CHICAGO, Sept. 12, 2019 /PRNewswire/ -- According to the new market research report "Veterinary Electrosurgery Market by Product (Mopolar Electrosurgery, Bipolar Electrosurgery, Consumables), Application (General, Ophthalmic, Orthopedic, Urologic, Dental surgery), Animals (Large,Small Animals), End-User, Region - Global Forecast to 2024", published by MarketsandMarkets™, the Veterinary Electrosurgery Market is projected to reach USD 85 million by 2024 from USD 56 million in 2019, at a CAGR of 8.5%.
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Factors such as the rising demand for pet health insurance, growth in the number of veterinary practitioners in developed economies, and rising number of companion animals are driving the demand for Veterinary Electrosurgery Market.
The bipolar electrosurgical instruments segment accounted for the largest share of the veterinary electrosurgical instruments market, by product, in 2018
Based on product, the veterinary electrosurgical instruments market is segmented into bipolar electrosurgical instruments, monopolar electrosurgical instruments, and consumables & accessories. The bipolar electrosurgical instruments segment accounted for the largest share of the Veterinary Electrosurgery Market in 2018. The large share of this segment can be attributed to the high sales price of bipolar electrosurgery instruments as compared to monopolar electrosurgical instruments and the wide adoption of bipolar instruments in animal surgeries.
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By end user, the veterinary hospitals segment accounted for the largest market share in 2018
Based on end user, the veterinary electrosurgical instruments market is segmented into veterinary hospitals, veterinary clinics, and other end users. In 2018, the veterinary hospitals segment accounted for the largest share of the Veterinary Electrosurgery Market. The adoption of veterinary electrosurgical instruments is higher in veterinary hospitals owing to the higher purchasing power and the higher volume of surgeries performed in these hospitals.
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The Asia Pacific market is expected to witness the highest growth in the veterinary electrosurgical instruments market from 2019 to 2024
The global veterinary electrosurgical instruments market is segmented into five major regions—North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. During the forecast period, the Asia Pacific market is estimated to grow at the highest CAGR primarily due to the increasing consumption of meat and dairy products, the growing population of livestock animals, and the rising pet adoption rate and per capita income in several Asia Pacific countries.
The key players in the Veterinary Electrosurgery Market are Symmetry Surgical Inc. (US), Covetrus Inc. (US), DRE Veterinary (US), B. Braun Melsungen AG (Germany), Medtronic (Ireland), Eickmeyer (US), Summit Hill Laboratories (US), Kwanza Veterinary (India), Burtons Medical Equipment Ltd. (UK), Integra Lifesciences Corporation (US), LED SpA, and Keebovet Veterinary (US).
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