ID: MRFR/MED/2068-CR | June 2017 | Region: Global | 100 pages
The veterinary surgical instruments market size value is estimated to reach USD 2760.6 million, growing at a CAGR of 6.3% during the forecast period 2017-2023. Veterinary surgical devices are beneficial for plenty of factors. They are essential for the treatment and monitoring of diseases in animals. Successful surgeries are performed every year for the treatment of animals. There are elector surgery, staplers and handheld instruments in the market. The need for animal surgeries is high in many developed nations. With a growing population of humans, the population of livestock is rising. The amount of pet ownership is massive in many regions. The growing rate of livestock leads to infectious diseases among pets. Some of the illness in pet animals is chronic. They require immediate surgery.
For these cases, veterinary surgical instruments are used. Proper treatment for animals is possible through effective surgical instruments. Few diseases are zoo tonic that can cause harm to even humans. Further, the research in the veterinary market is escalating. Higher studies about animal diseases and treatment will lead to more demand in the veterinary surgical instruments market. The developed nations are allocating more investment to the market. It will bring favourable changes in the veterinary surgical instruments. The animal cruelty centre reports the surgeries for livestock will be tremendous in the forecast period. The rising technological advancement is the major factor enabling effective surgeries in pet animals.
The surgeries market is facing few restrictions in this pandemic. Due to the lockdowns, the number of surgeries on the animal is declining. As per the veterinary medical association, more than 98% of clients were restricted from visiting vet hospitals. Urgent surgeries happened during this period. All these factors decline the overall demand for the veterinary surgical instrument market. Also, the outbreak of covid 19 is increasing the rate of pet adoption in many places.
The animal cruelty centre says that the adoption doubled during this period. The growing adoption of pet animals will provide more growth to the veterinary surgical instruments market. Once the covid disease is managed the operations of the veterinary market will happen smoothly. With more pet animals, the possibilities for vet surgeries will increase. The demand for the veterinary surgical instruments market will be immense during the forecast period. All this will lead to positive changes in the market.
An increase in the animal population is the crucial driver for veterinary surgical instruments market. Having pet animals at home has a positive impact on humans. Individuals who have pet animals lead a peaceful and healthy life. Decrease in heart disease, high psychological stability, reduced anxiety and normal blood pressure is some of the benefits. In the US alone the pet adoption is rising from 69.9 million to 89.9 million in recent years. Another emerging market is witnessing high pet ownership. The medically proven health benefits and inclination to take care of pets is driving this market.
With the increased pet population, the number of diseases rises. It leads to more surgeries and demand for the veterinary surgical instruments market. as per veterinary surgical instruments market report, medical clinics will grow at an exponential pace. In many regions, new vet clinics are opened. It leads to effective surgeries for pets. With a high number of pet clinics, the treatment and surgeries rate is surging. In the upcoming years, there will be even more new pet clinics in emerging markets. It will lead to the immense demand for the veterinary surgical instruments market. These crucial drivers of the veterinary surgical instruments market will lead to a high profitability rate.
The growth of the electro surgery segment of the veterinary surgical instruments market will lead to plenty of growth opportunities. Veterinary healthcare is complex with traditional surgeries. With the growth of electro surgery precise and successful treatments are possible. Also, with this surgery, the damage of other soft issues is less. The inconvenience after a veterinary surgery is less with electro instruments.
Pain post-surgery is less with the electro instruments. Most pet owners will adopt this segment of the market in the upcoming years. Further, many governments are allocating separate investments for the veterinary market. Animal health is important in many regions. With a higher rate of investment, more surgical procedures will happen. Effective surgeries chronic illnesses in animals are treatable. Due to high investment, the scope for the veterinary surgical instrument industry is higher. These factors will bring favourable veterinary surgical instruments market growth opportunities.
The cost of veterinary surgeries is a major restraint in the veterinary surgical instruments market. In the last decade, the pet costs for treatment and surgeries are massive. Every year the cost of treatment for pets is becoming expensive. Even routine pet checkups are pricey n many regions. The high cost of surgeries for animals will hinder the overall market growth.
The cost of surgery is rising by 47% every decade. This high cost can impact the number of visitors to pet hospitals. The rate of visitors declines significantly in the forecast period. It is a restraint that can hamper the demand for the veterinary surgical instruments market. With fewer surgeries, the use of surgical instruments will reduce.
The veterinary surgeries are surging every year. Earlier, the number of surgeries performed for animals is less. Today, the number of pet surgeries is surging every year. Still, there is a lack of awareness about animal health in many regions. Regular pet checkup is very less in the Asia Pacific and Europe. Lack of awareness about pet health can decline the demand for the veterinary surgical instruments market.
Less knowledge about pet health leads to less awareness about types of surgeries in the veterinary surgical instruments market. Many pet owners are not aware of heart surgeries and other treatments available for pets. The pets suffer from these conditions but the owner is unaware of them. Many pet owners do not know about the underlying health conditions and symptoms of their pet animals. All these factors lessen the growth of the veterinary surgical instruments market.
The growth of the veterinary surgical instruments market is stable in the forecast period. Some factors continuously stir demand for the market. An increase in animal population is the key driver of the veterinary surgical instruments market. The adoption of these animals is massive in many regions. These factors are accepted to raise animal diseases and surgeries in the incoming years.
The growth of small veterinary clinics in many regions leads to the immense demand for the market. The high cost of pet treatment can have a declining effect on market growth. Also, a lack of knowledge about pet health is a significant challenge. However, with the electro surgery segment, the growth trends are expected to remain positive in the forecast period.
North America will dominate with the highest veterinary surgical instrument market. The growth of companion animals in this region is the crucial demand driver. The adoption of pet animals is immense in North America.
It leads to more treatment and surgeries for these pet animals. The expenditure for veterinary healthcare insert is massive in this region. Further, exceptional pet insurance policies lead to a higher number of surgeries in this region. It is a region that will record the highest revenue rates for the global veterinary surgical instruments market.
The competition in the veterinary surgical instrument market is rising. With new entry players, the competition is severe. New types of surgical instruments will be launches in various regions. These increases research will lead to an advanced surgical tool that comes with high-end features. Market expansion, growth, acquisitions and partnership are the key strategies in the competitive landscape.
North America will hold most of the shares in the market. Advanced surgeries and instruments in the region will lead to high growth. Rising health investments will bring promising changes in the market. U.S veterinary surgical instruments market is witnessing rapid growth. Europe is another large market with a high expansion rate in the forecast period.
The requirement for effective surgeries in farm and companion animals is high. Development in health infrastructure will lead to more growth. The Asia Pacific will witness the fastest growth. also, the veterinary surgical instruments suppliers are more. The adoption of pet animals is higher in recent years. It will lead to the tremendous demand for the veterinary surgical instruments market.
The key players of the veterinary surgical instrument market are
|Market Size||2023: USD 2760.6 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Types, Applications, Animals|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Eickemeyer Veterinary Equipment Inc., Jørgen KRUUSE A/S, Surgical Holdings, Sklar Instruments, Whittemore Enterprises, Inc., Medtronics, B.Braun|
|Key Market Opportunities||US accounts for the maximum market share due to favorable reimbursement scenario|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
Veterinary Surgical Instruments Market is projected to grow at a 6.3% CAGR between 2020-2027.
Veterinary Surgical Instruments Market predicted to touch USD 2760.6 million by 2024
US is expected to dominate the Veterinary Surgical Instruments Market.
Key players in the Veterinary Surgical Instruments Market include B.Braun, Medtronics, Whittemore Enterprises, Inc., Sklar Instruments, Surgical Holdings, Jørgen KRUUSE A/S, and Eickemeyer Veterinary Equipment Inc.
Dental application segment will dominate the Veterinary Surgical Instruments Market.