The Global Veterinary Electrosurgery Industry is poised for remarkable growth, currently standing at a valuation of US$ 520.32 million in 2023. Forecasts indicate a sustained upward trajectory, with an anticipated average Compound Annual Growth Rate (CAGR) of 6.7% from 2023 to 2033. This promising trajectory is set to propel the market past the US$ 995.2 million mark by 2033.
The Global Veterinary Electrosurgery Industry’s consistent expansion is indicative of the increasing adoption of advanced technologies in veterinary care. As veterinarians seek more efficient and precise surgical procedures, electrosurgery emerges as a pivotal technology driving this evolution.
The COVID-19 pandemic created several obstacles for the animal industry. This includes pet owners, animal health companies, veterinarians, and veterinary hospitals. Owing to stringent lockdown norms, the limited operation of veterinary hospitals and clinics resulted in a decline in veterinary visits, thus impacting the market. However, the industry responded well to the pandemic by deploying supportive measures to ensure access to veterinary care and other services.
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Furthermore, development in veterinary surgery has always followed in the footsteps of human surgery. Innovative techniques of surgeries to make them less painful is driving the growth of the market. In addition, the proliferation of government administrations associated with animal healthcare and even distinct animal healthcare organizations will surge the demand for treatments across developing nations. These organizations focus on animals in sanctuaries and zoos. This, in turn, will boost the market growth.
On the contrary, the time taken for approvals for medication and instruments required for surgeries is derailing the progress of the market. In addition, the constant emergence of newer ailments amongst animals is a continuous challenge faced by the Global Veterinary Electrosurgery Industry.
Key Takeaways from the Market Study
- The veterinary electrosurgery is expected to garner a market value of USD 993.41 Million by registering a CAGR of 7% in the forecast period 2022-2032.
- By product, consumables and accessories segment is expected to register a CAGR of more than 15% for the veterinary electrosurgery market during the forecast period.
- By animal, small animals are expected to possess a 65% market share for the veterinary electrosurgery market during the forecast period.
- By end use, veterinary hospitals and clinics segment is expected to hold a market share of more than 80% in the forecast period 2022-2032.
- By application, general surgery is expected to possess a market share of nearly 30% market share in 2022-2032.
- U.S is projected to register a CAGR of 8% during the forecast period.
- U.K. is anticipated to grow at 9% CAGR for veterinary electrosurgery.
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Competitive Landscape
Key players in the global veterinary electrosurgery include Symmetry Surgical Inc, CVS Group, KARL STORZ, Avante Animal Health, B. Braun Melsungen AG, Medtronic, Summit Hill Laboratories, Kwanza Veterinary, Burtons Medical Equipment Ltd, EICKEMEYER and Macan Manufacturing. Some of the recent developments in the global market are:
- In June 2021, CVS Group announced the planning of a new state-of-the-art specialist veterinary hospital in Bristol. The hospital will open in 2022 with modern technology and treatments in all disciplines, including orthopedics, general surgery, internal medicine, neurology, and neurosurgery, among others.
- Medtronic, a key player in the market is focusing on developing instruments that will be technologically advanced to fasten the process of general surgeries for animals.
More Valuable Insights Available
FMI, in its new offering, presents an unbiased analysis of the global market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights by product (Bipolar Electrosurgery Instruments, Monopolar Electrosurgery Instruments, Consumables & Accessories), Animal Type (Small Animal, Large Animal), application (General Surgery, Dental Surgery, Gynecological & Urological Surgery, Orthopedic Surgery, Others), End Use (Veterinary Hospitals and Clinics, Others) & Region Forecast till 2032
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Key Segments Covered
Global Veterinary Electrosurgery Industry by Product:
- Bipolar Veterinary Electrosurgery Instruments
- Monopolar Veterinary Electrosurgery Instruments
- Veterinary Electrosurgery Consumables & Accessories
Global Veterinary Electrosurgery Industry by Animal Type:
- Veterinary Electrosurgery for Small Animals
- Veterinary Electrosurgery for Large Animals
Global Veterinary Electrosurgery Industry by Application:
- General Veterinary Electrosurgery
- Dental Veterinary Electrosurgery
- Gynecological & Urological Veterinary Electrosurgery
- Orthopedic Veterinary Electrosurgery
- Other Veterinary Electrosurgery Applications
Global Veterinary Electrosurgery Industry by End Use:
- Veterinary Electrosurgery across Veterinary Hospitals And Clinics
- Veterinary Electrosurgery across Other End Users
Global Veterinary Electrosurgery Industry by Region:
- North America Veterinary Electrosurgery Market
- Latin America Veterinary Electrosurgery Market
- Europe Veterinary Electrosurgery Market
- Asia Pacific Veterinary Electrosurgery 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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