Wilmington, Delaware, United States, Nov. 14, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. -The revenue of veterinary endoscopes market is estimated to reach a value of US$ 846.0 Mn by the end of 2027, as per a review report presented by Transparency Market Research (TMR). In addition, the study finds that the market for veterinary endoscopes is expected to grow at a CAGR of 7.1% during the forecast period, from 2019 to 2027.
Companies in the veterinary endoscopes market are using varied strategies such as regulatory approvals, new product launches, acquisitions, and collaborations in order to maintain their prominent positions. Moreover, players are investing heavily in R&Ds for the development of technologically advanced products, notes a TMR review that delivers important insights on the fastest growing market for veterinary endoscopes.
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Enterprises developing endoscopy devices are investing in researches in order to advance the quality of their products and video imaging technology. Moreover, they are focusing on innovation in animal care using incorporation of advanced animal disease diagnosis and surgery. Owing to these factors, veterinarians are gaining an ability to practice and offer tailored services as per the needs of animal patients, notes a TMR study on the veterinary endoscopes market.
Veterinarians today are inclining toward the use of technological advancements and less invasive surgeries for diseased animals. This aside, rise in the concerns and understanding among pet owners pertaining to pain resulting from the conventional surgical approaches are resulting into a surge in demand for minimal invasive surgeries for animals. Such factors are prognosticated to fuel the sales growth in the global veterinary endoscopes market. Moreover, the market is projected to observe high demand for their products in the near future. This growth is attributed to the ability of surgical procedures performed using veterinary endoscopes to allow for faster recovery in comparison to traditional surgical methods, note analysts of a TMR review.
Veterinary Endoscopes Market: Key Findings
- The prevalence of gastrointestinal parasitism infections is being increasing among both livestock and companion animals that cause pain, diarrhea, oedema and death in severe cases. As per the 2017 All-island Animal Disease Surveillance report, various digestive tract diseases including inflammation of the intestine and scour account for over 40% of all cattle deaths. Hence, increase in the cases of gastrointestinal diseases globally is fueling the business avenues in the veterinary endoscopes market, note analysts at TMR.
- Over the period of past few years, there has been a surge in the pet population suffering from gastrointestinal issues. Moreover, the owners of such pets are inclining toward adopting advanced diagnosis and endoscopies surgeries at veterinary clinic and hospitals. Hence, there has been a surge in the number of endoscopy surgeries globally. This factor, in turn, is creating lucrative opportunities in the global veterinary endoscopes market.
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Veterinary Endoscopes Market: Growth Boosters
- Surge in the prevalence of gastrointestinal disorders among animals globally is leading to largest opportunity for veterinary endoscopes market growth
- Increase in the pet populace in the world is estimated to drive the expansion prospects in the market
- Increase in the inclination toward minimally invasive surgeries for pets is bolstering the global market for veterinary endoscopes
Veterinary Endoscopes Market: Key Players
Some of the key players profiled in the report are:
- Olympus Corporation
- Harvard Bioscience Infiniti Medical
- KARL STORZ SE & Co. KG
- Fujifilm Holdings Corporation
- STERIS plc
- Richard Wolf GmbH
- Jorgen Kruuse A/S,
- ESS, Inc.
- HOYA Corporation (PENTAX Medical)
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Veterinary Endoscopes Market Segmentation
Product Type
- Flexible Endoscopes
- Fiber Optic Endoscopes
- Video Endoscopes
- Rigid Endoscopes
- Capsule Endoscopes
- Robot Assisted Endoscopes
Application
- Diagnostic Endoscopes
- Surgical Endoscopes
Procedure Type
- Gastrointestinal
- Bronchoscopy
- Laparoscopy
- Otoscopy
- Cystoscopy
- Others
Animal Type
- Companion
- Equine
- Canine
- Feline
- Livestock
- Bovine
- Ovine
- Porcine
- Poultry
End-user
- Veterinary Hospitals
- Veterinary Clinics
- Others (Academic Institutes etc.)
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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