Veterinary Surgical Instruments Market Is Expected To Reach US$ 1,336.9 Mn by 2026| Credence Research
October 15, 2019 by Johnson Paul
The latest market report published by Credence Research, Inc. “Global Veterinary Surgical Instruments Market By Product (Handheld Devices, Electrosurgery Instruments, Sutures & Staplers and Others), By Application (Cardiovascular Surgery, Soft Tissue Surgery, Dental Surgery, Ophthalmic Surgery, Orthopedic Surgery and Others) - Growth, Future Prospects, Competitive Analysis, 2018 - 2026,” the global veterinary surgical instruments market was valued at US$ 728.5 Mn in 2017, and is expected to reach US$ 1,336.9 Mn by 2026, expanding at a CAGR of 7.0% from 2018 to 2026.
Zoonotic diseases are a threat to human lives as we are completely dependent on veterinary animals from food to manual labor. Significant increase in the number of veterinary hospitals and practitioners worldwide and technological advancement in the surgical tools drive the veterinary surgical instruments market. Affordable reimbursement scenario and pet adoption further propel the veterinary surgical instruments market growth.
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Handheld devices are leading the product segment for veterinary surgical instruments market. Availability at low cost and rampant increase in animal surgeries worldwide drive the handheld devices market growth. Electrosurgery instruments is gaining popularity on account of its inherent features such as high accuracy, ease of handling and rapid healing by employing electrode pencils in performing sensitive surgical procedures of innate organs.
Dental surgery are reigning the application segment for veterinary surgical instruments market. Increasing cases of dental deformities in veterinary animals such as gingivitis and periodontitis. Lack of oral hygiene and presence of mineral in saliva further deteriorate dental health in animals. Technological advancement in dental devices further boost the dental surgery market growth. Orthopedic surgery will be the growing at a rapid pace during the forecast period owing to rising incidence of musculoskeletal disorder in farm cattle and significant increase in violent behavior towards companion animals.
North America is currently the supreme leader in global veterinary surgical instruments market with 40% share. Rising prevalence of zoonotic disease and increasing public health awareness regarding veterinary animals drive the market growth in North America region. Existence of key players such as Medtronic Plc., Ethicon, Inc., DRE Veterinary etc. further consolidate the market growth in North America region. Europe with a share of 30% is at second position owing to favorable reimbursement for veterinary animals and significant adoption of pet animals. Asia Pacific represents 15% market share owing to rising prevalence of foot and mouth disease and proactive government policies to support veterinary health.
Medical device companies manufacturing veterinary surgical instruments are Antibe Therapeutics, Inc., Neogen Corporation, B.Braun Vet Care GmbH, Medtronic, Plc., DRE Veterinary, Jorgen Kruuse A/S, Ethicon, Inc., , Smiths Group, Plc., Integra Lifesciences Holding Corporation and Surgical Holdings.
Key Market Movements:
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Report Scope by Segments
By Product (2016–2026; US$ Mn)
By Application (2016–2026; US$ Mn)
By Geography Segment