Subjects: PET, ANW, MRR
Veterinary Electrosurgery Market worth $120 million | MarketsandMarkets
CHICAGO, Oct. 10, 2023 /PRNewswire/ -- The veterinary electrosurgery industry is poised for significant growth in the near future, driven by advancements in technology and an increasing demand for minimally invasive surgical procedures in veterinary medicine. As the global pet population continues to rise and pet owners seek higher standards of care for their animals, veterinarians are increasingly adopting electrosurgical devices for precision and efficiency in procedures such as tissue cutting, coagulation, and ablation. Innovations in electrosurgical instruments and techniques, coupled with a growing awareness of their benefits in reducing post-operative pain and promoting quicker recovery in animals, are expected to fuel the industry's expansion. Additionally, the ongoing development of portable and user-friendly electrosurgical devices tailored to veterinary practices will likely make these tools more accessible to a broader range of veterinary professionals, further propelling the industry's growth in the coming years.
Veterinary Electrosurgery Market in terms of revenue was estimated to be worth $85 million in 2023 and is poised to reach $120 million by 2028, growing at a CAGR of 7.3% from 2023 to 2028 according to a new report by MarketsandMarketstm. The demand for veterinary electrosurgery is increasing due to a number of factors, including the growing pet population, the increasing awareness of the importance of preventive care, and the rising disposable incomes of pet owners. There have been a number of technological advancements in veterinary electrosurgery in recent years, such as the development of bipolar electrosurgery generators and computer-controlled electrosurgery generators. These advancements have made electrosurgery a more versatile and effective surgical technique. In addition to this, the growing demand for minimally invasive surgical procedures in veterinary medicine is also driving the growth of the veterinary electrosurgery market.
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Veterinary Electrosurgery Market Scope:
Report Coverage | Details |
Market Revenue in 2023 | $85 million |
Estimated Value by 2028 | $120 million |
Growth Rate | Poised to grow at a CAGR of 7.3% |
Market Size Available for | 2021?2028 |
Forecast Period | 2023?2028 |
Forecast Units | Value (USD Million) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By product, application, animal type, end user and region. |
Geographies Covered |
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Report Highlights | Updated financial information / product portfolio of players |
Key Market Opportunities | Untapped emerging markets |
Key Market Drivers | Rising number of veterinary practitioners in developed economies |
The bipolar electrosurgical instruments devices segment holds the largest market share during the forecast period.
The veterinary electrosurgery market can be generally divided into monopolar instruments, bipolar instruments, and consumables & accessories. The veterinary electrosurgery market by product will be significantly dominated by the segment of bipolar instruments in 2022. Bipolar electrosurgery is a minimally invasive surgical technique that causes less damage to surrounding tissue and results in shorter recovery times for patients. This makes it an ideal choice for a variety of veterinary surgical procedures, such as spaying and neutering, tumor removal, and wound repair.
The general surgery segment is expected to grow at the highest rate during the forecast period.
General surgery, gynecological & urological surgery, dental surgery, orthopedic surgery, ophthalmic surgery, and other applications are the major application segments in which the veterinary electrosurgery market is widely categorized in this study. The veterinary electrosurgery market for general surgery is primarily driven by the increasing demand for precise, minimally invasive surgical procedures in general surgery. Furthermore, technological advancements, such as AI integration and improved safety features, enhance the efficiency and safety of electrosurgical procedures in general surgery.
In the end-user segment, veterinary clinics are expected to grow at the highest share in the veterinary electrosurgery market.
According to end users, the veterinary electrosurgery market can be classified into three categories: veterinary hospitals, veterinary clinics and other end users. The end users market in 2022 was dominated by the veterinary clinics. The growing implementation of veterinary electrosurgery technology in pet clinics, in addition to rising technological improvements, are factors contributing to the significant share of the market.
North America will continue to dominate the veterinary electrosurgery market in 2028.
On the basis of region, the veterinary electrosurgery market is segmented into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. North America has various advantages?an advanced healthcare system, high public and private healthcare spending, rise in the companion animal population, and the significant presence of prominent players in the region are the major factors contributing to the growth of North America and the largest share of the veterinary electrosurgery market APAC is known to grow at the highest rate. The growth in the market can be attributed to increasing R&D activities, and high growth in the veterinary healthcare industries.
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Veterinary Electrosurgery Market Dynamics:
Drivers:
- Rising number of veterinary practitioners in developed economies
Restraints:
- High cost of veterinary electrosurgery equipment
Opportunities:
- Untapped emerging markets
Challenge:
- Low awareness of animal health in emerging markets
Key Market Players of Antibody Drug Conjugates Industry:
The veterinary electrosurgery market is a consolidated market, the prominent players in the global market include Medtronic (Ireland), B. Braun (Germany), Integra LifeSciences (US), Olympus Corporation (Japan), Covetrus, Inc. (US), Symmetry Surgical, Inc. (US), Avante Animal Health (DRE Veterinary) (US), Summit Hill Laboratories (US), Burtons Medical Equipment Limited (UK), Eickemeyer (Germany), KLS Martin (Germany), Macan Manufacturing (US), XcelLance Medical Technologies Pvt. Ltd. (India), Alsa Apparecchi Medicali SRL (Italy), and Kentamed Ltd. (Europe).
Recent Developments:
- In April 2021, DRE Veterinary (US) partnered with Avante Health Solutions (US). This partnership rebranded DRE Veterinary to Avante Animal Health.
- In December 2020, Covetrus, Inc. (US) constructed a new DACH headquarters in Dusseldorf, Germany. The new headquarters focuses on the asset of Germany, Austria, and Switzerland-based teams and the firm's Central European sites.
- In January 2020, Symmetry Surgical, Inc. (US) acquired O.R. Company (US). The acquisition complements Symmetry's existing instrumentation portfolio and expands its minimally invasive surgical instrument offering.
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Veterinary Electrosurgery Market Advantages:
- Precision and Control: Electrosurgical devices provide precise and controlled cutting, coagulation, and tissue ablation, allowing veterinarians to perform delicate procedures with minimal damage to surrounding tissues.
- Reduced Bleeding: Electrosurgery helps minimize bleeding during surgical procedures by sealing blood vessels as it cuts, which can lead to quicker surgeries and faster patient recovery.
- Minimally Invasive: Electrosurgery is often minimally invasive, resulting in smaller incisions, less pain, and reduced scarring for animals post-surgery.
- Faster Recovery: Due to reduced tissue trauma and post-operative pain, animals tend to recover more quickly after electrosurgical procedures, improving their overall well-being.
- Versatility: Electrosurgical instruments can be adapted for various veterinary procedures, including soft tissue surgeries, dermatological treatments, and ophthalmic surgeries, making them versatile tools in veterinary medicine.
- Lower Risk of Infection: Electrosurgery's ability to generate heat during procedures can help lower the risk of infection by sterilizing the surgical site.
- Improved Visibility: Electrosurgical devices often come with features like smoke evacuation systems, enhancing the surgeon's visibility during surgery.
- Time Efficiency: Electrosurgery can expedite surgical procedures, potentially reducing anesthesia time, which is beneficial for both the patient and the surgical team.
- Widening Adoption: As veterinarians become more familiar with electrosurgical techniques and as the technology becomes more accessible, its adoption is expected to increase, leading to a wider range of applications in veterinary medicine.
- Enhanced Patient Outcomes: Overall, the advantages of electrosurgery contribute to improved patient outcomes, making it a valuable tool for modern veterinary practices and promoting the well-being of animals.
Related Reports:
Veterinary Telemedicine Market - Global Forecasts to 2028
Veterinary API Market - Global Forecasts to 2028
Veterinary Diagnostics Market - Global Forecasts to 2027
Electrosurgery Market - Global Forecasts to 2027
Veterinary Imaging Market - Global Forecasts to 2026
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