In a recently published report, Global Veterinary Electrosurgery Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Global Veterinary Electrosurgery Market products.
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Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.
Global Veterinary Electrosurgery Market is valued approximately at USD 56 million in 2019 and is anticipated to grow with a healthy growth rate of more than 8.6% over the forecast period 2020-2027. Veterinary electrosurgery is a subset of a radio frequency with irregular polarity of electric current to thicken or cut the biological tissue. It is frequently used in surgical procedures for more than 60 years. More often, these devices applied for accurate surgical cutting or examining the bleeding by causing coagulation at the surgical spot. Electrosurgery devices, including electrodes, coagulators, probes, and other devices use high-frequency alternating current (AC) to execute their corresponding functions. Further, this procedure is proven to be as efficient treatment option for animals with tumors, and are often extremely safe, thereby driving the market growth all over the world.
Moreover, the increasing number of veterinarians will further amplify the development of veterinary electrosurgery across the globe. According to Statista, in 2016, around 20 thousand veterinarians estimated in the United Kingdom and is increased to almost 23 thousand veterinarians in 2018. Also, the slighter increase was reported in 2019 with almost 25 thousand of veterinarians. In addition, the growing pet ownership and spending on pets, along with the rapid growth in the number of veterinary practitioners are the few factors responsible for the high CAGR of the market during the forecast period. As per the American Society for the Prevention of Cruelty to Animals (ASPCA), in the United States, roughly 6.5 million companion animals are undertaken into the animal shelters each year. Similarly, according to the Canadian Animal health Institute (CAHI), the overall number of household pet expanded in Canada. The pet dog population has increased from 7.6 million in 2016 to 8.2 million in 2018. Whereas, the pet cat population estimated around 8.3 million in 2018. This, in turn, is expected to strengthen the market growth all over the world. However, the rising pet care cost, coupled with lack of awareness concerning veterinary electrosurgery are the few major factors limiting the market growth over the forecast period of 2020-2027.
The regional analysis of the global veterinary electrosurgery market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the increasing ownership of companion pet animals, and the presence of a significant number of market vendors in the region. Whereas Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the rising awareness about animal welfare along with growing pet population across developing countries, such as China and India, would create lucrative growth prospects for the veterinary electrosurgery market across the Asia-Pacific region.
Major market player included in this report are:
Symmetry Surgical, Inc.
DRE Veterinary
B. Braun Melsungen AG
Medtronic PLC
Eickemeyer Veterinary Equipment, Inc.
Summit Hill Laboratories
Kwanza Veterinary
Burtons Medical Equipment, Ltd.
Integra Lifesciences Holdings Corp.
Covetrus Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product:
Bipolar Electrosurgical Instruments
Monopolar Electrosurgical Instruments
Consumables & Accessories
By Application:
General Surgery
Gynecological & Urological Surgery
Dental Surgery
Orthopedic Surgery
Others
By Animal Type:
Small Animals
Large Animals
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
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Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Veterinary Electrosurgery Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
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