Small Animals to Accelerate the Growth of Veterinary Electrosurgery Market, capturing a Market Share Worth 65% | Future Market Insights, Inc.

• Consumables and accessories are set to grow at a CAGR exceeding 15% in the veterinary electrosurgery market.
• Small animals are expected to claim a substantial 65% market share in this segment during the forecast period.

NEWARK, Del., Oct. 10, 2023 /PRNewswire/ -- The global veterinary electrosurgery market garnered a market value of USD 471.96 Million in 2021 and is expected to secure USD 505.32 Million by 2022. The market is expected to accumulate USD 993.41 Million by 2032 while expanding at a CAGR of 6.7% during the forecast period from 2022 to 2032. The market's growth can be attributed to the demand for pet health insurance and the increasing adoption of pet animals.

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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, 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.

Furthermore, development in veterinary surgery has always followed human surgery's footsteps. Innovative techniques of surgeries to make them less painful drive the market's growth. 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 market's progress. In addition, the constant emergence of newer ailments amongst animals is a continuous challenge faced by the veterinary electrosurgery market.

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% 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.

Veterinary Electrosurgery Market Analysis by Segment:

 

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"Increasing investments in adopting pets along with government initiatives to maintain animal health is driving the growth of veterinary electrosurgery market," Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.).

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 veterinary electrosurgery 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 veterinary electrosurgery 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 veterinary electrosurgery market, presenting historical market data (2017-2021) and forecast statistics for 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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The healthcare division at FMI provides an in-depth historical analysis and granular projections of the healthcare sector. From packaging materials to designs & formats, FMI has an exhaustive market research database, serving clients with unique offerings and strategic recommendations. With a repository of 750+ reports, the team analyzed the packaging industry comprehensively in 70+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.

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About the 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.

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