According to the report published by Allied Market Research, the global veterinary electrosurgery market generated $463.6 billion in 2021 and is estimated to hit $866.3 billion by 2031, registering a CAGR of 6.4% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
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Covid-19 scenario-
The Covid-19 outbreak had a positive impact on the growth of the global veterinary electrosurgery market, owing to rise in the demand for animal health insurance and the increase in the number of pet adoption during the lockdown.
Moreover, many government initiatives were conducted to reduce the disease prevalence among animals which led to the growth of the market.
Furthermore, the launch of advanced products for the treatment of animals with minimal side effects boosted the market growth even more during the period.
The report offers a detailed segmentation of the global veterinary electrosurgery market based on product, application, end user, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
Based on product, the bipolar electrosurgery instruments segment accounted for more than two-fifths of the overall veterinary electrosurgery market in 2021, and is projected to lead the trail by the end of 2031. Moreover, the same segment would cite the fastest CAGR of 7.1% throughout the forecast period. The report also discusses the monopolar electrosurgery instruments, consumables and accessories segment.
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Based on application, the general surgery segment contributed to nearly one-third of the global veterinary electrosurgery market in 2021, and is expected to maintain its dominance through 2031. The same segment is likely to exhibit a CAGR of 7.1% during the forecast period. The report also discusses the segments such as gynecological and urological surgery, dental surgery, ophthalmic surgery, orthopedic surgery, and others.
Based on end user, the veterinary hospitals segment captured the largest share of nearly three-fifths of the global veterinary electrosurgery market in 2021, and is likely to exhibit a noteworthy growth during the forecast period. The same segment would grow at the highest CAGR of 6.8% from 2022 to 2031. The report also analyzes the segments such as veterinary clinics and others.
Based on region, the market across North America contributed to around two-fifths of the overall veterinary electrosurgery market in 2021, and is likely to maintain a prominent growth during the forecast period. The Asia-Pacific region, on the other hand, would grow at the fastest CAGR of 7.4% from 2022 to 2031. The other two provinces discussed in the report include Europe and LAMEA.
The key market players analyzed in the global veterinary electrosurgery market report include Avante Animal Health, B.Braun Vet Care GmbH, Burtons Medical Equipment Ltd., ByRL Medical India Pvt. Ltd., Deltronix Medical Device, Integra Lifesciences, Kwanaza Veterinary, Medtronic PLC, Olympus Corporation, Symmetry Surgical, KLS Martin, and Eickemeyer GmbH.
The report analyzes these key players of the global veterinary electrosurgery market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
Key findings of the study:
By product, the bipolar electrosurgery instrument segment was the highest contributor to the market in 2021.
By application, the general surgery segment was the highest contributor in 2021.
By end user, the veterinary hospital dominated the market in 2021 and is expected to continue this trend during the forecast period.
By region, North America garnered the largest revenue share in 2021, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.
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