Global Veterinary Endoscopy Market market Set to Grow with CAGR of 6.50 % By 202

Posted by ganesha on December 26th, 2019

Global Veterinary Endoscopy Market, By Product Type (Flexible, Videoscope, Fibreoptic, Rigid), Procedure (Bronchoscopy, Laparoscopy, Gastroduodenoscopy, Colonoscopy, Rhinoscopy), Animal (Companion, Large), End User (Hospitals, Clinics

Market Definition: Global Veterinary Endoscopy Market

Endoscope is a lighted optical instrument which is used to get a deep look inside the body. An endoscope, which may be inelastic or flexible, it is used to examine organs, such as the throat or esophagus. Specialized endoscopes are termed for where they are envisioned to look. In pets veterinary endoscopy offers alternatives to traditional open surgeries; which offers less invasive and less painful procedures. Global veterinary endoscopy market is growing very fast. For instance, according to FVE Survey of the Veterinary Profession in Europe, estimate that Veterinary private practice is worth USD 12,980 million across the 24 surveyed countries. Half of practice revenue comes from treatment and another 20 percent from surgery. There have been tremendous technological advancements in the field of veterinary in the last decade. For Instance, Video is one of the most significant new endoscopic technologies. When the endoscopic image is displayed on a video monitor, the endoscopist is able to work more comfortably and share information during a procedure with any number of observers. A video image is produced by attaching a camera to the eyepiece of the endoscope.

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Major Market Drivers and Restraints:

• Increasing Use of Endoscopes in the Diagnosis of Gastrointestinal Diseases
• Rising Number of Veterinary Endoscopy Training Programs
• Increasing Pet Insurance and Growing Animal Health Expenditure
• Growing Population of Companion Animals
• Advanced Applications of Veterinary Endoscopy
• Rising Demand for Animal-Derived Food Products
• Growth in the Number of Veterinary Practitioners
• High Cost of Veterinary Endoscopes

Market Analysis: Global Veterinary Endoscopy Market

The Global Veterinary Endoscopy Market is expected to reach 1.354 billion by 2025, from USD 248.58 billion in 2017 growing at a CAGR of 6.50 % during the forecast period of 2018 to 2025. The upcoming market report contains data for historic years 2015 & 2016, the base year of calculation is 2016 and the forecast period is 2018 to 2025.

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Market Segmentation: Global Veterinary Endoscopy Market

• The global veterinary endoscopy market is segmented based on product type, procedure, animal and geographical segments.
• Based on product type market is segmented into flexible, videoscope, fiberoptic and rigid.
• On the basis of procedure market is classified into bronchoscopy, laparoscopy, gastroduodenoscopy, colonoscopy and rhinoscopy.
• On the basis of Animal the market is classified into Companion and Large.
• On the basis of end users market is segmented into hospitals and clinics.
• Based on geography the market report covers data points for 28 countries across multiple geographies namely North America & South America, Europe, Asia-Pacific and, Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, South Africa and, Brazil among others. In 2017, North America is expected to dominate the market.

Key Developments in the Market:

• In January 2018, KARL STORZ SE & Co. KG has established joint venture with NDTec AG (Germany), to strengthen its industrial endoscopy division. By combining the expertise of both partners, KARL STORZ aims to advance its product range for industrial use in a future-oriented manner. The new subsidiary KARL STORZ NDTec GmbH headquartered in Walsdorf (Bamberg County, Germany) will start operations on 01 April 2018.
• In June 2012, Ambu enters an agreement with the veterinary equipment supplier, Eickemeyer, to distribute the disposable endoscope, vScope, on the veterinary market.

Competitive Analysis: Global Veterinary Endoscopy Market

The global veterinary endoscopy market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes global veterinary endoscopy market for global, Europe, North America, Asia Pacific and South America.

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