(PharmaNewsWire.Com, May 27, 2020 ) The global veterinary surgical instruments market is fragmented in nature. The market is dominated by B. Braun Vet Care GmbH (Germany), Medtronic Plc. (Ireland), Ethicon Inc. (U.S.), and JORGEN KRUUSEA/S (Denmark) which together accounted for ~50-55% of the global market in 2015.
The leading position of B. Braun Vet Care GmbH (Germany) in this market is majorly attributed to its strong product portfolio, wide geographic presence, and strong distribution and services network across the globe. Moreover, the company has a diversified revenue system, which helps it to sustain its leading position in the market. The company primarily focuses on strengthening its extensive global sales network with the help of a dedicated team of specialist sales representatives. The company also focuses on entering into partnership with other market players in emerging markets such as Asia and Latin America, for understanding the regional market needs and improving product efficacy. In addition, the company also offers clinical education for veterinary professionals, which helps increase the adoption of company’s products among veterinary professionals. It also provides the repair and maintenance services that help the company garner a strong customer base. The company has a diversified revenue system which helps it to sustain its leading position in the market.
Medtronic Plc. (Ireland) held the second-largest share in the veterinary surgical instruments market in 2015. With diversified distribution channels, the company has a strong presence in the global veterinary surgical instruments market. Medtronic focuses on maintaining its market position through the development of innovative technologies. Furthermore, the company emphasizes on enhancing its global presence by means of organic growth. For instance, in 2015, Medtronic acquired Covidien plc (Ireland), a global healthcare company, which significantly expanded Medtronic’s product portfolio and geographical presence
Ethicon Inc. (U.S.) held third-largest share in the global veterinary surgical instruments market in 2015. To strengthen its market position, the company focuses on enhancing and upgrading its product portfolio in the rapidly evolving animal safety market. The company invests heavily in research and development as a part of its growth strategy. High investments in R&D enable the company to develop new and advanced products for various medical markets, including wound care. The company has a strong sales and distribution network in the U.S., Europe, Asia-Pacific, and Africa, which helps it to cater to product demands as well as provide efficient services all over the world. Furthermore, the company focuses on strategic expansions in emerging economies such as China to capture growth opportunities in high-growth markets
Jorgen Kruuse A/S (Denmark) held fourth-largest share in the global veterinary surgical instruments market in 2015. To enhance its market share, the company focuses on expanding and upgrading its range of products. The company has a strong presence worldwide through more than 350 distributors across 100 countries. In order to increase its market share, the company utilizes latest technologies to serve its customers across the globe. The company also participates in major international congresses across the globe. These meetings discuss the latest innovations in technologies and provide significant opportunities to customers, such as veterinary healthcare practitioners and academic trainers for exchanging their experiences. This helps the company in developing technologically advanced products for customers’ unmet requirements, thereby strengthening its market position
Industry players adopted the strategy of mergers and acquisitions to achieve growth in the global veterinary surgical instruments market. For instance, Neogen Corporation (U.S.) acquired SyrVet Incorporated (Iowa) in July 2013 followed by Prima Tech Incorporated (U.S.) in November during the same year. STERIS Corporation (U.S.) acquired the shares of Integrated Medical Systems International, Inc. (U.S.), along with two privately owned businesses, Spectrum Surgical Instruments Corp (U.S.) and Total Repair Express (U.S.) in the year 2012.
In addition, the new product launches were pursued by global players to garner a larger share in the global veterinary surgical instruments market. In this regard, JORGEN KRUUSE A/S launched the new Aesculight CO2 surgical laser for human and veterinary surgeries over the traditional scalpel blade, in March 2012. It also launched new disposables needles and syringes and InfuVein IV Catheters with a range of new features like extra sharp facet shaped needles for the purpose of easy penetration and less pain. DRE Veterinary (U.S.), in December 2012, launched two new models of Full Digital Veterinary Ultrasound Systems. Similarly in February 2016, it launched a new veterinary radiology unit - DRE Stationary DR X-ray System.
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