January 24, 2020
According to the research report titled ‘Veterinary Surgical Instruments Market Size By Product (Sutures & Staplers, Forceps, Scalpels, Surgical Scissors, Hooks & Retractors, Trocars & Cannulas, Electro-surgery Instruments), 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 Centers & Academia), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Japan, China, India, Australia, Brazil, Mexico, South Africa, Saudi Arabia), Application Potential, Competitive Market Share & Forecast, 2019 – 2025’, available at MarketStudyReport.com, the global veterinary surgical instruments market is expected to cross USD 1.8 billion by the year 2025.
According to the report, rising cases of animal injuries along with growing occurrence of chronic animal disorders are major factors driving the veterinary surgical instruments market. Growing demand for pet insurance plans in countries such as U.K. and U.S. have compelled pet owners to avail the veterinary surgical services which in turn is aiding the expansion of the market.
As per product type, sutures and staplers segment is presumed to be worth USD 138.8 million by the year 2025. Several manufacturing companies are primarily focusing on developing cost-effective and easy-to-use surgical instruments for treating animal wounds. Moreover, skin staplers are of better design and offer low post-surgery complications, thereby contributing substantially towards the popularity of skin staplers among veterinarians across the globe.
In terms of animal type, large animals segment is expected to grow with a CAGR of 5.4% during 2019-2025. Rising prevalence of chronic diseases among farm animals and livestock is stimulating the industry outlook.
Based on the application spectrum, the report states that ophthalmic surgery segment is estimated to expand with 5.2% CAGR between 2019 and 2025. Increasing frequency of ophthalmic diseases among large and small animals along with availability of advanced ophthalmic techniques for treating eye diseases are facilitating the business scenario.
Citing the end-use landscape, veterinary hospital segment was worth USD 39.7% in the year 2018. Growing inclination towards adopting pets, availability of skilled veterinarians, and favorable reimbursement policies for pets are boosting the segmental growth.
Considering the geographical landscape, the report cites that U.S. veterinary surgical instrument market was worth USD 492 million in the year 2018. Rising trends of adopting pets and increasing awareness pertaining to pet healthcare and animal disease are augmenting the demand for veterinary surgical instruments across the country.
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On the other hand, Japan veterinary surgical instrument industry is predicted to grow with a CAGR of 5.4% through 2025. Increasing number of collaborations among public and private organizations in order to promote animal health services will foster the market growth. Rapid urbanization and escalating disposable income are also contributing towards the growth of the market.
GerMedUSA, BMT Medizintechnik GmbH, Surgical Holdings, Neogen Corporation, Jorgensen Labs, Sklar Surgical Instruments, Ethicon, Jorgen Krusse, Medtronic, and B. Braun Vet Care are the prominent companies operating in the veterinary surgical instruments market.
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