The Veterinary Surgical Devices Market size in Latin America is expected to be worth USD 79.45 million in 2024 and USD 114.1 Mn by 2029, growing at a CAGR of 7.5% from 2024 to 2029. With the increasing companion animal population and growing concern regarding pets, the market is predicted to grow steadily.
Over time, many kinds of surgical instruments and tools have been invented. To help veterinarians treat animals, surgical instruments designed to perform specific actions during a surgery or operation have been manufactured. The number of pet owners, as well as the companion animal population, is on the rise. The number of veterinary practitioners is also increasing.
Factors such as growing companion animal population coupled with pet insurance, increasing individual awareness regarding animal health, and rising animal health expenditure in Latin America drive the veterinary surgical devices market forward in Latin America. Also, the increase in the number of veterinary practitioners and the rise in their income levels in developed regions assists the regional market growth.
Furthermore, the growing adoption of advancements in veterinary surgical techniques, Y-o-Y growth of the livestock industry, the expansion of veterinary hospitals and clinics and the development of advanced surgical instruments are contributing to the expansion of the Latin American market. The favourable regulations and policies from the governments of Latin America, advancements in the animal research sector, the expansion of the veterinary pharmaceutical industry and the growing availability of advanced diagnostic tools in Latin America are aiding the regional market growth.
Conversely, a limited number of veterinarians in many developing regions and high pet care costs are likely to limit the growth rate of the Latin American market. Limited access to advanced veterinary care in rural areas, poor awareness about advanced veterinary surgical options competition from alternative treatment methods are impeding the growth of the Latin American market.
Besides, increasing awareness among individuals in developing regions regarding animal health provides great future potential.
Latin America Veterinary Surgical Devices Market - By Animals
Regionally, Brazil is leading the market while Argentina is in second place. The higher adoption rate and the Higher pet adoption rate has favored 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 a major share in the market.
Companies that play a promising role in the Latin America veterinary surgical devices market profiled in this report are 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. and Surgical Direct.
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