Dublin, December 23, 2021 (GLOBE NEWSWIRE) – The “Veterinary Endoscope Market Analysis Report By Type (Rigid, Flexible), By Animal Type, By Application (Diagnostic, Surgical), By Procedure, By Region, And Segment Forecasts, 2021-2028” Report was added to ResearchAndMarkets.com to offer.
The global veterinary endoscope market is forecast to reach USD 314.2 million by 2028 and grow at a significant annual growth rate of 6.6% from 2021 to 2028
The key factors for growth include increasing diagnostic and interventional procedures for companion and farm animals as well as technological progress.
The COVID-19 pandemic has had a negative impact on the market. Manufacturers and other market players experienced low demand and sales due to multiple challenges such as supply chain bottlenecks, reduced sales and marketing activities, and restricted movement. In particular, lockdown measures carried out at national and regional level led to a reduced number of patients in veterinary clinics and veterinary clinics. This dampened the demand for veterinary equipment including endoscopes.
According to an April 2020 survey of veterinary practices conducted by the American Veterinary Medical Association, almost all respondents saw a decrease in customer traffic. Practice owners reported an estimated average monthly cash shortage of approximately $ 17,000 due to declining sales and costs incurred to ensure business continuity. However, patient volumes and sales began to recover in the second half of 2020 as movement restrictions were relaxed.
Technological advances in veterinary endoscopes and growing demand for less painful, minimally invasive pet procedures by pet parents are expected to fuel market growth over the forecast period. The German company KARL STORZ SE & Co. KG, for example, offers an extensive portfolio of rigid and flexible veterinary endoscopes, including large animal video endoscopes, Hopkins telescopes, EquiVeo video endoscopes, uretero-reno fiberscopes, otoscopes, small animal fiberscopes, hysteroscopes, rigid Multipurpose telescopes and others. These endoscopes are designed to meet the needs of various procedures and with animals of different sizes.
Veterinary Endoscopes Market Report Highlights
The story goes on
Rigid Endoscopes dominated the market by Type in 2020 while the other segment is expected to grow the fastest CAGR of 8.4% over the forecast period
This is due to the increased use of veterinary endoscopes in laparoscopies and gastrointestinal tract endoscopies and the demand for endoscopes that can be easily maneuvered to access body cavities of the animal
For example, Point Gray Veterinary Hospital in Vancouver, Canada uses a fiber optic endoscope to perform endoscopy of areas such as the stomach, trachea, and colon without surgery. Some of the most common procedures performed with endoscopes include exams and biopsies of the stomach and gastrointestinal tract, removing items from the stomach, placing feeding tubes, and examining the upper respiratory tract
According to animal species, large animals had the largest market share in 2020 with over 50%. The small animal segment, on the other hand, is expected to grow at the fastest annual growth rate in the coming years
This can be attributed to factors such as increasing animal health concerns, pet spending, and the humanization of pets
North America dominated the market regionally due to the presence of a large number of veterinary clinics and clinics that offer endoscopy as part of their range of services
Key topics covered:
Chapter 1 Methodology and Scope
Chapter 2 Summary
Chapter 3 Veterinary Endoscope Market Variables, Trends, and Scope
Chapter 4 COVID-19 Impact Analysis
Chapter 5 Veterinary Endoscope Market: Segment Analysis by Type, 2016-2028 (MILLION USD)
Chapter 6 Veterinary Endoscope Market: Segment Analysis by Animal Type, 2016-2028 (MILLION USD)
Chapter 7 Veterinary Endoscopes Market: Segment Analysis by Application, 2016-2028 (MILLION USD)
Chapter 8 Veterinary Endoscopes Market: Segment Analysis by Procedure, 2016-2028 (MILLION USD)
Chapter 9 Veterinary Endoscopes Market: Regional Market Analysis 2016-2028 (MILLION USD)
Chapter 10 Veterinary Endoscopes Market Competitive Analysis
Chapter 11 Veterinary Endoscope Market Company Profiles
KARL STORZ SE & Co. KG
Advanced Monitors Corporation
Dr. Fritz Endoskope GmbH
Zhuhai Seesheen Medical Technology Co., Ltd.
Biovision Veterinary Endoscopy, LLC
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