Veterinary Surgical Procedures Market Size, Share & Trends by Surgery Type (Spaying/Neutering, Dental, Soft Tissue, Orthopedic, Ophthalmic, Neurosurgery), Animal Type (Small Animals & Large Animals), End User (Hospitals, Clinics, Laboratory) - Global Forecast to 2029
Updated on : Aug 22, 2024
Veterinary Surgical Procedures Market Size, Share & Trends
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%. Veterinary surgical procedures are rapidly transforming the industry, offering significant advantages for manufacturers. The global rise in pet ownership and advancements in surgical procedures including surgical instruments and equipments, is a major driver for the demand for veterinary surgical procedures. Development of new surgical instruments, robotics, and imaging technologies like 3D printing and VR training for vets, improves efficiency and success rates of procedures which is expected to drive the growth of the market.
In this report, the veterinary surgical procedures market is segmented into – procedure type, animal type and end user and region.
Veterinary Surgical Procedures Market Trends
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Veterinary Surgical Procedures Market Dynamics
Driver: Growth in the companion animal population
The companion animal population has experienced notable growth globally in recent years, driven by several interrelated factors. As urbanization has intensified and living spaces have become more confined, smaller pets like cats and small breed dogs have gained popularity. Moreover, shifting societal attitudes have elevated pets from mere animals to cherished family members, fostering increased ownership. Concurrently, the economic affluence of many regions has enabled more individuals and families to afford pets and their associated costs. The pervasive influence of social media and popular culture has further promoted pet ownership, portraying animals as companions that offer emotional support and enrich daily life. Additionally, heightened awareness of animal welfare issues has spurred adoption and rescue efforts, expanding the pet population. This growth underscores a broader recognition of the benefits of human-animal relationships and highlights pets' roles in contemporary lifestyles.
Restraint: Rising pet care cost.
The cost of pet care has been steadily rising, presenting a growing financial challenge for pet owners worldwide. Several factors contribute to this trend. Advances in veterinary medicine and technology have expanded the range of available treatments and diagnostics, offering pets a level of healthcare previously reserved for humans. While these advancements improve outcomes, they also come with higher costs. Additionally, the quality of pet food and nutrition has improved, reflecting a broader understanding of dietary needs but also increasing expenses for owners. Moreover, as pets are increasingly viewed as family members, there is a greater willingness among owners to invest in premium services and products, further driving up costs.
Opportunity: Advancements in Veterinary Surgery
Advancements in veterinary surgery have revolutionized the treatment options available for pets, mirroring developments in human healthcare. Technological innovations such as minimally invasive techniques, laparoscopy, and advanced imaging modalities like MRI and CT scans have greatly enhanced veterinarians' ability to diagnose and treat a wide range of conditions. These advancements allow for more precise surgeries with smaller incisions, leading to reduced pain, faster recovery times, and fewer complications for animals undergoing procedures. Additionally, the use of cutting-edge anesthesia protocols and monitoring systems has improved safety during surgeries, minimizing risks associated with anesthesia administration. The field of orthopedic surgery for pets has also benefited from advancements like joint replacement surgeries and sophisticated fracture repair techniques, enabling pets to regain mobility and improve their quality of life.
Challenge: Shortage of veterinary practitioners in developing countries
Developing countries are facing a critical shortage of veterinary practitioners, posing significant challenges to animal health, agriculture, and public health initiatives. Several factors contribute to this shortage. First, limited educational infrastructure and resources in these regions often result in fewer veterinary schools and training opportunities compared to developed countries. This scarcity of educational facilities leads to a smaller pool of qualified veterinarians entering the workforce each year. Moreover, the distribution of veterinary services tends to be uneven, with rural areas typically underserved compared to urban centers. This disparity impacts livestock productivity, animal welfare, and the ability to effectively control and prevent diseases that affect both animals and humans.
Veterinary Surgical Procedures Market Ecosystem
The veterinary surgical procedures market is becoming increasingly competitive, with new players entering the market and established players vying for market share. This competition drives down prices as companies try to undercut each other. The cost of materials, equipment, and labor is increasing, putting pressure on medtech businesses to maintain profitability while keeping prices competitive. Consolidation within the surgical instruments industry, particularly the rise of homecare settings creates larger entities with greater purchasing power. This can lead to lower prices for supplies and equipment, further pressuring smaller players also government regulations and changes in insurance coverage can impact reimbursement rates for surgical procedures, forcing providers to adjust their pricing strategies
By procedure type, the spaying/neutering segment of the veterinary surgical procedures industry is expected to show the highest CAGR from 2024 to 2029.
The type segment is segmented into spaying/neutering, dental procedures, soft tissue surgeries, orthopedic surgeries, ophthalmic surgeries, neurological surgeries, other specialized surgeries. One of the primary reasons for spaying and neutering is to control the pet population. By preventing animals from reproducing, it helps reduce the number of unwanted or stray animals that may end up in shelters or on the streets. also spaying and neutering can provide significant health benefits to animals. For females, spaying reduces the risk of uterine infections (such as pyometra) and mammary tumors, especially if done before the first heat cycle. For males, neutering reduces the risk of testicular cancer and can lower the incidence of certain prostate problems which is expected to drive the segment growth.
By animal type, cats segment of the veterinary surgical procedures industry is expected to show the second highest CAGR from 2024 to 2029.
Veterinary surgical procedures in cats encompass a diverse array of interventions aimed at addressing a range of medical conditions and improving feline health. Common procedures include spaying and neutering, which not only prevent unwanted litters but also contribute to overall health by reducing the risk of reproductive cancers and behavioral issues. Dental procedures are crucial for managing oral health, including cleanings, extractions, and treatments for periodontal disease, which can affect a cat's overall well-being if left untreated. Soft tissue surgeries are often performed to remove tumors, address wounds, or manage conditions like gastrointestinal foreign bodies. Orthopedic surgeries, though less common, may be necessary to repair fractures or address joint abnormalities that affect mobility and comfort which is expected to drive the segment growth.
By end user, veterinary clinics segment of the veterinary surgical procedures industry is expected to show the second highest CAGR from 2024 to 2029.
In veterinary clinics, surgical procedures are essential for diagnosing, treating, and managing various health issues in animals. These clinics typically perform a range of surgical procedures, both routine and complex, depending on the needs of their patients. Common procedures include spaying and neutering to control pet populations and prevent reproductive-related diseases. Dental surgeries address oral health issues such as periodontal disease and tooth extractions, which can impact overall health if left untreated which is expected to drive the segment growth.
North America accounted for the largest CAGR of the global veterinary surgical procedures industry, by region in the forecast period.
The high number of veterinary surgeries in North America is increasing rapidly, with several converging factors driving this trend. Percentage-wise, the rise in pet ownership has grown tremendously, and many consider pets as members of the family—hence, they prove to be willing to pay for advanced medical procedures to ensure the health and well-being of their animals. Thirdly, progress in veterinary medicine itself, in diagnostic facilities and surgical technologies, has increased the variety of conditions now treatable, hence making complex surgeries common and successful. Finally, proliferating pet insurance also serves to make high-cost surgical procedures an option by reducing this cost burden on pet owners. Moreover, heightened awareness of the problems in animal health and welfare issues, supplemented by education campaigns and veterinary outreach programs, has more pet owners seeking effective and timely veterinary care.
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The 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)
Scope of the Veterinary Surgical Procedures Industry:
|
Report Metric |
Details |
|
Market Revenue in 2024 |
$48.3 billion |
|
Projected Revenue by 2029 |
$67.8 billion |
|
Revenue Rate |
Poised to Grow at a CAGR of 7.0% |
|
Market Driver |
Growth in the companion animal population |
|
Market Opportunity |
Advancements in Veterinary Surgery |
The study categorizes the veterinary surgical procedures market to forecast revenue and analyze trends in each of the following submarkets:
By Procedure Type
- Spaying/Neutering
- Dental Procedures
- Soft Tissue Surgeries
- Orthopedic Surgeries
- Ophthalmic Surgeries
- Neurological Surgeries
- Other Specialized Surgeries
By Animal Type
-
Small Animals
- Dogs
- Cats
- Rodents
- Large Animals
By End User
- Veterinary Hospitals
- Veterinary Clinics
- Other End Users
By Region
-
North America
- US
- Canada
-
Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
-
Asia Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of APAC
-
Latin America
- Brazil
- Mexico
- Rest of Latin America
-
Middle East & Africa
- GCC Countries
- Rest of Middle East and Africa
Recent Developments of Veterinary Surgical Procedures Industry:
- In January 2024, Cardinal Health acquired Specialty Networks, a technology-enabled multi-specialty group purchasing and practice enhancement organization, for USD 1.2 Billion. The acquisition helped the company enhance its specialty strategy by providing new capabilities that strengthen the link between downstream and upstream services.
- In January 2024, BD and Techcyte announced a strategic collaboration to offer AI-based digital cervical cytology systems for pap testing.
- In March 2023, Medtronic announced a partnership with Cosmo Pharmaceuticals and NVIDIA to integrate NVIDIA's AI technologies into the GI Genius intelligent endoscopy module. The GI Genius is the first FDA-cleared, AI-assisted colonoscopy tool designed to help physicians detect polyps that can lead to colorectal cancer.
- In March 2022, B. Braun acquired Medizin & Technik GmbH, a specialist in the preparation of dialysis concentrates.
- In July 2022, Medtronic and the American Society for Gastrointestinal Endoscopy expanded the Health Equity Assistance Program for colon cancer screening with support from Amazon Web Services. Completed first installation of donated GI Genius intelligent endoscopy modules..
Frequently Asked Questions (FAQ):
Which is the largest segment of the veterinary surgical procedures market, by procedure type?
On the basis of procedure type, the spaying/neutering market. Spaying and neutering contribute to a healthier and more manageable pet population within communities, promoting responsible pet ownership and reducing the burden on animal shelters and rescue organizations which is expected to drive the segment growth.
Which is the largest segment of the veterinary surgical procedures market, by animal type?
On the basis of animal type, the small animal is the largest segment of veterinary surgical procedures market. The growing number of small animals reflects a broader trend towards diversifying the types of pets people keep and care for, beyond traditional cats and dogs. Small animals are generally defined as pets that are smaller in size and often require less space compared to larger animals which is expected to drive the segment growth. .
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The study involved four major activities in estimating the current size of the veterinary surgical procedures market. Exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.
Secondary Research
The secondary research process involved the widespread use of secondary sources, directories, databases (such as Bloomberg Businessweek, Factiva, and D&B Hoovers), white papers, annual reports, company house documents, investor presentations, and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and commercial study of the veterinary surgical procedures market. It was also used to obtain important information about the key players and market classification and segmentation according to industry trends to the bottom-most level, and key developments related to market and technology perspectives. A database of the key industry leaders was also prepared using secondary research.
Primary Research
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include industry experts such as CEOs, vice presidents, marketing and sales directors, technology & innovation directors, and related key executives from various key companies and organizations operating in the veterinary surgical procedures market. The primary sources from the demand side included industry experts, purchase & sales managers, doctors, and personnel from research organizations. Primary research was conducted to validate the market segmentation, identify key players in the market, and gather insights on key industry trends and key market dynamics.
A breakdown of the primary respondents for the veterinary surgical procedures market is provided below:
Note 1: C-level primaries include CEOs, COOs, CTOs, and VPs.
Note 2: Other primaries include Others include sales managers, marketing managers, and product managers.
Note 3: Companies are classified into tiers based on their total revenue. As of 2020: Tier 1=>USD 1 billion, Tier 2 = USD 500 million to USD 1 billion, Tier 3=<USD 500 million
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The research methodology used to estimate the size of the veterinary surgical procedures market includes the following details.
The market sizing of the market was undertaken from the global side.
Country-level Analysis: The size of the veterinary surgical procedures market was obtained from the annual presentations of leading players and secondary data available in the public domain. The share of products and services in the overall veterinary surgical procedures market was obtained from secondary data and validated by primary participants to arrive at the total veterinary surgical procedures market. Primary participants further validated the numbers.
Geographic market assessment (by region & country): The geographic assessment was done using the following approaches:
Approach 1: Geographic revenue contributions/splits of leading players in the market (wherever available) and respective growth trends
Approach 2: Geographic adoption trends for individual product segments by end users and growth prospects for each of the segments (assumptions and indicative estimates validated from primary interviews)
At each point, the assumptions and approaches were validated through industry experts contacted during primary research. Considering the limitations of data available from secondary research, revenue estimates for individual companies (for the overall veterinary surgical procedures market and geographic market assessment) were ascertained based on a detailed analysis of their respective product offerings, geographic reach/strength (direct or through distributors or suppliers), and the shares of the leading players in a particular region or country.
Global Veterinary surgical procedures Size: Top-Down Approach
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Global Veterinary surgical procedures Size: Bottom-Up Approach
Data Triangulation
After arriving at the overall market size—using the market size estimation processes explained above—the market was split into several segments and sub-segments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides.
Market Definition
Veterinary surgical procedures refer to the industry involved in the development, manufacturing, and distribution of surgical instruments, equipment, and supplies used in veterinary surgeries. This market encompasses a wide range of products and services aimed at facilitating various surgical procedures performed on animals, including but not limited to companion animals (such as dogs, cats, and rodents). the common procedures include spaying/neutering, dental procedures, soft tissue surgeries, orthopedic surgeries, ophthalmic surgeries, neurological surgeries and other specialized surgeries (reconstructive surgeries, ear surgeries).
Key Stakeholders
- Manufacturers and distributors of medical devices
- Manufacturers and distributors of medical device components
- Veterinary surgical instruments and equipments companies
- Healthcare institutes
- Diagnostic laboratories
- Veterinary Hospitals and clinics
- Academic institutes
- Research institutes
- Government associations
- Market research and consulting firms
- Venture capitalists and investors
Objectives of the Study
- To define, describe, segment, analyze, and forecast the global veterinary surgical procedures market by procedure type, animal type and end user and region
- To provide detailed information about the factors influencing the market growth (drivers, restraints, opportunities, and challenges)
- To analyze micro markets concerning individual growth trends, prospects, and contributions to the overall market
- To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players.
- To forecast the size of the veterinary surgical procedures market in North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
- To profile the key players in the veterinary surgical procedures market and comprehensively analyze their core competencies.
- To track and analyze competitive developments such as agreements, collaborations, and partnerships; expansions; acquisitions; and product launches and approvals in the veterinary surgical procedures market.
- To analyze the impact of the recession on the veterinary surgical procedures market
Available Customizations
With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:
Geographic Analysis
- Further breakdown of the Rest of Asia Pacific veterinary surgical procedures market into Indonesia, Philippines, Vietnam, Hong Kong, and other countries
- Further breakdown of the Rest of Europe veterinary surgical procedures market into Belgium, Russia, the Netherlands, Switzerland, and other countries.
- Further breakdown of the Rest of Latin America veterinary surgical procedures market into Argentina, Peru, and other countries.
Growth opportunities and latent adjacency in Veterinary Surgical Procedures Market