Veterinary Surgical Devices Market by Type and Geography - Forecast and Analysis 2020-2024
- Published: Apr 2020
- Pages: 120
- SKU: IRTNTR40108
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The veterinary surgical devices market size has the potential to grow by USD 350.54 million during 2020-2024, and the market’s growth momentum will accelerate during the forecast period because of the steady increase in year-over-year growth.
This report provides a detailed analysis of the market by type (large animals and small animals) and geographic landscape (Asia, Europe, North America, and ROW). Also, the report analyzes the market’s competitive landscape. It offers information on several market vendors, including Avante Health Solutions, B. Braun Melsungen AG, Heska Corp., Integra LifeSciences Holdings Corp., Johnson & Johnson Services Inc., Jørgen Kruuse AS, Medtronic Plc, Neogen Corp., Smiths Group Plc, and STERIS Plc.
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Market Competitive Analysis
The veterinary surgical devices market is fragmented. Avante Health Solutions, B. Braun Melsungen AG, and Heska Corp. are some of the major market participants. Although the rising number of surgical procedures will offer immense growth opportunities, the high costs associated with pet care will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market position, this veterinary surgical devices market forecast report provides a detailed analysis of the market leaders. It offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and provides information on the products offered by various companies. Moreover, this veterinary surgical devices market analysis report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
This report provides information on the production, sustainability, and prospects of several leading companies, including:
- Avante Health Solutions
- B. Braun Melsungen AG
- Heska Corp.
- Integra LifeSciences Holdings Corp.
- Johnson & Johnson Services Inc.
- Jørgen Kruuse AS
- Medtronic Plc
- Neogen Corp.
- Smiths Group Plc
- STERIS Plc
Veterinary Surgical Devices Market: Segmentation by Geography
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North America was the largest veterinary surgical devices market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The rising animal healthcare expenditure, the increasing number of surgical procedures on animals, and the expansion of veterinary clinics and hospitals are some of the factors that will significantly drive the veterinary surgical devices market growth in this region over the forecast period.
Over 49% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for veterinary surgical devices in North America. Market growth in this region will be slower than the growth of the market in Asia.
Veterinary Surgical Devices Market: Segmentation by Type
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The increasing prevalence of chronic diseases in equine animals and the growing awareness among government animal health and welfare organizations about the importance of animal health have been driving the veterinary surgical devices market growth by the large animals segment.
The veterinary surgical devices market share growth by the large animals segment will be slower than the growth of the market by the small animals segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the veterinary surgical devices market size.
Veterinary Surgical Devices Market: Key Drivers and Trends
Factors such as the rising prevalence of chronic and infectious diseases among animals, the growing availability of veterinary doctors, and the increasing penetration of pet insurance in emerging economies are driving the scope for surgical procedures in veterinary hospitals and clinics. The rising surgical procedures imply a corresponding increase in the use of surgical devices such as infusion pumps, forceps, sutures, staplers, electrosurgery instruments, and others. Apart from the mentioned driving factors, another significant factor driving the demand for surgical procedures among animals is the growing number of pets involved in car accidents. According to a study in the Americas, 84% of the dog owners in the region drive with their dogs, increasing the chances of pets involved in car accidents. Therefore, the rising number of surgical procedures on pets is increasing the need for veterinary surgical devices.
- Pet insurance includes specialty property and casualty insurance policies to cover unplanned healthcare costs.
- The policies usually cover surgical procedures, accidental injuries, and prescription drugs.
- The pet insurance industry is rapidly growing in North America, which is one of the critical veterinary surgical devices market trends.
- According to the APPA, pet healthcare spending in the US reached around USD 75.38 billion from USD 66.75 million in 2016.
- Employees of more than 5,000 companies, including Microsoft and Yahoo, are now offered pet insurance as part of their regular benefits package.
- The veterinary surgical devices market is expected to record a CAGR of almost 7% during 2020-2024.
Veterinary Surgical Devices Market: Key Highlights of the Report for 2020-2024
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will drive veterinary surgical devices market growth during the next five years
- Precise estimation of the veterinary surgical devices market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the veterinary surgical devices industry across Asia, Europe, North America, and ROW
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of veterinary surgical devices market vendors
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Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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