Close Relationships with Companion Animals favoring adoption of Minimally Invasive Procedures to alleviate Post-Surgical Pain charts Growth in Veterinary Endoscopes Market, Market Projected to expand at a CAGR of 7.1% from 2019 - 2027: TMR
- Rising acceptance of veterinary endoscopy for gastrointestinal problems of both companion animals and farm animals charts growth.
- Statistically, more than 50% households in Canada own a pet that are keen on adoption of modern veterinary medicine expands revenue streams.
ALBANY, N.Y., March 15, 2021 /PRNewswire/ -- With a high degree of advancement in veterinary care, pet owners expect a higher level of care and even seek minimally invasive procedures for their pets. To extend this level of heath care, endoscopy is a versatile tool that provides nonsurgical option for the diagnosis and treatment of a number of diseases.
Gastrointestinal endoscopy represents the most common use of endoscope in veterinary medicine. Gastrointestinal parasitism infections is a major problem in companion animals and livestock animals that causes oedema, diarrhea, pain, and even death. According to a 2017 report of the All-island Animal Disease Surveillance, digestive tract diseases such as scour and inflammation of the intestine accounted for more than 40% cattle deaths. Secondly, rising interest of pet owners to undertake endoscopic procedures for their pets for gastrointestinal problems is creating demand for veterinary endoscopy.
Besides this, the use of veterinary endoscopy can be extended to examine multiple body systems, including foreign body retrieval, feeding tube placement, and stone removal. This, in turn is creating opportunities in the veterinary endoscopes market.
Veterinary Endoscopes Market –Key Findings of the Report
Product Advancements and Integration of Video Imaging Technology boosts Revenue Streams
In the recent past, veterinary endoscopy devices have evolved by means of integration of avant-garde technology. Manufacturers of veterinary endoscopes are keen to introduce novel products in order to accentuate their clinical use. The integration of video imaging technology in veterinary endoscopes is enormously helping veterinarians during diagnosis and medical procedures. Besides this, the pain factor of traditional veterinary medicine is resulting in rising acceptance of modern veterinary medicine, including veterinary endoscopy. Benefits of veterinary endoscopy of less trauma and quick recovery time for animals is further attracting pet owners to adopt this practice.
Government backing in Emerging Countries adds Extra Stars of Growth
The increasing aid for veterinary endoscopy provided by governments in some emerging economies is indirectly creating opportunities in the veterinary endoscopes market. According to the 12th five-year plan of the Government of India, a number of initiatives are under consideration to expand the basic health care coverage for farming cattle. In addition, substantial funds provided by the Department of Animal Husbandry, Dairying and Fisheries for improvement of health of farming cattle, which is in the scope of veterinary medicine, is indirectly boosting the veterinary endoscopes market.
Business Alliances among Key Players Strokes Paint of Growth
In a key business development, Harvard Bioscience – a leading players in the veterinary endoscopes market acquired Multi Channel System GmbH. The acquisition helped to provide additional support to the former in expanding its product portfolio within the in vitro and in vivo electrophysiology segment.
In another key business development, Harvard Bioscience acquired Triangle BioSystems Inc. – a
Leading manufacturer of wireless interface devices. The latter's products find extensive use in electrophysiology, neurology, psychology, and pharmacology for human diseases and animal diseases.
Rising acceptance of minimally invasive endoscopic procedures for companion animals, especially for gastrointestinal problems spurring growth in veterinary endoscopes market.
High pet ownership in North America and attitude of pet owners toward pets as a family number accounts for substantial spending on pet health and pet well-being. This includes high spending on pet supplies, higher quality pet food, and expensive veterinary treatment. Such pursuits are indirectly expanding growth avenues in veterinary endoscopes market.
Veterinary Endoscopes Market –Key Players
Harvard Bioscience Infiniti Medical
Fujifilm Holdings Corporation
Richard Wolf GmbH
KARL STORZ SE & Co. KG
Jorgen Kruuse A/S
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