Veterinary Surgical Instrument Market Size Share Research By Surging Business Opportunities Due To Incredible Demand For Pet Adoption | Grand View Research, Inc.

February 06 04:36 2020
Veterinary Surgical Instrument Market Size Share Research By Surging Business Opportunities Due To Incredible Demand For Pet Adoption | Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
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.

The global Veterinary Surgical Instrument Market size is expected to reach USD 1.33 billion by 2025, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 6.8% during the forecast period. Surging demand for pet adoption is estimated to drive the market during the forecast period. Increasing income in developing countries has also driven the market. For instance, according to a report by the American Veterinary Medical Association, in 2017, around 46.0% household had multiple types of pets in the U.S. Furthermore, key players implement strategies such as mergers and acquisitions to sustain in this competitive market. For instance, in 2014, Neogen Corporation acquired SyrVet Incorporated and Prima Tech Incorporated in a probe to expand its product portfolio.

Moreover, technological advancements in surgical devices and availability of a number of detection techniques are anticipated to create growth opportunities for the market. Some of these are micro fracture detection, laparoscopy, and 3D printing. For instance, in October 2016, Surgical Holdings launched reusable surgical instruments for general surgeries in an attempt to cut the cost of the instruments.

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North America Veterinary Surgical Instruments Market size, by animal type, 2014 - 2025 (USD Million)

Further key findings from the report suggest:

  • Handheld devices accounted for the largest revenue share in 2017, owing to their multipurpose use and ease of handling
  • On the basis of animal type, the small animal segment is projected to exhibit lucrative growth over the forecast period owing to growing incidence of pet adoption and surging demand for efficient care
  • Based on application, the dental surgery segment is poised to dominate the market throughout the forecast period due to increasing prevalence of periodontal diseases and rising demand for pet dental cure
  • North America held the dominant position in the global arena in 2017, due to favorable pet insurance policies and new product launch by companies. For instance, in February 2016, DRE Veterinary launched a new radiology unit named DRE Stationary DR X-ray System
  • Asia Pacific is anticipated to witness lucrative growth during the forecast period due to rising demand for pet adoption and growing income, especially in Japan and India
  • Some of the key companies in the market are Medtronic, DRE Veterinary, B. Braun Vet Care GmbH, and Jorgen Kruuse A/S.

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Global Veterinary Surgical Instruments Market share, by application, 2017 (%)

Grand View Research has segmented the global veterinary surgical instrument market on the basis of product, animal type, application, and region:

Veterinary Surgical Instrument Product Outlook (Revenue, USD Million, 2014 – 2025)

  • Handheld Devices
  • Forceps
  • Scalpels
  • Surgical Scissors
  • Hooks & Retractors
  • Others
    • Electrosurgery Instruments
    • Sutures, Staplers, and Accessories
    • Others

Veterinary Surgical Instrument Animal Type Outlook (Revenue, USD Million, 2014 – 2025)

  • Large animal
  • Small Animal

Veterinary Surgical Instrument Application Outlook (Revenue, USD Million, 2014 – 2025)

  • Soft Tissue Surgery
  • Cardiovascular Surgery
  • Ophthalmic Surgery
  • Dental Surgery
  • Orthopedic Surgery
  • Others

Key Topics Covered

Chapter 1 Report Scope

                 1.1 Segment Market Scope

                 1.2 Regional Scope

                 1.3 Estimates & Forecast Timeline

Chapter 2 Research Methodology

                 2.1 Model Details

                     2.1.1 Regression and variable analysis

                     2.1.2 Total addressable market (TAM)

                 2.2 Information Procurement

                 2.3 List Of Primary Sources

                     2.3.1 Purchased database:

                     2.3.2 GVR’s internal database

                 2.4 Primary Interview Breakup

                     2.4.1 Data for primary interviews, by sources

                     2.4.2 Data for primary interviews, by region

                 2.5 List Of Secondary Sources

Chapter 3 Report Objectives

                 3.1 Objectives


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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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