U.S. Veterinary Surgical Instruments Market Size By Product (Sutures & Staplers, Forceps, Scalpels, Surgical Scissors, Hooks & Retractors, Trocars & Cannulas, Electro-surgery Instruments), By Animal Type (Small & Medium Animals, Large Animals), By Application (Dental Surgery, Orthopedic Surgery, Neurosurgery, Ophthalmic Surgery), By End-use (Veterinary Clinics, Veterinary Hospitals, Research Centers & Academia), Industry Analysis Report, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025

Published Date: Sep 2019  |  Report ID: GMI4364  |  Authors: Sumant Ugalmugle, Rupali Swain

Report Format: PDF   |   Pages: 75   |   Base Year: 2018




Summary Table of Contents Industry Coverage Methodology

Industry Trends

U.S. Veterinary Surgical Instruments Market size was valued over USD 492.0 million in 2018 and is expected to witness more than 4.4% CAGR from 2019 to 2025.
 

U.S. Veterinary Surgical Instruments Market, By Product, 2018 & 2025 (USD Million)

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Rising focus on pet health and increased ability of owners to afford better healthcare options for their pets will positively impact market growth in the upcoming years. Moreover, increasing cases of trauma surgeries and soft tissue injuries will boost product demand in the country. Also, growing adoption of pets coupled with increasing number of companies operating in the U.S. market will further foster industry growth.
 

Growing number of veterinary hospitals and clinics has increased the demand of veterinary practitioners thus, propelling the industry growth. Moreover, increasing livestock population, advanced surgical instruments and rising demand for skilled workforce are expected to drive this market across the forecast timeframe. Additionally, growing prevalence of zoonotic diseases in animals will further augment business growth.
 

However, high cost of veterinary surgeries might restrict market growth. Also, stringent regulatory policies governing surgical and medical instruments will further hamper industry growth across the projection period.
 

Electro-surgery instruments are projected to witness a robust growth of 4.8% across the forecast period. Electro-surgical instruments are commonly used during surgical procedures with the aim to prevent blood loss. High growth is attributable to increasing number of companies manufacturing such surgical instruments. Monopolar electro-surgery can be used for numerous modalities such as blend, cut, desiccation, and fulguration. Hence, rising applications of electro-surgery instruments is another chief growth fostering factor.
 

Surgical forceps segment accounted for USD 50.3 million in 2018. Forceps has wide array of applications in surgical procedures. Homeostatic forceps are temporarily used to clamp and occlude bleeding vessels and thumb forceps are used for manipulation and grasping of tissues during surgeries. Efficiency and applications of surgical forceps in various surgeries have increased its adoption rate among the surgeons, thus propelling market growth.
 

U.S. Veterinary Surgical Instruments Market Report Coverage
Report Coverage Details
Base Year: 2018 Market Size in 2018: 492 Million (USD)
Historical Data for: 2014 to 2018 Forecast Period: 2019 to 2025
Forecast Period 2019 to 2025 CAGR: 4.4% 2025 Value Projection: 660 Million (USD)
Pages: 75 Tables, Charts & Figures: 53
Geographies covered (1): U.S
Segments covered: Product, Animal Type, Application, End-use and Region
Companies covered (10): B. Braun Vet Care, BMT Medizintechnik GmbH, Ethicon Inc, GerMedUSA, Jørgen KRUUSE A/S (Henry Schein), Jorgensen Laboratories, Medtronic, Neogen Corporation, Sklar Surgical Instruments, Steris
Growth Drivers:
  • Increasing animal healthcare expenditure
  • Rising awareness pertaining to various animal health conditions
  • Escalating demand for pet health insurance
  • Growth in number of veterinary practitioners
Pitfalls & Challenges:
  • High cost of veterinary surgeries

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U.S. Veterinary Surgical Instruments Market, By Product

U.S. Veterinary Surgical Instruments Market Share, By Product, 2018
U.S. Veterinary Surgical Instruments Market Share, By Product, 2018

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Electro-surgery instruments are projected to witness a robust growth of 4.8% across the forecast period. Electro-surgical instruments are commonly used during surgical procedures with the aim to prevent blood loss. High growth is attributable to increasing number of companies manufacturing such surgical instruments. Monopolar electro-surgery can be used for numerous modalities such as blend, cut, desiccation, and fulguration. Hence, rising applications of electro-surgery instruments is another chief growth fostering factor.
 

Surgical forceps segment accounted for USD 50.3 million in 2018. Forceps has wide array of applications in surgical procedures. Homeostatic forceps are temporarily used to clamp and occlude bleeding vessels and thumb forceps are used for the manipulation and grasping of tissues during surgeries. Owing to its efficiency and applications as per requirements of the surgery have increased its adoption rate among the surgeons, thus propelling market growth.
 

Analysis By Animal Type

Large animals segment accounted for revenue share of 35.4% in 2018 and is estimated to witness lucrative growth across the forecast timeframe. High growth is attributed to increasing prevalence of zoonotic diseases in farm animals. Moreover, growing awareness among the population about various veterinary surgical procedures will further augment U.S. veterinary surgical instruments market growth.
 

Small & medium animals are estimated to witness favourable growth of 4.3% across the analysis period owing to increasing rate of pet adoption in the U.S. Additionally, rising disposable income will further escalate revenue growth. Also, increasing number of companies manufacturing veterinary surgical instruments coupled with rising concern among the population pertaining to various zoonotic diseases is another chief factor boosting market growth.
 

Analysis By Application

Application of surgical instruments in dental surgeries will show tremendous growth and is estimated to reach USD 197.9 million by 2025. Segment growth is attributed to increasing prevalence of periodontal diseases in animals such as periodontitis and gingivitis. As per, the American Veterinary Dental Societies, in 2017, more than 80% of dogs and 70% of cats developed gum diseases at the age of three. Hence, increasing prevalence of dental infections will positively impact business growth.
 

Neurosurgery segment is expected to witness growth of 4.6% across the projection period. Veterinary surgical instruments in neurosurgery will hold significant revenue owing to rising government awareness programs to educate people about various acute veterinary diseases. Moreover, increasing prevalence of neurological disorders among the animals is another major growth rendering factor.
 

By End-use

U.S. Veterinary Surgical Instruments Market Share, By end-use, 2025 (USD Million)
U.S. Veterinary Surgical Instruments Market Share, By end-use, 2025 (USD Million)

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Veterinary hospitals segment accounted for revenue share of 41.2% in 2018. High growth is attributed to increasing number of veterinary surgeries across the U.S. Also, veterinary hospitals offer cost effective services, thus propelling industry growth. Moreover, rising number of veterinary surgeons and veterinary hospitals in the U.S. is another significant factor contributing to market growth. Also, increasing number of veterinary hospitals offering pet insurance services will further propel u.s. veterinary surgical instruments market growth across the forecast timeframe.
 

Research centers & academia segment accounted for USD 16.6 million in 2018. Increasing funding by the U.S. government on veterinary medicine will increase the research activities by the scientists, thereby accelerating the demand for veterinary surgical equipment market growth over the forthcoming years. Also, rising number of research institutes to conduct pre-clinical trials in the U.S. will further boost segmental growth.
 

Competitive Market Share

The U.S. veterinary surgical instruments market share is highly fragmented in nature with presence of large number of small and local manufacturers and few multinational companies. Some of the key industry players include Jørgen KRUUSE A/S, Jorgensen Laboratories, B. Braun Vet Care, Neogen Corporation, GerMedUSA Inc and Sklar Inc. These players adopt various strategies such as mergers, acquisitions, partnerships with leading suppliers and distributors to capture larger market share.
 

Recent industry developments:

  • In September 2019, Jorgensen Laboratories announced launch of surgical staplers for veterinary surgical procedures. This strategy will complement the company’s existing product portfolio and aid in revenue generation.
     
  • In June 2015, Jørgen KRUUSE got merged with one of the major distributors of veterinary medical device, Henry Schein. This merger was aimed at expanding the customer base and geographic presence of the company. Also, the company announced merger with Vets First Choice to start a new company, rebranded as Covetrus, Inc. This business strategy has helped Henry Schein to strengthen their market position by expanding their product and service portfolio in the country.
     

Industry Background

Veterinary surgery gained pace after the end of World War II. Till early 1970’s significant development had taken place in terms of veterinary surgical instruments and procedures. Initial surgeries were performed with minimal emphasis on sterility and aseptic instruments. However, due to number of post-surgical complications, the need for sterile surgical instruments increased. Currently, various manufacturers provide and supply sterile veterinary surgical instruments in order to cater to the needs of farm and companion animals. Moreover, with the introduction of concept of planned pethood, the pet owners are also focusing on availing high-quality surgical treatments across the country. The U.S. veterinary surgical instruments market is a highly fragmented market with numerous small local players few multinationals. Various players focus on increasing the market share by undertaking numerous strategies such as mergers, acquisitions, partnerships with leading suppliers and distributors.
 


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