The veterinary surgical instruments market is expected to witness significant growth in the coming years, with a growing demand for pet insurance and rising animal health expenditure, growing companion animal market and increasing veterinary practitioners in the developed economies. The global market is projected to reach USD 1,029.0 Million by 2021 from USD 748.4 Million in 2016, at a CAGR of 6.6% from 2016 to 2021. However, shortage of skilled veterinarians in the developing economies and lack of animal health issues awareness in emerging markets may hinder the growth of this market to a certain extent.
Factors such as rising animal health expenditure and pet insurance, growing companion animal market, growing demand for animal-derived food products, increasing number of veterinary practitioners and their income levels in developed regions are the primary growth drivers for the global market. However, shortage of skilled veterinarians in the developing economies and lack of animal health issues awareness in emerging markets may hinder the growth of this market to a certain extent. Emerging markets such as China, India, and Brazil offer significant opportunities for the growth of market. Lack of animal health awareness and shortage of veterinarians in emerging countries are the major market challenges.
In 2015, North America dominated the veterinary surgical instruments market followed by Europe, Asia-pacific, and Rest of the World. Increasing number of companion animals, rising animal healthcare expenditure, increasing awareness about animal diseases, growing number of veterinary practitioners and their income levels, and growth in the pet insurance market are factors driving the growth of this market. On the other hand, the Asia-Pacific (APAC) region is expected to witness the highest growth rate during the forecast period. This can be mainly attributed to the rising livestock population, growing pet adoption, increasing awareness about animal health, progressive urbanization, and growing per capita animal health expenditure in this region.
Antibe Therapeutics Inc.
B. Braun Vet Care GmbH
Integra LifeSciences Holdings Corporation
JORGEN KRUSSE A/S
Sklar Surgical Instruments
Smiths Group Plc
World Precision Instruments Inc.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Insights
7 Veterinary Surgical Instruments Market, By Product
8 Global Veterinary Surgical Instruments Market, By Type of Animal
9 Global Veterinary Surgical Instruments Market, By Application
10 Veterinary Surgical Instruments Market, By Geography