Research Nester assesses the growth and market size of global veterinary video endoscopy market which is anticipated to be on account of the growing importance of minimally invasive procedures and growing awareness about zoonotic disorders.
Research Nester’s recent market research analysis on “Veterinary Video Endoscopy Market: Global Demand Analysis & Opportunity Outlook 2036” delivers a detailed competitors analysis and a detailed overview of the global Veterinary Video Endoscopy market in terms of market segmentation by end-user, animal type, solution, procedure, application, product type and by region.
Growing Adoption of Dogs, and Cats by Households to Promote Global Market Share of Veterinary Video Endoscopy
The global veterinary video endoscopy market is estimated to grow majorly on account of the increasing pet ownership. For instance, more than 50% of people worldwide own pets especially millennial households, which tend to be smaller families that own a pet as it reduces levels of anxiety and sadness, improved heart health, and more. This may increase the demand for veterinary video endoscopy as higher pet ownership has led to an increase in awareness about pet health which has placed a stronger focus on early diagnosis and disease monitoring.
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Some of the major growth factors and challenges that are associated with the growth of the global veterinary video endoscopy market are:
Growth Drivers:
• Surge in Need for Electronics Globally
• Rising Technological Advancements in Veterinary Endoscopy
Challenges:
The exorbitant cost of veterinary video endoscopy procedures, and the lack of awareness among pet owners and medical professionals in developing region are some of the major factors anticipated to hamper the global market size of veterinary video endoscopy. The expensive instruments and equipment needed for veterinary endoscopy results in higher cost of video endoscopy procedure which has limited its adoption in regions with limited resources.
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By animal type, the global veterinary video endoscopy market is segmented into big animals, small animals, companion animals, and livestock animals. The small animals segment is to garner a highest revenue by the end of 2036 by growing at a significant CAGR over the forecast period. Veterinary video endoscopy is a minimally invasive diagnostic procedure that is widely used for small animals as these animals frequently develop stomach and intestine conditions that can result in excessive drooling, diarrhea, constipation, vomiting or regurgitation, loss of appetite, and bleeding.
By region, the Europe veterinary video endoscopy market is to generate the highest revenue by the end of 2036. This growth is anticipated by higher pet ownership in the region. Pet ownership has been steadily rising in Europe, as more than 80 million homes in the region now possess pets, owing to changes in lifestyle, as well as a focus on pet companionship and adoption from shelters. This has led to an increase in the importance of veterinary care as pet owners get worried about the health and welfare of their animals which has also resulted in a better understanding of the diagnosis and management of several diseases in animals, leading to a higher demand for veterinary video endoscopy in the region.
For instance, in 2022, more than 125 million cats were living in over 25% of households in Europe.
Besides this, pet owners in Europe are increasingly choosing pet insurance to lessen the financial strain of obtaining veterinarian care. For instance, with over 125 years of experience insuring animals, Agria is the second-largest pet insurer in Europe that lately operates in nine European regions to expand insurance for dogs and cats. The expansion of pet insurance coverage in the region is anticipated to accelerate the uptake of veterinary video endoscopy which includes diagnosing intestinal issues with endoscopy in canines and felines.
Furthermore, the Asia Pacific veterinary video endoscopy market is to generate significant revenue by the end of 2036. The growth can be attributed to rising cases of diseases in animals in the region. For instance, Bovine brucellosis appears to be increasing recently in India owing to the intensification of the dairy industry. Moreover, foot-and-mouth disease (FMD) continues to be the most widely disseminated viral illness in India that mostly affects the population of the country's cattle, buffalo, and pigs and causes severe symptoms. This has significantly increased the demand for veterinary video endoscopy in the region as it provides for accurate illness investigation and conditions such as abnormal growths benign and malignant, and stomach ulcers in small and large animals.
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This report also provides the existing competitive scenario of some of the key players of the global veterinary video endoscopy market which includes company profiling of Firefly Global, KARL STORZ SE & Co. KG, Advanced Monitors Corporation, Dr. Fritz Endoscopes GmbH, Biovision Veterinary Endoscopy, LLC, Eickemeyer, Ambu, Olympus Corporation, MDS Incorporated, and others.
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