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According to the latest report by IMARC Group, titled " Veterinary Endoscopy Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global veterinary endoscopy market reached a value of US$ 197.8 Million in 2021. 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.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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$ 273.7 Million by 2027, growing at a CAGR of 5.6% during 2022-2027.
Market Summary:
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