Home > Pressrelease > Veterinary Surgical Instruments Market size to exceed $2.3bn by 2030
Veterinary Surgical Instruments Market size to exceed $2.3bn by 2030
- Published Date: July 25, 2022
Veterinary Surgical Instruments Market size is set to surpass USD 2.3 billion by 2030, according to a new research report by Global Market Insights Inc.
Continuous surge in prevalence of zoonotic diseases, growing number of veterinary surgeons along with veterinary hospitals especially in developed countries are few factors influencing the market revenue. The zoonotic diseases have potential to cause great harm to the human population and have the capacity to get transferred from animals to humans. Also, these diseases are extremely contagious and lethal if not treated properly and bring threat to humans as well as animals that are in close contact with infected animals.
Growing demand for pet health insurance will fuel the veterinary surgical instruments market expansion
In recent years, the adoption rate of pet animals has seen a huge surge and there is great awareness among the population regarding animal health issues. The veterinarians show great commitment towards improving the health of every animal species in all kinds of environments. Also, there are various pet health events organized by various institutes and government bodies for educating pet parents about pet health and zoonotic diseases.
For instance, the American Veterinary Medical Association (AVMA) holds various resources to support veterinarians for routine practices in areas of therapeutics, biologics, nutrition, animal health as well as responsible pet ownership. It provides resource for help in case of disaster and emergency preparedness and response to both pet parents and veterinarians.
Lack of skilled professionals in developing countries may hamper the veterinary surgical instruments market growth
Lack of skilled veterinary professionals in developing economies expected limit the market value in the short run. For instance, according to the Veterinary Council of India, in 2021, there were 70,767 registered veterinary practitioners while the requirements stands at 120,000. This is lower than the number of vets in U.S. The lower number of veterinary surgeons can be attributed to a low awareness regarding animal health and lower rates of pet adoptions.
Wide application of surgical scissors in small and complex surgical procedures will foster the veterinary surgical instruments market trends
Surgical scissors segment is projected to register 7.4% CAGR during the forecast period. This is owing to availability of various distinct types, sizes, and shapes of surgical scissors. Also, different tip configurations such as sharp-sharp, blunt-blunt, or sharp-blunt are utilized for completion of different tasks. Therefore, the demand for these surgical scissors is increasing due to its wide applications on a regular basis in all veterinary facilities for small as well as highly complex surgeries.
Growing demand for high-tech surgical facilities for large animals will spur the market size
Large animals segment is likely to reach USD 899 million by 2030. The treatments of large animals and the surgical procedures associated with them are highly complex. They need more than one surgeon at times and high-tech facilities for treatment. Few of the critical care surgeries associated with large animals include colics, wounds, fractures, and breakdown injuries, among others. Regular surgical procedures include laser procedures, urogenital surgery, neonatal procedures, limb surgery, abdominal surgery, wound repair, tumor removals, upper respiratory/throat surgery, dental procedures, etc.
Browse key industry insights spread across 150 pages with 219 market data tables & 18 figures & charts from the report, “Veterinary Surgical Instruments Market Analysis By Product (Sutures & Staplers, Forceps, Scalpels, Surgical Scissors, Hooks & Retractors, Trocars & Cannulas, Electro-surgery Instruments), Animal Type (Small & Medium Animals, Large Animals), Application (Dental Surgery, Orthopedic Surgery, Neurosurgery, Ophthalmic Surgery), End-use (Veterinary Clinics, Veterinary Hospitals, Research Centers & Academia), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2022 – 2030” in detail along with the table of contents:
High number of bone fractures in companion as well as livestock animals will fuel the veterinary surgical instruments market revenue
Orthopedic surgery segment surpassed USD 249.9 million in 2021. The bone related issues and fractures are increasing and are very common in small animals such as dogs and cats. This is due to increased road accidents of animals, fights, firearms, or falls. Similarly, the fracture characteristics like simple, oblique, comminuted spiral or transverse are based on disruptive trauma forces (bending, compression, tension, and rotation). Treatment of such fractures can be complicated at times and may require complex orthopedic surgeries.
Increasing number of veterinary surgical procedures in hospital settings will propel the veterinary surgical instruments market progression
Veterinary hospital segment accounted for 40% business share in 2021 and is set to register a significant CAGR through 2030. This is owing to the as growing pet owner’s fondness and availability of skilled surgeons in these facilities. Also, for complete care and handling of severely complex cases, advanced technology and specialized surgical instruments are required daily. Therefore, government authorities are specifically focusing on establishing modernized, well equipped medical infrastructure to provide maximum facilities. Thus, with modernized veterinary surgical instruments, the number of surgeries is expected to escalate in the hospital settings.
Increasing awareness regarding pet health issues in Europe will drive the regional veterinary surgical instruments market demand
Europe market is estimated to exhibit a CAGR of 7.7% to exceed USD 535.2 million by 2030. This is attributed to growing number of pets along with increasing awareness pertaining to pet health in the region. The rising food borne diseases and various health threats to animals has triggered a wave of concern among owners. This has led to increasing adoption of advanced surgical instruments among the veterinarians. For instance, with rising incidences of periodontal diseases, technologically advanced dental devices are used to meet the growing demand.
Companies undertaking inorganic growth strategies to strengthen veterinary surgical instruments business portfolio and revenue
Some of the prominent players operating in the veterinary surgical instruments industry include B. Braun Vet Care, Sklar Surgical Instruments, Vimian Group, and Neogen Corporation, among others. These key players focus on strategies such as acquisitions mergers, collaboration, and innovative product development to increase the revenue and strengthening the market position.
For instance, in May 2022, TheraVet announced partnership and distribution agreement with Veterinary Instrumentation, one of the leading companies providing veterinary orthopedics and surgical instrumentation. With this agreement, the company is anticipated to enhance its distribution network in U.K and Ireland for the BIOCERA-VET product line, thereby strengthening its market presence.
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