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A08433 | Pages: 356 | Charts: 64 | Tables: 180 |
The global Veterinary Electrosurgery Market size was valued at $463.6 million in 2021 and is projected to reach $866.3 million by 2031, growing at a CAGR of 6.4% from 2022 to 2031. Veterinary electrosurgical devices are used for surgical cutting or controlling bleeding by causing coagulation at the surgical site. Electrosurgery devices such as electrodes, probes, coagulators, and other devices use high-frequency alternating currents to perform their respective functions. There are two types of electrosurgery devices that are used: electrocautery and high-frequency electrosurgery. Electrosurgery instruments are available in two forms: monopolar and bipolar. There are two main types of electrosurgery. Monopolar electrosurgery is used to cut through tissue and to cauterize blood vessels. It has various different requirements for proper function. Electricity comes from the electro-surgical generator (ESG). An active electrode is then put through the patient's body. A large sheet of metal is placed under the dog as a grounding plate to collect and return the energy to the ESG. Bipolar electrosurgery is basically the same except instead of a grounding plate, one end of a tool such as scissors or forceps is the return electrode. Electrosurgery is an effective treatment option for animals with tumors. Electrosurgery has been commonly used in surgical procedures for over 60 years, and it is used in over 80% of all human surgical procedures in almost all surgical specialties. It is estimated that electrosurgery energy devices are used in over 41 million procedures per year.
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The key factors that drive the growth of the market are increasing surgical procedures on pets such as dental surgeries, cataract surgeries, spaying, hip dysplasia, and wound repair. For instance, according to a report published by the World Health Organization, it is found that around 2.0 million surgical methods are used on animals every year to protect them from diseases. Moreover, an increasing number of skilled practitioners who are enabled to perform these surgeries and have expertise related to these devices boosts the growth of the market.
Furthermore, a rise in technological advancements in the instruments, a rise in the demand for animal health insurance, and an increase in the number of adoptions of animals are the key factos that contributing to the growth of Veterinary Electrosurgery Market size in forecast period. Many government initiatives are conducted to reduce disease prevalence among animals, which leads to the growth of the market. The launch of advanced products for the treatment of animals with minimal side effects will drive the market's growth. However, the dearth of skilled professionals and high pet care costs hamper the market's growth. Conversely, the emerging healthcare market in developing countries is expected to provide the Veterinary Electrosurgery Market opportunity during the forecast period.
In addition, the market is segmented on the basis of product, application, end-user, and region. By product, the market is segmented into bipolar electrosurgery instruments, monopolar electrosurgery instruments, and consumables and accessories. By application, the market is segmented into general surgery, gynecological and urological surgery, dental surgery, ophthalmic surgery, orthopedic surgery, and other. By end user the market is segmented into veterinary hospitals, veterinary clinics and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Product Segment review
By Product, the veterinary electrosurgery market is segmented into bipolar electrosurgery instruments, monopolar electrosurgery instruments, and consumables and accessories. In 2021, the bipolar electrosurgery segment accounted for the largest share of the market. The dominance of this segment can be attributed to the rise in the prevalence of skin cancer in animals and other related disorders and the increase in adoption of companion animals increases the demand of bipolar electrosurgery instruments such as electrosurgery pencils, laparoscopy tools, and forceps.
The monopolar electrosurgery instruments segment is anticipated to grow at a significant rate during the forecast period. Owing to the number of companion animals and their adoption rate have increased significantly over the world. The COVID-19 pandemic also plays an important role in the increase in the number of companion animal adoption due to loneliness and the need for company during the pandemic.
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Application Segment Review
By application, the Veterinary Electrosurgery Industry is segmented into general surgery, gynecological and urological surgery, dental surgery, ophthalmic surgery, orthopedic surgery, and others, the general surgery segment exhibited the highest growth in 2021, and is anticipated to lead during the forecast period, owing to the increase in demand for soft tissue surgical procedures are the key factors that drive the Veterinary Electrosurgery Market growth during the forecast period.
The gynecological and urological segment is anticipated to grow at a significant rate during the forecast period. owing to the increase in the number of gynecological and urological procedures conducted by veterinary practitioners due to rise in the prevalence of the disease.
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End User Segment Review
By end user, the veterinary electrosurgery market is segmented into veterinary hospitals, veterinary clinics, and others, the veterinary hospital's segment exhibited the highest growth in 2021, and is anticipated to lead during the forecast period, owing to the rise in awareness among pet owners regarding animal healthcare and the increase in the number of veterinary hospitals visited by pet owners due to the rise in the prevalence of skin cancer and other various diseases among companion animals are the key factors that drive the growth of the market.
The veterinary clinic segment is expected to witness considerable market growth during the forecast period, owing to the increasing humanization of pets, as an increasing number of pet owners are accepting pets as family members and a rise in the prevalence of animal diseases that require a surgical procedure for treatment.
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Region Segment Review
Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for a majority of the veterinary electrosurgery market share in 2021 and is anticipated to remain dominant during the forecast period. Owing to the increase in the healthcare expenditure on animals in this region and the presence of major players in the country for the development of technologically advanced electrosurgical devices and the strategies they adopt.
Asia-Pacific was the second largest contributor to the veterinary electrosurgery market in 2021 and is expected to register the fastest CAGR during the forecast period, owing to a rise in the prevalence of animal-related diseases and an increase in the number of companion animal pet adoption and an emerging economy.
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The key players that operate in the veterinary electrosurgery market are 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
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Key Market Segments
Key Market Players