Veterinary Endoscopes Market Demands and Value from 2021 to 2028

Posted on 2022-09-15 by researchinsights in Industrial // 0 Comments

Veterinary Endoscopes Industry Overview

The global veterinary endoscopes market size was valued at USD 189.6 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.6% from 2021 to 2028.

The key drivers contributing to the growth include the rising pet population, demand for minimally invasive procedures in animals, adoption by clinics to increase revenue, technological advancements, and awareness about animal diseases and treatment options. According to a study published in the Journal of the American Veterinary Medical Association, introducing rigid endoscopy and laparoscopy to a small animal general practice was found to have economic and clinical feasibility with no major complications. Adding endoscopy services thus helps increase practice revenue by expanding service offerings.

Gather more insights about the market drivers, restrains and growth of the Global Veterinary Endoscopes Market

The COVID-19 pandemic adversely affected the veterinary endoscopes market with low demand and sales. This was owing to supply chain challenges, deferred or canceled veterinary procedures, reduced veterinary visits, and movement restrictions. According to a 2020 survey by the AVMA, 18% of respondent veterinary practice owners were seeing only emergency-related cases due to the pandemic and the quarantine measures that followed. 60% of practices reported canceled appointments due to the COVID-19 outbreak. In Europe, only urgent and emergency veterinary treatment was allowed during the first half of 2020 in several key countries including Spain, Italy, France, and the U.K. This resulted in the loss of clients and revenue for practice owners, as reported by the Federation of Veterinarians of Europe (FVE). However, the situation improved as lockdown measures were eased and veterinarians were recognized as essential in most European countries.

Among veterinary endoscopes, videoendoscopy systems owing to the associated benefits such as real-time image display on a digital screen, and application in complex procedures are anticipated to gain traction in coming years. Commonly performed procedures with videoendoscopy include evaluation of the upper respiratory tract in cases of suspected abnormal breathing or nasal discharge. Videoendoscopes are also used to evaluate the urethra and bladder and to gain direct visualization of the sinuses in the head. Tele-View USB Video Endoscopes/Gastroscopes offered by Advanced Monitors Corporation, are endoscopes that can be used as ‘plug and play’ devices. These work with Windows computers, laptops, tablets, and Android devices. The endoscopes are intended for use in small animals and horses for gastroscopy, bronchoscopy, and duodenoscopy.

The rising pet ownership is another key driver expected to fuel the market growth. For example, in Europe, Germany has one of the largest pet populations according to the European Pet Food Industry report of 2020. Dogs are the predominant pets in the U.S. as per the 2019 to 2020 National Pet Owners Survey by American Pet Products Association. As per the American Veterinary Medical Association, 2.8% of households in the country had pet birds from 2017 to 2018. The population of ferrets and rabbits was 0.5 million and 2.2 million respectively. In addition, Americans spent an average of USD 40 per household per year on pet birds, as per the same source. This is expected to contribute to the demand for small animal endoscopes in the coming years. Karl Storz, for instance, offers a wide portfolio of multi-purpose rigid endoscopes and telescopes for use in cats, dogs, birds, reptiles, amphibians, small mammals, and fish for a variety of procedures.

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