A new market study, “Global Veterinary Surgical Instruments Market By Upcoming Trends, Growth Drivers and Challenges” has been featured on WiseGuyReports.
PUNE, MAHARASHTRA, INDIA, December 12, 2019 /EINPresswire.com/ —
Veterinary Surgical Instruments Market – 2018-2026
Veterinary Surgical Instruments Market
Veterinary Surgical Instruments are used to perform surgery on animals. This market has been on the rise in recent times, especially in developed countries. As the human population is increasing worldwide, the demand for livestock is also growing. Moreover, pet ownership of the world is also growing. But, an increasing number of livestock and pet animals increases the risk of livestock being infected by infectious disease. Some of these diseases also fall under zoonotic diseases that may cause harm to human beings too. This factor has helped this market to grow in recent times. Also, with technological advancements and more expenditure on animal healthcare, devices and instruments are becoming better, safer, and more precise.
However, still, the animal health cost might be a burden on many due to expensive procedure costs. This factor acts as a restraining factor for this market. Also, as the authorities are stringent for approving such devices, this not only increases the cost of the device production but also dissuades companies to enter this market, hence acting as a restraining factor.
The global veterinary surgical instruments market size was valued at USD 797.6 million out of 2017 It is anticipated to observe a CAGR of 6.8% during the figure time frame. Increasing interest in pet selection and rising per capita income in developing countries are foreseen to accelerate the interest for medical procedures for animals over the estimate time frame. According to a report by the American Veterinary Medical Association (AVMA) in 2017, around 68.0% of the household has pets in the U.S.
Top Key Players Of Veterinary Surgical Instruments Industry:
Braun Vet Care GmbH
Jorgen Kruuse A/S
Smiths Group PLC.
Integra Lifesciences Holdings Corporation
Germed USA, Inc.
Sklar Surgical Instruments
Antibe Therapeutics Inc.
World Precision Instruments
Scope of the Report
As per the scope of the market, Veterinary Surgical Instruments are used to perform surgery on animals. In the report, a detailed analysis of the Veterinary Surgical Instruments Market is provided. The market is evaluated by collating revenues generated across segments, categorized by product, animal type, application and geography.
Besides, flooding selection of companion animals, increasing government activities to avert zoonotic maladies, and item developments are relied upon to goad the development of the market. For example, according to a report by the European External Action Service (EEAS) in 2016, the European government invested USD 4.7 million in animal healthcare use
Key Market Trends | Growth | Share | Sale | Revenue | Manufactures | Technology Component
Electro-surgery Instrument segment is expected to register high CAGR in the forecast period
Electro-surgery in the field of veterinary healthcare, often preferred more than the conventional methods, as it can be used instead of scalpel to cut soft tissues, with the goal of reducing hemorrhage and with better precision. Electro-surgical units involve the use of electric current passing from a device through the patient and back to the generator. The effect may be to cut tissue, coagulate vessels, or destroy (fulgurate) the tissue. Also, Electro-surgery has been proven to cause less to no damage to sensitive tissues in close proximity. This helps avoid inconveniences post-surgery.
With increasing number of surgeries being done on animals owners being more cautious for surgeries that do not cause any pain post-surgery, this segment is expected to register a high growth.
North America dominates the market
The rising companion animal adoption, and increasing animal healthcare expenditure attribute to the large market share of the United States, and is expected to retain its dominance over the forecast period. Sixty-eight percent of US households, or about 85 million families, own a pet, according to the 2017-2018 National Pet Owners Survey conducted by the American Pet Products Association (APPA). The survey also reveals that the total US expenditure on pets has been approximately USD 69,400 Million, in 2017. North American countries like US and Canada also emphasize on establishing proper skills among veterinary surgeons. These efforts have helped this market to dominate and make it lucrative for global players.
Mounting instances of soft tissue wounds and injury medical procedures among pets have also been playing a vital role in the development of the market. Pet proprietors are becoming increasingly conscious about their health and therefore, investing more in animal healthcare. This, thusly, has been propelling the global market.
Handheld devices accounted for the largest income share in 2017. Handheld devices are additionally separated into scalpels, forceps, snares and retractors, surgical scissors, and others. Technological headways in devices and increasing consumption on animal healthcare are likely to help the development of the fragment. For example, in 2017, U.S. pet proprietors spent USD 15.42 billion on veterinary medical procedures, according to a report by AVMA.
The small animal fragment is anticipated to post lucrative development during the gauge time frame because of increasing small animal possession and spiraling interest for proficient animal consideration. According to the Humane Society of the United States, around 60.2 million U.S. household has at any rate one pooch in 2017.
The significant players working in this market include STERIS, plc, DRE Medical, Inc., B. Braun Vet Care GmbH, DRE Medical, Inc, World Precision Instruments Inc., Surgical Holdings, Neogen Corporation, Integra LifeSciences Corporation, Antibe Therapeutics Inc., and Germed USA Inc.
Majority of the Veterinary surgical instruments are being manufactured by the global key players. Market leaders with more funds for research and better distribution system have established their position in the market. Moreover, Asia-pacific is witnessing an emergence of some small players due to the rise of awareness, which has helped the market grow hence increasing market.
Table of Content: Veterinary Surgical Instruments Market 2026
1 Study Coverage
2 Executive Summary
3 Breakdown Data by Manufacturers
4 Breakdown Data by Type
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Source: EIN Presswire