Veterinary Electrosurgery Market Product (Bipolar Electrosurgery, Monopolar Electrosurgery, Consumables), Application (General, Dental, Orthopedic, Ophthalmic), Animals (Small, Large), End User (Veterinary Hospitals, Clinics)- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2022-2030

The global Veterinary Electrosurgery market size was estimated at USD 77.6 million in 2022 and is expected to surpass around USD 210.4 million by 2030 and poised to grow at a compound annual growth rate (CAGR) of 11.9% during the forecast period 2022 to 2030. Growth in this market is majorly driven by the rising demand for pet health insurance, rising number of practitioners in developed economies, increasing animal health expenditure, and rising awareness about pet healthcare.

Report Scope of the Veterinary Electrosurgery Market

 Veterinary Electrosurgical Instruments Market Dynamics

Driver: 

A surge in the overall companion animal population and adoption rate has been witnessed globally. According to several studies, having a companion animal is associated with positive health benefits, such as reduced cardiac arrhythmias, normalization of blood pressure, decreased anxiety, greater psychological stability, and improved well-being. Companion animal ownership has increased significantly due to loneliness and the need for companionship in the COVID-19 pandemic. The increasing pet population is expected to drive the demand for pet care products and increase the daily visits to clinics and services, which, in turn, will support the growth of dependent industries such as veterinary electrosurgery.

The advancing risk of obesity, cardiovascular diseases, neurological diseases, osteoarthritis, and dental diseases in companion animals is another critical factor driving the demand for veterinary electrosurgical instruments worldwide.

Restraint: 

Pet ownership rates have increased over the last ten years, so have pet care costs. In the last ten years, pet care costs have increased significantly. The high expenditure is mainly due to the availability of advanced monitoring, diagnostic, and therapeutic procedures in veterinary practices, which, though effective, come with high price tags. Advanced products & procedures play a significant role in treatments; however, the cost of materials and equipment used in these procedures is very high.

The rising number of consultations increase the costs of pet care with veterinary specialists, thereby driving the growth of the overall market. Moreover, the lower income in this profession compared to other advanced-degree professions such as dentistry and law pressurizes veterinary professionals to increase their fees. High pet care costs directly impact the number of visits by pet owners to veterinary facilities, thereby restraining the growth of this market.

Opportunity: 

Companion animal ownership has grown significantly across the globe. This is particularly evident in emerging markets in the Asia Pacific & Latin American countries due to urbanization and an increase in disposable incomes which has expanded access to animal healthcare and enabled owners to spend more on pet care.

The Asia Pacific, Middle Eastern, and Latin American regions are relatively untapped markets for companies compared to Europe and North America. With the surge in the companion animal population and rising animal health expenditure, emerging APAC and Latin American countries are expected to offer significant growth opportunities for the players in the veterinary electrosurgery market.

Challenge: 

The global animal healthcare industry is marked by a shortage of skilled veterinarians and pathologists. This is particularly evident in the emerging markets across the Asia Pacific and Latin America, which show a considerable gap in the demand and supply of veterinary professionals. The demand will increase if poultry, sheep, goats, pigs, and other animals are considered. Similar shortages are observed in other developing countries like Brazil, China, and Southeast Asian countries. Most veterinarians worldwide work in private practices dedicated to companion animals, which leads to a shortage of resources for farm animals or food-producing animals. The lack of skilled veterinarians, especially in developing countries, is a significant factor limiting the uptake of advanced electrosurgery instruments among veterinarians.

“The bipolar electrosurgery instrument segment accounted for the largest share of the market, based on product in 2021.”

Based on products, the veterinary electrosurgical instruments market is segmented into bipolar electrosurgery instruments, monopolar electrosurgery instruments, and consumables & accessories. The large share of bipolar electrosurgery instrument segment is attributed to low risks of patient burns as compared to monopolar electrosurgery, rising adoption of companion animals, and high sales of bipolar surgical instruments.

“General Surgery segment accounted for the largest share of the veterinary electrosurgical instruments market, based on application.”

Based on application, the veterinary electrosurgery market is segmented into general surgery, gynecological and urological surgery, dental surgery, ophthalmic surgery, orthopedic surgery, and other applications. The large share of the general surgery market segment can largely be attributed to increasing number of general surgeries such as sterilization procedures and soft-tissue surgeries, performed on animals and rising cost of vet care.

“Small animals hold the largest share of the veterinary electrosurgical instruments market, by animal type in 2021”

Based on the animal type, the veterinary electrosurgery market is segmented into small animals and large animals. The large share of small animals segment can be attributed to rising prevalence of chronic diseases of equine animals and increasing awareness among government animal healthcare organizations.

“Veterinary clinics segment hold the largest share of the veterinary electrosurgical instruments market, by end user in 2021”

Based on end users, the veterinary electrosurgery market is segmented into veterinary hospitals, veterinary clinics, and other end users. The large share of veterinary clinics can be attributed to high adoption rate of veterinary electrosurgical instruments and rise in the number of vet visits.

North America accounted for the largest share of the veterinary electrosurgical instruments market in 2021

In 2021, North America accounted for the largest share the veterinary electrosurgical instruments market, followed by Europe, Asia Pacific, Latin America, and the Middle East & Africa. The large share of North America can be attributed to the growing veterinary practices, rising veterinary healthcare expenditure, availability of advanced electrosurgical instruments, increase in pet ownership, and increasing pet insurance coverage.

Some of the prominent players in the Veterinary Electrosurgery Market include:  Covetrus, Inc. (US), Medtronic (Ireland), Symmetry Surgical, Inc. (US), B. Braun Vet Care GmbH (Germany), Integra LifeSciences (US), Avante Animal Health (DRE Veterinary) (US), Summit Hill Laboratories (US), Burtons Medical Equipment Limited (UK), Olympus Corporation (Japan), Eickemeyer (Germany), KLS Martin (Germany), Macan Manufacturing (US), XcelLance Medical Technologies Pvt. Ltd. (India), ALSA APPARECCHI MEDICALI SRL (Italy), KENTAMED Ltd. (Europe), Promise Technology Co. Ltd. (China), Shanghai Huifeng Medical Instrument Co. Ltd. (China), Kwanza Veterinary (India), KeeboVet Veterinary Ultrasound Equipment (US), LED SpA (Italy), Special Medical Technology Co. Ltd. (Europe), Beijing Taktvoll Technology Co., Ltd. (China), Nanjing Shouliang Med-Technology Co., Ltd. (China), Alan Electronic Systems Pvt. Ltd. (India), and Deltronix Medical Devices (Brazil).

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Veterinary Electrosurgery market

Global Veterinary Electrosurgery Instruments Market, by Product

• Bipolar Electrosurgery Instruments
• Monopolar Electrosurgery Instruments
• Consumables & Accessories

Global Veterinary Electrosurgery Instruments Market, by Application

• General Surgery
• Gynecological & Urological Surgery
• Dental Surgery
• Ophthalmic Surgery
• Orthopedic Surgery
• Other Applications

Global Veterinary Electrosurgery Instruments Market, by Animal Type

• Small Animals
• Large Animals

Global Veterinary Electrosurgery Instruments Market, by End User

• Veterinary Hospitals
• Veterinary Clinics
• Other End Users

By Geography

North America

• U.S.
• Canada

Europe

• Germany
• France
• United Kingdom
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Southeast Asia
• Rest of Asia Pacific

Latin America

• Brazil
• Rest of Latin America

Middle East & Africa (MEA)

• GCC
• North Africa
• South Africa
• Rest of Middle East & Africa

Key Points Covered in Veterinary Electrosurgery Market Study:

• Growth of Veterinary Electrosurgery in 2022
• Market Estimates and Forecasts (2017-2030)
•  Brand Share and Market Share Analysis
•  Key Drivers and Restraints Shaping Market Growth
•  Segment-wise, Country-wise, and Region-wise Analysis
•  Competition Mapping and Benchmarking
•  Recommendation on Key Winning Strategies
•  COVID-19 Impact on Demand for Veterinary Electrosurgery and How to Navigate
•  Key Product Innovations and Regulatory Climate
•  Veterinary Electrosurgery Consumption Analysis
•  Veterinary Electrosurgery Production Analysis
•  Veterinary Electrosurgery and Management