. The growing pet ownership is, thus, a key factor driving the market in the country. From 2010 to 2022, the population of pet dogs in Germany has doubled to around 10.6 million, while cats continue to be the most popular pets, with approximately 15.2 million population in 2023. The percentage of German households with pets has remained relatively stable, with around 45% of households owning pets.The growing pet population and a corresponding need for high-quality veterinary care and equipment are driving the German market.

The veterinary oxygen therapy market in the UK has seen a trend toward the consolidation of veterinary practices, with larger veterinary groups acquiring smaller surgery centers. This consolidation leads to an increased demand for standardized equipment, including oxygen concentrators, across all acquired practices to ensure consistent quality of care. Furthermore, when veterinary surgery centers merge into larger networks, they often expand the scope of their services. This expansion includes complex surgical procedures and advanced critical care, necessitating reliable oxygen concentrators to support a broader range of treatments. For instance, in February 2024, CVS Group acquired Ark Animal Services Limited, known as Ark Veterinary Surgery or Ark Vets, a first-opinion small animal veterinary practice located in the UK. The growing scope of CVS's operations in the UK indicates significant demand for veterinary services and related equipment, including oxygen concentrators.

Asia Pacific Veterinary Oxygen Therapy Market Trends

The veterinary oxygen therapy market in Asia Pacific is expected to exhibit lucrative growth over the forecast period. The growing emphasis on high-quality veterinary care and the expansion of AAHA accreditation in the Asia-Pacific region are driving the demand for veterinary oxygen therapy. As more veterinary practices pursue higher standards and accreditation, the need for advanced equipment will continue to rise, supporting the overall growth of the veterinary industry in the region. For example, the accreditation of Daktari Animal Hospital Tokyo Medical Center by the American Animal Hospital Association (AAHA). This accreditation, the first outside of the U.S. and Canada, reflects a growing commitment to rigorous standards of veterinary care in the region. As more veterinary practices in the Asia-Pacific region pursue AAHA accreditation, the demand for such equipment is expected to continue rising, thus fueling the growth of the veterinary industry in the region.

The Japan veterinary oxygen therapy market is witnessing growing number of animal clinics and an increase in life span of pets is expected to boost demand for veterinary oxygen therapy. For instance, according to the Agriculture, Forestry, and Fisheries Ministry data published in April 2022, Japan had 12,435 animal facilities in 2021, an 18% increase from a decade ago. This trend is driven by longer pet lifespans, leading to more cases of age-related diseases such as cancer and kidney failure. In addition, the COVID-19 pandemic has boosted pet ownership, with 880,000 new dogs and cats in 2020 and 890,000 in 2021, further driving the demand for veterinary care.

The expansion of animal clinics and the introduction of round-the-clock care at Tokyo University of Agriculture and Technology's new hospital indicate the growing market for veterinary services. This trend correlates with the expected growth in demand for veterinary oxygen concentrators to support these facilities, ensuring high-quality care for aging pets and emergencies.

Latin America Veterinary Oxygen Therapy Market Trends

The veterinary oxygen therapy market in Latin America is driven by several factors, including the region's expanding pet ownership rates, growing awareness of advanced veterinary care, and an increasing number of veterinary clinics and hospitals. In addition, the rise in pet humanization trends, coupled with the focus on enhancing animal health outcomes, further boosts the demand for oxygen concentrators in veterinary settings across Latin America.

The Brazil veterinary oxygen therapy market is experiencing significant growth due to expansion of veterinary service network in Brazil. For instance, in September 2022, VetFamily launched in Brazil with 25 clinics onboard, tapping into the vibrant pet market of over 149.6 million pets. Their unique business model provides solutions and tools to veterinarians, fostering their entrepreneurial journey. The expansion of veterinary clinic networks in Brazil is propelling demand for oxygen concentrators. As more clinics join networks like VetFamily, the need for advanced medical equipment, including oxygen concentrators, increases. These devices are essential for supporting animal respiratory care, surgery, and recovery.

Middle East & Africa Veterinary Oxygen Therapy Market Trends

The veterinary oxygen therapy market in the Middle East and Africa region is witnessing significant growth due to advancements in veterinary surgeries, such as those conducted at Modern Vet in Dubai. These groundbreaking procedures, including successful treatment of congenital heart defects and complex surgeries on small animals, are boosting demand for advanced veterinary equipment. Support from initiatives by the UAE's Ministry of Climate Change and Environment (MOCCAE) further contributes to the expansion of veterinary care, emphasizing the need for high-quality oxygen concentrators in this growing market.

The South Africa veterinary oxygen therapy market is primarily driven by the growing number of veterinary clinics and hospitals. The increasing awareness about animal healthcare and the growing pet population fuel the region's demand for advanced veterinary care. In addition, growing technological advancements in veterinary medical devices and a focus on providing high-quality care contribute to the adoption of oxygen concentrators in veterinary practices across the country.

Key Veterinary Oxygen Therapy Company Insights

The market is highly competitive, with many large-and small-scale players. Most companies focus on mergers, acquisitions, collaborations, and partnerships to achieve greater market share. The veterinary oxygen therapy market consists of companies providing oxygen concentrators designed for veterinary applications and used in animal hospitals, clinics, and practices to support animal respiratory care. Key market players focus on innovation, reliability, and safety in delivering oxygen therapy to animals.

Recent Developments

• In April 2024, The UC Davis Veterinary Medical Teaching Hospital launched the Center for Advanced Veterinary Surgery to meet the rising demand for orthopedic surgeries in pets due to increased pet ownership. This expansion reflects a broader trend in veterinary medicine, as more facilities aim to provide sophisticated surgical care for animals. This growing demand is expected to drive market growth. Veterinary oxygen concentrators are a critical component in veterinary surgery for ensuring oxygen supply during procedures.

• In February 2024, Tata Trusts opened India's first Small Animal Hospital in Mahalaxmi, Mumbai. It will provide round-the-clock services through pet-sensitized veterinarians, nurses, and technicians, focusing on emergency and critical care, surgery, and oxygen therapy. The hospital will feature advanced radiology, imaging, and laboratory equipment catering to a wide range of veterinary needs.

• In December 2023, Chewy launched "Chewy Vet Care," its new veterinary practice brand offering routine appointments, urgent care, surgery, and other services. The first location opened in South Florida in early 2024.

• In July 2021, Aeronics, Inc., makers of the Pawprint Oxygen Canister System for pets, partnered with MWI Animal Health to offer veterinarians this innovative oxygen delivery solution. This collaboration aims to address respiratory distress in veterinary medicine by offering a lightweight, portable alternative to traditional oxygen tanks.

Veterinary Oxygen Therapy Market Report Scope

Global Veterinary Oxygen Therapy Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global veterinary oxygen therapy market report based on product, animal type, application, end-use, and region:

• Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Veterinary Oxygen Concentrator

    • Portable Oxygen Concentrator

    • Stationary Oxygen Concentrator

  • Accessories

• Animal Type Outlook (Revenue, USD Million, 2018 - 2030)

  • Small Animals

  • Large Animals

  • Others

• Application Outlook (Revenue, USD Million, 2018 - 2030)

  • ICU

  • Homecare setting/postoperative care

  • Others

• End-use Outlook (Revenue, USD Million, 2018 - 2030)

  • Veterinary Hospitals

  • Veterinary Clinics

  • Others Other End-use

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • Sweden

    • Denmark

    • Norway

    • Rest of Europe

  • Asia Pacific

    • Japan

    • China

    • India

    • South Korea

    • Australia

    • Thailand

    • Rest of Asia Pacific

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

  • Middle East & Africa 

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait

    • Rest of Middle East & Africa