Newark, New Castle, USA, June 05, 2023 (GLOBE NEWSWIRE) -- The market analysis of the global veterinary forceps market was conducted by Growth Plus Reports in 2022 and valued at US$ 48.0 million. The market is expected to hit a revenue CAGR of 4.60% to reach US$ 71.95 million by 2031.
Analysis of the global market for veterinary forceps indicates that during the forecast period, revenue share is likely to increase significantly.
The veterinary forceps market is influenced by several dynamic factors. Firstly, the increasing pet ownership and growing awareness about pet healthcare are driving the demand for veterinary forceps. As more individuals seek veterinary care for their pets, the need for specialized instruments such as forceps for surgical procedures and dental treatments rises.
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Veterinary Forceps Market Scope
| Report Attribute | Details |
| Market Size Value in 2022 | US$ 48.0 million |
| Revenue Forecast in 2031 | US$ 71.95 million |
| CAGR | 4.60% |
| Base Year for Estimation | 2022 |
| Forecast Period | 2023 to 2031 |
| Historical Year | 2021 |
| Segments Covered | Type, End User, and Region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Secondly, advancements in veterinary medicine and surgical techniques contribute to the market dynamics. Innovations in forceps design, materials, and ergonomics enhance their efficiency and effectiveness, leading to improved patient outcomes. Additionally, the rising prevalence of veterinary dental diseases and oral conditions in animals, along with the growing number of veterinary dental procedures, fuels the demand for forceps specifically designed for dental extractions and oral surgeries.
Moreover, the overall growth of the veterinary industry, including veterinary clinics, hospitals, and research facilities, positively impacts the veterinary forceps market. However, challenges such as pricing pressure, competition, and regulatory requirements influence the market dynamics as well. Manufacturers need to focus on product differentiation, quality, and compliance with regulations to stay competitive in this evolving market landscape.
Competitive Landscape
A list of the prominent players operating in the global market for veterinary forceps includes:
- EICKEMEYER VETERINARY EQUIPMENT LTD.
- Sklar Surgical Instruments
- Génia
- Orthomed Ltd.
- Jorgen Kruuse A/S
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Market Segmentation:
Based on type, the global veterinary forceps market is segmented into thumb forceps, hemostatic forceps, tissue forceps, and others.
Based on end-user, the global veterinary forceps market is segmented into veterinary hospitals and veterinary clinics.
In the worldwide market, the hemostatic forceps category commands a sizeable revenue share. Hemostatic forceps are adaptable tools that may be used to control bleeding in various surgical operations.
Market Restraints:
The veterinary forceps market faces several restraints that impact its growth. Firstly, the high cost of veterinary forceps can be a significant barrier, particularly for small veterinary clinics and practitioners with limited budgets. The cost of specialized forceps can be substantial, making it challenging for some veterinary professionals to afford these instruments.
Secondly, the availability of alternative treatment options and techniques, such as minimally invasive surgeries and advanced imaging technologies, may reduce the demand for certain types of forceps. Veterinarians may opt for less invasive procedures or utilize alternative instruments, which can limit the market potential for forceps. Additionally, regulatory compliance and stringent quality standards impose challenges on manufacturers, increasing the complexity and cost of developing and marketing veterinary forceps.
Furthermore, the limited awareness and training regarding the benefits and proper use of veterinary forceps among some veterinary professionals can hinder their adoption and utilization. Addressing these restraints requires efforts to improve affordability, enhance awareness, and provide appropriate training to veterinarians on the effective and safe use of veterinary forceps.
Report Coverage
Global market research on the veterinary forceps market was done in-depth by Growth Plus Reports. We looked at the core market traits, noteworthy investment prospects, regional growth trends, ten-year revenue projections, rival market participants, and mergers and acquisitions.
Table of Content
- INTRODUCTION
- Market Ecosystem
- Timeline Under Consideration
- Historical Years – 2021
- Base Year – 2022
- Forecast Years – 2023 to 2031
- Currency Used in the Report
- RESEARCH METHODOLOGY
- Research Approach
- Data Collection Methodology
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Approach
- Bottom Up
- Top Down
- Market Forecasting Model
- Limitations and Assumptions
- PREMIUM INSIGHTS
- Current Market Trends (COVID-19 Perspective)
- Key Players & Competitive Positioning (2022)
- Regulatory Landscape
- MARKET DYNAMICS
- Drivers
- Restraints/Challenges
- Opportunities
- GLOBAL VETERINARY FORCEPS MARKET - ANALYSIS & FORECAST, BY TYPE
- Thumb Forceps
- Hemostatic Forceps
- Tissue Forceps
- Others
- GLOBAL VETERINARY FORCEPS MARKET - ANALYSIS & FORECAST, BY END USER
- Veterinary Hospitals
- Veterinary Clinics
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- Blanket coverage on competitive landscape
- Winning imperatives
- Exhaustive coverage on 'Strategic Developments' registered by leading players of the market.
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- Customer Base Assessment
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- 'Business Profile' of Key Players
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