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Best Market Research on Veterinary Surgical Instruments Market, Industry / Sector Analysis Report, Regional Outlook & Competitive Market Share & Forecast, 2019 – 2025

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Trusted Business Insights presents the Updated and Latest Study on Veterinary Surgical Instruments Market 2019-2025. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.

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Abstract, Snapshot, Market Analysis & Market Definition: Veterinary Surgical Instruments Market
Industry / Sector Trends

Veterinary Surgical Instruments Market size was valued at USD 1.3 billion in 2018 and is expected to witness more than 5% CAGR from 2019 to 2025.

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

Increasing expenditure of animal healthcare and growing adoption of pet animals for companionship will be the major factors leading to growth of veterinary surgeries, thus driving the growth of veterinary surgical instruments market. For instance, as per the American Pet Products Association’s 2017-2018 National Pet Owners Survey, in 2017, about USD 470 and USD 245 was spent annually on surgical veterinary services for dogs and cats, respectively. High expenditure on pet care and veterinary services will be the major factor leading to market growth across the forecast timeframe.

Rising awareness pertaining to various animal health issues and conditions among companion and livestock animal owners will be one of the major factors leading to industry growth.  High demand for veterinary surgical services due to growing number of trauma and soft tissue injuries will be the chief factor for market growth. In addition, growing number of veterinary practitioners to meet the rising needs of various animal health conditions will further propel veterinary surgical instruments market growth across the forecast period.

However, high cost of surgeries coupled with poor and irregular pet insurance coverage in developing nations will hinder the market growth. Additionally, stringent regulatory policies governing medical and surgical devices will hamper business growth during the projection period.

Market Segmentation, Outlook & Regional Insights: Veterinary Surgical Instruments Market

Veterinary Surgical Instruments Market, By Product

Germany veterinary surgical instruments market share, by product, 2018

Surgical scissors segment accounted for revenue of USD 315.9 million in 2018 and is estimated to show significant growth in the future. Surgical scissors are most commonly used instrument in several veterinary surgeries. Additionally, various market players are focusing on development of superior designed and easy-to-use surgical scissors for veterinarians. The development of surgical scissors with various shapes and sizes to meet the specific surgery requirement will be conducive to segmental growth in the future.

Electrosurgery instruments segment is forecasted to expand at 5.4% CAGR across the forecast timeframe. High growth is attributed to various advantages associated with electrosurgery instruments such as easy handling, high accuracy and sensitivity coupled with reduced damage to surrounding tissue. Moreover, high precision and wide array of applications in various veterinary surgical procedures will lead to higher adoption of electrosurgery instruments in the future.

Veterinary Surgical Instruments Market, By Animal Type

Small & medium animal segment is forecasted to reach USD 1.2 billion by 2025. High number of pet injuries and dental disorders will foster the demand for pet surgeries, thus propelling segment growth. Increasing spending on pet care services and rising awareness among pet owners regarding various animal health issues will primarily drive segment growth. Additionally, increasing number of pet adoption in developing and developed economies will further boost segmental growth in the future.

Large animal segment will expand at 5.4% from 2019 to 2025. High growth is attributed to increasing prevalence of chronic diseases, rising awareness among government animal healthcare organizations and growing animal healthcare spending in developing countries. Moreover, rising prevalence of various ophthalmologic conditions in farm animals coupled with bone injuries will drive segmental growth.

Veterinary Surgical Instruments Market, By Application

Dental surgery segment dominated the overall market with revenue of USD 397.1 million in 2018 and similar trend is expected during the projection period. Growing prevalence of various dental disorders such as gingivitis and periodontitis will boost segmental growth. For instance, as per the American Veterinary Dental College, majority of pet dogs and cats aged above three years are affected with dental disorders. Growing emphasis by pet owners to improve dental health of their companion animals will be conducive to segmental growth in the future.

Orthopedic surgery segment will witness growth of 5.6% during the analysis period. Increasing number of bone fractures in companion and livestock animals coupled with high demand for bone implants will upsurge segmental growth in the future. Additionally, increasing number of veterinary hospitals and clinics to meet the growing orthopedic surgery demand will support the business growth.

Veterinary Surgical Instruments Market, By End-use

Use of surgical instruments in veterinary hospitals is expected to show significant growth rate with market share of 39.7% in 2018. Increasing number of surgeries performed by veterinary surgeons due to growing emphasis on companion and livestock animal health will boost the segment growth. Additionally, presence of sophisticated and technologically advanced instruments will spur business growth during the forecast timeframe.

Veterinary clinics segment revenue is expected to reach USD 1.0 billion by 2025. Growing number of veterinary clinics coupled with better patient outreach are major factors for growth of veterinary clinics segment. Additionally, factors such as growing pet insurance and specialized treatment offered at veterinary clinics will drive business growth in the future.

Veterinary Surgical Instruments Market, By Region

Europe veterinary surgical instruments market share, by country, 2025 (USD Million)

North America veterinary surgical instruments market accounted for revenue of USD 541.4 million in 2018. Increasing number of skilled veterinary practitioners and growing animal healthcare expenditure are the major reasons for market growth. Additionally, rising demand for pet insurance coupled with growing prevalence of various disorders that require surgical procedures will significantly drive regional growth.

Asia Pacific region is forecasted to expand at 6.2% during the projected timeframe owing to growing adoption of companion animals in developing nations such as India and China. Also, rise in the variety of diseases associated with large population of livestock animals will further boost reginal growth. Rising disposable income and growing awareness among pet and livestock owners regarding animal health will support the growth of Asia Pacific veterinary surgical instruments market.

Key Players, Recent Developments & Sector Viewpoints: Veterinary Surgical Instruments Market

Major industry players involved in veterinary surgical instruments market include B. Braun Vet Care, Medtronic, Jorgen Krusse, Ethicon and Sklar Surgical Instruments. These market players hold significant share of the market and undertake various strategies such as acquisitions and mergers, new product launch, geographical expansion and collaboration to maintain their market position.

Recent industry developments:

In July 2018, B. Braun Vet Care announced collaboration with CP Medical, a leading company involved in manufacturing of instruments for specialty surgical applications and wound closure for development, sales and distribution of medical devices in U.S. and Canada. This collaboration enabled the company to strengthen its presence in developed markets of North America.
In October 2017, Henry Schein announced acquisition of Merritt Veterinary Supplies, a family-owned company involved in supply of animal health products. This acquisition was aimed to expand the companys customer base and strengthen its market position in animal health industry.

Veterinary Surgical Instruments Industry Viewpoint

The veterinary industry is growing at a significant rate on a global level. Several factors including the growing application of veterinary surgical instruments for pet surgeries, increasing trend of pet adoption along with rising rate of animal surgeries will augment market growth. Veterinary surgical instruments have a wide variety of animal specific surgical tools for various clinical procedures. It includes forceps, surgical scissors, hooks & retractors, electro-surgery instruments and others. Moreover, increasing participation of major players providing surgical instruments for veterinary clinical procedures will further augment market growth. For instance, B. Braun Vet Care, Medtronic, Jorgen Krusse and Sklar Surgical Instruments are few of the major firms operating in the veterinary surgical instruments market. Owing to increasing awareness among the population about various surgical procedures for animal health have further boosted the demand for veterinary surgical instruments.

Key Insights Covered: Exhaustive Veterinary Surgical Instruments Market
1. Market size (sales, revenue and growth rate) of Veterinary Surgical Instruments industry.
2. Global major manufacturers’ operating situation (sales, revenue, growth rate and gross margin) of Veterinary Surgical Instruments industry.
3. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Veterinary Surgical Instruments industry.
4. Market size (sales, revenue) forecast by regions and countries from 2019 to 2025 of Veterinary Surgical Instruments industry.

Research Methodology: Veterinary Surgical Instruments Market

  • Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  • Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  • Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.

 

Quick Read Table of Contents of this Report @ WorldWide Veterinary Surgical Instruments Market, Industry / Sector Analysis Report, Regional Outlook & Competitive Market Share & Forecast, 2019 – 2025

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This post was originally published on Downey Magazine