Report Title: "Global Veterinary Surgical Instruments Market - Segmented by Product, Animal, Application, and Geography - Growth, Trends, and Forecast (2018 - 2023)"
Veterinary Surgical Instruments Market (2018 – 2023) research report provides List of manufacturers, regional analysis, segmentation by type & applications and the actual process of whole Veterinary Surgical Instruments industry. Veterinary Surgical Instruments Market report delivers a detailed study of present and upcoming Opportunities to clarify future investment in the market.
“Veterinary Surgical Instruments Market report is expected to register a CAGR of XX% over a five years forecast period.”
List of Major Key players operating in the Global Veterinary Surgical Instruments Market are –
- DRE Veterinary
- Eickemeyer Veterinary Equipment Inc.
- Sklar Surgical Instruments
- Surgical Holdings
- B. Braun Melsungen AG
- Integra LifeSciences
- Smiths Medical
- and Surgical Direct among others
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The Veterinary Surgical Instruments Market is expected to register a growth rate of approximately 6.5% during the forecast period, 2018-2023. Veterinary Surgical Instruments refer to instruments designed specifically for performing surgical procedures on animals.
The market is primarily driven by the increase in R&D expenditure, product innovation, rising demand of pet insurance coverage, increasing supply of raw materials and better access to labor. As per the geographical analysis, North America followed by Europe is expected to dominate the market, while Asia-Pacific is expected to exhibit fastest growth rate owing to the factors such as high production of raw material and better access to labor.
Rise in R&D Expenditure and Innovation of Advanced Products to Propel the Veterinary Surgical Instruments Market
Veterinary surgical instruments market, being a highly competitive one, is expected to observe growth owing to the recent technological advancements and product innovation. According to the Animal Health Institute (AHI), each year, AHI member companies expend 10 – 12% of their sales investing in new innovations in animal health. Hence, numerous medicines and medical devices have been developed by scientists, as a result of which the prevention and treatment of animal health issues have improved dramatically. Similarly, as per the annual report of International Federation for Animal Health (IFAH) in the year 2017, R&D investment by the animal healthcare industries has been more than EUR 400 million. Thus the rise in R&D expenditure has resulted in development, innovation, and launch of several new veterinary medical devices including surgical instruments which address various general procedures such as patient-management, surgical consent, common wound surgeries etc., along with a number of specific health issues such as diseases associated with sensory systems, bones etc.
In addition to the aforementioned factor, availability of stainless steel as the raw material, better access to labor, and increasing demand for pet insurance coverage are expected to propel the market growth over the forecast period.
Stringent Regulatory Policies to Limit Growth of the Veterinary Surgical Instruments Market
The stringent regulatory guidelines associated with safety, efficacy, and accuracy of the veterinary surgical instruments are expected to restrain the market growth. The veterinary surgical procedures are covered under Veterinary Surgeons Act 1966 by The Council of the Royal College of Veterinary Surgeons, UK and have to go through prolonged and tiresome approval procedures. FDA regulates and supervises all kinds of veterinary devices including the surgical instruments and if a veterinary device is adulterated or misbranded, FDA has the authority to take appropriate regulatory action. This is in turn expected to hinder the adoption as well as approval procedures associated with the veterinary surgical instruments. Hence, impeding the market growth.
North America to Dominate the Veterinary Surgical Instruments Market
The rising companion animal adoption, and increasing animal healthcare expenditure attribute to the largest market share of North America and is expected to retain its dominance over the forecast period. In addition, growing number of skilled veterinary practitioners, high awareness about pet health among the pet owners, increasing demand of animal products, and rise in demand for pet insurance coverage are some other factors for propelling the growth of the veterinary surgical instruments in North America.
North America is expected to be followed by Europe being the second largest market for veterinary surgical instruments, while Asia-Pacific expected to demonstrate highest growth rate owing to a large number of livestock animals, and rise in the variety of diseases associated with them. Hence, the aforementioned factors are expected to fuel the growth of the surgical instruments market in the Asia Pacific.
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Global Veterinary Surgical Instruments Market: Regional Segment Analysis (Regional Production Volume, Consumption Volume, Revenue and Growth Rate 2018-2023):
- North America (United States, Canada and Mexico)
- Europe (Germany, UK, France, Italy, Russia, Spain and Benelux)
- Asia Pacific (China, Japan, India, Southeast Asia and Australia)
- Latin America (Brazil, Argentina and Colombia)
- The Middle East and Africa
Key Questions Answered About Veterinary Surgical Instruments Market:
- What is the market size and growth rate of the global and regional market by various segments?
- What is the market size and growth rate of the Veterinary Surgical Instruments market for selective countries?
- Which region or sub-segment is selected is expected to drive the market in the forecast period?
- What factors are estimated to drive and restrain the market growth?
- What are the key technological and Veterinary Surgical Instruments market trends shaping the market?
- What are the key companies operating in the market?
- Which company accounted for the highest market share?
Reasons to Purchase Veterinary Surgical Instruments Market Report:
- The report analyses how stringent emission control norms will drive the global Veterinary Surgical Instruments market.
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
- Study on the product type that is expected to dominate the market.
- Study on the regions that are expected to witness the fastest growth during the forecast period.
- Identify the latest developments, market shares and strategies employed by the major Veterinary Surgical Instruments market players.
- 3 months’ analyst support along with the Market Estimate sheet (in excel).
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Veterinary Surgical Instruments Market Report TOC Includes:
- Introduction of Veterinary Surgical Instruments Market
- Research Approach and Methodology
- Veterinary Surgical Instruments Market Overview
- Veterinary Surgical Instruments Market Segmentation
- Competitive Landscape
- Company Profiles
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