Veterinary Electrosurgery Market Outlook 2031
The global veterinary electrosurgery market size was valued at USD 77 million in 2022 and is expected to surpass USD 150.12 million by 2031, expanding at a substantial CAGR of 7.7% during the forecast period, between 2023 to 2031.
Rising demand for pet insurance and the increasing adoption of companion animals are driving the demand for veterinary electrosurgeries. Veterinary electrosurgical instruments use high-frequency electric currents while performing the surgery. These instruments are used for cutting the tissues and controlling the bleeding by causing coagulation at the surgical site.
Increasing number of surgeries on pets has led to a rise in the demand for veterinary electrosurgery. Pet owners are becoming aware of the benefits of surgical procedures for their pets, which is boosting the number of surgeries performed on pets. This rise in surgical interventions directly translates to an increased demand for veterinary electrosurgery instruments, which are essential for performing precise and effective surgeries. For instance,
The research report finds that the COVID-19 pandemic had a significant impact on the veterinary electrosurgery market. The market has registered a decline in demand, due to the postponement of non-essential veterinary procedures and surgeries during the pandemic. The focus of veterinary practices has shifted towards emergency and critical care services, resulting in a decrease in elective surgeries.
Additionally, the lockdowns and restrictions on movement have led to a reduction in the number of pet visits to veterinary clinics, further impacting the demand for veterinary electrosurgery equipment.
Artificial Intelligence Impact on Veterinary Electrosurgery Market
The use of artificial intelligence (AI) is expected to have a significant impact on the veterinary electrosurgery market. AI-powered electrosurgery systems provide real-time feedback and monitoring during surgical procedures, improving accuracy and reducing the risk of complications.
Furthermore, AI-powered telemedicine and remote consultation services are expected to improve access to veterinary care, particularly in rural or remote areas. This led to increased demand for veterinary electrosurgery equipment, as many pet owners sought treatment options for their pets.
Veterinary Electrosurgery Market Dynamics
Major Drivers
Rising adoption of technologically advanced products for surgeries is driving the demand for veterinary electrosurgery instruments. Advancements in technology have boosted the adoption of innovative surgical products in veterinary medicine. Veterinarians are increasingly seeking technologically advanced instruments that offer enhanced precision, safety, and efficiency during surgeries.
Growing adoption of advanced products is fueling the demand for veterinary electrosurgery instruments, which are known for their precision and versatility in various surgical procedures. Increasing incidences of periodontal problems in pets and demand for improved treatment options are driving the demand for veterinary electrosurgery instruments.
Periodontal problems, such as gum disease, are common in pets and lead to serious health issues if left untreated. Pet owners are becoming concerned about their pet's dental health and seek better treatment options, which is propelling the demand for veterinary electrosurgery instruments. Rising prevalence of infectious diseases in companion animals is expected to drive the demand for veterinary electrosurgery instruments.
Infectious diseases affect companion animals, leading to the need for surgical interventions. Rising prevalence of infectious diseases in companion animals is expected to increase the demand for veterinary electrosurgery instruments.
Existing Restraints
High cost of instruments is expected to hamper the adoption of veterinary electrosurgery instruments. Veterinary electrosurgery instruments have several benefits; however, their high cost poses a challenge to their widespread adoption. The initial investment required to acquire these instruments, along with ongoing maintenance and consumable cost, is a barrier for some veterinary practices or pet owners with limited budgets. This factor is expected to hinder the adoption of veterinary electrosurgery instruments to some extent.
Emerging Opportunities
Expansion of product offerings is expected to create lucrative opportunities in the market. Development of innovative veterinary electrosurgery instruments helps companies expand their product offerings and cater to a wide range of surgical procedures. This leads to increased market share and revenue growth.
Moreover, the rising adoption of telemedicine and remote consultations is expected to create lucrative opportunities for veterinary electrosurgery companies to provide remote surgical support and consultation services to veterinarians. Demand for veterinary services in emerging regions, such as Asia Pacific and Latin America, where pet ownership is on the rise, is growing.
Companies that establish a strong presence in these regions tap into significant growth opportunities. Moreover, collaborating with other companies or organizations in the market helps veterinary electrosurgery companies expand their reach and capabilities. Partnerships with universities or research institutions further leads to the development of technologies and products.
Scope of Veterinary Electrosurgery Market Report
The report on the global veterinary electrosurgery market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.
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Attributes
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Details
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Report Title
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Veterinary Electrosurgery Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Product (Bipolar Electrosurgery Instruments, Monopolar Electrosurgery Instruments, and Consumables & Accessories), Application (General Surgery, Gynecological & Urological Surgery, Dental Surgery, Ophthalmic Surgery, Ophthalmic Surgery, Orthopedic Surgery, and Others), Animal Type (Small Animals and Large Animals), and End-user (Veterinary Hospitals, Veterinary Clinics, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast
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Key Players Covered in the Report
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B. Braun Melsungen AG; Burtons Medical Equipment, Ltd.; CovetrusInc.; Dre Veterinary; Eickemeyer Veterinary Equipment, Inc.; Integra Lifesciences Holdings Corporation; Keebovet Veterinary Ultrasound Equipment; Kwanza Veterinary; Led Spa; Medtronic PLC; Summit Hill Laboratories; and Symmetry Surgical, Inc.
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Veterinary Electrosurgery Market Segment Insights
Product Segment Analysis
In terms of product, the veterinary electrosurgery market is segmented into bipolar electrosurgery instruments, monopolar electrosurgery instruments, and consumables & accessories. The bipolar electrosurgery instruments segment is projected to grow at a significant pace during the forecast period, due to the wide adoption of bipolar instruments, that perform minimally invasive and precise animal surgeries.
The expansion of livestock farming and pet ownership in emerging countries is driving the need for technically advanced surgical tools with tissue sealing capabilities as well as hemostasis.
The consumables & accessories segment is expected to hold a significant share of the market in the coming years. The growth of the segment is attributed to the rising demand for bipolar and monopolar electrosurgical devices.
Animal Segment Analysis
Based on animal type, the market is bifurcated into small animals and large animals. The large animals segment holds a significant share of the market and is projected to expand at a rapid pace during the forecast period. Rise in the adoption of companion animals and increasing awareness among consumers regarding the health of pets are anticipated to drive the demand for veterinary electrosurgery instruments.
Rising demand for animal health insurance, growing number of government initiatives to prevent zoonotic diseases, and product innovations are driving the market.
Application Segment Analysis
On the basis of application, the market is segregated into general surgery, gynecological & urological surgery, dental surgery, ophthalmic surgery, orthopedic surgery, and others. The general surgery segment holds a major share of the market, due to the increasing volume of these surgeries.
Rising demand for soft tissue surgical procedures is propelling the market. The growth of the dental surgery segment is attributed to the increasing incidences of periodontal diseases that use veterinary electrosurgery devices for dental procedures.
End-User Segment Analysis
On the basis of end-user, the veterinary electrosurgery market is fragmented into veterinary hospitals, veterinary clinics, and others. The veterinary hospitals segment is expected to hold a significant share of the market during the forecast period. The adoption of veterinary electrosurgical instruments is high in veterinary hospitals, owing to the high purchasing power of pet owners and the large number of surgeries being performed in hospitals. For instance,
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As per the National Center for Biotechnology Information's report in January 2021, hospitals, on average, conducted 10,000 procedures annually, with 80% of them involving electrosurgery.
Regional Analysis
In terms of region, the global veterinary electrosurgery market is categorized as North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America accounts for a considerable share of the global market. The US is expected to constitute a significant share of the market, owing to an increase in veterinary healthcare expenditure and the growing number of veterinary practices in the country. For instance,
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According to published data by Forbes in June 2023, 66% of the households in the US, accounting for around 86.9 million residents, own pets. High adoption of pets in the country is anticipated to boost the demand for veterinary electrosurgery devices during the forecast period.
Segments
Product
- Bipolar Electrosurgery Instruments
- Monopolar Electrosurgery Instruments
- Consumables and Accessories
Application
- General Surgery
- Gynecological & Urological Surgery
- Dental Surgery
- Ophthalmic Surgery
- Orthopedic Surgery
- Others
End-User
- Veterinary Hospitals
- Veterinary Clinics
- Others
Region
- North America
- Europe
- Latin America
- Asia Pacific
- Middle East & Africa
Key Players
- B. Braun Melsungen AG
- Burtons Medical Equipment, Ltd.
- Covetrus Inc.
- Dre Veterinary
- Eickemeyer Veterinary Equipment, Inc.
- Integra Lifesciences Holdings Corporation
- Keebovet Veterinary Ultrasound Equipment
- Kwanza Veterinary
- Led Spa
- Medtronic PLC
- Summit Hill Laboratories
- Symmetry Surgical, Inc.
Competitive Landscape
Key players in the veterinary electrosurgery market include B. Braun Melsungen AG; Burtons Medical Equipment, Ltd.; Covetrus Inc.; Dre Veterinary; Eickemeyer Veterinary Equipment, Inc.; Integra Lifesciences Holdings Corporation; Keebovet Veterinary Ultrasound Equipment; Kwanza Veterinary; Led Spa; Medtronic PLC; Summit Hill Laboratories; and Symmetry Surgical, Inc. They engage in mergers & acquisitions, collaborations, agreements, and partnerships to strengthen their geographical presence. For instance,
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On November 9, 2023, Zoetis and Adopt a Pet made a joint announcement regarding their pet health partnership. The partnership aims to enhance access to care and resources for pets, rescue shelters, and veterinary healthcare teams through an investment of approximately USD one million.
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In 2020, Kivet Veterinaria SLU, based in Madrid, emerged as the top company in terms of sales value in the veterinary sector in Spain, among key firms, with a revenue of around 9.45 million euros. The second company on the list was Industrias de Nutrición Animal SL, which reported annual sales worth approximately 7.32 million euros.
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