17-May-2024

Veterinary Surgical Instruments Market Forecasted to Grow at a CAGR of 6.4% Through 2033

The Veterinary Surgical Instruments Market is projected to expand significantly, with an expected market size of USD 2.2 billion by 2033, up from USD 1.2 billion in 2023, reflecting a compound annual growth rate (CAGR) of 6.4% during the forecast period from 2024 to 2033. This growth is driven by several key factors including the increasing adoption of pets, rising veterinary surgical procedures, and advancements in surgical technologies.

A significant driver of this market is the growing pet population and increasing awareness of animal health. For example, the number of pet-owning households in the U.S. rose to 66% in 2023, which has boosted the demand for veterinary care, including surgical interventions. Technological advancements, particularly in electrosurgery instruments known for their precision and reduced trauma, are also contributing to market growth. These instruments minimize blood loss and enhance surgical outcomes, making them increasingly popular among veterinary surgeons.

Challenges in the market include the high costs associated with veterinary surgical procedures, which can limit access to these services and reduce the frequency of surgeries. Regulatory constraints and economic factors also pose significant challenges, potentially hindering market expansion.

Recent developments in the market include strategic partnerships and acquisitions aimed at expanding product portfolios and market reach. For instance, the acquisition of product portfolios by Vimian Group in 2022 and the exclusive distribution agreement by TheraVet in 2023 highlight the industry’s dynamic nature and the ongoing efforts to innovate and improve veterinary surgical care.

Key Takeaways

The Veterinary Surgical Instruments Market is projected to grow from USD 1.2 billion in 2023 to USD 2.2 billion by 2033, at a CAGR of 6.4%.
Handheld devices led the product segment in 2023, capturing over 38% of the market due to their essential role in surgeries.
The large animal segment dominated in 2023, making up over 52% of the market, driven by increased focus on livestock health.
Electrosurgery instruments saw significant adoption, reflecting a trend towards advanced surgical methodologies in veterinary care.
In 2023, 66% of U.S. households owned pets, contributing to a veterinary care and product sales revenue of $38.3 billion.
The high costs associated with veterinary surgical procedures present a significant restraint, potentially limiting access and frequency of surgeries.
Advancements in minimally invasive and laser surgeries offer growth opportunities by improving outcomes and recovery times for animals.
North America led the global market in 2023 with a 37.7% share, fueled by high pet ownership rates and advanced healthcare infrastructure.

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Veterinary Surgical Instruments Market Key Segments

Product

Handheld Devices
- Forceps
- Scalpels
- Surgical Scissors
- Hooks & Retractors
- Others
Electrosurgery Instruments
Sutures
Staplers
Other Products

Animal Type

Large Animal
Small Animal

Application

Soft Tissue Surgery
Cardiovascular Surgery
Ophthalmic Surgery
Dental Surgery
Other Applications

Key Regions

North America (The US, Canada, Mexico)
Western Europe (Germany, France, The UK, Spain, Italy, Portugal, Ireland, Austria, Switzerland, Benelux, Nordic, Rest of Western Europe)
Eastern Europe (Russia, Poland, The Czech Republic, Greece, Rest of Eastern Europe)
APAC (China, Japan, South Korea, India, Australia & New Zealand, Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam, Rest of APAC)
Latin America (Brazil, Colombia, Chile, Argentina, Costa Rica, Rest of Latin America)
Middle East & Africa (Algeria, Egypt, Israel, Kuwait, Nigeria, Saudi Arabia, South Africa, Turkey, United Arab Emirates, Rest of MEA)

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Key Players Analysis

Medtronic Plc, renowned for its medical devices, has extended its expertise to the veterinary surgical instruments market. The company has strategically partnered with GerMedUSA to enhance its distribution network, allowing for a broader reach in veterinary practices. This collaboration enables Medtronic to provide advanced surgical instruments that are crucial for various veterinary procedures, including minimally invasive surgeries. The company’s strong reputation for quality and innovation positions it as a key player in the veterinary surgical instruments sector.

B. Braun SE is a significant contributor to the veterinary surgical instruments market, leveraging its extensive experience in medical and surgical equipment. Known for its precision and reliability, B. Braun offers a diverse range of instruments tailored to meet the specific needs of veterinary surgeons. The company’s commitment to advancing surgical technology ensures that veterinary practices can perform procedures with enhanced accuracy and safety, thereby improving surgical outcomes for animals.

Neogen Corporation specializes in animal safety and diagnostics, playing a pivotal role in the veterinary surgical instruments market. The company offers a wide array of surgical tools designed to enhance the efficiency and effectiveness of veterinary surgeries. Neogen’s products are integral in ensuring high standards of animal care, supporting veterinarians in performing complex procedures with greater ease. Their focus on innovation and quality makes Neogen a trusted name in the industry.

GerMedUSA is recognized for its high-quality surgical instruments and has established itself as a reliable provider in the veterinary sector. The company’s instruments are known for their durability and precision, making them a preferred choice among veterinarians. GerMedUSA’s collaboration with Medtronic has further strengthened its market presence, allowing for a wider distribution of its advanced surgical tools. This partnership highlights GerMedUSA’s commitment to enhancing veterinary surgical practices through superior instrumentation.

Surgical Holdings is a leading manufacturer of surgical instruments, including those used in veterinary medicine. The company offers an extensive product range that caters to the diverse needs of veterinary surgeons. Surgical Holdings is dedicated to maintaining high standards of quality and innovation, ensuring that their instruments facilitate effective and efficient veterinary procedures. Their reputation for excellence makes them a significant player in the veterinary surgical instruments market.

Veterinary Surgical Instruments Market Key Players:

Medtronic Plc
B. Braun SE
Neogen Corporation
GerMedUSA
Surgical Holdings
Sklar Surgical Instruments
Integra LifeSciences
Ethicon US LLC
Jorgen Kruuse A/S
DRE Veterinary
World Precision Instruments

Veterinary Surgical Instruments Market Report Scope >> Market Value (2023): USD 1.2 Billion || Forecast Revenue (2033): USD 2.2 Billion || CAGR (2024-2033): 6.4% || Base Year Estimation: 2023 || Historic Period: 2019-2022 || Forecast Period: 2024-2033.

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