Global Veterinary Endoscope Market Set for Robust Growth: Projected Value to Reach USD 625.3 Million by 2034

The global veterinary endoscope market is on the rise, with estimated sales valued at USD 286.9 million in 2024, and projections indicating a significant increase to USD 625.3 million by 2034. This growth reflects a robust compound annual growth rate (CAGR) of 8.10% throughout the forecast period from 2024 to 2034.

In 2023, the veterinary endoscope industry generated USD 265.4 million, and sales are expected to show a year-on-year growth of 8.10% in 2024. This upward trajectory is driven by the growing preference for minimally invasive diagnostic and surgical procedures in veterinary practices.

Veterinary endoscopes play a crucial role in diagnosing and conducting minimal surgeries on pets, providing a less painful alternative to traditional open surgeries. The adoption of endoscopic procedures has soared due to their associated benefits, including reduced pain and quicker recovery times for animals.

The market is categorized by various procedure types, with gastrointestinal endoscopy leading the sector, capturing 43.2% of the market share, closely followed by arthroscopy. Notably, the diagnosis segment has significantly contributed to revenue growth, accounting for 69.3% of total earnings. These versatile endoscopes cater to both large and small animals and can be designed in rigid, flexible, or other forms.

As veterinary practices increasingly embrace advanced technologies, the demand for veterinary endoscopes is expected to grow, enhancing the quality of care for pets and contributing to the overall health of animals worldwide.

Key Takeaways:

• The global sales of veterinary endoscopes are estimated to be worth USD 286.9 million in 2024.
• The industry is anticipated to exhibit a year-over-year (Y-o-Y) growth of 8.10% in 2024.
• The global sales of veterinary endoscopes are anticipated to reach a value of USD 625.3 million by 2034.
• Sales are projected to rise at a Compound Annual Growth Rate (CAGR) of 8.10% over the forecast period between 2024 and 2034.
• With an expected CAGR of 8.1%, China is projected to have the highest growth rate among the listed countries.
• Following closely behind, South Korea is anticipated to experience a CAGR of 6.4%.
• Canada is expected to have a moderate growth rate of 4.4%.
• France is projected to have a similar growth rate of 4.1%.
• Italy is expected to have a slightly lower growth rate of 3.7%.
• Japan is projected to have a lower growth rate of 3.3%.
• Germany is expected to have the lowest growth rate among the listed countries, at 2.5%.

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Competitive Landscape:

Key players in the veterinary endoscopes market are actively investing in the development of innovative endoscope technologies. Many companies are employing strategies such as mergers and acquisitions to enhance their market presence and expand operations. Additionally, market participants are collaborating with others along the value chain to improve patient care.

Recent Developments in the Veterinary Endoscopes Market

• June 2024: Asensus Surgical, Inc. and Karl Storz Endoscopy-America, Inc. announced a merger agreement, with Karl Storz expected to acquire all outstanding shares of Asensus Surgical for USD 0.35 per share in cash.
• November 2022: OmniVision launched the OH02B square two-megapixel (1,500 MP x 1,500 MP) resolution image sensor, designed for both reusable and disposable endoscopes.
• January 2021: Steris entered into an agreement to acquire Cantel through its U.S. subsidiary, in a cash and stock transaction valued at USD 84.66 per Cantel common share.
• January 2022: IMV Technologies acquired VES Custom Optics (VESCO) based in L’Aigle, France.

Key Players of Veterinary Endoscopes Industry:

• Steris
• MDS Incorporated
• Firefly Global
• eKuore
• KARL STORZ SE & Co. KG
• Advanced Monitors Corporation
• Dr. Fritz Endoscopes GmbH
• Zhuhai Seesheen Medical Technology Co., Ltd.
• Biovision Veterinary Endoscopy, LLC
• Eickemeyer

Key Segments of Veterinary Endoscopes Industry:

By Type:

In terms of type, the industry is divided into rigid, flexible, and other types.

By Animal:

The industry is classified by animal into large animals and small animals.

By Application:

By Application, the industry is bifurcated into surgical/ interventional and diagnostic.

By Procedure:

The industry is classified by procedure into arthroscopy, respiratory endoscopy, gastrointestinal endoscopy, urinary & genital tract endoscopy, abdominal endoscopy, ENT endoscopy, and other procedure types.

By Region:

Key countries of North America, Latin America, East Asia, South Asia, Western Europe, Eastern Europe, and Middle East and Africa (MEA), have been covered in the report.

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