Veterinary Surgical Instruments Market Size, Share & Trends Analysis Report By Product (Handheld Devices, Electrosurgery Instruments), By Animal Type, By Application (Soft Tissue Surgery, Cardiovascular Surgery), By Region, And Segment Forecasts, 2023 - 2

Veterinary Surgical Instruments Market Size, Share & Trends Analysis Report By Product (Handheld Devices, Electrosurgery Instruments), By Animal Type, By Application (Soft Tissue Surgery, Cardiovascular Surgery), By Region, And Segment Forecasts, 2023 - 2030

Veterinary Surgical Instruments Market Growth & Trends

The global veterinary surgical instruments market size is expected to reach USD 1.91 billion by 2030, according to a new report by Grand View Research, Inc., registering a CAGR of 7.3% from 2023 to 2030. Growing demand for pet adoption is expected to drive the market over the forecast period. Increasing income in developing countries is another driving factor. For instance, according to a report by the American Veterinary Medical Association (AVMA) in 2017, around 46.0% of households had multiple types of pets in the U.S. Furthermore, key players are implementing newer strategies to sustain in this competitive market. For instance, in March 2019, Bruhat Bengaluru Mahanagara Palike (BBMP) in India planned to introduce a rescue ambulance to rescue injured animals for faster treatment. The ambulance will be equipped with all the necessary tools such as surgical instruments and sterilizers.

Moreover, technological advancements in surgical devices and the availability of a number of detection techniques are anticipated to create growth opportunities in the market. These include microfracture detection, laparoscopy, and 3D printing. For instance, in October 2017, Surgical Holdings launched two new product-chisels and osteotomes-to expand its product portfolio.

The global Veterinary Surgical Instruments market is highly competitive in nature. It is dominated by participants such as B. Braun Vet Care GmbH, Medtronic, Jorgen Kruuse A/S, and SurgiVet. Market players focus on adopting strategies such as new product launches, partnerships, and collaborations. For instance, in July 2018, B. Braun Vet Care signed an agreement to deal with CP Medical wherein the company will distribute B. Braun’s veterinary Infusion Therapy product line in the U.S. and Canada.

Veterinary Surgical Instruments Market Report Highlights

• An increasing number of veterinary practitioners are anticipated to create growth opportunities in the market
• Handheld devices accounted for the largest share in 2022, owing to their use for multiple purposes and ease of handling
• The small animal segment is expected to exhibit lucrative growth over the forecast period owing to rising incidences of pet adoption and increased demand for efficient care
• The dental surgery segment held the largest share in 2022 due to the increasing prevalence of periodontal diseases and rising demand for pet dental care
• North America dominated the global market in 2022 due to favorable pet insurance policies and new product launches by companies. However, Asia Pacific is anticipated to exhibit the most lucrative growth rate over the forecast period owing to the rising demand for pet adoption and increasing disposable income, particularly in Japan and India

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