Veterinary Surgical Instrument Market Size To Reach $1.5 Billion By 2027 | Key Industry Players Are Medtronic, DRE Veterinary, B. Braun Vet Care GmbH, and Jorgen Kruuse A/S.

The global veterinary surgical instrument market is expected to be worth USD 1.5 billion by 2027, advancing at a healthy CAGR of 7.0% through 2027, according to Grand View Research, Inc.

Pet adoption has seen continued growth across countries globally. A 2019-2020 survey by the American Pet Products Association (APPA) stated that 67.0% households in the United States, amounting to 85 million families, owned at least one pet, with there being 63.4 million pet dogs and 42.7 million cats.

Spending on veterinary services have continuously increased in the United States since 2000, with surgical vet visits for homeowners costing an average of USD 426 for dogs, USD 214 for cats, and USD 45 for birds, according to a survey by American Pet Products Association (APPA).

A survey conducted in 2017 in the United States on pets showed that 68% of pet owners considered an emergency surgery for their pets to be reasonable, while dental surgery was the choice for 44%. Correction of bone malposition was assumed to be good enough for 41% of the correspondents. All of these constitute important pet surgical processes, and their growing requirement is expected to positively impact the veterinary surgical instruments market.

The North American Pet Health Insurance Association (NAPHIA) states that by 2018, 2.43 million pets in North America were insured, with the U.S. accounting for 2.16 million pets, while Canada accounted for 277,000 insured pets in 2018. The number of insured pets in the US and Canada stood at around 2 million in 2017, according to NAPHIA.

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Further key findings from the report suggest:

• Increasing number of veterinary practitioners are anticipated to create growth opportunities in the market
• Handheld devices accounted for the largest share in 2019, 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 2019 due to increasing prevalence of periodontal diseases and rising demand for pet dental care
• North America dominated the global market in 2019 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
• Some of the key companies in the market are Medtronic, DRE Veterinary, B. Braun Vet Care GmbH, and Jorgen Kruuse A/S.

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Grand View Research has segmented the global veterinary surgical instrument market on the basis of product, animal type, application, and region:

Veterinary Surgical Instrument Product Outlook (Revenue, USD Million, 2016 - 2027)

• Handheld Devices
• Forceps
• Scalpels
• Surgical Scissors
• Hooks & Retractors
• Others
• Electrosurgery Instruments
• Sutures, Staplers, and Accessories 
• Others

Veterinary Surgical Instrument Animal Type Outlook (Revenue, USD Million, 2016 - 2027

• Large Animal
• Small Animal

Veterinary Surgical Instrument Application Outlook (Revenue, USD Million, 2016 - 2027)

• Soft Tissue Surgery 
• Cardiovascular Surgery
• Ophthalmic Surgery
• Dental Surgery 
• Orthopedic Surgery
• Others

Veterinary Surgical Instrument Regional Outlook (Revenue, USD Million, 2016 - 2027)

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Italy
• Spain
• Asia Pacific
• Japan
• China
• India
• Latin America
• Brazil
• Mexico
• Middle East & Africa
• South Africa

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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