Veterinary Video Endoscopy Market Report
Veterinary Video Endoscopy Market by Solutions (Equipment, Accessories/Consumables, and PACS), Animal Type (Small Animals and Large Animals), Application (Diagnostic and Surgical/Interventional), Procedure (Respiratory, Urogenital, Abdominal/GI tract, ENT, and Others), End Use (Veterinary Clinics & Hospitals and Others), and Region (North America, Europe, Asia-Pacific, and LAMEA): Opportunity Analysis and Industry Forecast, 2023-2032
Veterinary Video Endoscopy Overview
Veterinarians utilise veterinary video endoscopy as a diagnostic and therapeutic tool to see inside animals' bodies and carry out treatments. An endoscope, a flexible or rigid tube with a camera and light source attached to it, is used in this procedure. Veterinarians can inspect internal tissues, take photographs, and carry out minimally invasive procedures using the endoscope, which is put into the body through openings that naturally occur or through small incisions. Veterinarians can see and diagnose interior diseases in animals thanks to veterinary video endoscopy, which is a useful tool in veterinary medicine. It has many therapeutic and diagnostic uses that enable minimally invasive procedures and better patient outcomes.
Global Veterinary Video Endoscopy Market Analysis
The global veterinary video endoscopy market size was $191.7 million in 2022 and is predicted to grow with a CAGR of 7.9%, by generating a revenue of $408.0 million by 2032.
COVID-19 Impact on Global Veterinary Video Endoscopy Market
Telemedicine use in the veterinary sector increased dramatically as a result of the pandemic. With its capacity to conduct visual examinations over the internet, veterinary video endoscopy was a key enabler of telemedicine consultations. Veterinarian video endoscopy systems would be used more frequently if remote guidance from veterinarians could be provided to pet owners undertaking endoscopic examinations at home.
In the post-pandemic phase, there will probably still be a focus on minimising hospital stays and cutting down on the risk of infection. Being a minimally invasive procedure, veterinary video endoscopy has various benefits in terms of lessened tissue stress, quicker recuperation times, and decreased infection risks. Demand for veterinary video endoscopy equipment and services is anticipated to be driven by the preference for least invasive procedures.
Advancements in Veterinary Medicine to Drive the Market Growth
The demand for veterinary video endoscopy is driven by the ongoing improvements in veterinary medicine, including diagnostic procedures and therapeutic interventions. Endoscopy plays a crucial role in visualising and accessing interior structures when novel procedures and therapies are developed, enabling precise diagnosis and focused interventions. The desire for minimally invasive veterinary medical procedures is rising. Traditional surgical procedures can be replaced with veterinary video endoscopy, which is less intrusive and results in less discomfort, less tissue trauma, quicker recovery times, and decreased risk of problems.
Cost of Equipment to Restrain Market Growth
The expense of the endoscope itself, as well as video processors, light sources, and other auxiliary equipment, can make veterinary video endoscopy systems too expensive. Smaller veterinary practises or those with tighter finances may find it difficult to set up endoscopic facilities due to the substantial initial investment needed. The expense of upkeep, fixes, and new parts may potentially present continuous financial difficulties. Veterinary video endoscopy takes specialised education and experience to perform. In order to execute treatments safely, veterinarians must become proficient in using endoscopic equipment, comprehending picture interpretation, and performing endoscopic procedures.
Technological Advancements to Drive Excellent Opportunities
The development of technology will determine the future of veterinary video endoscopy. The integration of sophisticated imaging modalities, the miniaturisation of endoscope components, and improved manoeuvrability can all be the results of ongoing research and development efforts. High-definition imaging, 3D visualisation, and real-time image processing algorithms are examples of innovations that can help diagnose patients more accurately and enable focused therapeutic approaches. Opportunities for veterinary video endoscopy are brought about by the growth of specialised veterinary practises and the creation of new veterinary specialisations.
Global Veterinary Video Endoscopy Market Share, by Solutions, 2022
The equipment sub-segment accounted for the highest share in 2022. Equipment for endoscopy in veterinary practises needs to be dependable, strong, and able to tolerate heavy use. Veterinarians want equipment that can withstand repeated sterilisation, extended operating times, and difficult surroundings. The market is driven by the demand for robust and dependable equipment as veterinarians look for long-lasting solutions that reduce downtime and guarantee continuous performance.
Global Veterinary Video Endoscopy Market Share, by Animal Type, 2022
The small animals sector accounted for the highest market size in 2022. Small animals frequently display a range of gastrointestinal, respiratory, and urinary tract conditions that call for a precise diagnosis. An accurate detection of abnormalities, such as gastrointestinal ulcers, foreign substances, tumours, or pulmonary obstructions, is made possible by veterinary video endoscopy, which offers a direct view of interior structures. The requirement for precise and focused diagnostics in small animals is what drives the market for endoscopic tools and services.
Global Veterinary Video Endoscopy Market Share, by Application, 2022
The diagnostic sector accounted for the highest market size in 2022. Targeted tissue samples and biopsies, which are necessary for diagnosing, are made easier by veterinary video endoscopy. Endoscopy can be used by veterinarians to guide the biopsy tool, directly view the target location, and collect tissue samples for histological investigation. The capacity for accurate and focused tissue sample improves diagnostic precision and helps in formulating the best course of treatment.
Global Veterinary Video Endoscopy Market Share, by Procedure, 2022
The abdominal/GI tract sector accounted for the highest market size in 2022. Animals with gastrointestinal (GI) tract diseases are frequently affected by inflammatory bowel disease, gastrointestinal tumours, ulcers, strictures, and ingestion of foreign bodies. With direct visualisation and study of the GI tract made possible by veterinary video endoscopy, precise diagnoses can be made by spotting anomalies, taking biopsies, and determining the severity of the problem.
Global Veterinary Video Endoscopy Market Share, by End-use, 2022
The veterinary clinics & hospitals sector accounted for the highest market size in 2022. Minimally invasive techniques are being used more frequently in veterinary clinics and hospitals to lessen patient discomfort, lessen post-operative pain, and speed up recovery. Veterinarians can perform diagnostic and therapeutic operations with fewer incisions or through natural orifices thanks to veterinary video endoscopy, which offers a minimally invasive alternative to conventional surgical techniques.
Global Veterinary Video Endoscopy Market Share, by Region, 2022
The North America region accounted for the highest share of the global market in 2022. The veterinary healthcare infrastructure in North America is highly developed and sophisticated, and it consists of hospitals, specialist centres, and veterinary clinics. The demand for veterinary video endoscopy tools and services is influenced by the existence of cutting-edge facilities and specialised veterinary practises.
Competitive Scenario in the Global Veterinary Video Endoscopy Market
Product development and geographic expansion are major strategies in the highly competitive global market. In July 2020, eKuore introduced a new app called eKuore Vet to better incorporate its selection of veterinary devices, such as stethoscopes, cardiac monitors, and digital otoscopes.
Some of the leading veterinary video endoscopy market players are Steris, MDS Incorporated, Firefly Global, KARL STORZ SE & Co. KG, Ambu, Advanced Monitors Corporation, Dr. Fritz Endoscopes GmbH, Olympus Corporation, Biovision Veterinary Endoscopy, LLC, and Eickemeyer.
Historical Market Estimations
Base Year for Market Estimation
Forecast Timeline for Market Projection
North America, Europe, Asia-Pacific, and LAMEA
Segmentation by Solutions
Segmentation by Animal Type
Segmentation by Application
Segmentation by Procedure
Segmentation by End-use
Key Companies Profiled
Q1. What is the size of the veterinary video endoscopy market?
A. The size of the veterinary video endoscopy market was over $191.7 million in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 7.9% during the forecast period.
Q2. Which are the major companies in the veterinary video endoscopy market?
A. Steris and Ambu are some of the key players in the global veterinary video endoscopy market.
Q3. Which region, among others, possesses greater investment opportunities in the near future?
A. The Asia-Pacific region possesses great investment opportunities for investors to witness the most promising growth in the future.
Q4. What are the strategies opted by the leading players in this market?
A. Product development and geographic expansion are the two key strategies opted by the operating companies in this market.
Q5. Which companies are investing more on R&D practices?
A. Steris and Ambu are the companies investing more on R&D activities for developing new products and technologies.