U.S. Veterinary Surgical Instruments Market to Hit $660 Million by 2025: Global Market Insights, Inc.
SELBYVILLE, Del., October 2, 2019 (Newswire.com) - The United States veterinary surgical instruments market projected to cross USD 660 million by 2025; according to a new research report by Global Market Insights, Inc. Growing adoption of pets and rising awareness about animal healthcare will be a major factor driving the market growth. Increasing adoption of advanced healthcare facilities for companion and livestock animals has encouraged owners to spent hefty amount for their wellbeing. According to the National Association of Insurance Commissioners, in 2017, 68% of families in the U.S. reported owning a pet, due to changing economic condition of pet owners and high disposable income.
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Rising prevalence of zoonotic diseases and growing pet healthcare concerns will result in lucrative growth of the market. Increasing awareness about food borne diseases and various health threats to animals has triggered a wave of concern among owners. Moreover, there is an increasing demand for surgical procedures and veterinary visits in the U.S. This has led to increasing adoption of advanced surgical instruments among the veterinarians, thereby boosting the market growth across the forecast timeframe.
High cost associated with veterinary surgeries in the U.S. may hamper the growth of market. Common pet surgery may vary from USD 3,000 to 5,000 based on the type of surgery performed. Hence, high cost of surgeries may have a negative impact on the market.
Browse key industry insights spread across 75 pages with 41 market data tables & 12 figures & charts from the report, “U.S. Veterinary Surgical Instruments Market Size By Product (Sutures & Staplers, Forceps, Scalpels, Surgical Scissors, Hooks & Retractors, Trocars & Cannulas, Electro-surgery Instruments), By Animal Type (Small & Medium Animals, Large Animals), By Application (Dental Surgery, Orthopedic Surgery, Neurosurgery, Ophthalmic Surgery), By End-use (Veterinary Clinics, Veterinary Hospitals, Research Centers & Academia), Type Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2025” in detail along with the table of contents:
Surgical scissors are estimated to witness lucrative growth of 4.0% across the projected timeframe. High growth is attributed to increasing utilization of surgical scissors in various aspects including medical surgeries and research applications. Also, these scissors are available in different shapes and sizes for several surgical approaches, thus making it more efficient and user friendly.
Small and medium animals include dogs, cats, guinea pigs, pigs, and mice & rats used in laboratories. Small & medium animals segment is estimated to hold USD 318.0 million in 2018. High growth is due to rising pet ownership and increased demand for efficient animal care. Additionally, increasing disposable income will further escalate revenue growth.
Orthopedic surgery segment of U.S. veterinary surgical instruments market is estimated to hold substantial market share of 21.2% in 2018, owing to increasing prevalence of musculoskeletal disorders among the farm and companion animals. Skeletal and joint ailments are the most common musculoskeletal disorders that can be seen in dogs. Considering the growing prevalence of musculoskeletal illnesses, long-term treatment is required to combat such cases, thereby increasing the demand for orthopedic surgery in the forecast period.
Veterinary clinics segment is forecasted to reach USD 365.4 million by 2025. This is due to increasing number of veterinary clinics in the U.S. that are constantly striving for wide commercialization of their services, thus boosting segmental growth. Moreover, availability of skilled veterinary surgeons in these facilities will further boost industry growth. Also, rising awareness about animal health and growing infrastructure to provide advanced therapies will significantly accelerate veterinary clinics segment growth over the forecast period.
Some of the leading industry players in U.S. veterinary surgical instruments market include B. Braun Vet Care, BMT Medizintechnik GmbH, Ethicon Inc., GerMedUSA Inc., Jørgen KRUUSE A/S, Jorgensen Laboratories, Medtronic, Neogen Corporation Inc, Sklar Inc. and Steris. Primary business strategies adopted by industry participants includes regional expansion, new product launch and mergers and acquisition. For instance, In September 2019, the Jorgensen Laboratories launched a range of lives surgical skin staplers for veterinary surgical procedures. This new launch will enable the company to expand its product portfolio as well as serve a broadened customer base.
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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