Veterinary Surgical Instruments Market Is Rising Amid Uncertain Economic Outlook: Understand Market Trends, Share, Growth, Overview and Forecast 2023

Research Reports

Jan 22, 2021

Primary Drivers and Barriers

The spike in surgeries among pets in emerging countries in recent years has led to significant market growth across the world. Some of the most common surgical procedures among pets include cataract, dental, spay or neuter, wound repair and hip dysplasia. The market growth has also been the outcome of the dramatic surge in the number of practitioners worldwide and the high frequency of technological innovations with regard to these instruments. Some other factors promoting the market growth include the accelerated demand for health insurance of animals, rising adoption of companion animals, and surge in government initiatives against zoonotic diseases.

The growing cases of periodontal issues in pets combined with the escalating demand for better quality treatment options has also driven the demand for veterinary surgeries and in turn, the need for advanced veterinary surgical instruments.

Market Insight

The veterinary surgical equipment market 2020 is all set to touch USD 2760.6 million by 2023, claims Market Research Future (MRFR). The market’s growth is anticipated to be at a rate of 6.3% from 2017 to 2023 (evaluation period). We will provide COVID-19 impact analysis with the report, along with all the extensive key developments in the market post the coronavirus disease outbreak.

Health conditions with regard to obesity among animals have risen in recent times, including heart diseases, osteoarthritis, diabetes and dental problems. Most of these require surgeries, which translates into higher demand for effective surgical instruments. Noteworthy breakthroughs in the veterinary field and surgical instruments like in prosthetics and orthotics along with microfracture detection technology in racehorses has benefitted the market to a large extent. In addition, the increasing uptake of simulation models for orthopedic surgeries has bolstered the demand for surgeries for the mentioned conditions.

Regional Study

Key markets for veterinary surgical instruments across the world include Asia Pacific/APAC, Middle East and Africa/MEA and North America along with Europe.

The US, one of the most developed countries in North America, is the world leader, as a result of the supportive reimbursement scenario along with the presence of a well-organized dairy and meat industry. The increasing efforts taken by the renowned firms to upgrade their product range, while ensuing top-quality standards helps foster the growth of the veterinary surgical instruments market in the region. The surge in pet insurance has also been favorable for the regional market in recent years. Reports by North American Pet Health Insurance Association reveal that over 2.5 million pets in Canada and US had insurance as of 2018.

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The second lead has been procured by the European market, while South American countries like Paraguay, Uruguay and Argentina are also observing significant growth in the global market. Rising chronic disorder cases among animals have boosted surgical intervention and motivated the market growth in these areas.

Segmental Insight

Type, application, and animal are the top segments based on which the market has been categorized in the MRFR report.

The veterinary surgical instruments industry, depending on types, can be considered for forceps, scalpel handles, scissors, dressing, retractors and needle holders. The market for scissors has remained dominant since 2016, with the needle holders market coming in second.

Some of the top applications covered in the study include sterilization, orthopedic, dental and ophthalmic. Dental application is the largest in the market, trailed by the ophthalmic segment.

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