Veterinary Surgical Instruments Market Size

Veterinary Surgical Instruments Market Size

Veterinary Surgical Instruments Market size exceeded USD 1.2 billion in 2022 and is slated to expand at over 6.5% CAGR from 2023 to 2032. The considerable surge in animal healthcare expenditure across developed economies is a prominent factor accelerating business growth over the next ten years.

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Surgical procedures among animals have become commonplace as pet owners have become increasingly concerned about their pet health and the consistent improvement in disposable incomes. For instance, according to the Health for Animals, in 2021, consumers spent USD 123.6 billion on pets and pet-related products in the U.S. These concerns have encouraged governments and veterinary product manufacturers globally to make significant investments and leverage novel technologies to improve existing product lines.

This, in consequence, will have a favorable impact on the veterinary surgical instruments industry. Moreover, the increasing prevalence of zoonotic diseases such as rabies, brucellosis, Lyme disease, and several foodborne diseases and rising awareness about these health conditions will contribute positively to the industry revenue streams. However, the high cost associated with veterinary surgeries and the lack of skilled veterinary professionals in developing economies may impede market performance throughout the estimated timeframe.