Global Veterinary Endoscopy Market to Reach US$ 289.2 Million by 2028, Supported by the Growing Focus on Pet Health

April 11, 2022 | Healthcare

According to the latest report by IMARC Group, titled " Veterinary Endoscopy Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global veterinary endoscopy market reached a value of US$ 208.4 Million in 2022. Veterinary endoscopy is a minimally invasive medical procedure that enables examiners to check the body cavity of animals and gain diagnostic information. The procedure is executed with the support of an endoscope, which is a flexible tube consisting of a video camera inserted into the stomach through the mouth for visualization purposes and sampling abnormalities. Veterinary endoscopy assists in performs internal navigation and ensuring superior diagnostic examinations with higher precision and accuracy, while eliminating pain and discomfort. On account of these properties, veterinary endoscopy is extensively used in pet clinics, academic institutions, and veterinary hospitals for bronchoscopy, duodenoscopy, and gastroscopy in animals.

Global Veterinary Endoscopy Market Trends:

The increasing domestication of both companion and livestock animals across the globe, along with the enhanced focus on pet health on account of the rising prevalence of various infectious diseases, including anthrax, bovine spongiform encephalopathy (BSE) and brucellosis are some of the key factors driving the veterinary endoscopy market growth. It is widely used across clinics and hospitals for performing diagnosis and detecting diseases at an early stage, thus helping in effectively managing the disease. In line with this, significant technological advancements, such as the introduction of Tele-view universal serial bus (USB) video endoscopy systems as they offer real-time image display on a digital screen, while operating simultaneously on different electronic devices, is acting as another major growth-inducing factor. Additionally, various product innovations, including the launch of capsule endoscopy that involves the patient to swallow a camera-embedded capsule, which, in turn, aids in diagnosing tumors and gastrointestinal bleeding with minimal pain is favoring the market growth. Other factors, such as rapid expansion in the healthcare sector, especially in the developing regions, the implementation of favorable reimbursement policies, and the easy availability of pet insurance services are creating a positive outlook for the market. On account of the aforementioned factors,the market is anticipated to reach a value of US$ 289.2 Million by 2028, growing at a CAGR of 5.65% during 2023-2028.

Market Summary:

Based on the product, the market has been classified into capsule, flexible, rigid, and robot assisted endoscopes.
On the basis of the animal type, the market has been bifurcated into companion and livestock.
Based on the end user, the market has been divided into veterinary hospitals, academic institutes, and others.
On a regional basis, the market has beensegmented into North America (United States, and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and Others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and Others), Latin America (Brazil, Mexico, and Others), and Middle East and Africa.
The competitive landscape of the industry has also been examined, along with the profiles of the key players being Avante Health Solutions, B. Braun Melsungen AG, Biovision Veterinary Endoscopy LLC, Dr. Fritz Endoscopes GmbH, Eickemeyer Veterinary Equipment Ltd., FUJIFILM Corporation, Karl Storz SE & Co. KG, Olympus Corporation, PENTAX Medical, Richard Wolf GmbH and Steris Corporation.

Report Scope:

Report Features	Details
Base Year of the Analysis	2022
Historical Period	2017-2022
Forecast Period	2023-2028
Units	US$ Million
Segment Coverage	Product, Animal Type, End User, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	Avante Health Solutions, B. Braun Melsungen AG, Biovision Veterinary Endoscopy LLC, Dr. Fritz Endoscopes GmbH, Eickemeyer Veterinary Equipment Ltd., FUJIFILM Corporation, Karl Storz SE & Co. KG, Olympus Corporation, PENTAX Medical, Richard Wolf GmbH and Steris Corporation
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Global Veterinary Endoscopy Market to Reach US$ 289.2 Million by 2028, Supported by the Growing Focus on Pet Health

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