The Global Veterinary Endoscopes Market size is expected to reach $248.926 million by 2027, rising at a market growth of 8% CAGR during the forecast period.
An endoscope refers to a device that consists of a flexible tube with a video camera attachment, which is embedded into the stomach or other parts of the body via the colon or mouth. In the majority of cases, endoscopy is conducted for diagnostic purposes, like sampling and visualization abnormalities.
Factors such as the increase in the pet population, high demand for minimally invasive surgeries in animals, the rising adoption rate of this device by clinics to increase revenue, constant technological developments, and rising awareness regarding animal diseases and treatment options are expected to accelerate the market growth. Among the different kinds of veterinary endoscopes, video-endoscopy systems would gain high popularity due to their advantages like real-time image display on a digital screen and application in complicated procedures.
The veterinary endoscopes market was negatively impacted by the outbreak of the COVID-19 pandemic due to the low demand and sales. This was due to the disruptions in the supply chain, deferred or canceled veterinary procedures, declined veterinary visits, and restrictions in movement. As per the survey by the American Veterinary Medical Association in 2000, 18% of the respondent veterinary practice owners were observing only emergency-related cases owing to the pandemic and the subsequent lockdown measures. Three-fifth of the practices was canceled owing to the global pandemic.
In the last few years, endoscopy devices have witnessed several developments due to the product improvements and application of video imaging technology. Many key market players are introducing innovations in animal care by combining improved animal diagnosis and surgery technologies & devices. These advanced devices are helping veterinarians to practice and provide the best possible services to their pet patients.
The increase in cases of gastrointestinal parasitism infection that cause pain, oedema, and diarrhea is estimated to fuel the demand for veterinary endoscopes in the market. In addition, digestive problems are very common among the dogs along with vomiting, diarrhea, constipation, concurrent vomiting with diarrhea, and anorexia. Due to the growing prevalence of these diseases among the animals, the requirement for the medical devices like endoscopes would also surge in the upcoming years.
The penetration of veterinary endoscopes is very low in emerging and underdeveloped nations, which is projected to hinder the growth of the overall veterinary endoscopes market over the forecast period. There is a large population of low-income level people in the underdeveloped nations, which restricts them from using such treatment procedures for their pets. It is difficult for these people to invest a huge amount in such procedures, which is hindering the growth of the overall veterinary endoscopes market.
Based on Animal Type, the market is segmented into Large Animals and Small Animals. The small animals segment is likely to exhibit the highest growth rate during the forecasting period. This is attributed to the factors like a surge in pet population and spending, developments in veterinary medicine and diagnosis, and easy availability of veterinary endoscopes for different types of applications.
Based on the Type, the market is segregated into Rigid, Flexible, and Others. In 2020, the rigid endoscopes segment acquired the maximum revenue share of the overall veterinary endoscopes market. According to the South Carolina Veterinary Specialists & Emergency Care, among the two primary kinds of veterinary endoscopes, rigid endoscopes are generally utilized to analyze the nasal passages, reproductive tracts, and female urinary.
Based on Application, the market is bifurcated into Diagnostic and Surgical/ interventional. In 2020, the diagnostic segment procured a substantial revenue share of the market. Veterinary endoscopes are used in various diagnostic applications like liver or kidney biopsies throughout laparoscopy, diagnostic sampling throughout otoscopy.
Based on Procedure, the market is divided into Respiratory Endoscopy, Gastrointestinal tract Endoscopy, Urinary & genital tract Endoscopy, Abdominal Endoscopy, ENT Endoscopy, and Others (Arthroscopy). In 2020, the gastrointestinal tract endoscopy garnered a substantial revenue share. Factors such as rise in diagnostic and interventional procedures conducted to secure the health of livestock and companion animals.
| Report Attribute | Details |
|---|---|
| Market size value in 2020 | USD 134.9 Million |
| Market size forecast in 2027 | USD 248.9 Million |
| Base Year | 2020 |
| Historical Period | 2017 to 2019 |
| Forecast Period | 2021 to 2027 |
| Revenue Growth Rate | CAGR of 8% from 2021 to 2027 |
| Number of Pages | 250 |
| Number of Tables | 450 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Animal Type, Type, Application, Procedure, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. In 2020, North America emerged as the leading region of the overall veterinary endoscopes market. Factors such as the rise in cases of diseases in animals, broader acceptance of pet insurance, and the humanization of pets are responsible for the growth of the regional market.
Free Valuable Insights: Global Veterinary Endoscopes Market size to reach USD 248.9 Million by 2027
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include B. Braun Melsungen AG, FUJIFILM Sonosite, Inc. (Fujifilm Holdings Corporation), Olympus Corporation, Steris PLC, Hill-Rom Holdings, Inc. (Welch Allyn), Firefly Global, Advanced Monitors Corporation, Dr. Fritz Endoscopes GmbH, Eickemeyer – Medizintechnik für Tierärzte KG, and Karl Storz SE & Co. KG.
By Animal Type
By Type
By Application
By Procedure
By Geography
The global veterinary endoscopes market size is expected to reach $248.926 million by 2027.
Rising demand for minimally invasive procedures for pets are driving the market in coming years, however, less penetration of veterinary endoscopes in developing and underdeveloped nations limited the growth of the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include B. Braun Melsungen AG, FUJIFILM Sonosite, Inc. (Fujifilm Holdings Corporation), Olympus Corporation, Steris PLC, Hill-Rom Holdings, Inc. (Welch Allyn), Firefly Global, Advanced Monitors Corporation, Dr. Fritz Endoscopes GmbH, Eickemeyer – Medizintechnik für Tierärzte KG, and Karl Storz SE & Co. KG.
The expected CAGR of the veterinary endoscopes market is 8% from 2021 to 2027.
The surgical/interventional segment would display the fastest growth rate over the forecasting years. This is credited to the growing number of minimally invasive surgeries in animals.
The North America market dominated the Global Veterinary Endoscopes Market by Region 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $89,040.9 Thousands by 2027.
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