USD 203.43 million
Veterinary Endoscopy Market Size, Share, Growth Analysis, By Product(Flexible Endoscopes, Rigid Endoscopes, Robot-Assisted Endoscopes, and Others), By Procedure(Bronchoscopy, Laparoscopy, Gastrointestinal procedures, Colonoscopy), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35J2084 |
Region:
Global |
Published Date: March, 2024
Pages:
219
|Tables:
66
|Figures:
81
Veterinary Endoscopy Market Insights
Global Veterinary Endoscopy Market size was valued at USD 203.43 million in 2022 and is poised to grow from USD 217.45 million in 2023 to USD 370.55 million by 2031, growing at a CAGR of 6.89% in the forecast period (2024-2031).
The Global Veterinary Endoscopy Market has exhibited significant growth in recent years, driven by advancements in veterinary healthcare and diagnostic technologies. Veterinary endoscopy involves the use of minimally invasive procedures to examine the internal structures of animals for diagnostic and therapeutic purposes. This approach offers numerous benefits, including reduced patient stress, faster recovery times, and precise visualization of anatomical regions. One of the primary drivers of the market's expansion is the growing demand for high-quality animal care. Pet owners are increasingly seeking advanced medical procedures for their companion animals, propelling the adoption of veterinary endoscopy techniques. Additionally, the rise in pet insurance coverage and disposable income has further fueled the market's growth, as pet owners are more willing to invest in advanced medical treatments. Technological innovations have played a pivotal role in shaping the market landscape. Advancements in imaging technologies, such as high-definition video endoscopy and capsule endoscopy, have enhanced diagnostic accuracy. Moreover, the development of specialized endoscopic instruments and accessories tailored to different animal sizes and anatomies has broadened the scope of applications, ranging from small companion animals to large livestock.
US Veterinary Endoscopy Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Flexible Endoscopes
Fastest Growth
Flexible Endoscopes
Growth Rate
6.89% CAGR
Global Veterinary Endoscopy Market ($ Bn)
Country Share for North America Region (%)
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Veterinary Endoscopy Market Segmental Analysis
The global veterinary endoscopy market is segmented on the basis of Product, Procedure, Application, and region. By Product, the market is segmented into Flexible Endoscopes, Rigid Endoscopes, Robot-Assisted Endoscopes, and Others. By Procedure, the market is segmented into Bronchoscopy, Laparoscopy, Gastrointestinal procedures, Colonoscopy, and Others. By Application, the market is segmented into Diagnostic Application and Surgical Application. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Veterinary Endoscopy Market Analysis By Product
Flexible endoscopes are one of the dominant segments in the veterinary endoscopy market. These devices are versatile and allow for minimally invasive procedures in animals, which is particularly beneficial for examining and treating gastrointestinal issues. The flexibility of these endoscopes allows veterinarians to navigate through the body's internal structures more easily, making them a popular choice for various diagnostic and surgical procedures.
On the other hand, Rigid endoscopes are one of the fastest-growing segments in the veterinary endoscopy market. These devices are known for their durability and high-quality imaging capabilities. While not as flexible as their counterparts, they are particularly well-suited for procedures that require a straight-line view, such as arthroscopy or laparoscopy. Advancements in imaging technology and the increasing demand for precision in veterinary procedures contributed to the growth of this segment.
Veterinary Endoscopy Market Analysis By Procedure
Gastrointestinal procedures, which include endoscopic examinations and interventions in the digestive tract of animals, have been one of the dominant segments in the global veterinary endoscopy market. This is due to the prevalence of gastrointestinal issues in animals, such as dogs and cats, which often require diagnostic and therapeutic procedures for conditions like inflammatory bowel disease, foreign body removal, and more.
On the other hand, Laparoscopy, a minimally invasive surgical technique that involves examining the abdominal cavity with a camera and performing procedures through small incisions, is considered one of the fastest-growing segments in the global veterinary endoscopy market. This growth can be attributed to the benefits of reduced invasiveness, faster recovery times, and decreased postoperative complications associated with laparoscopic procedures. It gained popularity for procedures such as spaying and neutering, biopsies, and organ examinations.
Global Veterinary Endoscopy Market By Product
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Veterinary Endoscopy Market Regional Insights
The global veterinary endoscopy market is analyzed based on its regional presence, which includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. North America is often considered the dominant region in the global veterinary endoscopy market. This dominance is attributed to factors such as the higher adoption of advanced veterinary technologies, a well-established veterinary healthcare infrastructure, and a growing focus on pet healthcare and wellness in countries like the United States and Canada.
As for the fastest growing segment, Asia-Pacific showcases remarkable growth. Asia-Pacific is often highlighted due to its rapidly expanding pet ownership and a rising awareness about advanced veterinary treatments. Emerging economies in this region, such as China and India, are witnessing a surge in middle-class households with disposable income, leading to increased spending on pet healthcare services, including advanced procedures like veterinary endoscopy.
Global Veterinary Endoscopy Market By Geography
- Largest
- Fastest
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Veterinary Endoscopy Market Dynamics
Veterinary Endoscopy Market Drivers
Increasing Pet Ownership and Spending:
- The growing trend of pet ownership, especially in developed countries, has led to increased spending on pet healthcare. Pet owners are increasingly willing to invest in advanced diagnostic and treatment methods like veterinary endoscopy to ensure the well-being of their animals.
Advancements in Veterinary Endoscopy Technology:
- The continuous development of innovative veterinary endoscopy technologies, such as improved imaging quality, smaller and more maneuverable instruments, and better user interfaces, has expanded the capabilities and applications of veterinary endoscopy. These advancements have made the procedures more effective, less invasive, and safer, driving the adoption among veterinarians.
Veterinary Endoscopy Market Restraints
High Costs:
- Acquiring and maintaining veterinary endoscopy equipment can be expensive, including the initial investment in equipment and ongoing maintenance costs. This can pose a challenge, particularly for smaller veterinary practices with limited budgets.
Lack of Skilled Professionals:
- Performing veterinary endoscopy requires specialized training and skills. The shortage of skilled professionals proficient in endoscopic procedures can hinder the widespread adoption of the technology. Training veterinarians and technicians to perform these procedures effectively takes time and resources.
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Veterinary Endoscopy Market Competitive Landscape
The global veterinary endoscopy market boasts a dynamic competitive landscape characterized by several prominent players vying for market share. Leading companies such as Karl Storz SE & Co. KG, Olympus Corporation, and Fujifilm Holdings Corporation dominate the market with their extensive portfolios of advanced veterinary endoscopy equipment and accessories. These key players continually invest in research and development to introduce innovative products, enhancing diagnostic and surgical capabilities in veterinary practices. Additionally, strategic collaborations, acquisitions, and partnerships are common strategies employed by companies to broaden their geographical reach and technological expertise. Emerging players like Eickemeyer Veterinary Equipment and MDS Incorporated are also making strides, intensifying the competition. With an emphasis on cutting-edge technology, product diversification, and expanding global presence, the competition in the veterinary endoscopy market is expected to remain robust, fostering innovation and driving growth in the industry.
Veterinary Endoscopy Market Top Player’s Company Profile
- Eickemeyer Veterinary Equipment Inc. (Germany)
- HOYA Corporation (Japan)
- Infiniti Medical, LLC (USA)
- Steris plc (USA)
- Biovision Veterinary Endoscopy LLC (USA)
- Endoscopy Support Services, Inc. (USA)
- Welch Allyn, Inc. (USA)
- KARLZOOM (China)
- Shenda Veterinary (China)
- Kruuse (Denmark)
- ESS, Inc. (USA)
- Anetic Aid (UK)
- VetOvation (USA)
- Vimex Veterinary (Poland)
- Eickemeyer Veterinary (Germany)
- STERIS Animal Health (USA)
- IDEXX Laboratories, Inc. (USA)
- Vetland Medical Sales and Services, LLC (USA)
- Medtronic (Ireland)
- Smiths Group plc (UK)
- Richard Wolf GmbH (Germany)
- Adeor Medical AG (Switzerland)
- Optomed Oy (Finland)
Veterinary Endoscopy Market Recent Developments
- In January 2023, Karl Storz introduced the new EVIS EXERA III video endoscope system. This system features a high-definition camera with a 360-degree field of view, as well as a number of other features that improve image quality and usability.
- In February 2023, Olympus launched the new GIF-Q180 capsule endoscope. This capsule is smaller and lighter than previous models, making it easier to swallow and pass through the digestive tract.
- In March 2023, Welch Allyn introduced the new VetScan 4000 veterinary endoscopy system. This system features a number of advanced features, such as a high-definition camera, a built-in laser, and a robotic arm.
Veterinary Endoscopy Key Market Trends
- Technological Advancements and Product Innovations: The veterinary endoscopy market has been witnessing significant advancements in technology and product innovations. This includes the development of more advanced endoscopic instruments, such as high-definition imaging systems, flexible and rigid endoscopes with improved maneuverability, and specialized accessories for various procedures. These advancements have allowed veterinarians to perform more precise and minimally invasive procedures, enhancing both patient outcomes and the overall efficiency of veterinary practices.
- Increasing Demand for Minimally Invasive Procedures: Just as in human medicine, the trend towards minimally invasive procedures has gained momentum in veterinary medicine. Minimally invasive techniques, facilitated by endoscopic procedures, offer numerous benefits to both animals and their owners, including shorter recovery times, reduced pain, and smaller incisions. This trend is driven by pet owners' increasing awareness of available treatment options and their willingness to opt for less invasive procedures whenever possible. As a result, veterinary professionals have been incorporating endoscopy into a wider range of procedures, from diagnostics to surgeries.
Veterinary Endoscopy Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component types team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global veterinary endoscopy market analysis, the market has been experiencing significant growth due to increasing awareness about animal healthcare, advancements in veterinary medical technology, and a growing demand for minimally invasive procedures for diagnosing and treating animals. Veterinary endoscopy offers benefits like reduced trauma, quicker recovery times, and improved visualization during procedures. The market encompasses various endoscopic equipment such as rigid and flexible endoscopes, visualization systems, and accessories. North America is the key region driving the market, with a high prevalence of pet ownership and veterinary expenditure. Additionally, emerging economies in Asia-Pacific are also contributing to the market's expansion as disposable income and pet adoption rates rise. However, factors such as high costs associated with equipment and limited availability of skilled veterinary endoscopists could pose challenges to market growth. Overall, the global veterinary endoscopy market is poised for continued advancement in the coming years.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 203.43 million |
| Market size value in 2031 | USD 370.55 million |
| Growth Rate | 6.89% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Veterinary Endoscopy Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Veterinary Endoscopy Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Veterinary Endoscopy Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Veterinary Endoscopy Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Veterinary Endoscopy Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Veterinary Endoscopy Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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