Veterinary Surgical Instruments Market size to exceed $1.8bn by 2025

Veterinary Surgical Instruments Market size is set to exceed USD 1.8 billion by 2025; according to a new research report by Global Market Insights.
 

A momentous growth in the number of veterinary hospitals and veterinary surgeons worldwide will drive the veterinary surgical instruments market growth in the coming years. As per report by the American Veterinary Medical Association (AVMA), a total of 1,10,531 veterinarians were present in the U.S. in 2017 as compared to 1,07,995 in 2016. With the growing number of veterinary hospitals and surgeons, the usage of surgical instruments will also increase, thereby boosting the industry growth during the estimation period.

 

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Growing demand for pet adoption and increasing per capita income in developing economies is estimated to escalate the demand of surgeries for animals over the forthcoming years. According to the American Veterinary Medical Association (AVMA) in 2018, nearly 57.0% of household has pets in the U.S. Also, pet ownership is highest in more rural states and generally lower in urban states. Thus, surge in pet adoption will fuel the demand for veterinary surgical instruments industry over the projected timeframe.
 

U.S. veterinary surgical instruments market, by product, 2018 & 2025 (USD Million)
Veterinary Surgical Instruments Market

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However, high cost associated with animal surgery will hinder the growth of veterinary surgical instruments market in developing and under-developed countries. Furthermore, factors such as shortage of trained veterinarians and lack of animal health awareness in developing economies will impede the industry growth to a certain extent over the upcoming years.
 

Sutures and staplers segment is anticipated to witness largest revenue share, accounting for a total value of USD 97.2 million in 2018 during the foreseeable period owing to its wide applications in all types of surgeries performed on companion animals as well as livestock. The segment growth is attributed to rising demand for orthopedic implants due to accidental injuries among animals. Additionally, availability of a full line of absorbable and non-absorbable hospital grade sutures with effective wound closure solutions will further propel the industry growth.
 

Small & medium animal segment will witness 4.9% CAGR during the forecast period due to rising pet ownership and increasing demand for efficient animal care. According to the National Pet Ownership Survey conducted by the American Pet Products Association (APPA) in 2017-2018, nearly 68.0% of households have pets in the U.S. Also, each year nearly 6.5 million companion animals enter U.S. animal shelters countrywide. Among them, 3.2 million are cats and 3.3 million are dogs. Increase in demand for pets will boost the segment growth over the forecast period.
 

Dental surgery segment held the largest market share, accounting for a total value of USD 397.1 million in 2018 and is expected to maintain its position over the forthcoming years owing to rising awareness among pet owners regarding dental health of pets. Growing prevalence of periodontal diseases such as gingivitis and periodontitis in veterinary animals will spur industry growth. Moreover, technological advancement in dental devices will further increase the dental surgery market growth in the projected timeframe.
 

Veterinary hospitals as an end-use segment will witness 5.3% CAGR during the forecast period owing to the increasing number of veterinary practitioners and veterinary hospitals. Growing pet owner’s fondness and availability of skilled surgeons in these facilities will serve as impact rendering factors in the business growth. Moreover, availability of favorable pet insurance policies and growing animal health awareness levels will further surge the industry growth.
 

Browse key industry insights spread across 150 pages with 222 market data tables & 9 figures & charts from the report, “Veterinary Surgical Instruments Market Size By Product (Sutures and Staplers, Forceps, Scalpels, Surgical Scissors, Hooks & Retractors, Trocars & Cannulas), 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 Institutes & Academia), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Russia, Japan, China, India, Australia, South Korea, Mexico, Brazil, Argentina, South Africa, Saudi Arabia, UAE) Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/veterinary-surgical-instruments-market
 

U.S. market is estimated to exceed USD 668.5 million by 2025 owing to surging adoption of companion animals in the country. Growing demand for pet insurance has been bolstering the growth of the market. As per the North American Pet Health Insurance Association (NAPHIA), total number of pets insured in the U.S. reached 2.1 million in 2017. In addition, rising collective efforts by major players in the market to improve their product portfolio will further augment the demand for veterinary surgical instruments in the U.S.
 

Indian market is estimated to expand at 7.2% CAGR during the analysis period owing to increasing livestock population in the country. Rising pet adoption, growing awareness about animal health and rising per capita animal health expenditure will spur the industry growth. Moreover, growing alliances by private and public organizations to encourage the awareness of animal health services will further boost India veterinary surgical devices market growth in the coming years.
 

Some of the prominent players operating in veterinary surgical instruments market are Medtronic, Ethicon, Integra LifeSciences, B. Braun, Smiths Group, STERIS Corporation, Surgical Direct, World Precision Instruments, DRE Veterinary, and Sklar Surgical Instruments among others. Market players are involved in various strategic initiatives such as mergers & acquisitions, strategic collaborations, and partnerships with other participants to obtain significant market share and sustain competition over other firms operating in the market. Furthermore, novel product launch in developed as well as developing economies by these enterprises enable them to serve a broader customer base.
 

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Veterinary Surgical Instruments market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2014 to 2025, for the following segments:
 

Veterinary Surgical Instruments Market, by Product, 2014-2025 (USD Million) 

  • Sutures & Staplers
  • Forceps
  • Scalpels
  • Surgical Scissors
  • Hooks & Retractors
  • Trocars & Cannulas
  • Electro-surgery instruments
  • Others

Veterinary Surgical Instruments Market, by Animal Type, 2014-2025 (USD Million) 

  • Small & Medium Animals
  • Large Animals

Veterinary Surgical Instruments Market, by Application, 2014-2025 (USD Million) 

  • Dental Surgery
  • Orthopedic Surgery
  • Neurosurgery
  • Ophthalmic Surgery
  • Others

Veterinary Surgical Instruments Market, by End-use, 2014-2025 (USD Million) 

  • Veterinary Clinics
  • Veterinary Hospitals
  • Research Institutes & Academia

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Spain
    • Russia
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa
    • South Africa
    • Saudi Arabia

 

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