Market Analysis
The global veterinary surgical instruments market is predicted to touch USD 2,760.6 million at a 6.3% CAGR over the forecast period (2017-2023), states the new Market Research Future (MRFR) report. Veterinary surgical instruments have been specially designed for performing different surgical procedures on various animals of different sizes and types. These instruments are picked resting on their function, which includes closing a wound, crushing, cutting, clamping, pulling, and holding. Surgical instruments are broadly classified into various types depending on the function and design.
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Various factors are propelling the veterinary surgical instruments market growth. These factors, as per the new MRFR report, include increased research and development expenditure, development of stronger and better materials, growing need for animal products, organized nature of meat and milk industry, the falling price of veterinary equipment, and an increasing number of companion animal and cattle adoption. Additional factors accelerating market growth include growing awareness of animal health, a growing number of animal welfare laws and regulations and veterinary hospitals, increasing per capita income, advancements in technology in devices, a growing number of practitioners, and increasing pet insurance. Moreover, mounting cases of trauma surgeries and soft tissue injuries among pets, product innovations, and government initiatives to stop zoonotic disease are also propelling market growth.
On the flip side, high animal health costs, the dearth in animal health issue awareness, and lack of skilled veterinarians especially in developing economies are factors that may deter the veterinary surgical instruments market growth over the forecast period.
Key Players
Prominent players profiled in the veterinary surgical instruments market report include B.Braun, Medtronics, Whittemore Enterprises, Inc., Sklar Instruments, Surgical Holdings, Jørgen KRUUSE A/S, Eickemeyer Veterinary Equipment Inc., and others.
March 2019: Bruhat Mahanagara Pallike (BBMP) will soon introduce animal rescue ambulances to rescue injured and ailing animals. These ambulances will be fully equipped with support tools, sterilizers, and surgical instruments to treat animals.
Market Segmentation
The MRFR report provides a complete segmental analysis of the veterinary surgical instruments market report on the basis of types, applications, and animals.
Based on types, the veterinary surgical instruments market is segmented into retractors, needle holders, scissors, dressing, forceps, and scalpel handles.
Based on applications, the veterinary surgical instruments market is segmented into dental, ophthalmic, sterilization, and orthopedic. Of these, the dental segment will have the largest share in the market over the forecast period. Factors aiding the growth of this segment include growing awareness amongst pet owners about their pet’s dental health, technological advancements in dental devices, and the growing prevalence of periodontal diseases.
Based on animals, the veterinary surgical instruments market is segmented into large animals, felines, and canines. Of these, the large animal segment will dominate the market over the forecast period. Factors aiding the growth of this segment include increasing animal healthcare spending, growing awareness among government animal healthcare organizations, and the growing incidence of chronic ailments of equine animals.
Regional Analysis
By region, the veterinary surgical instruments market report covers the latest trends and growth opportunities across North America, the Asia Pacific (APAC), Europe, and the Middle East and Africa (MEA). Of these, North America will have the lion’s share in the market over the forecast period. Factors aiding growth in the region include collective efforts made by key players for improving their product portfolio as well as ensuring high-quality standards, growing demand for pet insurance, organized and large dairy and meat industry, and favorable reimbursement scenario.
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The veterinary surgical instruments market in Europe will have the second-largest share in the market over the forecast period followed by the APAC region, which is predicted to grow at the fastest pace. Factors aiding growth in the region include increasing per capita animal health expenditure, progressive urbanization, growing awareness about animal health, growing pet adoption, and rising livestock population. Moreover, the growing adoption of companion animals and burgeoning demand for animal-derived food products are also accelerating market growth in the region.
The veterinary surgical instruments market in the MEA will have a stable growth over the forecast period.
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