Veterinary Surgical Instruments Market Future trends

Veterinary Surgical Instruments Market to Reach US$ 2.6 bn by 2031, driven by Rising awareness pertaining to various animal health conditions: Global Insight Services

New York, November 2022: According to a new research study by Global Insight Services (GIS), the global veterinary surgical instruments market is expected to grow rapidly over the next 10 years to reach a value of more than the US $ 2.6 billion by 2031.

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Veterinary Surgical Instruments Market: Key Trends and Drivers

Growing adoption of pet animals for companionship coupled with increasing expenditure of animal healthcare are few of the major factors leading to growth of veterinary surgeries. For instance, as per the American Pet Products Association’s 2021-2022 National Pet Owners Survey, in 2021, about USD 583 and USD 343 was spent annually in U.S. on surgical veterinary services for dogs and cats, respectively. Thus, high expenditure on pet care and veterinary services is anticipated to be the major factor leading to market growth across the forecast timeframe. Furthermore, high demand for veterinary surgical services due to growing number of trauma and soft tissue injuries will be further fostering the veterinary surgical instruments market share.

Veterinary Surgical Instruments Market: Restraints & Challenges

High cost associated with the veterinary surgeries can potentially limit the overall market growth of veterinary surgical instruments. Pet animals as well as other large animals require surgery for several reasons such as spay & neutering, oral surgery, hip dysplasia surgery etc. and the expenses can vary greatly depending on the procedure. For instance, hip dysplasia cost around USD 8,000, cataract surgery cost between USD 1,000 – USD 3,000 and chemotherapy charges over USD 5,000 during veterinary treatment. However, several other factors can contribute to the varying surgery cost such as procedure type, age of the pet, breed, and animal size, cost of veterinary surgical instruments used and whether treatment is performed by specialty vet.

Veterinary Surgical Instruments Market Report Findings

https://www.globalinsightservices.com/reports/veterinary-surgical-instruments-market/

The electro- surgery instruments is likely to hold a dominant veterinary surgical instruments market share and grow at a substantial CAGR during the forecast period.

Based on product, market is segmented into sutures & staplers, forceps, scalpels, surgical scissors, hooks & retractors, trocars & cannulas, and electro-surgery instruments. Out of these the electro- surgery instruments segment accounted for largest market proportion and is anticipated to remain dominant throughout the forecast period. 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. Further, these instruments utilize electric currents to cut and coagulate tissues and have accessibility in areas that are difficult to reach with scalpel surgery. It is extremely useful for saving life of animals by offering high precision with small incision. Thus, benefits and minimal risk associated with the use of electro-surgery instrument is expected to foster the veterinary surgical instruments market demand.

The small & medium animals segment is anticipated to hold a majority of the veterinary surgical instruments market size throughout the study period.

Based on animal type, the veterinary surgical instruments market is divided into small & medium animals, and large animals. The small & medium animals segment accounted for significant market revenue in 2021 and is expected to register considerable growth throughout the forecast period. The significantly rising pet adoption trends along with the growing expenditure on the pet care by their owners is expected to spur the market growth. For instance, according to the North American Pet Health Insurance Association (NAPHIA)’s State of the Industry Report 2022, the total premium pet insurance volume in the U.S. was near to USD 2.6 billion (28% increase from 2020) in 2021. Hence, availing pet insurance will help pet parents to decrease their out-of-pocket expense.

The dental surgery segment is anticipated to hold a majority of the veterinary surgical instruments market size throughout the study period.

Based on the application, the veterinary surgical instruments market is divided into dental surgery, orthopedic surgery, neurosurgery, and ophthalmic surgery. Among these, the dental surgery segment accounted for a significant market proportion in 2021 and is expected to register nearly significant CAGR between 2022 to 2030. Dental care is an important aspect of pet health, as poor dental health can lead to various other health issues in pets. Pets tend to become irritable as they begin to have dental problems. They may show signs of dental conditions such as periodontal and gingivitis disease which is most common in cats and dogs. For instance, as per the American Veterinary Dental College, majority of pet dogs and cats aged above three years are affected with dental disorders. Therefore, the dental care for pets is extremely essential for overall pet health. Thus, the necessity for dental care in pets will surge the dental surgery volume.

The veterinary clinics segment is anticipated to hold a majority of the veterinary surgical instruments market size throughout the study period.

With regards to end-use, the veterinary surgical instruments market is divided into veterinary clinics, veterinary hospitals, and research centers & academia. The veterinary clinics segment accounted for significant market revenue in 2021. Growing number of veterinary clinics coupled with better patient outreach are major factors for growth of veterinary clinics segment. Also, the clinics is noted to witness huge number of visits in case of any problems with the animal or animal’s annual check-up. This includes complete physical examination, with robust investigation of pet’s head, body and tail, and all assorted cavities including emergency surgery if required

The Asia Pacific region is estimated to exhibit the highest growth rate during the veterinary surgical instruments market forecast period.

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. Asia Pacific is projected to be the fastest-growing regional market over the forecast period. This growth is owing to the pet humanization and increased awareness of animal welfare are expected to fuel the Asia Pacific market over the forecast period. Japan accounted for a significant share of the regional market due to the rapid adoption of new techniques such as advanced diagnostic services and the increasing geriatric pet population. Several dogs and cats are living to a mean age of 12 to 13 years in Japan. Increasing cases of chronic disorders in animals is fueling the demand for surgical intervention. The aforementioned factors are expected

Competitive Landscape

The global veterinary surgical instruments market report includes players such as Medtronic plc. B. Braun Vet Care, Jorgen KRUSSE A/S (Henry Schein), Ethicon, Sklar Surgical Instruments, Jorgensen Labs, Neogen Corporation,, Vimian Group, BMT Medizintechnik GmbH, and GerMedUSA,, among others. In addition, major vendors are focused on developing smarter technologies for surface disinfections.

Recent Developments in the Veterinary Surgical Instruments Market:

• In April 2022, Movora, a business division of Vimian Group, acquired two product portfolios of veterinary surgical instruments and orthopedic implants in the U.S. This strategy helped the company to enter into new product category and enhanced their product portfolio of orthopedic implants along with strengthening its veterinary surgical instruments market position.
• In September 2019, Jorgensen Laboratories launched its surgical staplers for veterinary surgical procedures. This product launch enabled the company to add value to its existing product portfolio and aid in revenue generation.
• In November 2019, ApexVets launched single-use surgical instruments for veterinary practice.
• In July 2018, B. Braun Vet Care signed an agreement with CP Medical wherein the company would market B. Braun’s veterinary Infusion Therapy product line in U.S. and Canada.

Veterinary Surgical Instruments Market Report Coverage

• The report offers a comprehensive quantitative as well as qualitative analysis of the current global veterinary surgical instruments market outlook and estimations from 2021 to 2031, which helps to recognize the prevalent opportunities.
• A thorough analysis of market trends and restraints is provided.
• Region-wise, as well as country-wise conditions, are broadly evaluated in this report.
• The forecasts in this report are made by examining the recent trends along with future veterinary surgical instruments market potential from 2021 to 2031 in terms of revenue.
• Porter’s five forces analysis, SWOT analysis, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the veterinary surgical instruments market are also analyzed.
• Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the global veterinary surgical instruments market.

Veterinary Surgical Instruments Market Segments

By Product

• Sutures & Staplers
• Forceps
• Scalpels
• Surgical Scissors
• Hooks & Retractors
• Trocars & Cannulas
• Electro-Surgery Instruments
• Others

By Animal Type

• Small & Medium Animals
• Large Animals

By Application

• Dental Surgery
• Orthopaedic Surgery
• Neurosurgery
• Ophthalmic Surgery
• Others

By End-user

• Veterinary Clinics
• Veterinary Hospitals
• Research Centers & Academia

By Region

• North America
• The U.S.
• Canada
• Mexico
• Europe
• UK
• Germany
• France
• Spain
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
• Rest of World
• Latin America
• Middle East
• Africa

Key Players

• Medtronic plc.
• B. Braun Vet Care
• Jorgen KRUSSE A/S (Henry Schein)
• Ethicon
• Sklar Surgical Instruments
• Jorgensen Labs
• Neogen Corporation,
• Vimian Group
• BMT Medizintechnik GmbH
• GerMedUSA

I work as a Healthcare analyst with Strategic Market Research, a market research firm dealing in syndicated, custom, and consulting services.