The veterinary surgical instruments market is estimated to witness a CAGR of 5.73% to reach US$1,180.213 million in 2024 from US$844.881 million in 2018. The increasing adoption of animal companions coupled with the growing incidence of animal diseases is expected to fuel the growth of the veterinary surgical instruments market. The market is expected to witness significant growth during the forecast period on account of rising healthcare expenditure and growing demand for animal insurance. The increasing number of veterinary practitioners and increasing initiative by the government also widen up the market growth opportunities. However, the lack of animal health awareness and shortage of skilled veterinarians will hinder the growth of the market globally.
The veterinary surgical instrument market has been segmented on the basis of animal type, application, and geography. By application, sterilization surgery is expected to hold significant share on account of the rising adoption of this procedure amongst dogs. Geographically, Asia-Pacific is expected to be a dominant regional market owing to the rising disposable income in countries such as India and China coupled with the enormous livestock population.
Growth in the adoption of companion animals
Lack of skilled veterinarians
The major players profiled in the Veterinary Surgical Instruments market include Jorgensen Laboratories, Neogen Corporation, B. Braun Vet Care GmbH, Medtronic PLC, Surgical Holdings, DRE Veterinary, IM3 Inc., Sklar Surgical Instruments, Steris Corporation, and Germed USA, Inc. among others.
The veterinary surgical instruments market has been analyzed through the following segments:
By Animal Type
Gynecology & Urology
Soft- tissue surgery
Middle East and Africa