Veterinary Surgical Instruments Market by Product, Animal, Application - Forecast to 2021

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Nov 21, 2016, 03:09 ET

NEW YORK, Nov. 21, 2016 /PRNewswire/ --

The "Veterinary Surgical Instruments Market by Product (Sutures, Forceps, Scissors, Electrosurgery Instruments, Cannulas) Animal (Canines, Felines, Large Animals) Application (Soft tissue, Sterilization, Gynecology, & Orthopedic Surgery) - Forecast to 2021"

The global veterinary surgical instruments market is estimated to grow at a CAGR of 6.6% from 2016 to 2021, to reach USD 1,029.0 million by 2021 from USD 748.4 million in 2016. The growth of this market is mainly attributed to growing demand for pet insurance and rising animal health expenditure, and growth in the companion animal market. In addition, growth in the number of veterinary practitioners and their income levels in developed economies is further expected to drive the growth of this market. However, the shortage of skilled veterinarians in the developing economies hinder the growth of this market to a certain extent during the forecast period. Untapped emerging market such as China, India offers significant growth opportunities.

In this report, the veterinary surgical instruments market is segmented on the basis of product, animal type, application, and region. On the basis of products, the market is segmented into sutures, staplers and accessories, handheld devices, electro-surgery instruments, and others. The handheld devices are further segmented into forceps, scalpels, surgical scissors, hooks & retractors, and trocars & cannulas. The sutures & staplers segment accounted for the largest share of the veterinary surgical instruments market in 2015, owing to its wide application in all types of surgeries taking place in companion animals as well as livestock.

Based on the application the veterinary surgical instruments market is segmented into soft- tissue surgery, sterilization surgery, gynecology & urology, dental surgery, orthopedic surgery, ophthalmic surgery and others. Similarly, on the basis of animal type, the veterinary surgical instruments market is segmented into small animals and large animals.

Geographically, the global veterinary surgical instruments market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. In 2015, North America commanded a major share of the veterinary surgical instruments market. This is mainly due to the increasing adoption of companion animals, growing pet insurance industry, increasing demand for animal-derived food products, and rising veterinary healthcare expenditure in the region. However, Asia-Pacific is expected to witness the highest growth rate during the forecast period. Growth in the Asia-Pacific market can be attributed to rising companion animal population and increase in the demand for animal-derived food products.

Some of the prominent players in the veterinary surgical instruments market include B. Braun Vet Care GmbH (Germany), Medtronic Plc. (Ireland), Ethicon Inc. (U.S.), JORGEN KRUSSE A/S (Denmark), Jorgensen Laboratories (U.S.), Smiths Group Plc (U.K.), Neogen Corporation (U.S.), Integra LifeSciences Holdings Corporation (U.S.), STERIS Corporation (U.S.), DRE Veterinary (U.S.), GerMedUSA, Inc. (U.S.), Surgical Holdings (U.K.), Sklar Surgical Instruments (U.S.), World Precision Instruments, Inc. (U.S.), Surgical Direct (U.S.), Antibe Therapeutics Inc. (Canada), and iM3 (U.S.).

Research Coverage:
The focus of this report is on providing quantitative information for clients seeking market size information on various segments of the Veterinary Surgical Instruments market. It provides the current and forecast assessment of the Global Veterinary Surgical Instruments market. The report incorporates the veterinary surgical instruments according to the products used, by type of animal, application and regional analysis. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, SWOT analysis, recent developments, and key market strategies.

Reasons to Buy the Report:
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help firms in garnering a greater market share. Firms purchasing the report could use any one or combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for increasing their market shares.

The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the veterinary surgical instruments market. The report analyzes the veterinary surgical instruments market by product, animal type, application, and region
- Product Development/Innovation: Detailed insights on the upcoming trends, research and development activities, and new product launches in the veterinary surgical instruments market
- Market Development: Comprehensive information about lucrative emerging markets by product and region
- Market Diversification: Exhaustive information about new products, growing geographies, recent developments, and investments in the veterinary surgical instruments market
- Competitive Assessment: In-depth assessment of market shares, growth strategies, products, and manufacturing capabilities of leading players in the veterinary surgical instruments market

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