Insights on the Veterinary Endoscopy Global Market to 2026 - Players Include Medtronic, Olympus and Steris Among Others - ResearchAndMarkets.com

The most common flexible endoscopic procedures performed both in specialty and general practices are upper and lower GI endoscopy, for direct examination and biopsy of selected areas of the GI tract.

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Provider: 
Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Monday, April 12, 2021
Information
Tags: 
Veterinary, Health, Medicine, Clinical medicine, Medical specialties, Endoscopy, Diagnostic gastroenterology, Medical equipment, Biopsy, Endoscope, Speculum, Esophagogastroduodenoscopy
Geotags: 
NORTH AMERICA, US, UNITED STATES
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Summary
Key Points: 
  • The most common flexible endoscopic procedures performed both in specialty and general practices are upper and lower GI endoscopy, for direct examination and biopsy of selected areas of the GI tract.
  • Companies such as STERIS have experience in Endo-i Veterinary Endoscope repairs, which is one of the significant investments for veterinary practices.
  • Also, the growing pet population along with increasing spending on pet care is fueling the market's growth.
  • Hence, owing to the aforementioned factors, the studied market is expected to witness significant growth in North America over the forecast period.\n"


The "Veterinary Endoscopy Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.


The veterinary endoscopy market was valued at approximately USD 185 million in 2020 and is expected to witness a revenue of USD 258 million in 2026, with a CAGR of 5.5% over the forecast period.

Companies Mentioned

  • Biovision Veterinary Endoscopy LLC
  • Dr. Fritz Endoscopy GmbH
  • Medtronic Plc
  • Eickemeyer Veterinary Equipment
  • B. Braun Melsungen AG
  • Karl Storz SE & Co. KG
  • Olympus Corporation
  • Steris Plc
  • HILL-ROM HOLDINGS INC
  • Transact International
  • Zhuhai Seesheen Medical Technology Co.,Ltd
  • MDS Veterinary
  • eKuore

Key Market Trends


Flexible Endoscopes is Expected to Witness Significant Growth Over the Forecast Period


The Flexible endoscopes are mostly used for upper gastrointestinal (GI) endoscopy, colonoscopy, bronchoscopy, rhinoscopy, and tracheoscopy. These endoscopes can be manually rotated in various directions to allow for better access and maneuverability, which makes it easy to view the inside of the stomach and the bowel.


Esophagogastroduodenoscopy (EGD) and colonoscopies are performed primarily with a flexible endoscope as opposed to a rigid endoscope. The most common flexible endoscopic procedures performed both in specialty and general practices are upper and lower GI endoscopy, for direct examination and biopsy of selected areas of the GI tract. When the endoscopic image is displayed on a video monitor, the endoscopist can work more comfortably and share information during a procedure.


The early diagnoses of gastrointestinal disorders in the companion animals are found to be beneficial, owing to the increasing number of animals with varied symptom patterns that require a biopsy of the GI tract in identifying the underlying condition. Additionally, a standard endoscope for upper and lower GI endoscopy used in dogs and cats should comprise at least 100cm of length and possess a distal tip with almost a 180-degree upward deflection, along with features such as water flushing, air insufflation, and suction capabilities.


The flexible endoscopes require regular repairs to prevent damage. Companies such as STERIS have experience in Endo-i Veterinary Endoscope repairs, which is one of the significant investments for veterinary practices. Owing to the aforementioned factors, the studied market is expected to witness significant growth over the forecast period.


North America Holds the Major Share and is Expected to Dominate the Market Over the Forecast Period


The major factors driving the veterinary endoscopy market's growth include an increase in adoption of companion animals, increasing prevalence of diseases such as zoonosis, availability of advanced veterinary healthcare infrastructure available in the region, and presence of key market players leading to developments in veterinary endoscopes. According to the United States Department of Agriculture's National Agricultural Statistics Service, in the United States, there were around 94.4 million cattle and calves in 2020, as compared to 94.8 million cattle and calves in 2019. Also, the growing pet population along with increasing spending on pet care is fueling the market's growth. For instance, according to the 2019-2020 National Pet Owners Survey conducted by the American Pet Products Association (APPA), around 85 million families or 67% of US households own a pet, an increase from 56% of US households in 1988. Also, during 2019-20, around 63.4 million US households owned a dog.


In addition to that, as per the American Pet Products Association Inc., in 2020, it was estimated that around USD 99 billion was spent on pets in the United States, up from USD 95.7 billion in 2019. Hence, owing to the aforementioned factors, the studied market is expected to witness significant growth in North America over the forecast period.


Key Topics Covered:


1 INTRODUCTION


2 RESEARCH METHODOLOGY


3 EXECUTIVE SUMMARY


4 MARKET DYNAMICS

4.1 Market Overview

4.2 Market Drivers

4.2.1 Increasing Prevalence of Gastrointestinal Diseases in Animals

4.2.2 Shifting Trend Toward Minimally Invasive Procedures

4.2.3 Increasing Animal Health Expenditure and Improved Insurance Policies

4.3 Market Restraints

4.3.1 High Cost of Veterinary Endoscopes

4.3.2 Low Penetration in Developing and Underdeveloped Countries

4.4 Porter's Five Force Analysis


5 MARKET SEGMENTATION

5.1 By Product Type

5.2 By Animal Type

5.3 By End User

5.4 Geography

5.4.1 North America

5.4.2 Europe

5.4.3 Asia-Pacific

5.4.4 Middle East and Africa

5.4.5 South America


6 COMPETITIVE LANDSCAPE

6.1 COMPANY PROFILES


7 MARKET OPPORTUNITIES AND FUTURE TRENDS


For more information about this report visit https://www.researchandmarkets.com/r/7m3rye

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