Newark, May 13, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 217.9 million veterinary endoscopy devices market will reach USD 405.2 million by 2033. Recent improvements in animal healthcare and diagnostic technologies have led to a notable increase in the global veterinary endoscopy market. Veterinary endoscopy uses minimally invasive methods to inspect an animal's interior structures for therapeutic and diagnostic purposes. Numerous advantages come with this method, such as lower patient anxiety levels, quicker healing periods, and accurate anatomical region visualisation.
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The increasing demand for superior animal care drives the market's growth. Veterinary endoscopic techniques are used because of pet owners' growing desire to provide their companion animals with cutting-edge medical services. The industry has also grown due to increased disposable income and pet insurance coverage since pet owners are now more ready to spend on cutting-edge medical care. Innovations in technology have been crucial in forming the commercial environment. Diagnostic accuracy has increased due to imaging technology developments, including high-definition video endoscopy and capsule endoscopy. Furthermore, the range of applications has expanded to include large cattle and tiny companion animals due to the development of specialised endoscopic tools and attachments adapted to diverse animal sizes and anatomies.
Scope of Veterinary Endoscopy Devices Market
| Report Coverage | Details |
| CAGR | 6.4% from 2024 to 2033 |
| Market Size in 2023 | USD 217.9 million |
| Market Size by 2033 | USD 405.2 million |
| Largest Market | North America |
| Base Year | 2023 |
| Forecast Year | 2024 to 2033 |
| Historical Year | 2020-2022 |
| Segments Covered | Product, Procedure, Application |
North America will account for the largest market size during the forecast period.
The increasing adoption of companion animals, the rising incidence of zoonotic diseases, the presence of major market players who are propelling advancements in veterinary endoscope technology, and the availability of sophisticated veterinary healthcare infrastructure in the region are the main factors driving the growth of the veterinary endoscopy market.
The rigid endoscopes segment dominated the market with the most significant revenue of USD 74.0 million.
The rigid endoscopes segment dominated the market with the most significant revenue of USD 74.0 million. Examining the stomach and intestines is usually done with flexible scopes, according to South Carolina Veterinary Specialists & Emergency Care. Rigid endoscopes, on the other hand, examine the female urinary tract, reproductive tract, and nasal passages. Rigid endoscopes can be used for examination and biopsies of the liver, pericardium, and other abdominal and thoracic organs.
The gastrointestinal procedures segment dominated the market with the most significant revenue of USD 61.0 million.
The gastrointestinal procedures segment dominated the market with the most significant revenue of USD 61.0 million. Endoscopic inspections and treatments of animals' digestive tracts comprise one of the world's largest markets for veterinary endoscopy: digestive operations. This is because digestive issues are prevalent in animals, particularly dogs and cats, and these conditions often necessitate the removal of foreign substances and diagnostic and therapeutic operations for conditions like inflammatory bowel disease.
The diagnostic application segment dominated the market with the most significant revenue of USD 124.2 million.
The diagnostic application segment dominated the market with the most significant revenue of USD 124.2 million. Endoscopes are utilised in animal diagnostic procedures, including laparoscopic liver and kidney biopsies and otoscopy diagnostic sampling.
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Market Dynamics:
Drivers: Increasing demand for minimally invasive procedures
Significant technological and product developments have occurred in the veterinary endoscopy devices market. More sophisticated endoscopic tools, such as rigid and flexible endoscopes with enhanced manoeuvrability, high-definition imaging systems, and customised attachments for different procedures, are examples of this. These breakthroughs have improved the precision and minimal invasiveness of treatments performed by veterinarians, improving patient outcomes and the general efficiency of veterinary offices.
Restraint: High cost
Acquisition and upkeep of veterinary endoscopy devices can be costly in terms of initial investment and continuing maintenance requirements. This can be difficult, especially for smaller vet clinics with tighter finances.
Opportunity: Technological advancements and product innovations
There have been notable product and technological advances in the veterinary endoscopy devices market. This includes creating increasingly sophisticated endoscopic tools, like rigid and flexible endoscopes with enhanced manoeuvrability, high-definition imaging systems, and customised accessories for different procedures. These developments have improved patient outcomes and the general effectiveness of veterinary services by enabling veterinarians to carry out more accurate and least intrusive operations.
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Some of the major players operating in the veterinary endoscopy devices market are:
● Dr. Fritz Endoscopy GmbH
● Eickemeyer Veterinary Equipment
● Olympus Corporation
● Zhuhai Seesheen Medical Technology Co. Ltd
● eKuore
● Biovision Veterinary Endoscopy LLC
● Medtronic PLC
● Karl Storz SE & Co. KG
● Steris PLC
● MDS Veterinary
Key Segments cover in the market:
By Product:
● Robot-Assisted Endoscopes
● Flexible Endoscopes
● Rigid Endoscopes
● Others
By Procedure:
● Laparoscopy
● Colonoscopy
● Bronchoscopy
● Gastrointestinal Procedures
● Others
By Application:
● Surgical Application
● Diagnostic Application
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About the report:
The global veterinary endoscopy devices market is analyzed based on value (USD million). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company that provides actionable insights through data analytics to companies to improve their business acumen. They have a robust forecasting and estimation model to meet the client's objectives of high-quality output within a short period. They provide both customized (client-specific) and syndicate reports. Their repository of syndicate reports is diverse across all the categories and sub-categories across domains. Their customized solutions meet the client's requirements whether they are looking to expand or planning to launch a new product in the global market.
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