Global Veterinary Surgical Instruments Market Report – Size & Growth at a CAGR of around 34.4% by 2028 by ZMR
Global Veterinary Surgical Instruments Market Industry Overview, Global Size, Share, Revenue, Trends, Statistics, and Services Analysis Forecast 2022-2028
SUITE N202, FLORIDA, UNITED STATES, September 12, 2022 /EINPresswire.com/ — Zion Market Research has published a new report titled Veterinary Surgical Instruments Market by Product (Handheld Devices, Electro-surgery Instruments, Staplers, Sutures, & Accessories, and Others), Animal Type (Large Animals and Small Animals), and Application (Sterilization Surgery, Soft Tissue Surgery, Urology & Gynecology Surgery, Orthopedic Surgery, Ophthalmic Surgery, Dental Surgery, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2019 – 2025 According to the report, global demand for veterinary surgical instruments market was valued at approximately USD 1,302.8 Million in 2018 and is expected to generate revenue of around USD 1,842.2 Million by end of 2025, growing at a CAGR of around 5.2% between 2019 and 2025.
Veterinary surgery is a surgical procedure performed on animals by veterinary surgeons. Veterinary surgical procedures can be categorized into three broad types: soft tissue surgery, orthopedics, and neurosurgery. A comprehensive variety of surgical instruments are used by veterinary surgeons to perform different procedures. Scalpels, forceps, hooks & retractors, surgical scissors, and cannulas & trocars are some of the widely used veterinary surgical instruments.
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Factors such as the growing number of companion animals, increasing demand for pet insurance, increasing awareness regarding animal health, and technological advancements will act as major driving factors in the growth of the global veterinary surgical instruments market. Growing demand from developing regions and initiatives taken by the government and non-governmental organizations will act as an opportunity for the market players in the veterinary surgical instruments market. Nonetheless, the high cost of surgical procedures, the dearth of skilled veterinary surgeons, and the lack of awareness in low-income countries will restrict the growth of the global veterinary surgical instruments market.
The global veterinary surgical instruments market has been split into the product, animal type, and application. Based on product, the veterinary surgical instruments market has been segmented into handheld devices, electro-surgery instruments, staplers, sutures, & accessories, and others. The staplers, sutures, & accessories segment accounted for the highest market share in 2018 due to the growing number of veterinary surgeries, and rising awareness regarding the use of sutures. The handheld devices segment has been divided into scalpels, forceps, hooks & retractors, surgical scissors, and cannulas & trocars. The animal type segment has been segmented into large animals and small animals. The application segment has been segmented into sterilization surgery, soft tissue surgery, urology & gynecology surgery, orthopedic surgery, ophthalmic surgery, dental surgery, and others. The sterilization surgery segment accounted for the highest market share in 2018 due to the high number of sterilization surgeries performed globally.
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Regionally, the veterinary surgical instruments market is segmented into North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa. North America will be the leading region during the forecast period. A growing quantity of companion animals, and growing animal healthcare spending will boost the market growth in this region. Europe will be the succeeding largest market. The main reasons are the existence of skilled veterinarians and a rise in awareness regarding animal diseases. The Asia Pacific will proliferate at a speedy frequency over the estimated period due to the high livestock population, progressive urbanization, increasing adoption of pets, and increasing per capita animal expenditure. The Latin American market will develop at a significant rate during the forecast period. Africa and Middle Eastern countries are likely to experience noticeable growth in the projected time frame.
The report also includes detailed profiles of key players such as Medtronic Plc., B. Braun Vet Care GmbH, Ethicon Inc., GerMedUSA, Inc., Jorgensen Laboratories, JORGEN KRUSE A/S, Smiths Group Plc, STERIS Corporation, Integra LifeSciences Holdings Corporation, and Neogen Corporation, among others.
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This report segments the Global Veterinary Surgical Instruments Market as follows:
Global Veterinary Surgical Instruments Market: By Product
Handheld Devices
Scalpels
Forceps
Hooks & Retractors
Surgical Scissors
Cannulas & Trocars
Electro-surgery Instruments
Staplers, Sutures, & Accessories
Others
Global Veterinary Surgical Instruments Market: By Animal Type
Large Animals
Small Animals
Global Veterinary Surgical Instruments Market: By Application
Sterilization Surgery
Soft Tissue Surgery
Urology & Gynecology Surgery
Orthopedic Surgery
Ophthalmic Surgery
Dental Surgery
Others
Growth Agents
The growing elderly population, rising healthcare expenses, and technical developments in medical equipment are the primary factors driving the global market for veterinary surgical instruments. The demand for veterinary surgical instruments is anticipated to rise in the near future due to rising health consciousness among people and an increase in the number of patients diagnosed with chronic diseases like diabetes, cardiac disorders, and respiratory ailments. Globally, the number of elderly individuals is rising quickly. Chronic conditions like diabetes are more common in the elderly population. The veterinary surgical instruments market is then anticipated to increase as a result. The expansion of the veterinary surgical instruments market, however, may be hampered in the near future by shifting reimbursement practices and constrained insurance coverage. Over the next several years, attractive new opportunities for market expansion are anticipated to be opened by the rapid job growth in the veterinary surgical instruments market.
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Preliminary Segment Analysis
The therapeutic veterinary surgical instruments market, medical supplies, home mobility aids devices, diagnostics and monitoring home devices, and therapeutic veterinary surgical instruments market segments have been created based on product categories. Blood pressure monitors, pregnancy test kits, heart rate monitors, temperature monitors, and other instruments are examples of diagnostic and monitoring devices. The market for veterinary surgical tools was dominated by diagnostic and monitoring devices in terms of revenue in 2020, and this trend is anticipated to continue over the course of the forecast period.
The market for veterinary surgical instruments’ second-largest product category, medical supplies, accounted for 5.2% of global demand in 2020. Additionally, it is anticipated to expand at the fastest rate during the projection period. In contrast, the market for home mobility aids held a lesser share of the global veterinary surgical instruments in 2020.
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Kajal Rupnar
Zion Market Research
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