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Veterinary Surgical Instruments Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

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  • 112 Pages
  • June 2022
  • Region: Global
  • Mordor Intelligence
  • ID: 5394083
UP TO OFF until Sep 30th 2022
The veterinary surgical instruments market is expected to register a CAGR of nearly 6.5% during the forecast period (2022-2027).

The decrease in the number of surgeries due to lockdowns and COVID-19 have impacted the growth of the studied market. The Health for Animals, Global Animal Health Association’s survey titled ‘Survey of Pet Owners Shows Impacts of Covid-19 Pandemic on Veterinary Care’ published in October 2020 reported that globally, nearly about 27% pet owners delayed or avoided contacting their veterinary practice since the start of the Covid-19 pandemic. The postponement of non-urgent veterinary work and attention only to the most urgent cases decreased the number of surgeries. Moreover, the COVID-19 pandemic situation resulted in a huge increase in the number of pet adoptions. For Instance, according to the People's Dispensary for Sick Animals (PDSA) PDSA Animal Wellbeing (PAW)report published in June 2021, 2 million people in United Kingdom has acquired pet between March 2020 to May 2021. Out of these pets, 10% are dogs, 8% are cats and 13% are rabbits. The rising adoption of pets has increased the focus on animal welfare which may fuel the growth of the studied market. Thus, due to the above stated factors, the studied market is expected to be impacted during the study period.

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 has been increasing worldwide, the demand for livestock has also been growing. Moreover, pet ownership of the world has also been 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 the market studied to grow in recent times.

The developed countries represent a significantly large share in companion animal ownership, owing to favorable economic conditions and several other factors. According to the 2021-2022 National Pet Owners Survey, conducted by the American Pet Products Association (APPA), around 70% of United States households own a pet, which equates to 90.5 millions homes, including 45.3 million cats and 69 million dogs. The same source also reports that the annual expenditure on routine visit for dogs accounts for USD 242, whereas it is 178 for cats in the country.

Also, with rising technological advancements and more expenditure on animal healthcare, devices and instruments have been becoming better, safer, and more precise. Adoption of key strategies to advance surgical care for animals will also boost the market. For instance, in April 2022, Orthomed entered into a partnership with Osso VR for bringing RoVR surgical training to the animal health market. This first-of-its-kind training technology allows for veterinarians to practice procedures anytime, anywhere in virtual reality (VR). Such technological integration will improve the efficiency of surgical procedures, hence increasing the number of surgeries performed, thus driving the market.

Thus, due to the above-mentioned factors, the studied market is expected to grow significantly during the study period. However, the increasing animal health cost and stringent regulations for approving such devices is acting as a restraining factor.

Key Market Trends

Electro-Surgery Instrument Segment is Expected to Register High CAGR Over 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 a 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 the increasing number of surgeries being done on animal owners being more cautious for surgeries that do not cause any pain post-surgery, this segment is expected to register high growth.

The rising research and development studies proving the efficiency of electrosurgery over other surgeries will further drive the market growth. For instance, the study "Supervised Autonomous Electrosurgery via Biocompatible Near-Infrared Tissue Tracking Techniques" published in November 2019 suggests that autonomous electrosurgery reduces surface incision error and depth incision error by 40.03% and 51.5%, respectively, compared to a teleoperation strategy via da Vinci. Thus, improvement in surgical outcomes through electrosurgery will increase its demand and instruments used in the procedure, thereby driving the market.

Electrothermal bipolar sealing devices (BSD) are widely used in veterinary and human surgery to seal tissue and achieve hemostasis. For instance, the study "Use of a bipolar sealing device to seal partial cystectomy with and without augmentation with a single-layer simple continuous suture pattern in an ex vivo canine model" published in July 2020 stated that partial cystectomies were effectively sealed with a BSD in this canine cadaveric bladder model. Such studies highlighting the efficacies of electrosurgery equipment in animals is driving the segment.

Thus, considering these factors, the market is expected to witness healthy growth over the forecast period.

North America Dominates the Market Over the Forecast Period

North America is Expected to dominate the studied market, owing to rising companion animal adoption, and increasing animal healthcare expenditure. The United States with the region is expected to retain its significant market share, owing to factors, like rising pet adoption and the increasing per capita animal healthcare expenditure. Additionally, the rise in the prevalence of various animal diseases and injuries has been identified as the major factor, fueling the market growth.

According to the Animal Cancer Foundation 2022, 65 million dogs and 32 million cats in the United States are diagnosed with cancer every year. Moreover, approximately 6 million new cancer diagnoses are made in pets every year. With increased ownership of pets and livestock, the United States citizens have also become more considerate toward the health of these animals. The expenditure on pets in the United States is also rising, which may propel market growth.

The launch of products that facilitate surgical procedures in the country and the adoption of key strategies suchas partnerships, investments, and expansion among others will also boost the market. For instance, in June 2021, Veterinary Instrumentation (Vi) expanded into the United States market. United States based veterinarians will have access to Vi’s extensive range of medical grade surgical instruments.

Thus, due to the above-mentioned factors, the studied market is expected to grow in the region during the study period.

Competitive Landscape

The studied market is consolidated and moderately competitive. The majority of the veterinary surgical instruments are being manufactured by the global key players. Market leaders with more funds for research and a better distribution system have established their position in the market studied. Major players in the market include Sklar Surgical Instruments, Integra LifeSciences, Medtronic, Steris, and B. Braun Melsungen AG among others.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support

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Table of Contents

1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing R&D Expenditure and Product Innovation for Animal Healthcare
4.2.2 Increasing Pet Ownership
4.2.3 Increasing Incidences of Zoonotic Diseases
4.3 Market Restraints
4.3.1 Increasing Cost of Pet Care
4.3.2 Stringent Regulatory Policies
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION (Market Size by Value - in USD Million)
5.1 By Product
5.1.1 Sutures and Staplers
5.1.2 Handheld Instruments
5.1.3 Electro-surgery Instruments
5.1.4 Other Products
5.2 By Animal
5.2.1 Comapnion Animals
5.2.2 Farm Animals
5.3 By Application
5.3.1 Soft- tissue surgery
5.3.2 Dental surgery
5.3.3 Orthopedic surgery
5.3.4 Ophthalmic surgery
5.3.5 Other Applications
5.4 Geography
5.4.1 North America United States Canada Mexico
5.4.2 Europe Germany United Kingdom France Italy Spain Rest of Europe
5.4.3 Asia-Pacific China Japan India Australia South Korea Rest of Asia-Pacific
5.4.4 Middle East and Africa GCC South Africa Rest of Middle East and Africa
5.4.5 South America Brazil Argentina Rest of South America
6.1 Company Profiles
6.1.1 B. Braun Melsungen AG
6.1.2 Kshama Surgical
6.1.3 Jorgen Kruuse A/S
6.1.4 Integra LifeSciences
6.1.5 Medtronic
6.1.6 Sklar Surgical Instruments
6.1.7 Smiths Medical
6.1.8 Steris
6.1.9 Génia SAS
6.1.10 GerVetUSA
6.1.11 Rajindra Surgical Industries
6.1.12 ShinMedico Inc.

Companies Mentioned

A selection of companies mentioned in this report includes:

  • B. Braun Melsungen AG
  • Kshama Surgical
  • Jorgen Kruuse A/S
  • Integra LifeSciences
  • Medtronic
  • Sklar Surgical Instruments
  • Smiths Medical
  • Steris
  • Génia SAS
  • GerVetUSA
  • Rajindra Surgical Industries
  • ShinMedico Inc.