The size of the European veterinary surgical devices market was valued at USD 234.70 million in 2022. It is estimated to grow at a CAGR of 6.2% and be worth USD 317.06 million by 2027.
The European veterinary surgical devices market growth is majorly driven by the increasing companion animal population and growing concern regarding pets. The amount of pet owners, as well as the companion animal population, is on the rise. An estimated 88 million households in the European region own a pet. However, the energetic nature of pets may lead to injuries and wounds that need veterinary consultation for surgical treatments. Some of the most common surgical procedures performed in animals are hip dysplasia, cataract, neutering, and wound repair. As a result, the number of veterinary practitioners is also increasing. To help these veterinarians treat animals, surgical instruments have been manufactured and designed to perform specific actions during a surgery or operation. Over time, many kinds of surgical instruments and tools have been invented.
In addition, rising animal health expenditure, growing companion animal population coupled with pet insurance, and increasing individual awareness regarding animal health are expected to favor the growth of the European veterinary surgical devices market. Also, an increase in the number of veterinary practitioners and a rise in their income levels in developed regions will assist in the market's growth. Furthermore, the growing adoption of technological developments in producing veterinary surgical devices for safe surgeries for pets is further fuelling the market’s growth rate in the European region. Furthermore, with increasing zoonotic diseases such as rabies, west Nile virus, zoonotic influenza, and other significant disorders in animals, the government and key players have increased their investment in the manufacturing of veterinary surgical instruments, which help provide quality treatment to pets and livestock animals.
Furthermore, the increasing adoption of pet insurance and an increasing number of veterinary insurance providers in Europe are boosting regional market growth. Due to the increasing cost of veterinary surgeries, most pet owners are taking insurance policies to reduce the cost of significant surgeries for pets. By increasing the adoption of this insurance, insurance providers also provide different packages in the insurance policies, which demand the rise of surgical procedures, resulting in market growth.
Nevertheless, with a limited number of veterinarians in many developing regions, expensive pet care costs may hamper the market's growth. Additionally, increasing awareness among individuals in developing regions regarding animal health provides the great future potential for the market. The high cost of veterinary surgery is the primary factor restraining market growth. Additionally, the need for more skilled professionals to perform the surgeries impedes the market growth. Furthermore, extended time for the approval of the instruments and the need for more availability of veterinary clinics in some rural areas also challenge the Europe veterinary surgical instrument market growth.
This research report on the European veterinary surgical devices market has been segmented & sub-segmented into the following categories:
Geographically, the European region captured a considerable share of the worldwide market in 2021 and is expected to grow at a healthy pace during the forecast period due to increasing awareness about surgeries and infections among pets. In addition, an increasing number of pets suffering from gum disease results in dental surgeries, which is majorly fuelling regional market growth. As a result, pet owners seek a surgical procedure that helps repair the gum problem in pets.
The U.K. market is leading the European market, while Germany is second. Higher adoption rates and favorable reimbursement policies favored the dominance of the United Kingdom. Due to the increasing number of veterinary clinics in the region. Nearly 62% of households in the UK own a pet. Due to the increase in the adoption of pets, they also care more about the health of their pets by having regular check-ups and minor surgical operations if needed, such as dental problems, nail issues, hair, and others. In addition, increasing training centers for the usage of veterinary surgical instruments in the region also helps develop market growth.
Germany is expected to grow at the fastest CAGR due to increasing animal health awareness and livestock population. Product-wise, Sutures, Staples & accessories hold a major market share. Furthermore, due to the increasing demand for veterinary surgical instruments, they manufacture different types of instruments with different materials. As a result, Germany is the best exporter of veterinary surgical instruments to other countries, which demands market growth. Additionally, the increasing availability of surgical instruments on online sites promotes market growth in Germany.
KEY MARKET PLAYERS:
Companies playing a notable role in the Europe veterinary surgical devices market profiled in this report are B. Braun Vet Care GmbH, Medtronic Plc., Ethicon Inc., JORGEN KRUSSE A/S, Jorgensen Laboratories, Smiths Group Plc., Neogen Corporation, Integra LifeSciences Holding Corporation, STERIS Corporation, DRE Veterinary, GerMedUSA Inc., Surgical Holdings, Sklar Surgical Instruments, World Precision Instruments Inc. and Surgical Direct.
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