About Veterinary Surgical Equipments
Veterinary Surgical Equipment is designed in a special way to perform surgical procedures on animals. The veterinary surgical equipment market has high growth prospects due to demand at veterinary surgical programs and complex surgeries. Factors such as increasing surgeries coupled with rising consumer spending on sterilization surgery, dental surgery and orthopedic surgery will provide a positive scope for the product penetration during the forecasted timeframe. According to the American Pet Products Association, 43% of dog owners and 41% of cat owners rely on online information. It seems that the market for veterinary surgical equipment markets looks promising. The major companies are adding more innovative techniques in Asia-Pacific countries as these countries are focused on the fastest-growing verticals for the animal's healthcare market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
CAGR | 6.8% |
The companies are exploring the market by adopting expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to avail a competitive advantage through combined collaborations. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Veterinary Surgical Equipments market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
B. Braun Vet Care GmbH (Germany), Medtronic Plc. (Ireland), Ethicon Inc. (United States), JORGEN KRUSSE A/S (Denmark), Jorgensen Laboratories (United States), Smiths Group Plc (United Kingdom), Neogen Corporation (United States), Integra LifeSciences Holdings Corporation (United States), STERIS Corporation (United States) and DRE Veterinary (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are GerMedUSA, Inc. (United States), Surgical Holdings (United Kingdom), Sklar Surgical Instruments (United States), World Precision Instruments, Inc. (United States), Surgical Direct (United States), Antibe Therapeutics Inc. (Canada) and iM3 (United States).
Segmentation Overview
AMA Research has segmented the market of Global Veterinary Surgical Equipments market by Type (Sutures, Staplers and Accessories, Handheld Devices {Forceps, Scalpels, Surgical Scissors, Hooks & Retractors, Trocars & Cannulas}, Electro-surgery Instruments and Others), Application (Soft Tissue Surgery, Sterilization Surgery, Gynecology & Urology Surgery, Dental Surgery, Orthopedic Surgery, Ophthalmic Surgery and Others) and Region.
On the basis of geography, the market of Veterinary Surgical Equipments has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by End Users, the sub-segment i.e. Hospitals will boost the Veterinary Surgical Equipments market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Animals, the sub-segment i.e. Companion Animals will boost the Veterinary Surgical Equipments market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rising Number of Veterinary Practitioners and Upsurge Demand for Pet Health Insurance
Market Growth Drivers:
Increasing Demand for Animal-Derived Products, Rapid Demand for Animal Health Expenditure and Growing Per Capita Expenditure in Emerging Countries
Challenges:
Stringent Government Medical and Surgical Devices Regulations and Irregular Pet Insurance Coverage in Developing Countries
Restraints:
Shortage of Skilled Veterians in Emerging Countries and High Cost Associated With Surgeries of Animals
Opportunities:
Technological Advancements in Veterinary Surgical Advancements Such As Surgeries Devices, Government Initiatives to Prevent Zoonotic Diseases and Surging Adoption of Companion Animals
Market Leaders and their expansionary development strategies
In September 2022, Veritas Veterinary Partners ("Veritas"), a national network of over 100 leading specialty and emergency veterinary care providers, announced today the acquisition of Veterinary Surgical Specialists ("VSS"). Terms of the transaction were not disclosed
In February 2023, TheraVet, a pioneering company in the management of osteoarticular diseases in pets, signed an exclusive distribution agreement with Vetpharma, a company in the marketing of veterinary products. This agreement represents a significant step forward for distributing the BIOCERA-VET product range, now available on five continents.
“According to Food, Drug, and Cosmetic Act (FDA), it recommends that manufacturers and distributors of veterinary medical devices request a review of their product labeling and promotional literature to ensure compliance with the act. This recommendation also applies to devices marketed in another country or imported into the US.”
Key Target Audience
Veterinary Surgical Equipment Manufacturers, Veterinary Surgical Equipment Provider, End-Use Market Participants of Different Segments of Veterinary Surgical Equipment, Government and Research Organizations, R&D Institutions and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.