PUBLISHER: Allied Market Research | PRODUCT CODE: 1179561
PUBLISHER: Allied Market Research | PRODUCT CODE: 1179561
The global veterinary electrosurgery market was valued at $463.6 million in 2021, and is projected to reach $866.3 million by 2031, registering a CAGR of 6.4% from 2022 to 2031.
Veterinary electrosurgery is the application of a radio frequency with alternating polarity of electric current to coagulate or cut biological tissue. Veterinary electrosurgical devices are used to make precise cuts and further control blood loss by coagulation at the surgical site during procedures. Two types of electrosurgery are there: electrocautery and high frequency electrosurgery. Electrosurgery instruments are available in two forms: monopolar and bipolar. The electrosurgical method includes heating the tissue by electric current or using a probe that is heated for electrocautery.
It is an effective treatment option for animals with tumors. Electrosurgery has been commonly used in surgical procedures for over 60 years, and it is used in over 80% of all human surgical procedures in almost all surgical specialties. It is estimated that electrosurgery energy devices are used in over 41 million procedures per year.
The key factors that drive the growth of the market are rise in surgical procedures on pets such as dental surgeries, cataract surgeries, spaying, hip dysplasia, and wound repair. For instance, according to a report published by the WHO, it has been found that almost 2.0 million surgical procedures were performed on animals to protect them from diseases. Moreover, surge in number of skilled practitioners who can perform these surgeries and have expertise related to these medical devices is expected to propel the growth of the market. Furthermore, technological advancements in the instruments, rise in demand for animal health insurance, an increase in the adoption of companion animals, and many government initiatives being conducted to reduce disease prevalence among animals lead to the growth of the veterinary electrosurgery market.
However, the high cost of pet care, the high cost of electrosurgery medical devices, and the dearth of skilled professionals hamper the market's growth. Conversely, in the emerging healthcare market in developing countries, the launch of technologically advanced novel products for the treatment of animals with minimal side effects provides lucrative opportunities for the growth of the market during the forecast period.
The veterinary electrosurgery market is segmented on the basis of product, application, end user, and region. By product, the market is fragmented into bipolar electrosurgery instruments, monopolar electrosurgery instruments, and consumables & accessories. By application, the market is categorized into general surgery, gynecological & urological surgery, dental surgery, ophthalmic surgery, orthopedic surgery, and others. By end user, the market is divided into veterinary hospitals, veterinary clinics, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
On the basis of bipolar electrosurgery instruments, the market is further sub-segmented into bipolar electrosurgical pencils, bipolar laparoscopy instruments, bipolar forceps, and others. On the basis of monopolar electrosurgical instruments, it is further sub-segmented into monopolar electrosurgical pencils, monopolar laparoscopy instruments, monopolar forceps, and others.
North America accounted for a majority of the veterinary electrosurgery market share in 2021 and is anticipated to remain dominant during the forecast period owing to growth in veterinary practices, rise in veterinary healthcare expenditure, availability of advanced electrosurgical instruments, increase in pet ownership, and upsurge in pet insurance coverage.
Asia-Pacific was the second largest contributor to the market in 2021, and is expected to register the fastest CAGR during the forecast period, owing to rise in prevalence of animal-related diseases and surge in the number of companion animal pet adoptions.
The key players that operate in the veterinary electrosurgery market are 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
Key Benefits For Stakeholders
By Product
By Application
By End User
By Region