The global Veterinary Electrosurgery Market size is expected to reach USD 906.7 million by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.9% from 2022 to 2030. Growing pet population, adoption of pet insurance in, increasing veterinary care costs, and humanization of pets are some of the key drivers of this market.
The COVID-19 pandemic presented several challenges for
the animal industry including pet owners, animal health companies,
veterinarians, and veterinary hospitals. However, the industry soon began to
respond to the pandemic by deploying supportive measures to ensure access to
veterinary care and other services. Owing to stringent lockdown norms, limited
operation of veterinary hospitals and clinics has seen which consequently
resulted in a decline of veterinary visits, thus impacting the market. However,
the veterinary visits have shown V-shaped recovery during the 3rd quarter
of 2020 due to the resumption of pet clinic visits and ease of norms.
The dramatic upsurge in the number of veterinary
hospitals around the globe along with the rising choice to follow veterinary
practices will improve veterinary electrosurgery industry. For instance, 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.
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. Thus, supports
market growth. Furthermore, development in veterinary surgery has always
followed in the footsteps of human surgery, as innovative techniques were
usually initially developed in animals, before being used in both fields. In
less than 50 years, veterinary surgery has gone from survival surgery intended
to avoid death, often to the detriment of function, to preventive surgery. The
future of veterinary surgery is often observed as the present of its human
counterpart. Thus, supports in market growth.
Related Press Release@ Veterinary Electrosurgery Market Report
Veterinary Electrosurgery Market
Report Highlights
- Consumables and accessories showed the fastest growing market owing
to increased usage of consumables in veterinary surgeries
- Under the animal type segment, small animal held the major share in
2021. The growth can be attributed to increasing pet insurance and growing
companion ownership
- The general surgery segment held the largest revenue share in 2021
owing to the large volume of these type surgeries, such as soft-tissue
surgeries, etc.
- The others segment is expected to show the fastest growth over the
forecast period due to their rapidity, efficiency and identification, and
development of new surgery methods
- North America is expected to emerge as the dominant region in this
market space over the forecast period. The U.S. is observed to have
highest number of companies dealing in this space, which in turn, has
contributed to the large share of regional market
- The market is fragmented with many big and small industry players.
Key players are adopting business strategies such as business expansion,
joint ventures, and others
- In July 2020, Onemytis 2, new type of electrosurgical instrument
was launched in the U.K. Onemytis has gained a significant recognition
from veterinary surgeons in Europe over the previous couple of years
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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