Veterinary Electrosurgery Industry Poised for 7% CAGR, Surpassing US$ 993.41 Million by 2032 | FMI

The global veterinary electrosurgery industry, valued at US$ 471.96 million in 2021, is poised for remarkable growth, projected to surge to US$ 993.41 million by 2032, boasting a 7% Compound Annual Growth Rate (CAGR) throughout the forecast period.

The COVID-19 pandemic posed unprecedented challenges to the animal industry, affecting pet owners, animal health companies, veterinarians, and veterinary hospitals. Stringent lockdown measures led to limited veterinary hospital and clinic operations, causing a decline in veterinary visits, which impacted the market.

In response to the pandemic, the veterinary electrosurgery industry demonstrated resilience by implementing supportive measures to ensure continued access to veterinary care and related services.

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Furthermore, development in veterinary surgery has always followed in the footsteps of human surgery. Innovative techniques of surgeries to make them less painful is driving the growth of the market. In addition, the proliferation of government administrations associated with animal healthcare and even distinct animal healthcare organizations will surge the demand for treatments across developing nations. These organizations focus on animals in sanctuaries and zoos. This, in turn, will boost the market growth.

On the contrary, the time taken for approvals for medication and instruments required for surgeries is derailing the progress of the market. In addition, the constant emergence of newer ailments amongst animals is a continuous challenge faced by the veterinary electrosurgery industry.

Key Takeaways from the Market Study

• The veterinary electrosurgery is expected to garner a market value of USD 993.41 Million by registering a CAGR of 7% in the forecast period 2022-2032.
• By product, consumables and accessories segment is expected to register a CAGR of more than 15% for the veterinary electrosurgery market during the forecast period.
• By animal, small animals are expected to possess a 65% market share for the veterinary electrosurgery industry during the forecast period.
• By end use, veterinary hospitals and clinics segment is expected to hold a market share of more than 80% in the forecast period 2022-2032.
• By application, general surgery is expected to possess a market share of nearly 30% market share in 2022-2032.
• U.S is projected to register a CAGR of 8% during the forecast period.
• U.K. is anticipated to grow at 9% CAGR for veterinary electrosurgery.

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Competitive Landscape

Key players in the global veterinary electrosurgery include Symmetry Surgical Inc, CVS Group, KARL STORZ, Avante Animal Health, B. Braun Melsungen AG, Medtronic, Summit Hill Laboratories, Kwanza Veterinary, Burtons Medical Equipment Ltd, EICKEMEYER and Macan Manufacturing. Some of the recent developments in the global market are:

• In June 2021, CVS Group announced the planning of a new state-of-the-art specialist veterinary hospital in Bristol. The hospital will open in 2022 with modern technology and treatments in all disciplines, including orthopedics, general surgery, internal medicine, neurology, and neurosurgery, among others.
• Medtronic, a key player in the market is focusing on developing instruments that will be technologically advanced to fasten the process of general surgeries for animals.

More Valuable Insights Available

FMI, in its new offering, presents an unbiased analysis of the global market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.

The study reveals essential insights by product (Bipolar Electrosurgery Instruments, Monopolar Electrosurgery Instruments, Consumables & Accessories), Animal Type (Small Animal, Large Animal), application (General Surgery, Dental Surgery, Gynecological & Urological Surgery, Orthopedic Surgery, Others), End Use (Veterinary Hospitals and Clinics, Others) & Region Forecast till 2032

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Key Segments Covered 

Veterinary Electrosurgery Industry by Product:

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

Veterinary Electrosurgery Industry by Animal Type:

• Veterinary Electrosurgery for Small Animals
• Veterinary Electrosurgery for Large Animals

Veterinary Electrosurgery Industry by Application:

• General Veterinary Electrosurgery
• Dental Veterinary Electrosurgery
• Gynecological & Urological Veterinary Electrosurgery
• Orthopedic Veterinary Electrosurgery
• Other Veterinary Electrosurgery Applications

Veterinary Electrosurgery Industry by End Use:

• Veterinary Electrosurgery across Veterinary Hospitals And Clinics
• Veterinary Electrosurgery across Other End Users

Veterinary Electrosurgery Industry by Region:

• North America Veterinary Electrosurgery Market
• Latin America Veterinary Electrosurgery Industry
• Europe Veterinary Electrosurgery Market
• Asia Pacific Veterinary Electrosurgery Industry

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