Global demand for veterinary surgical instruments market was valued at approximately USD 1,302.8 Million in 2018, and is expected to generate revenue of around USD 1,842.2 Million by end of 2025, growing at a CAGR of around 5.2% between 2019 and 2025.
The report covers forecast and analysis for the veterinary surgical instruments market on a global and regional level. The study provides historic data from 2016 along with a forecast from 2019 to 2025 based on revenue (USD Million). The study includes drivers and restraints for the veterinary surgical instruments market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the veterinary surgical instruments market on a global as well as regional level.
In order to give the users of this report a comprehensive view on the veterinary surgical instruments market we have included competitive landscape and analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein product and services segment is benchmarked based on their market size, growth rate and general attractiveness.
The report provides company market share analysis in order to give a broader overview of the key players in the veterinary surgical instruments market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new product launch, agreements, partnerships, collaborations & joint ventures, research & development, regional expansion of major participants involved in the veterinary surgical instruments market on global and regional basis.
A wide variety of surgical instruments are used by veterinary surgeons to perform different procedures. Scalpels, forceps, hooks & retractors, surgical scissors, and cannulas & trocars are some of the widely used veterinary surgical instruments.
Factors such as growing number of companion animals, increasing demand for pet insurance, increasing awareness regarding animal health, and technological advancements will act as major driving factors in the growth of global veterinary surgical instruments market. Growing demand from developing regions and initiatives taken by government and non-governmental organizations will act as an opportunity for the market players in the veterinary surgical instruments market. Nonetheless, high cost of surgical procedures, dearth of skilled veterinary surgeons, and lack of awareness in low income countries will restrict the growth of global veterinary surgical instruments market.
The global veterinary surgical instruments market has been split into product, animal type, application, and region. Based on product, veterinary surgical instruments market has been segmented into handheld devices, electro-surgery instruments, staplers, sutures, & accessories, and others. The staplers, sutures, & accessories segment accounted for the highest market share in 2018 due to growing number of veterinary surgeries, and rising awareness regarding use of sutures. The handheld devices segment has been divided into scalpels, forceps, hooks & retractors, surgical scissors, and cannulas & trocars. The animal type segment has been segmented into large animals and small animals. The application segment has been segmented into sterilization surgery, soft tissue surgery, urology & gynecology surgery, orthopedic surgery, ophthalmic surgery, dental surgery, and others. The sterilization surgery segment accounted for the highest market share in 2018 due to high number of sterilization surgeries performed globally.
North America will be the leading region during the forecast period. Growing quantity of companion animals, growing animal healthcare spending will boost the market growth in this region. Europe will be the succeeding largest market. The main reasons are existence of skilled veterinarians, rise in awareness regarding animal diseases. Asia Pacific will proliferate at speedy frequency over the estimate period due to high livestock population, progressive urbanization, increasing adoption of pets, and increasing per capita animal expenditure. Latin America market will develop at a significant rate during the forecast period. The Africa and Middle Eastern countries are likely to experience noticeable growth in the projected time-frame.
The report also includes detailed profiles of key players such as Medtronic Plc., B. Braun Vet Care GmbH, Ethicon Inc., GerMedUSA, Inc., Jorgensen Laboratories, JORGEN KRUSSE A/S, Smiths Group Plc, STERIS Corporation, Integra LifeSciences Holdings Corporation, and Neogen Corporation, among others.
This report segments the Global Veterinary Surgical Instruments Market as follows:
Global Veterinary Surgical Instruments Market: By Product
Global Veterinary Surgical Instruments Market: By Animal Type
Global Veterinary Surgical Instruments Market: By Application
Global Veterinary Surgical Instruments Market: By Region