DUBLIN--(BUSINESS WIRE)--The "Veterinary Electrosurgery Market by Product (Mopolar Electrosurgery, Bipolar Electrosurgery, Consumables), Application (General, Ophthalmic, Orthopedic, Urologic, Dental surgery), Animals (Large, Small Animals), End-User, Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The Veterinary Electrosurgical Instruments Market is Projected to Reach USD 85 Million by 2024 from USD 56 Million in 2019, at a CAGR of 8.5%.
Growth in the number of veterinary practitioners is expected to drive the veterinary electrosurgical instruments market
Growth in the veterinary electrosurgical instruments market is driven by the rising demand for pet health insurance, growth in the number of veterinary practitioners in developed economies, and growth in the companion animal population. However, the rising cost of pet care is expected to restrain the growth of this market in the coming years.
Consumables & accessories segment to register the highest growth during the forecast period
Based on product, the veterinary electrosurgical instruments market is segmented into bipolar electrosurgical instruments, monopolar electrosurgical instruments, and consumables & accessories. The consumables & accessories segment is expected to witness the highest CAGR in the veterinary electrosurgical instruments market during the forecast period. The increasing demand for monopolar and bipolar electrosurgical instruments will drive the use of consumables & accessories.
General surgery is the largest application segment of the veterinary electrosurgical instruments market
Based on application, the veterinary electrosurgical instruments market is segmented into general surgery, gynecological & urological surgery, dental surgery, ophthalmic surgery, orthopedic surgery, and other applications. In 2018, the general surgery segment accounted for the largest share of the veterinary electrosurgical instruments market. This can be attributed to the large volume of general surgeries, such as soft-tissue surgeries and sterilization procedures, performed in small as well as large animals.
North America will continue to dominate the veterinary electrosurgical instruments market during the forecast period
By region, the veterinary electrosurgical instruments market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2018, North America accounted for the largest share of the veterinary electrosurgical instruments market. The large share of North America can be attributed to the increasing adoption of companion animals, growing pet insurance industry, rising veterinary healthcare expenditure, and the growing number of veterinary practices.
Veterinary Electrosurgery Market Drivers
- Rising Demand for Pet Health Insurance
- Rising Number of Practitioners in Developed Economies
- Growth in Companion Animal Population
- Rising Pet Care Costs
Veterinary Electrosurgery Market Opportunities
- Untapped Emerging Markets
- Low Animal Health Awareness in Emerging Markets
- 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.
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