Market Analysis
There are many factors that is driving the growth of the veterinary surgical instruments market.Some of these factors as per the Market Research Future (MRFR) report include rising need for veterinary surgical instruments, rising need for pet insurance, increasing awareness for animal health, rising animal healthcare expenditure, increase in veterinary practitioners, increase in trauma and soft tissue surgeries in animals, growing pet acceptance, product innovation, technological advancements, increased expenditure on research and development and increasing number of animal welfare laws and regulations and veterinary hospitals. On the other hand, factors such as dearth of veterinarians especially in emerging countries, lack of awareness regarding animal health and strict regulatory guidelines related to accuracy, efficacy and safety of veterinary surgical instruments are likely to hamper the growth of the veterinary surgical instruments market. The global Veterinary Surgical Instruments Market is anticipated to grow at a splendid 6.3% CAGR over the forecast period (2017-2023). The veterinary surgical instruments have been specially designed for performing surgical procedures on different animals. These instruments are selected resting on its function which includes to hold, pull, clamp, cut, crush and close a wound. The surgical instruments are categorized into various types based on function and design. It is made of martensitic or austenitic stainless steel. Various forms of surgery need various forms of surgical instruments. Some of the common surgery types include orthopedic surgery, ophthalmic surgery, surgical oncology, dental surgery, and sterilization surgery. The other procedures include foreign body removal, wound repair, cystotomy, bloat surgery, caesarean section and others. Key Players: Medtronics, B.Braun, Whittemore Enterprises, Inc.,Sklar Instruments,Surgical Holdings, Jørgen KRUUSE A/S, Eickemeyer Veterinary Equipment Inc Market Segmentation Market Research Future report offers an all-inclusive segmental analysis of the veterinary surgical instruments market on the basis of type, application and animals. Based on type, it is segmented into retractors, needle holders, scissors, dressing, forceps and scalpel handles. Based on applications, the veterinary surgical instruments market is segmented into dental, ophthalmic, sterilization and orthopedic. Based on animals, it is segmented into large animals, felines and canines. Of these, large animals will lead the veterinary surgical instruments market due to rising occurrence of chronic diseases of equine animals, rising animal healthcare spending in the developing countries and increasing awareness in government animal healthcare organizations. Regional Analysis Based on region, the veterinary surgical instruments marketcovers growth opportunities and latest trends across North America, Europe, Asia Pacific and Middle East and Africa. Of these, the US will grab the maximum share in the market owing to the presence of organized and large dairy and meat industry and the favorable reimbursement scenario here. Europe has the second largest share owing to increasing awareness regarding animal health, changing disease pattern and the government and many NGO’s working to augment animal healthcare. The veterinary surgical instruments market in the APAC region is anticipated to expand at the fastest pace owing to rising awareness and demand and the presence of a good number of veterinarians in this region. The veterinary surgical instruments market in this region is led by India and China. On the other hand, the veterinary surgical instruments market in Middle East and Africa will have a limited growth due to lack of knowledge concerning diseases, dearth in the availability of expert veterinary professionals and lack of access for veterinary healthcare. Competitive Analysis The veterinary surgical instruments market is highly competitive and is characterized by the existence of numerous key players. The major players amidst intense competition in the market are constantly laying emphasis on attaining higher share through agreements, collaborations and new product launches. The market by nature is fragmented with many companies constantly giving their efforts in marking their presence.
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