The global veterinary endoscopes market size is expected to be worth around US$ 415.2 million by 2030 and is anticipated to grow at a CAGR of 7.6% over forecast period 2021 to 2030.
The global veterinary endoscopes market size is expected to be worth around US$ 415.2 million by 2030 and is anticipated to grow at a CAGR of 7.6% over forecast period 2021 to 2030.
Growth Factors
The key drivers contributing to the growth include the rising pet population, demand for minimally invasive procedures in animals, adoption by clinics to increase revenue, technological advancements, and awareness about animal diseases and treatment options. According to a study published in the Journal of the American Veterinary Medical Association, introducing rigid endoscopy and laparoscopy to a small animal general practice was found to have economic and clinical feasibility with no major complications. Adding endoscopy services thus helps increase practice revenue by expanding service offerings.
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By Type Analysis
The rigid endoscopes segment dominated the market with a revenue share of over 45% in 2020 while the others endoscopes segment is estimated to register the fastest growth rate from 2021 to 2028. The flexible endoscopes segment, on the other hand, held the second-largest share during 2020.
The growing adoption of veterinary endoscopy procedures as a minimally invasive alternative to surgical procedures is anticipated to fuel the market growth.
The commonly conducted procedures using endoscopes include stomach and gastrointestinal exam and biopsy, retrieval of objects from the stomach, placement of feeding tubes, and examination of the upper airways.
Report Coverage
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Report Scope |
Details |
|
Market Size |
US$ 415.2 million by 2030 |
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Growth Rate |
CAGR of 7.6% From 2021 to 2030 |
|
Base Year |
2021 |
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Forecast Period |
2021 to 2030 |
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Segments Covered |
Type, Animal type, Application, Procedure |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
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Companies Mentioned |
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 |
By Animal Type Analysis
The small animals' segment is estimated to register the highest CAGR of over 7% in the coming years. The rising pet population and expenditure, advancements in veterinary medicine and diagnosis, and availability of veterinary endoscopes for varying applications are the factors expected to fuel the market growth over the forecast period.
The large animal segment contributed to a share of over 53% in 2020. Flexible endoscopes, in particular, are a standard component of diagnostic equipment in large animal medicine, according to Karl Storz, a key player in the market.
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By Application Analysis
In terms of application, the diagnostic segment held a share of over 73% of the market in 2020. Veterinary endoscopes find application in a variety of diagnostic applications such as liver or kidney biopsies during laparoscopy, diagnostic sampling during otoscopy.
The surgical/ interventional segment is anticipated to expand at the fastest CAGR of about 10.0% during the forecast period, due to the rising number of minimally invasive surgeries in animals.
By Procedure Analysis
The gastrointestinal tract endoscopy held a significant revenue share of more than 44% of the market in 2020. This is owing to growing diagnostic and interventional procedures performed to safeguard the health of companion and livestock animals.
ENT endoscopy procedures include otoscopy and rhinoscopy. Diagnostic otoscopy in veterinary medicine is used to study the external and middle ears of animals. It is one of the most important applications of veterinary endoscopes owing to the rising prevalence of external ear disorders in dogs.
By Regional Analysis
North America held the largest revenue share of over 32% in 2020, due to the increasing prevalence of diseases in animals, the humanization of pets, and wide pet insurance coverage.
Asia Pacific is estimated to expand at the fastest at a CAGR of over 7% in the next few years. This is attributable to the growing pet population, awareness about animal diseases, and the presence of market players.
Key Players
- 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
Market Segmentation
- By Type
- Rigid
- Flexible
- Others
- By Animal Type
- Large Animals
- Small Animals
- By Application
- Diagnostic
- Surgical/ interventional
- By Procedure
- Respiratory Endoscopy
- Gastrointestinal tract Endoscopy
- Urinary & genital tract Endoscopy
- Abdominal Endoscopy
- ENT Endoscopy
- Others (Arthroscopy)
- Regional
- North America
- Europe
- Asia Pacific
- Latin America
- MEA
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