(PharmaNewsWire.Com, October 10, 2017 ) According to the report “Latin America Veterinary Surgical Devices Market By Products (Sutures, Foreceps, Scissors, Electrosurgery Instruments, Cannulas, Staplers And Accessories, Others), By Animals (Canines, Felines, Large Animals), By Application (Soft Tissue, Sterilization, Gynecology, Orthopedic Surgery), And By Region - Industry Analysis, Size, Share, Growth, Trends, And Forecasts (2016–2021)” published by Market Data Forecast, the Latin America Veterinary Surgical Devices Market was worth USD 89.76 million in 2016 and estimated to be growing at a CAGR of 6.93%, to reach USD 125.48 million by 2021. With the increasing companion animal population and growing concern regarding pets the market is predicted to grow steadily.
Over time, many different kinds of surgical instruments and tools have been invented. To help veterinarians to treat animals surgical instruments have been manufactured which are designed to perform specific actions during a surgery or operation. The amount of pet owners as well as companion animal population is on the rise. The number veterinary practitioners are also increasing.
Some of the factors like growing companion animal population coupled with pet insurance, increasing individual awareness regarding animal health, rising animal health expenditure are driving the market forward. Also increase in number of veterinary practitioners, rise in their income levels in developed regions is going to assist in growth of the market. Conversely, limited amount of veterinarians in many developing regions, high pet care costs may hamper the growth of market. Besides, increasing awareness among individuals in developing regions regarding animal health provides great future potential for the market.
The Latin America Veterinary Surgical Devices Market is segmented based on Product, Animal and Application. Based on Products – Sutures, Foreceps, Scissors, Electrosurgery Instruments, Cannulas, Staplers and accessories and others. Based on Animals – Canines, Felines and Large Animals. Based on Applications – Soft tissue, Sterilization, Gynecology, Orthopedic Surgery.
Based on Geographical analysis the market is separated into regions of Argentina, Brazil, Mexico and Rest of Latin America. Brazil is leading the market while Argentina is at second place. Higher adoption rate and Higher pet adoption rate has favoured the dominance of Brazil. Argentina is expected to grow at the fastest CAGR due to increasing awareness regarding animal health and increasing livestock population. Product wise Sutures, Staples & accessories are holding major share in the market.
Some of the key players dominating this market include B.Braun Vet Care GmbH, Medtronic Plc., Ethicon Inc., JORGEN KRUSSE A/S, Jorgensen Laboratories, Smiths Group Plc., Neogen Corporation, Integra LifeSciences Holding Corporation, STERIS Corporation, DRE Veterinary, GerMedUSA Inc., Surgical Holdings, Sklar Surgical Instruments, World Precision Instruments Inc., Surgical Direct.
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