Yahoo Finance Veterinary Electrosurgery Market Is Expected to Reach USD 866.3 Billion by 2031, Says Allied Market Research
Increase in the prevalence of animal-related disorders such as obesity, cardiovascular diseases, neurological diseases, osteoarthritis, and dental diseases in companion animals; growing awareness regarding treatment options for animals; increase in adoption of companion animals; and the rise in technological advancements in veterinary electrosurgery instruments drive the growth of the global veterinary electrosurgery market. By end user, the veterinary hospitals segment would exhibit a noteworthy growth during the forecast period.
Portland, OR, Sept. 29, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global veterinary electrosurgery market generated $463.6 billion in 2021 and is estimated to hit $866.3 billion by 2031, registering a CAGR of 6.4% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
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Report coverage & details:
Report Coverage | Details |
Forecast Period | 2022–2031 |
Base Year | 2021 |
Market Size in 2021 | $463.6 billion |
Market Size in 2031 | $866.3 billion |
CAGR | 6.4% |
No. of Pages in Report | 356 |
Segments covered | Product, Application, End User, and Region |
Drivers | Increase in the prevalence of animal-related disorders such as obesity, cardiovascular diseases, neurological diseases, osteoarthritis, and dental diseases in companion animals |
Growing awareness regarding treatment options for animals | |
Increase in adoption of companion animals | |
Rise in technological advancements in veterinary electrosurgery instruments | |
Rise in demand for health insurance | |
Opportunities | Emerging healthcare market in developing countries |
Restraints | Dearth of skilled professionals |
High cost of pet care |
Covid-19 scenario-
The Covid-19 outbreak had a positive impact on the growth of the global veterinary electrosurgery market, owing to rise in the demand for animal health insurance and the increase in the number of pet adoption during the lockdown.
Moreover, many government initiatives were conducted to reduce the disease prevalence among animals which led to the growth of the market.
Furthermore, the launch of advanced products for the treatment of animals with minimal side effects boosted the market growth even more during the period.
The report offers a detailed segmentation of the global veterinary electrosurgery market based on product, application, end user, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
Based on product, the bipolar electrosurgery instruments segment accounted for more than two-fifths of the overall veterinary electrosurgery market in 2021, and is projected to lead the trail by the end of 2031. Moreover, the same segment would cite the fastest CAGR of 7.1% throughout the forecast period. The report also discusses the monopolar electrosurgery instruments, consumables and accessories segment.
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Based on application, the general surgery segment contributed to nearly one-third of the global veterinary electrosurgery market in 2021, and is expected to maintain its dominance through 2031. The same segment is likely to exhibit a CAGR of 7.1% during the forecast period. The report also discusses the segments such as gynecological and urological surgery, dental surgery, ophthalmic surgery, orthopedic surgery, and others.
Based on end user, the veterinary hospitals segment captured the largest share of nearly three-fifths of the global veterinary electrosurgery market in 2021, and is likely to exhibit a noteworthy growth during the forecast period. The same segment would grow at the highest CAGR of 6.8% from 2022 to 2031. The report also analyzes the segments such as veterinary clinics and others.
Based on region, the market across North America contributed to around two-fifths of the overall veterinary electrosurgery market in 2021, and is likely to maintain a prominent growth during the forecast period. The Asia-Pacific region, on the other hand, would grow at the fastest CAGR of 7.4% from 2022 to 2031. The other two provinces discussed in the report include Europe and LAMEA.
The key market players analyzed in the global veterinary electrosurgery market report include Avante Animal Health, B.Braun Vet Care GmbH, Burtons Medical Equipment Ltd., ByRL Medical India Pvt. Ltd., Deltronix Medical Device, Integra Lifesciences, Kwanaza Veterinary, Medtronic PLC, Olympus Corporation, Symmetry Surgical, KLS Martin, and Eickemeyer GmbH.
The report analyzes these key players of the global veterinary electrosurgery market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
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