Veterinary Endoscopy Market

SKU: DMVH5609 | Last Updated On: Sep 23 2022 | Available Formats

>Veterinary Endoscopy Market Expected to reach a high CAGR 6.6% By 2029:

Veterinary Endoscopy Market is Segmented By Product Type (Flexible Endoscopes, Capsule Endoscopes, Rigid Endoscopes, Robot-assisted Endoscopes), By Animal Type (Livestock, Companion), By End-user (Veterinary Hospitals, Academic Institutes, Other End Users), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029.

Veterinary Endoscopy Market size was valued US$ 429.3 million in 2021 and is estimated to reach US$ XX million by 2029, growing at a CAGR of 6.6% during the forecast period (2022-2029).

The veterinary electrosurgical devices are used for surgical cutting or to control the bleeding by causing coagulation at the surgical site. Electrosurgery devices like electrodes, probes, coagulators, and other devices use high-frequency alternating currents to perform their respective functions.

Veterinary Endoscopy Market Dynamics

The veterinary electrosurgery market is driven by the various factors such as increasing adoption of pet animals, rising demand for pet health insurance, growing technological advancements and surge in government initiatives.

Increasing expenditure in animal healthcare and rising adoption of pet animals are expected to drive market growth.

The major driving force rising demand for the pet health insurance. Rising adoption of pet animals is expected to boost the demand for surgeries of animals over the period of forecast. For instance, as per the report by the American Veterinary Medical Association (AVMA) in 2017, around 68% of the household has pets in the US. Thus, the rising adoption of pet animals is driving the veterinary electrosurgery market.

Increasing expenditure of animal healthcare is leading to the growth of veterinary surgeries, thus driving the growth of the veterinary electrosurgery market. For instance, as per the American Pet Products Association's 2017-18 National Pet Owners Survey, about USD 474 and USD 245 were spent annually on veterinary surgical services for dogs and cats, respectively in 2017. Thus, the high expenditure on pet care and veterinary services is driving the market.

Moreover, the growing adoption of companion animals and increasing government initiatives to prevent zoonotic diseases, and product innovations are poised to boost the market growth. For instance, as per the report by the European External Action Service (EEAS) in 2019, the European government has invested USD 5.6 million in animal healthcare expenditure. Thus, the presence of government initiatives is driving the market.

The increasing number of practitioners and the technological advancements in devices are expected to boost the growth of the market. For instance, as per the American Veterinary Medical Association, a total of 170,531 veterinary practitioners were present in the US in 2019 as compared to 137,995 in 2018. Thus, the growing number of veterinary practitioners is driving the market.

High cost associated with the surgical procedures are expected to hamper the market growth.

The high cost of surgeries is expected to hamper the global veterinary electrosurgery market. According to Canna-Pet, the global pioneer of hemp CBD for pets, when it comes to canine cataract surgery, older dogs are often most affected. Younger dogs can have cataracts too, but that's usually because they are born with them. Cataracts require surgery to remove, and pricing can range anywhere from $1500-$3000. Also, Spay or Neuter Surgery requires around $150 to $250. Thus, the high cost of surgeries is likely to hamper the market.

Industry Analysis

The global veterinary electrosurgery market provides in-depth analysis of the market based on various industry factors such as porter’s five forces, regulatory analysis, supply chain analysis, pricing analysis and unmet needs.

Veterinary Endoscopy Market Segment Analysis

Dental surgery segment is expected to hold the largest market share in global veterinary electrosurgery market

By product, the market is segmented into bipolar electrosurgery instruments, monopolar electrosurgery instruments, and consumables & accessories.

The electrosurgery instrument segment is expected to grow at a high rate during the forecast period owing to the advantages like accuracy, secure handling, high sensitivity, and rapid healing by electrode pencils. The bipolar electrosurgical instruments segment is expected to boost the growth of the market, owing to the steep sale price of bipolar electrosurgery instruments as compared to the monopolar electrosurgical instruments and the increased adoption of bipolar devices in animal surgeries.

The consumables and accessories segment is expected to grow at a high rate in the veterinary electrosurgery market over the forecast period. The increasing demand for monopolar and bipolar electrosurgical instruments is expected to drive the use of consumables & accessories, leading to an increased number of product launches. For instance, on May 13, 2019, Olympus, has announced the 510(k) clearance of ESG-150 Electrosurgery Generator. Electrosurgical generators supply the high-frequency electrical current which powers several endoscopic devices. The new ESG-150 possesses features that enhance both patient safety and ease of use, the pillars on which the ESG-150 has been designed. Thus, the rising number of product launches of consumables and accessories is driving the market.

Based on application, the market has been segmented into general surgery, gynecological & urological surgery, dental surgery, orthopedic surgery, ophthalmic surgery, and other applications.

The dental surgery segment is expected to boost the market owing to increasing awareness among pet owners regarding the dental health of their pets. Moreover, the growing incidence of periodontal diseases and the technological advancements in dental devices are estimated to contribute to the growth of the segment. For instance, as per a report by the Australian and American Veterinary Dental Societies, in 2019, more than 70% of cats and 80% of dogs developed gum diseases at the age of three. Also, according to the study by the American Pet Products Association 2021, more than half of US dog owners take care of their pet’s teeth, and they are twice as likely as cat owners to purchase dental care products and services at their veterinarian’s office. Thus, the growing incidence of periodontal diseases and increased expenditure on animal dental healthcare is driving the market.

The orthopedic surgery segment is expected to grow at a significant rate owing to increasing expenditure on animal orthopedic healthcare and the growing demand for orthopedic surgeons. As per the Association for Pet Obesity Prevention report 2021, 54% of dogs and 59% of cats in the US suffered from overweight or obesity, which may lead to some orthopedic disease in them. The US Bureau of Labor Statistics projects 36 % job growth in the veterinary orthopedic surgeon’s field, through 2020, well above the average growth of 14 % for all jobs. The presence of recent product launches is anticipated to boost the market. Thus, the growing expenditure on animal orthopedic healthcare, leading to rising demand for orthopedic surgeons is driving the market.

The general surgery segment is expected to boost the market over the forecast period. This is owing to the large volume of general surgeries, like soft-tissue surgeries and sterilization procedures, performed in small and large animals.

Based on animal, the market has been segmented into large animals and small animals.

The large animal segment is expected to boost the veterinary electrosurgery market over the forecast period, owing to the rising prevalence of chronic diseases of equine animals, the increasing awareness among the government animal healthcare organizations, and the growing animal healthcare spending in developing countries. For instance, WHO is engaging in various activities to address the health threats at the human-animal-ecosystem interface, including antimicrobial resistance, food-borne zoonoses, and food safety. This is expected to create a rise in the need for better treatment facilities for companion animals.

The small animal segment is expected to grow at a high rate during the forecast period owing to the rising small animal ownership and increasing demand for efficient animal care. As per the Humane Society of the US, around 60.2 million US households had at least one dog in 2019. Thus, increasing small animal ownership is driving the market.

Based on end-user, the veterinary electrosurgery market is segmented into veterinary hospitals, veterinary clinics, and other end users.

The veterinary hospital's segment is expected to dominate in the end-user segment. The adoption of the veterinary electrosurgical instruments is higher in the veterinary hospitals owing to the greater purchasing power and the higher volume of surgeries performed in the hospitals.

Veterinary Endoscopy Market Scope

Metrics

Details

Market CAGR

6.6%

Segments Covered

By Product Type,  By Animal Type, By End-user, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

To get free sample click here

Veterinary Endoscopy Market Geographical Analysis

North America region holds the largest market share in the global veterinary electrosurgery market

Geographically, the global veterinary electrosurgery market is segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

North America is dominating the global veterinary electrosurgery market and is estimated to hold significant market size over the forecast period owing to the rising adoption of companion animals, rising pet insurance industry, rising veterinary healthcare expenditure, and the growing number of veterinary practices.

Increasing collective efforts by key players to improve their product portfolio and ensure high-quality standards are likely to boost the demand for veterinary electrosurgical equipment across the region. For instance, In January 2019, BioMedtrix, one of the critical player in the US, partnered with the Laboratorios Macrimasa-Vet as an exclusive distributor of the Universal Hip (Micro and Nano Hip), TPLO Curve and I-Loc IM Fixator in Spain.

Also, the rising demand for pet insurance has been bolstering the growth of the market. According to American Pet Products Association report 2021, around 50 million dogs and 56 million cats are over-weight or are obese. According to NAPHIA, there are around 12 major pet insurance companies in North America. Thus, the rising demand for pet insurance is driving the market.

The rising expenditure on animal healthcare are likely to boost the growth of the segment. For instance, in 2017, US pet owners spent USD 15.42 billion on veterinary surgeries, according to a report by the (AMVA) American Veterinary Medical Association.

The Asia Pacific market is expected to grow at the highest CAGR over the forecast period. The growing demand for animal-derived food products, the growing pet insurance, and surging adoption of companion animals are expected to support the growth of the market in Asia-Pacific over the forecast period. For instance, as per the Japan Pet Food Association survey 2021, in Oct 2020, there were approx. 8.5 million dogs and 9.6 million cats and the pet insurance market reached USD 650 million in March 2020, which was a 40% increase from 2017. Thus, the growing pet insurance is driving the market.

Veterinary Endoscopy Market Competitive Landscape

The key players operating in the global veterinary electrosurgery market are B. Braun Vet Care, Dre Veterinary, Eickemeyer Veterinary Equipment, Inc., Led Spa, Medtronic PLC, Summit Hill Laboratories, Bovie Medical Corporation, Burtons Medical Equipment Ltd, and Special Medical Technology Co., Ltd., ALSA apparecchi medical s.r.l.

The key players are adopting various strategies such as product launches, mergers & acquisitions, partnerships, and collaborations, which are contributing to the growth of the veterinary electrosurgery market globally. For instance,

In Aug 2022, Henry Schein, Inc. announced its acquisition of Midway Dental Supply, full-service dental distributor serving in United States.

In 2021, DRE Veterinary announced its partnership with Avante health solutions. They will together work and empower their equipment buying power, expand their teams, take advantage of their partner relationship and develop new products in their portfolio.

In 2020, Covetrus invested in VSG. They will enhance patient care and veterinary practices that will help veterinarian in business.

In Jan 2020, Symmetry Surgical Inc. announced its acquisition of the O.R. Company. It develop and markets good quality and innovative surgical devices.

Global Veterinary Electrosurgery Market – Key Companies to Watch

B. Braun Vet Care:

Overview: B. Braun is German company that manufactures medical and pharmaceuticals device. Headquartered in Melsungen, Germany and founded in 1839. They provide services in around 60 countries that employees around 63,000 people. They have around 5,000 variety of healthcare products.

Product Portfolio:

GN 300: Micro and macro power range bipolar coagulation. Coagulation is crucial for surgical procedure. It is used to prevent necrosis, vessel perforation and tissue adhesion.

The global veterinary electrosurgery market report would provide an access to an approx. 45+market data Table, 40+Figures and 180pages.

Frequently Asked Questions

What is the Projected CAGR value of the Veterinary Endoscopy Market?

Veterinary Endoscopy Market is expected to grow at a CAGR of 6.6% during the forecasting period 2022-2029.

Which region controlled the global market during 2022-2029?

North America region Controls the Veterinary Endoscopy Market during 2022-2029

Which is the fastest growing region in the Veterinary Endoscopy Market?

Among all regions, Asia Pacific is the fastest growing market share during the forecast period 

 

Did not find what you were looking for?Every 7 out of 10 customers request tailored reports. Get yours today!
We collate your requirements.
Our global research team is put into action.
We deliver, and make sure your endeavour is a success!

Buy This Report

20% Discount Applied*



Note*: For "Bundle/Bulk" Subscription of Reports,
please contact: [email protected]

Get your free sample proposal with a single click!

linkedinpinterest