In accordance with the latest analysis report on the Global Veterinary Video Endoscopy Industry, the market’s estimated valuation for the year 2023 is an impressive US$ 266.5 million. What’s even more remarkable is the projected market growth through 2033, boasting a robust Compound Annual Growth Rate (CAGR) of 8.7%. This CAGR far surpasses historical growth rates and points to a highly promising future for the industry. As we look ahead, the veterinary endoscopy market is anticipated to achieve an impressive net worth of US$ 613.8 million by the conclusion of this forecast period.
The surging occurrences of animal diseases and the expanding array of treatment options are identified as the primary driving forces behind the sustained growth of the veterinary endoscopy market. Additionally, the increasing prevalence of pet and companion animal ownership in both advanced and emerging economies is contributing significantly to the expansion of this dynamic market.
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The pandemic had a significant impact on veterinary endoscope sales, causing low demand for veterinary endoscopes in 2020-21. It was primarily caused by supply chain issues, postponed or canceled veterinary procedures, reduced veterinary visits, and movement restrictions.
Key Takeaways from the Global Veterinary Video Endoscopy Industry Study Report
- The United States contributed up to 35% of the revenue generated by veterinary video endoscopy services globally. Furthermore, along with the implementation of insurance policies for pet animals, its share is anticipated to strengthen further.
- The increasing pet population and health concerns are expected to drive the adoption of veterinary endoscopes in Asia.
- Among applications, veterinary video endoscopy for diagnostic purposes is projected to contribute to higher revenue than other segments. This segment is expected to grow at a CAGR of 8.2% until the end of the forecast years.
- Revenue through veterinary video endoscopy for small animals segment is expected to grow at a CAGR of 8.2% through 2033.
- The veterinary video endoscope by flexible endoscopes is projected to witness some significant growth in the next ten years. In contrast, the rigid endoscopes segment held the second spot in the analysis report in terms of year-on-year growth through 2033.
- Due to the advancement and availability of many minimally invasive surgical procedures, surgical endoscopy popularity is growing these days.
Competitive Landscape for the Global Veterinary Video Endoscopy Industry Players
The emergence of many big and small veterinary video endoscopy service providers has made the market fragmented in the last few years. To grow their coverage, market participants are concentrating on putting strategic initiatives into practice such as product development, and portfolio expansion.
Apollo Endosurgery, Inc. is a leader in the field of minimally invasive gastrointestinal and bariatric surgical instruments. Zhuhai Seesheen Medical Technology Co., Ltd., for example, is a Chinese firm that supplies and markets medical endoscopes globally. It also designs and develops endoscopes for veterinary bronchoscopy, rhinolaryngoscopy, and ureteroscopy which are popular products from this company.
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Recent Developments by the Veterinary Video Endoscopy Industries
- In July 2020, eKuore updated the eKuore Vet app to successfully coordinate its selection of veterinary gadgets, including heart monitors, and digital otoscopes. Steris’ is a flagship wireless veterinary video endoscope system developed by this Company which is called the Endo-i system.
- OmniVision Company unveiled a novel image sensor for both disposable and reusable endoscopes named OH02B in November 2022. This new device has a 2 MP resolution which is expected to increase the market competitiveness of the market.
Key Companies Profiled:
- Steris
- MDS Incorporated
- Firefly Global
- eKuore
- KARL STORZ SE & Co. KG
- Advanced Monitors Corporation
- Dr. Fritz Endoscopes GmbH
- Zhuhai Seesheen Medical Technology Co., Ltd.
- Biovision Veterinary Endoscopy, LLC
- Eickemeyer
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Key Segments in Global Veterinary Video Endoscopy Industry Analysis Report
Global Veterinary Video Endoscopy Industry by Solutions:
- Veterinary Video Endoscopy Equipment
- Veterinary Video Endoscopy Accessories or Consumables
- Veterinary Video Endoscopy PACs
- Other Solutions
Global Veterinary Video Endoscopy Industry by Product Type:
- Veterinary Video Endoscopy by Flexible Endoscopes
- Veterinary Video Endoscopy by Rigid Endoscopes
- Veterinary Video Endoscopy by Capsule Endoscopes
- Veterinary Video Endoscopy by Robot-assisted Endoscopes
- Veterinary Video Endoscopy by Other Products
Global Veterinary Video Endoscopy Industry by Animal Type:
- Veterinary Video Endoscopy for Big Animals
- Veterinary Video Endoscopy for Small Animals
- Veterinary Video Endoscopy for Companion Animals
- Veterinary Video Endoscopy for Livestock Animals
- Veterinary Video Endoscopy for Other Animals
Global Veterinary Video Endoscopy Industry by Application:
- Veterinary Video Endoscopy for Diagnostic Applications
- Veterinary Video Endoscopy for Surgical or Interventional Applications
Global Veterinary Video Endoscopy Industry by Procedure:
- Veterinary Video Gastroduodenoscopy
- Veterinary Video Colonoscopy
- Veterinary Video Bronchoscopy
- Veterinary Video Male Urethrocystoscopy
- Veterinary Video Tracheoscopy
- Veterinary Video Laparoscopy
- Veterinary Video Otoscopy
- Veterinary Video Rhinoscopy
- Veterinary Video Thoracoscopy
- Veterinary Video Arthroscopy
- Other Veterinary Video Endoscopy procedures
Global Veterinary Video Endoscopy Industry by End-users:
- Video Endoscopy at Veterinary Clinics
- Video Endoscopy at Veterinary Hospital
- Veterinary Video Endoscopy at Academic Institutes
- Veterinary Video Endoscopy at Other End-users
Global Veterinary Video Endoscopy Industry by Region:
- Veterinary Video Endoscopy Industry in North America Market
- Veterinary Video Endoscopy Industry in Latin America Market
- Veterinary Video Endoscopy Industry in Europe Market
- Veterinary Video Endoscopy Industry in East Asia Market
- Veterinary Video Endoscopy Industry in South Asia and Pacific Market
- Veterinary Video Endoscopy Industry in Middle East and Africa (MEA) Market
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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