Veterinary Electrosurgery Industry Overview
|Study Period:||2018 - 2028|
|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
*Disclaimer: Major Players sorted in no particular order
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Veterinary Electrosurgery Market Analysis
The veterinary electrosurgery market is projected to register a CAGR of 4.0% during the forecast period.
Due to the Covid-19 outbreak, a short-term negative impact was observed on the market. The visits to veterinary hospitals and clinics decreased during the initial phase of the pandemic. According to the article “The Initial Months of COVID-19: Dog Owners' Veterinary-Related Concerns” published in February 2021, dog owners feared the COVID-19 infection and spread, which led to a decrease in disease diagnosis for pets. Additionally, the study mentioned above also indicated that, like many other professions, veterinarians were significantly impacted by the onset of COVID-19 in the initial phase of the pandemic. Thus, standard practices such as routine animal checkups, diagnoses, and surgeries were disrupted. These decreased services lowered the veterinary electrosurgery as well. Thereby, hindering the market's growth. However, owing to the increasing adoption of pets during the pandemic, the focus on veterinary services increased. The rising adoption of pets has increased the focus on animal welfare, which may fuel the growth of the studied market. Thus, the COVID-19 pandemic has had a significant impact on the market studied.
The increase in companion animal adoption, rising demand for pet health insurance, and increasing number of veterinary practitioners in developed economies are the major factors attributed to the growth of the veterinary electrosurgery market.
A significant rise in the adoption of pet animals, including dogs, cats, and even horses, as companions of human beings, has been observed over recent years. Moreover, farm animals, including cattle and swine, are also being taken in for various commercial purposes. The developed economies represent a substantially large share of companion animal ownership, owing to the promising economic condition. For example, the Pet Food Manufacturers Association (United Kingdom) reported that in the year 2021, 17 million (59% of) households in the United Kingdom owned a pet. This high volume of pet owners is more concerned and aware of the safety of their pets. This ultimately creates demand for the availability of advanced veterinary services such as electrosurgery devices and products for treatment. This is expected to contribute to the overall market growth during the analysis period.
Furthermore, the developments are increasing in the veterinary services market. For instance, in April 2022, Vimian Group acquired two product portfolios of veterinary surgical instruments and orthopedic implants in the United States. With this acquisition, Vimian entered a new product category with veterinary surgical instrumentation and expanded its portfolio of high-quality orthopedic implants for companion animals. Such developments are expected to fuel market growth over the forecast period.
Moreover, if any companion animal or large animal requires surgery, currently electrosurgery is adopted for veterinary surgery. For instance, as per the data updated by the Copeland Veterinary Hospital in January 2022, during soft-tissue surgery of animals electrosurgery is most preferred. Electrical current can precisely cut biological tissue with lesser blood loss. In hospital operating rooms or during outpatient treatments, electrosurgical devices are routinely utilized during surgical operations to assist prevent blood loss. Thus, the increasing adoption of companion animals globally and the advantages of electrosurgery are hence expected to fuel market growth.
Therefore, the market is expected to witness growth over the forecast period owing to the factors mentioned above. However, the increasing cost of pet care is anticipated to hamper the market growth over the study period.
Veterinary Electrosurgery Industry Segments
As per the scope of the report, electrosurgery basically involves the application of a high-frequency electrical current through an animal’s body. Veterinary electrosurgery devices are used for surgical cutting and for controlling the bleeding in surgical procedures. The Veterinary Electrosurgery Market is segmented by Product (Bipolar Electrosurgical Instruments, Monopolar Electrosurgical Instruments and Consumables & Accessories), Application (General Surgery, Gynecological & Urological Surgery, Dental Surgery, Orthopedic Surgery and Others), Animal Type (Small Animals and Large Animals), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (in USD million) for the above segments.
|Bipolar Electrosurgical Instruments|
|Monopolar Electrosurgical Instruments|
|Consumables & Accessories|
|Gynecological & Urological Surgery|
|By Animal Type|
Veterinary Electrosurgery Market Trends
This section covers the major market trends shaping the Veterinary Electrosurgery Market according to our research experts:
Small Animal Segment is Anticipated to Witness Growth Over the Forecast Period
The small animal segment in the veterinary electrosurgery market is expected to hold a major market share. Factors such as the increasing adoption of companion or pet animals globally coupled with increasing diseases among them are predicted to fuel segment growth during the analysis period.
The research article “A Text-Mining Based Analysis of 100,000 Tumours Affecting Dogs and Cats in the United Kingdom” published in October 2021, stated that when the research was conducted in collaboration with a group of scientists from the United Kingdom and Spain, cancer was found to be a major reason for veterinary consultation in the United Kingdom. Especially in companion animals’ cancer was found to be more prevalent. Thus, the removal of tumors or cancer cells is necessary, which requires surgery. This is expected to create opportunities for electrosurgery among small animals. Thereby, driving the segment growth.
In addition, there has been a higher number of pet adoptions seen globally. But the adoption rate in the European countries is expected to have a positive impact on the studied market growth. As per Cooper Pet Care data updated in January 2022, there were approximately 140 million pet animals in the European Union (including Norway and Switzerland) in 2021. Among those pets, about 64 million were dogs and 76 million were cats. The data updated also reported that Estonia and Lithuania had a good balance of cat and dog populations, whereas Spain shows a much higher preference for dogs with their population surpassing the cat population by 3 million. This shows a high adoption of cats among the countries in various parts of the globe. This is further anticipated to contribute to the segment growth during the forecast period.
Thus, increased adoption of companion animals as pets in developed regions and increasing incidence and prevalence of diseases is expected to drive the segment growth during the analysis period.
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North America is Expected to Dominate the Market during the Forecast Period
North America currently dominates the veterinary electrosurgery market, and it is expected to continue its stronghold for a few more years.
Among the other countries, the United States is expected to retain its significant market share. Factors such as rising animal adoption, a rise in insured pets, and increasing per capita animal healthcare expenditure. The increasing trend of pet adoption, along with the rising insurance for pets in the United States, is predicted to propel market growth. For instance, as per the North American Pet Health Insurance Association (NAPHIA), 4.41 million pets were insured in North America at the end of 2021. Additionally, as per the source mentioned above, the average monthly cost of pet insurance is USD 50 for dogs and USD 28 for cats for plans that cover both accidents and illnesses. Moreover, as per the American Pet Products Association, USD 123.6 billion was spent on pets in the United States in 2021, which increased from around USD 99.0 billion in 2020. This expenditure by pet owners is creating a demand for surgeries for pet treatment. This is further anticipated to create opportunities for veterinary electrosurgery. Thereby, driving the market growth.
Moreover, companion animal or pet ownership is increasing in other countries in the region such as Canada and Mexico recently. The data published by “Pet Keen” in May 2022 shows that an estimated 38% of Canadian households own a cat, while 35% own a dog. Also, the source mentioned above estimated that pet owners in Canada are spending more money on their pets than before. As per the source mentioned above, 17% of pet owners in Canada are willing to spend more than USD 500 every year for their pet healthcare. In addition, several research shows that cancer is more prevalent among pet dogs and cats and hence, awareness about the same is increasing among pet owners. This increasing awareness among pet parents is expected to create demand for veterinary electrosurgery in the country, driving the studied market growth.
Therefore, the aforementioned factors are attributed to the growth of the studied market in North America and are anticipated to witness growth in the region over the forecast period.
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Veterinary Electrosurgery Market Competitor Analysis
The veterinary electrosurgery market is moderately competitive and consists of several major players. In terms of market share, a few of the major players are currently dominating the market. Some of the companies which are currently dominating the market are Symmetry Surgical, Inc., DRE Veterinary, B. Braun Melsungen AG, Medtronic, Eickemeyer Veterinary Equipment Ltd, Summit Hill Laboratories, Kwanza Veterinary, Burtons Medical Equipment, Ltd., and Integra Lifesciences Holdings Corporation, among others.
Veterinary Electrosurgery Market Top Players
Symmetry Surgical, Inc
Avante Health Solutions (DRE Veterinary)
Eickemeyer Veterinary Equipment Ltd
B. Braun SE
*Disclaimer: Major Players sorted in no particular order
Veterinary Electrosurgery Market Recent Developments
- In September 2021, Olympus launched its first devices in the new POWERSEAL family of advanced bipolar surgical energy products. The POWERSEAL Curved Jaw Tissue Sealer and Divider, Double-Action devices meet the all the standards of clinical performance for advanced bipolar surgical energy devices by delivering consistent sealing reliability in an ergonomic, multifunctional design that promotes procedural efficiency.
- In April 2021, SynDaver, an advanced biotechnology company focused on synthetic educational human and animal simulators, launched a new synthetic feline surgical training model. This innovative tool is designed to teach veterinary students how to perform feline spay surgeries without the fear of harming a live patient.
Veterinary Electrosurgery Market Report - Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Demand for Pet Health Insurance
4.2.2 Rising Number of Practitioners in Developed Economies
4.2.3 Growth in Companion Animal Population
4.3 Market Restraints
4.3.1 Rising Pet Care Costs
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Product
5.1.1 Bipolar Electrosurgical Instruments
5.1.2 Monopolar Electrosurgical Instruments
5.1.3 Consumables & Accessories
5.2 By Application
5.2.1 General Surgery
5.2.2 Gynecological & Urological Surgery
5.2.3 Dental Surgery
5.2.4 Orthopedic Surgery
5.3 By Animal Type
5.3.1 Small Animals
5.3.2 Large Animals
5.4.1 North America
126.96.36.199 United States
188.8.131.52 United Kingdom
184.108.40.206 Rest of Europe
220.127.116.11 South Korea
18.104.22.168 Rest of Asia-Pacific
5.4.4 Middle-East and Africa
22.214.171.124 South Africa
126.96.36.199 Rest of Middle-East and Africa
5.4.5 South America
188.8.131.52 Rest of South America
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.1 Symmetry Surgical, Inc.
6.1.2 Avante Health Solutions (DRE Veterinary)
6.1.3 B. Braun SE
6.1.5 Eickemeyer Veterinary Equipment Ltd
6.1.6 Summit Hill Laboratories
6.1.7 Kwanza Veterinary
6.1.8 Burtons Medical Equipment Ltd
6.1.9 Integra Lifesciences Holdings Corporation
6.1.10 Macan Manufacturing
6.1.11 KARL STORZ
6.1.12 Heal Force
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Veterinary Electrosurgery Market Research FAQs
What is the study period of this market?
The Global Veterinary Electrosurgery Market is studied from 2018 - 2028.
What is the growth rate of Global Veterinary Electrosurgery Market ?
The Global Veterinary Electrosurgery Market is growing at a CAGR of 4% over the next 5 years.
Which region has highest growth rate in Global Veterinary Electrosurgery Market ?
Asia Pacific is growing at the highest CAGR over 2018 - 2028.
Which region has largest share in Global Veterinary Electrosurgery Market ?
North America holds highest share in 2021.
Who are the key players in Global Veterinary Electrosurgery Market ?
Symmetry Surgical, Inc, Medtronic, Avante Health Solutions (DRE Veterinary), Eickemeyer Veterinary Equipment Ltd, B. Braun SE are the major companies operating in Global Veterinary Electrosurgery Market .
Global Veterinary Electrosurgery Industry Reports
In-depth industry statistics and market share insights of the Global Veterinary Electrosurgery Market sector for 2020, 2021, and 2022. The Global Veterinary Electrosurgery Market research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Global Veterinary Electrosurgery Market report PDF.