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The veterinary endoscopy devices market size is valued to increase by USD 157.37 million, at a CAGR of 8.31% from 2023 to 2028. Increasing adoption of pets will drive the veterinary endoscopy devices market.
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The veterinary endoscopy devices industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The veterinary hospitals and clinics segment is estimated to witness significant growth during the forecast period.
The market is experiencing robust growth, with veterinary hospitals and clinics being a significant and dynamic segment. These establishments rely heavily on advanced diagnostic and therapeutic tools, and endoscopy devices have become essential. The market is fueled by increasing pet ownership, rising awareness of advanced veterinary procedures, and the demand for minimally invasive options. With pets being considered as family members, their healthcare needs mirror those of humans. Endoscopy devices facilitate various procedures, such as gastrointestinal endoscopy, respiratory endoscopy, and urinary endoscopy. These include flexible and rigid endoscopes, high-definition endoscopy, endoscope cameras, and image processing algorithms.
Key accessories include endoscope sterilization systems, endoscope insertion tubes, biopsy forceps, endoscopic retrieval systems, and endoscopic stents. The market also encompasses therapeutic endoscopy devices like endoscopic mucosal resection, surgical endoscopy devices, endoscopic ultrasound, and endoscopic injection systems. The market's evolution is marked by innovations like capsule endoscopy, video endoscopy systems, laparoscopic endoscopy, robotic endoscopy, and wireless endoscopes. Quality control metrics play a vital role in ensuring the effectiveness and safety of these devices. The market's growth is projected to continue, with a recent study estimating a 7.5% CAGR from 2021 to 2028.
The Veterinary hospitals and clinics segment was valued at USD 142.07 million in 2018 and showed a gradual increase during the forecast period.
North America is estimated to contribute 47% to the growth of the global market during the forecast period.Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The market is witnessing significant growth, driven by the increasing adoption of pets and the expanding awareness about animal health and welfare. According to Orvis pet adoption statistics, approximately 60% of US households owned a pet animal in 2021, with over 6.5 million companion animals entering shelters annually, and 3.2 million of these animals being adopted. Among these, dogs are the most popular pets, accounting for 53% of all pets.
The North American region dominates the market, with its large pet population and growing recognition of the diverse applications of endoscopic devices in veterinary practices. This trend is further fueled by operational efficiency gains and cost reductions, making endoscopy procedures increasingly accessible and affordable for veterinary clinics.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The market is experiencing significant growth due to the increasing demand for minimally invasive procedures in animals. Advanced endoscopic instruments and high-resolution endoscopic imaging techniques have revolutionized veterinary surgery, enabling image-guided endoscopic interventions and endoscopic biopsy techniques for accurate diagnostics. Sterilization methods for veterinary endoscopy devices are crucial for ensuring patient safety and regulatory compliance. Quality control measures and maintenance protocols are essential for optimizing the performance and longevity of these devices. The impact of endoscopy on veterinary surgical outcomes is undeniable, with endoscopic ultrasound applications providing valuable diagnostic information for various conditions. Flexible and rigid endoscopes each have their advantages, with flexible endoscopes offering greater maneuverability and rigid endoscopes providing superior imaging and access to specific areas. Endoscopic camera technology continues to advance, enabling high-definition visualization and wireless capabilities. Robotic-assisted endoscopy and capsule endoscopy are emerging trends in veterinary medicine, offering minimally invasive alternatives to traditional surgical procedures. Training programs for veterinarians are increasingly focusing on advanced endoscopic techniques to ensure proficiency and safety. Cost-effectiveness and workflow improvement strategies are critical considerations for veterinary practices adopting endoscopic technology. Minimizing complications during procedures is a top priority, with ongoing research and development focused on wireless endoscopy devices and other innovative solutions. Regulatory compliance is a key factor in the market, with strict guidelines ensuring the safety and efficacy of these devices for animal patients. As the market continues to grow, the focus on innovation and training will be essential for meeting the evolving needs of veterinary medicine.
The veterinary endoscopy devices market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the veterinary endoscopy devices market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape of Veterinary Endoscopy Devices Industry
Companies are implementing various strategies, such as strategic alliances, veterinary endoscopy devices market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.
Albert Waeschle Ltd. - This company specializes in providing advanced veterinary endoscopy devices, including the Proscope SPU 670, Adtemp 418N, Satin, and Adlite Plus models. Their product offerings cater to various diagnostic and therapeutic applications in the veterinary field, enhancing animal healthcare solutions.
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Dive into Technavio's robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Veterinary Endoscopy Devices Market insights. See full methodology.
Market Scope |
|
Report Coverage |
Details |
Page number |
161 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.31% |
Market growth 2024-2028 |
USD 157.37 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
7.63 |
Key countries |
US, Canada, Germany, UK, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
What is the expected growth of the Veterinary Endoscopy Devices Market between 2024 and 2028?
USD 157.37 million, at a CAGR of 8.31%
What segmentation does the market report cover?
The report is segmented by End-user (Veterinary hospitals and clinics and Research institutes), Product (Flexible endoscopes, Rigid endoscopes, and Other endoscopes), and Geography (North America, Europe, Asia, and Rest of World (ROW))
Which regions are analyzed in the report?
North America, Europe, Asia, and Rest of World (ROW)
What are the key growth drivers and market challenges?
Increasing adoption of pets, High costs associated with veterinary endoscopy
Who are the major players in the Veterinary Endoscopy Devices Market?
Albert Waeschle Ltd., American Diagnostic Corp., Avante Health Solutions, B.Braun SE, Baxter International Inc., Biovision Veterinary Endoscopy LLC, Chip Ideas Electronics S.L., Dr. Fritz Endoscopes GmbH, Eickemeyer Medical technology for veterinarians KG, Endoscopy Support Services Inc., Healicom Medical Equipment Co. Ltd., Jorgen Kruuse AS, KARL STORZ SE and Co. KG, KIRCHNER and WILHELM plus GmbH Co. KG, MDS Inc., Medtronic Plc, STERIS plc, Sumitomo Mitsui Financial Group, SyncVision Technology Corp., and Zhejiang MDKingdom Technology Co. Ltd.
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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