The Veterinary Surgical Devices Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report the Veterinary Surgical Devices Market is estimated to be USD 748 million in 2016 and predicted to rise to USD 1.029 billion by 2021 with a CAGR of 6.6%. The market is segmented by Products (Sutures, Foreceps, Scissors, Electrosurgery Instruments, Cannulas, Staplers and accessories, others), by Animals (Canines, Felines, Large Animals), by Application (Soft tissue, Sterilization, Gynecology, Orthopedic Surgery). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.
The primary driving factors for the growth of market are increasing individual awareness regarding animal health, growing companion animal population coupled with pet insurance, rising animal health expenditure. Also increase in number of veterinary practitioners, rise in their income levels in developed regions is going to assist in growth of the market. But, factors like shortage of veterinarians in many developing regions, high pet care costs may hamper the growth of market. Also, increasing awareness among individuals in developing regions regarding animal health provides great future potential for the market.
Product wise Sutures, Staples & accessories are holding major share in the market. With the increasing companion animal population and growing concern regarding pets the market is growing at a rapid pace. High pet adoption adoption rate and favourable reimbursement policies in developed countries favoured the growth of market.
North America is leading the market while Europe is at second place. Higher adoption rate and favourable reimbursement policies favoured the dominance of North America. Asia-Pacific is expected to grow at the fastest CAGR due to increasing awareness regarding animal health and increasing livestock population.
Some of the key players dominating this market include 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., Surgical Direct..
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