Veterinary Surgical Instruments Market
The veterinary surgical instruments market size value is estimated to reach USD 2.9 billion, growing at a CAGR of 6.9% during the forecast period 2023-2032.
The industry of animal healthcare has seen strong technological advances in the last two decades. Most of these new tools and procedures have been adopted from human medical practice. These advanced technologies have not only led to better treatments, but also faster and precise diagnosis. From Ultrasounds and MRIs to the Amplatz Canine Ductal Occluder, there are various new technologies that are giving veterinary specialists a greater ability to diagnose and ultimately save sick animals globally. New technologies such as Magnetic resonance imaging, Ultrasounds, Laparoscopy, Microfracture detection, 3-D printing and Recombinant DNA.
While various veterinary technologies are likely to effect the industry in 2016, the biggest advancement is probable going to be the ability to print 3D objects, this rapid-prototyping procedure has been used by veterinary specialists to create animal bone models from information collected by computed tomography scans. This procedure not only helps veterinarians educate pet owners about their pet’s medical treatment or condition, but it also helps veterinary specialists to gain a solid understanding of a pets internal bone or muscle structure before going in to operate.
Major Key Players:
Veterinary surgical instruments Market Players are Eickemeyer Veterinary Equipment Inc., Jørgen KRUUSE A/S, Surgical Holdings, Sklar Instruments, Whittemore Enterprises, Inc., Medtronics, B.Braun and others.
Segment Analysis
The global veterinary surgical instruments market is segmented on the basis of type, application, animal type, and region.
By type, the global veterinary surgical tools is segmented into scalpel handles, forceps, dressing and tissue forceps, scissors, needle holders and retractors. The scissors segment holds a dominant 21.4% share in the global veterinary surgical instruments market and is expected to remain in the leading position over the forecast period due to the ubiquitous usage of scissors in surgical operations.
By application, the global veterinary surgical instruments market is segmented into sterilization, orthopedic, ophthalmic, and dental. Dental holds the largest share in the global veterinary surgical instruments market, followed by ophthalmic.
By animal type, the global veterinary surgical instruments market is segmented into canines, felines, and large animals.
Regional Analysis
Key markets for veterinary surgical instruments across the world include Asia Pacific/APAC, Middle East and Africa/MEA and North America along with Europe.
The US, one of the most developed countries in North America, is the world leader, as a result of the supportive reimbursement scenario along with the presence of a well-organized dairy and meat industry. The increasing efforts taken by the renowned firms to upgrade their product range, while ensuing top-quality standards helps foster the growth of the veterinary surgical instruments market in the region. The surge in pet insurance has also been favorable for the regional market in recent years. Reports by North American Pet Health Insurance Association reveal that over 2.5 million pets in Canada and US had insurance as of 2018.
The second lead has been procured by the European market, while South American countries like Paraguay, Uruguay and Argentina are also observing significant growth in the global market. Rising chronic disorder cases among animals have boosted surgical intervention and motivated the market growth in these areas.
However, the most promising market for veterinary surgical instruments is APAC, with China and India emerging as the leaders. Growth in pet humanization combined with the mounting awareness with regard to animal welfare can be cited as the top contributing factors to the market growth in Asia Pacific. Japan is one of the fast advancing markets in the region, since the country observes high adoption rate of modern techniques like new diagnostic services along with surging geriatric pet populace.
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