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Veterinary Endoscopy Market Size
Veterinary Endoscopy Market is projected to expand considerably from 2024 to 2032, given the strong focus on ensuring the health and safety of pets, alongside the high risks of zoonotic parasites among canine companion animals and their owners. Likewise, the potential mutation of zoonosis to human-only virus strains, including newly identified and recurring diseases like Ebola, HIV, and salmonellosis, is likely to boost the demand for several veterinary services in the coming years.
According to Forbes, in 2022, Americans spent USD 136.8 billion on their pets, a hike of 11% from 2021. This growing expenditure on pet health will escalate the demand for veterinary endoscopy in the forthcoming period. Availability of pet insurance policies and the growing number of veterinarians are other prominent factors bolstering the market trends. However, high equipment costs, limited availability of skilled veterinary professionals, and challenges in accessing specialized equipment and training in some regions may restrain the market growth to some extent.
Veterinary Endoscopy Market Trends
The growing demand for minimally invasive surgical procedures in veterinary medicine is encouraging the adoption of endoscopic techniques for diagnostics and treatments. The rising advancements in endoscopic technology, such as high-definition imaging and flexible endoscopes, are enhancing visualization and maneuverability as well as improving diagnostic accuracy and treatment outcomes. Additionally, the rising prevalence of chronic diseases in companion animals is driving the need for endoscopic procedures for early detection and management.
The increasing focus on animal welfare and the high demand for less traumatic surgical interventions are fueling the use of endoscopy as a preferred method in veterinary practice. Furthermore, the expanding application of endoscopy beyond traditional surgeries, such as gastroenterology and respiratory medicine, will broaden the industry scope.
Veterinary Endoscopy Market Analysis
The flexible endoscopes product type segment is estimated to accumulate sizeable share of the veterinary endoscopy industry by 2032. The versatility and maneuverability of flexible endoscopes enables comprehensive examination and treatment of internal organs in animals in veterinary practices. Rising technology advancements, such as improved imaging capabilities and miniaturization, are enhancing the performance and usability of flexible endoscopes, further serving as an ideal option for veterinarians. Additionally, the rising prevalence of gastrointestinal and respiratory disorders in animals is increasing the demand for flexible endoscopes for diagnostic and therapeutic procedures.
Veterinary endoscopy market from the companion animal segment is estimated to rise at significant CAGR through 2032, owing to the rising pet ownership and increased spending on companion animal healthcare. The desire of pet owners for advanced diagnostic and treatment options for their beloved animals is pushing the demand for endoscopic procedures. Additionally, the rising incidence of diseases, such as gastrointestinal and respiratory disorders in companion animals is necessitating the use of endoscopy for accurate diagnosis and minimally invasive treatment. Rapid advancements in veterinary endoscopic technology are also serving specific needs of companion animals and enhancing the efficiency and efficacy of procedures in veterinary practices.
North America veterinary endoscopy market size is anticipated to expand at notable pace from 2024 to 2032. This is due to the increasing pet ownership and expenditure on companion animal healthcare along with the launch of advanced diagnostic and treatment options, including endoscopic procedures in the region. According to Forbes report, 66% of U.S. households are pet owners, as of 2024. This rising number of pet owners is increasing the need for veterinary services in the region.
The presence of well-established veterinary infrastructure is leading to the high level of awareness among pet owners about the benefits of endoscopy. Additionally, technological advancements in veterinary endoscopic equipment are enhancing the efficiency and precision of procedures. The growing prevalence of chronic diseases in companion animals will further drive the adoption of endoscopy for accurate diagnosis and minimally invasive treatment across the region.
Veterinary Endoscopy Market Share
Key veterinary endoscopy industry giants are following various inorganic business strategies, such as acquisitions, mergers, partnerships and launching new products with innovative features to gain a higher ground in the market.
Some of the major veterinary endoscopy companies are:
- Welch Allyn (Hillrom)
- Steris
- Richard Wolf GmbH
- Olympus Corporation
- Karl Storz
- Hoya Corporation
- Fujifilm
- Endoscopy Support Services
- Eickemeyer
- Biovision Veterinary Endoscopy
- B. Braun
Veterinary Endoscopy Industry News:
- OmniVision, a developer of digital imaging solutions, introduced its OH02B image sensor in November 2022. This square two-megapixel (1,500MP x 1,500MP) resolution sensor is designed for both disposable and reusable endoscopes.