According to the latest report published by Acute Market Reports “Veterinary Surgical Sutures Market – Growth, Future Prospects and Competitive Analysis, 2019-2029,” the global veterinary surgical sutures market was valued at market value of US$ 264.13 million in 2019 and projected to grow at a CAGR of 6.7% during the forecast period from 2021 to 2029.
According to a survey conducted by American Pet Products Association’s cat owners pay about $196 in routine care and about $400 on surgical visits and dog owners spend about $235 annually and $551 on surgical visits. Less than 15% of the pet owners are insured. Spread of covid 19 across 215 countries has had a large impact on the pet care market. Total visits to veterinarian clinics indicated a sharp dip. Veterinary sutures are one of the most preferred surgical devices in veterinary surgeries or wound closures. The companion animals account for almost 50% of the market compared to farm animals. The reason for this dominance is increasing trend of petting animals in the young generation, and high awareness related to the health of companion animals in pet owners. Growing technological developments in animal husbandry industry have increased the profit margins of business owners due to which requirement of farm animals is increasing which is further assisting the animal healthcare market. Enhancement in the field of suture manufacturing process coupled with availability of wide range of surgical sutures for veterinary applications identified as the key factors responsible for overall growth of veterinary surgical sutures market.
Veterinary surgical sutures can be segmented as absorbable and non-absorbable. Absorbable surgical sutures are further segmented as monofilament, natural, and braided. Non-absorbable surgical sutures are sub-segmented as monofilament and braided. Absorbable surgical sutures accounted for the largest market share in 2019, due to key market drivers such as highly safe & minimum post-surgery complications are reported, cost-efficient, and causes minimum wear & tear of targeted area. Monofilament is currently the most preferred surgical suture as it causes less damage to skin tissues and reduces the chances of post-surgery infection.
North America was observed as the largest veterinary surgical sutures market due to high public awareness related to safe & efficient surgical sutures, minimal invasive veterinary surgeries promote minimum application of sutures assisting the quick recovery of animals, and high availability & accessibility of modern healthcare infrastructure. One of the major reasons indirectly assisting the market growth is rising number of individuals preferring a pet animal at home and imbibing this culture & idea in young population.
Browse the full report Veterinary Surgical Sutures Market – Growth, Future Prospects and Competitive Analysis, 2019-2029 at https://www.acutemarketreports.com/report/veterinary-surgical-sutures-market
Market Competition Assessment:
The growth of veterinary surgical sutures is gradual and major companies present in this market are investing on development of cost-efficient & safe veterinary surgical sutures. The key market players in this market are Medtronic plc, B.Braun, DemeTech, KRUUSE UK Ltd., Ethicon US, LLC, Teleflex Incorporated, Q-Close (Clinisupplies Ltd.), and AmerisourceBergen Corporation among others.
Key Market Movements:
• Rising awareness related to animal care is assisting the overall veterinary diagnostic & treatment market
• Technological enhancement in veterinary surgical sutures in terms of the design, physical properties and efforts to minimize post-surgery side-effects
• Absorbable surgical sutures accounted for the largest market share in overall veterinary surgical sutures market due to several advantages over non-absorbable surgical sutures
• North America dominated the overall veterinary surgical sutures market globally due to recorded highest number of pet and cattle surgeries.
The Global Veterinary Surgical Sutures Market is Segmented into:
Type of Sutures Segment (2019-2029; US$ Mn)
End-User Segment (2019-2029; US$ Mn)
Geography Segment (2019-2029; US$ Mn)
*Complete segmentation list is on report page
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