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Veterinary Endoscopes Market Trends

Report ID: GMI4038
Published Date: Jul 2024
Report Format: PDF

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Veterinary Endoscopes Market Trends

The market is experiencing a notable trend driven by increasing pet ownership rates worldwide. As more households’ welcome pets into their families, there is a corresponding rise in demand for comprehensive veterinary care. For instance, according to European Pet Food Industry Federation (FEDIAF), around 90 million households in Europe own a pet in 2022 that is around 46%. Thus, with higher levels of pet ownership comes increased expenditure on veterinary services and animal healthcare.

Further, veterinary endoscopes play a crucial role in meeting this demand by offering minimally invasive diagnostic and therapeutic solutions. Also, the increasing shift of pet owners towards minimally invasive procedure preferences supports the growth of market.

Authors: Mariam Faizullabhoy , Gauri Wani

Frequently Asked Questions (FAQ) :

Veterinary endoscopes industry size was worth USD 218.2 million in 2023 and is projected to expand at 6.6% CAGR from 2024 to 2032, due to increasing pet ownership rates globally and rising expenditure on advanced veterinary care.

The flexible endoscopes product type segment in the veterinary endoscopes industry recorded 67% revenue share in 2023 as they provide greater maneuverability, allowing access to complex anatomical structures.

The gastroduodenoscopy procedure segment in the veterinary endoscopes industry accounted for USD 53.7 million in revenue in 2023 on account of the increasing prevalence of gastrointestinal issues in animals ranging from chronic conditions such as inflammatory bowel disease.

North America veterinary endoscopes industry is projected to record USD 154.5 million by 2032, led by the rising rates of pet ownership in the region.