The Worldwide Veterinary Endoscopes Industry is Expected to Reach $248 Million by 2027 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "Global Veterinary Endoscopes Market By Animal Type, By the Type, By Application, By Procedure, By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027" report has been added to ResearchAndMarkets.com's offering.
The global veterinary endoscopes market size is expected to reach $248.926 million by 2027, rising at a market growth of 8% CAGR during the forecast period.
An endoscope refers to a device that consists of a flexible tube with a video camera attachment, which is embedded into the stomach or other parts of the body via the colon or mouth. In the majority of cases, endoscopy is conducted for diagnostic purposes, like sampling and visualization abnormalities.
Factors such as the increase in the pet population, high demand for minimally invasive surgeries in animals, the rising adoption rate of this device by clinics to increase revenue, constant technological developments, and rising awareness regarding animal diseases and treatment options are expected to accelerate the market growth. Among the different kinds of veterinary endoscopes, video-endoscopy systems is expected to gain high popularity due to their advantages like real-time image display on a digital screen and application in complicated procedures.
COVID-19 Impact Analysis
The veterinary endoscopes market was negatively impacted by the outbreak of the COVID-19 pandemic due to the low demand and sales. This was due to the disruptions in the supply chain, deferred or canceled veterinary procedures, declined veterinary visits, and restrictions in movement. As per the survey by the American Veterinary Medical Association in 2000, 18% of the respondent veterinary practice owners were observing only emergency-related cases owing to the pandemic and the subsequent lockdown measures. Three-fifth of the practices was canceled owing to the global pandemic.
Market Growth Factors:
Rising demand for minimally invasive procedures for pets
In the last few years, endoscopy devices have witnessed several developments due to the product improvements and application of video imaging technology. Many key market players are introducing innovations in animal care by combining improved animal diagnosis and surgery technologies & devices. These advanced devices are helping veterinarians to practice and provide the best possible services to their pet patients.
Growing cases of gastrointestinal diseases among animals
The increase in cases of gastrointestinal parasitism infection that cause pain, oedema, and diarrhea is estimated to fuel the demand for veterinary endoscopes in the market. In addition, digestive problems are very common among the dogs along with vomiting, diarrhea, constipation, concurrent vomiting with diarrhea, and anorexia. Due to the growing prevalence of these diseases among the animals, the requirement for the medical devices like endoscopes is expected to also surge in the upcoming years.
Marketing Restraining Factor:
Less penetration of veterinary endoscopes in developing and underdeveloped nations
The penetration of veterinary endoscopes is very low in emerging and underdeveloped nations, which is projected to hinder the growth of the overall veterinary endoscopes market over the forecast period. There is a large population of low-income level people in the underdeveloped nations, which restricts them from using such treatment procedures for their pets. It is difficult for these people to invest a huge amount in such procedures, which is hindering the growth of the overall veterinary endoscopes market.
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
220.127.116.11 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Global Veterinary Endoscopes Market by Animal Type
Chapter 4. Global Veterinary Endoscopes Market by Type
Chapter 5. Global Veterinary Endoscopes Market by Application
Chapter 6. Global Veterinary Endoscopes Market by Procedure
Chapter 7. Global Veterinary Endoscopes Market by Region
Chapter 8. Company Profiles
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Laura Wood, Senior Press Manager
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