Veterinary Endoscopy Market Report
The report on the Global Veterinary Endoscopy Market is segmented By Product (Capsule Endoscopes, Flexible Endoscopes, Rigid Endoscopes, Robot Assisted Endoscopes), By Animal Type (Companion, Livestock), By End Use (Hospitals & Academic Institutes, Veterinary Hospitals, Research Institutes) and Region - COVID-19 Impact Analysis and Forecast to 2026. This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global veterinary endoscopy market. The historic years considered for the study are 2016-2019, the base year is 2020, the estimated year is 2021, and the forecast period is 2022-2026.
The report on the Global Veterinary Endoscopy Market is segmented By Product (Capsule Endoscopes, Flexible Endoscopes, Rigid Endoscopes, Robot Assisted Endoscopes), By Animal Type (Companion, Livestock), By End Use (Hospitals & Academic Institutes, Veterinary Hospitals, Research Institutes) and Region ...
Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
The Global Veterinary Endoscopy Market is projected to grow from USD 170.2 million in 2020 to USD 238.7 million by 2026 at a CAGR of over 5.8% during the forecast period.
Figure: Global Veterinary Endoscopy Market Size, 2020-2026 (USD Million)
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An endoscope is a device, which comprises a flexible tube with a video camera attachment that is inserted into the stomach or any other part of the body via the colon or mouth of the animals. Most commonly, veterinary endoscopy is performed for diagnostic purposes, such as sampling abnormalities and visualization. Although, it can also be used for therapeutic purposes as it is termed interventional endoscopy.
Key players operating in the global veterinary endoscopy market are-
Increasing the use of endoscopy in the treatment of gastrointestinal diseases as well as surging veterinary endoscopy training programs further boosts the market growth. Also, growing companion animal adoption and the rising trend of minimally invasive procedures further augment the demand for veterinary endoscopy. Moreover, the growing demand for capsule endoscopy and an increasing number of veterinary practitioners are likely to offer immense growth opportunities to the market players. However, the high cost of veterinary endoscopes and the rising cost of pet care are likely to hamper the industry growth.
Based on animal type, the global veterinary endoscopy market has been bifurcated into companion and livestock.
By region, the North American market accounted for the largest market share in 2020 and is estimated to grow at a steady CAGR during the assessment period.
The ongoing COVID-19 pandemic has negatively affected the veterinary endoscopy industry. Government bodies across the globe are focusing to curb the COVID-19 with stringent measures, such as social distancing, nationwide lockdowns, and large-scale quarantine to prevent the spread of the coronavirus. Due to the outbreak of the coronavirus disease COVID-19, the veterinary visits were either cancelled or postponed, which, in turn, hampered the market growth.
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The veterinary endoscopy market size is expected to reach USD 238.7 million in the foreseeable future.
Karl Storz Veterinary Endoscopy (The U.S), FUJIFILM Corporation (Japan), Biovision Veterinary Endoscopy, LLC (The U.S), Dr. Fritz Endoscopy GmbH (Germany), STERIS Instrument Management Services, Inc (The U.S), DRE Veterinary (The U.S), PENTAX Medical (Japan), Richard Wolf GmbH (Germany), Medtronic Plc (Ireland) and B. Braun Melsungen AG (Germany) are among the key players in the veterinary endoscopy market.
The veterinary endoscopy market is expected to witness an impressive growth of 5.8% CAGR in the coming years.
North America accounted for the largest share in the veterinary endoscopy market in 2020.
The companion animals segment is expected to witness a healthy CAGR in the veterinary endoscopy market during the forecast period.
Increasing the use of endoscopy in the treatment of gastrointestinal diseases as well as surging veterinary endoscopy training programs, growing companion animal adoption and the rising trend of minimally invasive procedures, growing demand for capsule endoscopy and an increasing number of veterinary practitioners are the factors driving the growth of veterinary endoscopy market.
Veterinary endoscopy companies, Veterinary clinics, Hospitals, Pharmaceutical companies, R&D organizations are the target audience in the veterinary endoscopy market.