Veterinary Endoscopy Devices Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI4038
Veterinary Endoscopy Devices Market size is projected to experience significant growth from 2019 to 2025.
Growing demand for diagnosis of various gastrointestinal conditions in companion animals is one of the major factors leading to veterinary endoscopy devices market growth. Rising prevalence of various digestive disorders in companion and livestock animals such as coccidiosis, diarrhea, melena, and indigestion will lead to higher demand for endoscopic procedures. Additionally, increasing animal healthcare expenditure will further boost demand for veterinary endoscopy devices market growth in the future.
Increasing demand for minimally invasive diagnostic procedures will spur the demand for veterinary endoscopes across the forecast timeframe. Wide array of advantages of veterinary endoscopes include diagnostic and therapeutic application such as stone removal, foreign body retrieval and feeding tube placement. Moreover, various technological advancements and increasing rate of animal adoption will drive the veterinary endoscopy devices market.
However, high cost of endoscopy devices may restrain market expansion in the future. Also, low penetration in developing and underdeveloped countries coupled with lack of awareness pertaining to animal healthcare may hamper industry growth.
Capsule endoscope segment is expected to show significant growth during the analysis period. Capsule endoscope offers valuable insights to the veterinary specialists and does not involves animal sedation. Moreover, ease of handling of capsule endoscopes coupled with quick & short diagnosis will stimulate market growth. Additionally, miniaturization and various technological advancements will further propel business growth in the future.
Companion animals segment is expected to dominate the overall market across the forecast timeframe. High growth rate is attributable to significant spending on pet care products and treatment in developed countries of North America and Europe. Moreover, increasing companion animal adoption rate coupled with rising expenditure on diagnosis and treatment of various animal gastrointestinal disorders will be conducive to market growth in the future.
Veterinary hospitals segment is expected to show substantial growth rate from 2019 to 2025. Availability of trained veterinarians, sophisticated endoscopes, and pet insurance compliance are the key drivers for the segment growth. Also, growing preference towards veterinary hospitals for diagnosis and treatment of various gastrointestinal disorders due to high awareness rate in developed countries will boost business growth.
The U.S. is expected to show lucrative growth in the veterinary endoscopy devices market in the future. Factors, such as increasing per capita animal healthcare expenditure and rising pet adoption will boost the market growth. Additionally, high pervasiveness of various gastrointestinal disorders such as coccidiosis, diarrhea, melena, and indigestion will further boost the demand for veterinary endoscopy devices in the country.
Germany veterinary endoscopy devices market will show steady growth rate across the forecast timeframe. Increasing prevalence of inflammatory enteropathies leading to chronic diarrhea and other gastrointestinal disorders will foster the adoption rate of veterinary endoscopes in the country. Additionally, endoscopes offer faster-healing and less painful alternatives to common procedures, thus leading to market growth in the country.
Some of the key industry players include Biovision Veterinary Endoscopy, LLC., Dr. Fritz GmbH, DRE Veterinary, Fujifilm Holdings Corporation, Infiniti Medical., Karl Storz SE & Co. KG, Olympus Corporation, Pentax Medical, STERIS, Welch Allyn. Key strategies adopted by the industry players include innovative product launch, partnerships, collaborations, strategic mergers, and geographic expansion to expand their business product portfolio.
Veterinary Endoscopy Devices Market by Product, 2014-2025 (USD Million)
- Flexible Endoscopes
- Fiber Optic Endoscopes
- Video Endoscopes
- Rigid Endoscopes
- Robot Assisted Endoscopes
Veterinary Endoscopy Devices Market by Animal Type, 2014-2025 (USD Million)
- Companion Animals
- Livestock Animals
Veterinary Endoscopy Devices Market by End-use, 2014-2025 (USD Million)
- Veterinary Hospitals
- Veterinary Clinics
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- South Africa
- Saudi Arabia
- Biovision Veterinary Endoscopy, LLC
- Dr. Fritz GmbH
- DRE Veterinary
- Fujifilm Holdings Corporation
- Infiniti Medical.
- KARL STORZ SE & Co. KG
- OLYMPUS CORPORATION
- Pentax Medical
- STERIS, Instrument Management Services, Inc.
- Welch Allyn
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