Projected Surge in Global Revenue –
The veterinary surgical procedures market is expected to generate a revenue of USD 67.8 billion in 2029, with a revenue of USD 48.3 billion in 2024 to register a CAGR of 7.0%.
Major Growth Driving Factors –
The growing developments in minimally invasive surgical techniques, like laparoscopy and arthroscopy, make surgery more attractive to pet owners, offering a faster recovery time and less pain for pets.
However, veterinary surgery procedures may not only include the actual surgery but also pre- and post-operative care, medication, and sometimes even long-term management. This will likely provide a barrier for the owner, specifically when considering non-essential surgeries.
Global Industry Segmentation –
This report divides the veterinary surgical procedures market into three segments – procedure type, animal type, end user and region.
“Based on animal type, the small animals segment is expected to grow at the highest CAGR during the forecast period.”
The increased number of veterinary surgical procedures among companion small animal species, such as dogs and cats, has demonstrated an enhanced interest taken in the health and welfare of pets. Factors that have contributed to the rise include a general trend in the humanization of pets by their owners, who consider them part of the family and hence are willing to spend on their medical care. Advances in veterinary medicine and surgical techniques now allow for treatment options that previously were not possible, greatly improving the outcomes and survival rate of surgical patients.
“The soft tissue surgeries segment is expected to account for the second largest share, by procedure type in the veterinary surgical procedures market.”
Another key trend in veterinary medicine is the rising number of soft tissue surgeries for companion small animals. This is attributed to many aspects, such as enhanced veterinary surgery techniques and technology, which have made it possible and successful to conduct elaborate procedures. Owners are increasingly treating pets like family members and invest in their health. Common soft tissue surgeries include spaying/neutering, removal of tumors, gastrointestinal operations, and wound repairs which is expected to drive the growth of the market.
Geographical Growth Dynamics –
“In 2023, Europe was the region with the second largest market share in the veterinary surgical procedures market“
The veterinary surgical procedures market is segmented into five major regions, namely, North America, Europe, Asia Pacific (APAC), Latin America, and the Middle East and Africa. Europe accounted for the second-largest share of the veterinary surgical procedures market in 2023. The growing number of companion animals in European households, the European Pet Food Federation estimates over 140 million pets reside in Europe, and this number is expected to climb further. With more pets, there’s a larger pool of animals requiring potential surgical intervention which is driving the growth of the veterinary surgical procedures market in the European region.
Key Players –
Key players in the veterinary surgical procedures market include Ethicon, Inc. (US), Cardinal Health, Inc. (US), ICU Medical, Inc. (US), Medtronic Plc (Ireland), BD Animal Health (US), B. Braun Vet Care GmbH (Germany), Integra LifeSciences Holdings Corporation (US), STERIS Plc (Ireland), Neogen Corporation (US), Baxter International Inc. (US), Covetrus, Inc. (US), Jorgensen Laboratories, Inc. (US), Surgical Holdings Veterinary. (UK), Kshama Surgical Pvt. Ltd. (India), Eickemeyer KG. (Germany), Nonin Medical, Inc. (US), Avalon Medical (US), Infiniti Medical. (US), Dispomed ltd (Canada), World Precision Instruments. (US), Jalal Surgical (Pakistan), GerVetUSA. (US), Naugra Medical (India), Chun Tara Industries. (India), Sklar Surgical Instruments. (US)