DUBLIN – (BUSINESS WIRE) – August 6, 2021–
The report “Veterinary Surgical Instruments Market – Growth, Trends, COVID-19 Impact and Forecast (2021 – 2026)” has been added to the offering of ResearchAndMarkets.com.
The veterinary surgery instruments market is expected to register a CAGR of nearly 6.5% during the forecast period (2021-2026).
- B. Braun Melsungen SA
- DRE Veterinary
- Eickemeyer Veterinary Equipment Inc.
- Integrated Life Sciences
- Sklar surgical instruments
- Smiths Medical
- SAS Engineering
Key market trends
Electrosurgical Instruments Segment is expected to register high CAGR during the forecast period
Electrosurgery in veterinary care is often preferred over conventional methods, as it can be used instead of a scalpel to cut soft tissue, with the aim of reducing bleeding and with better precision. Electrosurgical units involve the use of an electrical current flowing from a device through the patient and back to the generator. The effect can be to cut the tissue, to clot the vessels or to destroy (flash) the tissue. Additionally, electrosurgery has been shown to cause less or no damage to nearby sensitive tissue. This helps to avoid postoperative inconvenience. With the increasing number of surgeries performed on pet owners being more cautious of surgeries that do not cause postoperative pain, this segment is expected to experience strong growth.
Moreover, the increasing burden of surgeries in animals, increasing adoption of companion animals, and increasing spending on animal health are also expected to contribute to the growth of the studied market. According to the 2017-2018 American Pet Products Association (APPA) National Survey of Pet Owners, 10% of dogs and 8% of cats and birds have had surgeries. So, considering these factors, the market is expected to experience healthy growth during the forecast period.
North America dominates the market during the forecast period
North America is expected to dominate the studied market, owing to the growing adoption of companion animals and increasing spending on animal health.
According to the American Pet Products Association (APPA), there is an increase in spending for the pet industry in the United States. Total U.S. pet industry spending was around $ 97.1 billion in 2019, while spending in 2018 was $ 90.5 billion. Additionally, according to the 2019-2020 National Pet Owner Survey conducted by the APPA, 67% of U.S. households, or roughly 85 million families, own a pet. This is an increase from 56% of US households in 1988, the first year the survey was conducted. Countries in North America, such as the United States and Canada, are also placing emphasis on establishing appropriate skills in veterinarians. These efforts have enabled this studied market to dominate and make it lucrative for global players.
Main topics covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market overview
4.2 Market drivers
4.2.1 Increase in R&D spending and innovation of animal health products
4.2.2 Increase pet ownership
4.2.3 Increasing Incidence of Zoonotic Diseases
4.3 Market restrictions
4.3.1 Rising cost of pet care
4.3.2 Strict regulatory policies
4.4 Porter’s five forces analysis
5 MARKET SEGMENTATION
5.1 By product
5.2 Per animal
5.3 By application
6 COMPETITIVE LANDSCAPE
6.1 Company profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information on this report, visit https://www.researchandmarkets.com/r/c8tqbb
See the source version on businesswire.com: https://www.businesswire.com/news/home/20210806005374/en/
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INDUSTRY KEYWORD: VETERINARY HEALTH SURGERY
SOURCE: Research and markets
Copyright Business Wire 2021.
PUB: 06/08/2021 10:29 a.m. / DISC: 06/08/2021 10:29 a.m.
Copyright Business Wire 2021.