Predicted Growth Trajectory of Veterinary Endoscopes Market Through 2031

Wilmington, United States, 2024-Mar-01-Transparency Market Research-a leading provider of market intelligence and consulting services, has released a comprehensive report on the global veterinary endoscopes market, spanning historical data from 2017 to 2018 and offering forecasts up to 2027. The report highlights key insights into market size, growth trends, key players, competitive landscape, market drivers, challenges, trends, and future outlook, catering to stakeholders looking to enter, expand, or optimize their presence in the market.

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According to the report, the global veterinary endoscopes market was valued at US$ 458.3 million in 2018 and is expected to register a robust CAGR of 7.1% from 2019 to 2027. One of the primary drivers contributing to this growth is the exponential rise in the global pet population, particularly among companion animals. With a growing incidence of gastrointestinal diseases among animals, there has been a surge in demand for endoscopic procedures for both diagnostic and surgical purposes.

Key findings from the report indicate that gastrointestinal parasitism infections, prevalent in both companion and livestock animals, have become a significant concern. Digestive tract diseases such as inflammation of the intestine and scour account for a considerable portion of animal deaths. Consequently, veterinary hospitals and clinics are witnessing an increased number of endoscopy procedures, thus bolstering the veterinary endoscopes market.

Furthermore, the market is experiencing a surge in demand for minimally invasive procedures for pets, driven by technological advancements in endoscopy devices and a growing preference for less traumatic surgical approaches among pet owners. Manufacturers are continuously innovating to integrate enhanced diagnostic and surgical capabilities into endoscopic devices, allowing veterinarians to deliver customized services with reduced recovery times for animals.

Despite the promising growth prospects, the high cost of veterinary endoscope procedures remains a significant barrier, especially in emerging economies. Endoscopy procedures can cost anywhere from US$ 800 to US$ 2,000, depending on various factors such as the site of treatment, animal condition, and anesthesia used. This cost factor presents a challenge for widespread adoption, particularly in regions with limited financial resources.

The competitive landscape of the global veterinary endoscopes market is highly fragmented, with numerous international and regional players vying for market share. Key players profiled in the report include Harvard Bioscience, Infiniti Medical, Olympus Corporation, Fujifilm Holdings Corporation, KARL STORZ SE & Co. KG, Richard Wolf GmbH, STERIS plc, ESS, Inc., Jorgen Kruuse A/S, and HOYA Corporation (PENTAX Medical).

To capitalize on growth opportunities in the veterinary endoscopes market, players are focusing on regulatory approvals, technological advancements, product launches, and strategic collaborations. For instance, Harvard Bioscience acquired Multi Channel System GmbH and Triangle BioSystems Inc., expanding its product portfolio in the in vitro & in vivo electrophysiology segment and neuroscience products.

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