Veterinary Surgical Instruments Market Report

Veterinary Surgical Instruments Market Analysis Report By Animal (Large, Small), By Application, By Product (Electrosurgery Instruments, Handheld Devices, Sutures & Staplers), And Segment Forecasts, 2018 - 2025

  • Published Date: Dec, 2018
  • Base Year for Estimate: 2017
  • Report ID: GVR-2-68038-658-5
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2016
  • Number of Pages: 123

Industry Insights

The global veterinary surgical instruments market size was valued at USD 797.6 million in 2017 It is projected to witness a CAGR of 6.8% during the forecast period. Increasing demand for pet adoption and rising per capita income in developing countries are anticipated to accelerate the demand for surgeries for animals over the forecast period. As per a report by the American Veterinary Medical Association (AVMA) in 2017, around 68.0% household has pets in the U.S.

Increasing number of practitioners and technological advancements in devices are among the primary growth stimulants for the market. According to the American Veterinary Medical Association, a total of110,531 veterinary practitioners were present in the U.S. in 2017 as compared to 107,995 in 2016. Besides this, growing pet insurance coverage is estimated to help the market gain traction over the coming years.

North America Veterinary Surgical Instruments Market

Moreover, surging adoption of companion animals, increasing government initiatives to prevent zoonotic diseases, and product innovations are expected to spur the growth of the market. For instance, according to a report by the European External Action Service (EEAS) in 2016, the European government invested USD 4.7 million in animal healthcare expenditure.

Mounting cases of soft tissue injuries and trauma surgeries among pets have also been playing a vital role in the growth of the market. Pet owners are becoming increasingly conscious about their health and thus, investing more in animal healthcare. This, in turn, has been propelling the global market.

Product Insights

Handheld devices accounted for the largest revenue share in 2017. Handheld devices are further divided into scalpels, forceps, hooks & retractors, surgical scissors, and others. Technological advancements in devices and increasing expenditure on animal healthcare are likely to boost the growth of the segment. For instance, in 2017, U.S. pet owners spent USD 15.42 billion on veterinary surgeries, according to a report by AVMA.

The electrosurgery instrument segment accounted for the fastest growth during the forecast period due to advantages such as accuracy, easy handling, high sensitivity, and rapid healing by electrode pencils.

Animal type Insights

The large animal segment was the leading revenue contributor in the veterinary surgical instrument market in 2017 owing to increasing prevalence of chronic diseases of equine animals, rising awareness among government animal healthcare organizations, and growing animal healthcare spending in developing countries.WHO is engaging in various activities to address health threats at the human-animal-ecosystem interface including antimicrobial resistance, food-borne zoonoses, and food safety.This is poised to create a rise in the need for better treatment facilities for companion animals.

The small animal segment is projected to post lucrative growth during the forecast period due to increasing small animal ownership and spiraling demand for efficient animal care. According to the Humane Society of the United States, around 60.2 million U.S. household has at least one dog in 2017.

Application Insights

The dental surgery segment accounted for the largest revenue share in 2017 owing to increasing awareness among pet owners regarding dental health of their pets. Moreover, growing incidence of periodontal diseases and technological advancements in dental devices are estimated to contribute to the growth of the segment. According to a report by the Australian and American Veterinary Dental Societies, in 2017, more than 70.0% of cats and 80.0% of dogs developed gum diseases at the age of three.

Global Veterinary Surgical Instruments Market

The orthopedic surgery segment is expected to experience steady growth during the forecast period due to increasing number of animal hospitals and surging demand for orthopedic implants.According to AVMA, each U.S household spent USD 378 on dogs and USD 191 on cats on an average in 2017.

Regional Insights

North America dominated the market in 2017. Rising collective efforts by key players to improve their product portfolio and ensure high-quality standards are likely to boost the demand for veterinary surgical instruments across the region. For instance, in November 2014, STERIS Corporation entered into definitive agreement to acquire Integrated Medical Systems, Inc. along with two privately owned businesses, Spectrum Surgical Instrument Corp and Total Repair Express.In addition, rising demand for pet insurance has been bolstering the growth of the market. According to a report published by the North American Pet Health Insurance Association (NAPHIA), more than 2 million pets in the U.S. and Canada were under insurance plan in 2017.

Increasing demand for animal-derived food products and surging adoption of companion animals are poised to support the growth of the market in Asia Pacific over the forecast period. According to the Japan Pet Food Association (JPFA), the pet insurance market reached USD 450 million in March 2017, which was a 20.0% increase from 2016.

Veterinary Surgical Instruments Market Share Insights

The market is marked by presence of various small and large companies. The market is competitive in nature. It is dominated by participants such as B. Braun Vet Care GmbH, Medtronic, Jorgen Kruuse A/S, and SurgiVet. Other participants include Neogen and STERIS Instrument Management Services.

Market players are focusing on implementing new strategies such as mergers and acquisitions, regional expansion, new product launches, partnerships, and distribution agreements to increase their revenue share. For instance, in February 2016, DRE Veterinary launched a new radiology unit named DRE Stationary DR X-ray System. Furthermore, in February 2018, B. Braun Vet Care GmbH entered into a partnership with Dextera Surgical Inc., a manufacturer and developer of medical devices for surgical procedures.

Report Scope

Attribute

Details

Base year for estimation

2017

Actual estimates/Historical data

2014 - 2016

Forecast period

2018 - 2025

Market representation

Revenue in USD Million & CAGR from 2018 to 2025

Regional scope

North America, Europe, Asia Pacific, Latin America, MEA

Report coverage      

Revenue forecast, company share, competitive landscape, growth factors and trends

Country Scope

U.S., Canada, Germany, U.K., Japan, China, India, Brazil, Mexico, South Africa

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global veterinary surgical instruments market report on the basis of product, end use, and region:

  • Product Outlook (Revenue, USD Million, 2014 - 2025)

    • Handheld Devices

      • Forceps

      • Scalpels

      • Surgical Scissors

      • Hooks & Retractors

      • Others

    • Electrosurgery Instruments

    • Sutures, Staplers, and Accessories 

    • Others

  • Animal Type Outlook (Revenue, USD Million, 2014 - 2025)

    • Large animal

    • Small Animal

  • Application Outlook (Revenue, USD Million, 2014 - 2025)

    • Soft Tissue Surgery 

    • Cardiovascular Surgery

    • Ophthalmic Surgery

    • Dental Surgery 

    • Orthopedic Surgery

    • Others

  • Regional Outlook (Revenue, USD Million, 2014 - 2025)

    • North America

      • U.S.

      • Canada

    • Europe

      • U.K.

      • Germany

    • Asia Pacific

      • China

      • India

    • Latin America

      • Brazil

      • Mexico

    • Middle East & Africa

      • South Africa 

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