Veterinary Endoscopy Market Report

Market Insights

"The Veterinary Endoscopy Market size 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."

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What is a Veterinary Endoscope?

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

• 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).

Market Dynamics

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.

Segment Analysis

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Animal Type Trends

The market has been bifurcated into companion and livestock.

• Among these, the companion animals segment witnessed the highest market share in 2020 and is likely to grow at a healthy CAGR during the forecast timeline.
• This is mainly ascribed to the rising awareness about animal health among pet parents, increasing use of veterinary endoscopy for the diagnosis of gastrointestinal diseases in companion animals, growing pet healthcare expenditure, and the surging companion animal population worldwide.

Regional Trends

North American market accounted for the largest market share in 2020 and is estimated to grow at a steady CAGR during the assessment period.

• This can be attributed to rising pet healthcare insurance, increasing adoption of companion animals, and improved veterinary healthcare infrastructure in the region are driving the market in North America.
• Moreover, the presence of key market players, as well as strong funding for R&D activities, further propels regional growth.

COVID-19 Impact on this Market

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.

Target Audience

• Veterinary endoscopy companies
• Veterinary clinics
• Hospitals
• Pharmaceutical companies
• R&D organizations

Research Methodology

• This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data.
• We conducted more than 10 detailed primary interviews with the companies across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

Report Features

This report provides intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the dynamics and will enable strategic decision making for the existing players as well as those willing to enter the market.

The following are the key features of the report:

• Overview, industry life cycle analysis, supply chain analysis
• Environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Trend and forecast analysis
• Segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, Technology launches, etc.
• Attractive segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

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Report Customization

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players
• SWOT analysis of key players

Segmentation

• Current market segmentation of any one of the technology types by component type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Technology portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and  others, please send your inquiry at sales@stratviewresearch.com.