Veterinary Electrosurgery Market by Product (Bipolar, Monopolar, Consumables), Application (General, Gynecology, Dental, Orthopedic, Ophthalmic), Animals, End User (Vet. Hospital, Clinic), Key Stakeholder & Buying Criteria, Unmet Need - Forecast to 2028
The global veterinary electrosurgery market in terms of revenue was estimated to be worth $85 million in 2023 and is poised to reach $120 million by 2028, growing at a CAGR of 7.3% from 2023 to 2028. The new research study consists of an industry trend analysis of the market. The new research study consists of industry trends, pricing analysis, patent analysis, conference and webinar materials, key stakeholders, and buying behaviour in the market. The market is driven by the demand for precise, minimally invasive surgeries in animals. Advancements in electrosurgical technology, including AI integration and improved safety features, contribute to its growth. The pet population growth and specialized veterinary care also boost market expansion.
Attractive Opportunities in the Veterinary Electrosurgery Market
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Veterinary Electrosurgery Market Dynamics
Driver: Rising number of veterinary practitioners in developed economies
The rising number of veterinarians, particularly in developed economies, is one of the major drivers of the growth of the veterinary electrosurgery instruments market. According to the American Veterinary Medical Association (AVMA), the number of veterinary professionals in the US increased from 113,394 in 2018 to 118,624 in 2020. Similarly, according to the Royal College of Veterinary Surgeons (RCVS), the number of veterinary practices in the UK increased from 22,009 in 2016 to 28,900 in 2020. The number of veterinarians in the US, Australia, and New Zealand grows at more than 3–4% per year. Owing to this trend, the market for veterinary electrosurgery in these countries is also predictable to grow in the forecast period.
The rising income levels of veterinarians also support this market's growth. For instance, according to the US Bureau of Labor Statistics, the income of veterinarians in the US increased to USD 100,370 per annum in 2021 from USD 93,830 per annum in 2018. Similarly, according to the Office of National Statistics (UK), the income of veterinarians in the country increased to USD 54,023.40 (GBP 40,000) per annum in 2020 from USD 52,917 (GBP 32,970) per annum in 2011. Income growth is a major indicator of the rising buying potential of veterinarians, which is expected to increase the acceptance of veterinary surgical and electrosurgery instruments in the coming years.
Restraint: High cost of veterinary electrosurgery equipment
Veterinary electrosurgery instruments are highly priced products. In developed countries, such as the US, Germany, the UK, and Japan, manual electrosurgery unit costs from ~USD 1000 to USD 3000. Depending on the type of generator and special cutting modes, the price of these systems could be around USD 5000. The high cost is associated with the purchase, maintenance, and servicing costs; therefore, it is a major market restraint.
The lack of reimbursements for veterinary procedures is another limiting the uptake of veterinary electrosurgery instruments among veterinary practitioners. Veterinarians spend USD 10,000 on dental equipment and USD 4,000-5,000 on an electrosurgical generator without accessories, which costs an additional USD 1,000. Veterinary endoscopies cost between USD 800 and USD 2,000 depending on the treatment site. Thus, the high cost of veterinary electrosurgical products and procedures directly affect the number of visits by pet owners to veterinary facilities. Hence, the high cost of veterinary electrosurgery equipment is limiting the market growth.
Opportunity: Untapped emerging markets
The untapped emerging markets present a compelling opportunity for the market. As developing economies continue to witness substantial growth in their pet ownership and livestock farming sectors, the demand for advanced veterinary surgical procedures is on the rise. However, this growth potential is particularly promising in emerging markets, where access to modern veterinary surgical equipment remains limited.
For instance, in countries like India and Brazil, there has been a noticeable shift towards companion animal ownership, leading to a surge in pet healthcare expenditures. As these markets urbanize and incomes rise, more pet owners are seeking high-quality surgical care for their animals. Similarly, in the agriculture sector, emerging markets like China and South Africa are experiencing a transformation in livestock production, with a focus on improving yield and quality. Veterinary electrosurgery devices can play a pivotal role in ensuring efficient and precise surgical interventions in both companion and livestock animals.
Moreover, the cost-effectiveness of electrosurgery equipment compared to traditional surgical techniques makes it an attractive option for emerging markets with budget constraints in their healthcare and agricultural sectors. The potential for growth in these regions is underscored by the fact that many veterinary clinics and farms are currently under-equipped and lack access to the latest surgical technologies.
Challenge: Low awareness of animal health in emerging markets
The low awareness of animal health in emerging markets poses a significant challenge for the market. In these regions, limited awareness about the importance of veterinary care and surgical interventions for animals hinders the adoption of advanced technologies like electrosurgery. According to data from the Food and Agriculture Organization (FAO), many emerging economies lack comprehensive animal health infrastructure, which includes both healthcare facilities and public awareness campaigns. For instance, in sub-Saharan Africa, where livestock farming is a vital source of livelihood, the lack of awareness regarding animal health issues results in delayed or inadequate treatment, leading to significant economic losses. Similarly, in parts of Asia and Latin America, where pet ownership is growing, pet owners may not fully understand the benefits of electrosurgery in providing precise and minimally invasive procedures for their animals.
This low awareness extends to veterinarians and livestock farmers, who may not be well-informed about the advantages of electrosurgery over traditional surgical methods. In these markets, veterinary education and training often focus on basic healthcare, leaving gaps in knowledge about cutting-edge technologies. As a result, there is a reluctance to invest in costly electrosurgery equipment, despite its potential to improve surgical outcomes and reduce post-operative complications.
In conclusion, the low awareness of animal health and the benefits of electrosurgery in emerging markets impedes market growth and adoption of this advanced technology. However, with strategic efforts to raise awareness, educate veterinarians and farmers, and offer affordable solutions, the market can overcome this challenge and tap into the vast potential of these untapped markets. This not only benefits the industry but also contributes to improving animal welfare and increasing productivity in agriculture, aligning with global efforts to ensure sustainable and healthy food systems.
Veterinary Electrosurgery Market Ecosystem
Prominent companies in this market include Medtronic (Ireland), B. Braun (Germany), Integra LifeSciences (US), Olympus Corporation (Japan), Covetrus, Inc. (US), Symmetry Surgical, Inc. (US), Avante Animal Health (DRE Veterinary) (US), Summit Hill Laboratories (US), Burtons Medical Equipment Limited (UK), Eickemeyer (Germany), KLS Martin (Germany), Macan Manufacturing (US), XcelLance Medical Technologies Pvt. Ltd. (India), Alsa Apparecchi Medicali SRL (Italy), and Kentamed Ltd. (Europe).
The bipolar electrosurgical instruments segment of the veterinary electrosurgery industry accounted for the largest share.
Driving factors in the bipolar veterinary-electrosurgery market and technology include the demand for precise and minimally invasive animal surgeries. Technological advancements, including AI integration and enhanced safety features, fuel market growth. Additionally, the expansion of pet ownership and livestock farming in emerging markets has driven the need for advanced surgical tools that provide superior hemostasis and tissue sealing capabilities. As a result, the market is witnessing a shift towards bipolar instruments, reflecting their efficiency and effectiveness in addressing the evolving needs of the industry.
The veterinary clinics segment accounted for the largest share in the veterinary electrosurgery industry.
Veterinary clinics are witnessing a surge in demand for electrosurgery due to several key trends and drivers. The growing awareness about the benefits of minimally invasive procedures in animal healthcare has fueled the adoption of electrosurgery devices in veterinary clinics. These devices offer precise incisions, reduced blood loss, and faster recovery times, aligning with the increasing emphasis on animal welfare. Moreover, advancements in technology have led to the development of user-friendly and versatile electrosurgery equipment, making them accessible and easy to use for veterinarians. Additionally, the rising prevalence of various animal health disorders and the need for efficient surgical solutions further propel the dominance of electrosurgery in the veterinary market.
Small animals segment accounted for the largest share and are expected to grow at the highest rate in the veterinary electrosurgery industry.
The veterinary electrosurgery market is experiencing a growing dominance in the realm of small animals due to several key trends and drivers. First, the increasing pet ownership rates worldwide have led to a higher demand for advanced surgical procedures, pushing the need for precise and minimally invasive techniques offered by electrosurgery. Additionally, advancements in technology have made electrosurgery more accessible and user-friendly, further fueling its adoption among veterinarians specializing in small animal care. Moreover, the rising awareness of the importance of pet healthcare and the willingness of pet owners to invest in their pets' well-being are driving the growth of the small animal segment in the market.
North America is expected to account for the largest share of the veterinary electrosurgery industry.
The veterinary electrosurgery market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & and Africa. In 2022, the North American region accounted for the largest share of the market. Government initiative to boost the adoption of advanced technology like veterinary electrosurgery, increased healthcare expenditure, and rise in animal healthcare research, is expected to boost the market in this region. Additionally, North America's strong research and development capabilities foster innovation in the sector.
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The prominent players in the veterinary electrosurgery market are Medtronic (Ireland), B. Braun (Germany), Integra LifeSciences (US), Olympus Corporation (Japan), Covetrus, Inc. (US), Symmetry Surgical, Inc. (US), Avante Animal Health (DRE Veterinary) (US), Summit Hill Laboratories (US), Burtons Medical Equipment Limited (UK), Eickemeyer (Germany), KLS Martin (Germany), Macan Manufacturing (US), XcelLance Medical Technologies Pvt. Ltd. (India), Alsa Apparecchi Medicali SRL (Italy), and Kentamed Ltd. (Europe). These players include high shares in the market due to strategic mergers, acquisitions, partnerships, and large distribution channels adopted by them. This also leads to an increase in their geographic reach.
Scope of the Veterinary Electrosurgery Industry:
Report Metric |
Details |
Market Revenue in 2023 |
$85 million |
Estimated Value by 2028 |
$120 million |
Revenue Rate |
Poised to grow at a CAGR of 7.3% |
Market Driver |
Rising number of veterinary practitioners in developed economies |
Market Opportunity |
Untapped emerging markets |
The research report categorizes the Veterinary Electrosurgery Market to forecast revenue and analyze trends in each of the following submarkets:
By Product
- Bipolar Electrosurgical Instruments
- Monopolar Electrosurgical Instruments
- Consumables & Accessories
By Application
- General Surgery
- Gynaecological & Urological Surgery
- Dental Surgery
- Ophthalmic Surgery
- Orthopedic Surgery
- Other Applications
By Animal Type
- Small Animals
- Large Animals
By End User
- Veterinary Hospital
- Veterinary Clinics
- Other End Users
By Region
-
North America
- US
- Canada
-
Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
-
Asia Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Middle East and Africa
Recent Developments of Veterinary Electrosurgery Industry
- In April 2021, DRE Veterinary (US) partnered with Avante Health Solutions (US). This partnership rebranded DRE Veterinary to Avante Animal Health.
- In December 2020, Covetrus, Inc. (US) constructed a new DACH headquarters in Dusseldorf, Germany. The new headquarters focuses on the asset of Germany, Austria, and Switzerland-based teams and the firm’s Central European sites.
- In January 2020, Symmetry Surgical, Inc. (US) acquired O.R. Company (US). The acquisition complements Symmetry’s existing instrumentation portfolio and expands its minimally invasive surgical instrument offering.
Frequently Asked Questions (FAQ):
What is the projected market revenue value of the global veterinary electrosurgery market?
The global veterinary electrosurgery market boasts a total revenue value of $120 million by 2028.
What is the estimated growth rate (CAGR) of the global veterinary electrosurgery market?
The global veterinary electrosurgery market has an estimated compound annual growth rate (CAGR) of 7.3% and a revenue size in the region of $85 million in 2023.
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The study involved four major activities in estimating the current size of the veterinary electrosurgery market. Exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.
Secondary Research
Secondary sources referred to for this research study include financial statements of companies offering veterinary electrosurgery products and information from various trade, business, and professional associations. The secondary data was collected and analyzed to arrive at the overall size of the veterinary electrosurgery market, which was validated by primary respondents.
Primary Research
Extensive primary research was conducted after obtaining information regarding the veterinary electrosurgery market scenario through secondary research. Several primary interviews were conducted with market experts from both the demand and supply sides across major countries of North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Primary data was collected through questionnaires, emails, and telephonic interviews. The primary sources from the supply side included various industry experts, such as Chief X Officers (CXOs), Vice Presidents (VPs), Directors from business development, marketing, product development/innovation teams, and related key executives from veterinary electrosurgery manufacturers; distributors; and key opinion leaders.
Primary interviews were conducted to gather insights such as market statistics, data on revenue collected from the products and services, market breakdowns, market size estimations, market forecasting, and data triangulation. Primary research also helped in understanding the various trends related to technology, application, vertical, and region. Stakeholders from the demand side customers/end users who are using veterinary electrosurgery products were interviewed to understand the buyer’s perspective on the suppliers, products, and their current usage of veterinary electrosurgery and the future outlook of their business, which will affect the overall market.
Breakdown of Primary Interviews : Supply-Side Participants, By Company Type, Designation, and Region
Note 1: C-level primaries include CEOs, COOs, CTOs, and VPs.
Note 2: Other primaries include sales managers, marketing managers, and product managers.
Note 3: Companies are classified into tiers based on their total revenue. As of 2022: Tier 1=>USD 1 billion, Tier 2 = USD 500 million to USD 1 billion, Tier 3=<USD 500 million.
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Market Size Estimation
The research methodology used to estimate the size of the veterinary electrosurgery market includes the following details.
The market sizing of the market was undertaken from the global side.
Country-level Analysis: The size of the veterinary electrosurgery market was obtained from the annual presentations of leading players and secondary data available in the public domain. The share of products and services in the overall veterinary electrosurgery market was obtained from secondary data and validated by primary participants to arrive at the total Veterinary Electrosurgery market. Primary participants further validated the numbers.
Geographic market assessment (by region & country): The geographic assessment was done using the following approaches:
Approach 1: Geographic revenue contributions/splits of leading players in the market (wherever available) and respective growth trends
Approach 2: Geographic adoption trends for individual product segments by end users and growth prospects for each of the segments (assumptions and indicative estimates validated from primary interviews)
At each point, the assumptions and approaches were validated through industry experts contacted during primary research. Considering the limitations of data available from secondary research, revenue estimates for individual companies (for the overall veterinary electrosurgery market and geographic market assessment) were ascertained based on a detailed analysis of their respective product offerings, geographic reach/strength (direct or through distributors or suppliers), and the shares of the leading players in a particular region or country.
Global Veterinary Electrosurgery Market Size: Bottom-Up Approach
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Global Veterinary Electrosurgery Market Size: Top-Down Approach
Data Triangulation
After arriving at the overall size from the market size estimation process explained above, the total market was split into several segments and subsegments. The data triangulation and market breakdown procedures explained below were implemented, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics for various market segments and subsegments. The data was triangulated by studying various factors and trends from the demand and supply sides. Along with this, the market size was validated using both the top-down and bottom-up approaches.
Market Definition
Electrosurgery, refers to the cutting, coagulation, desiccation (removing intra- and extra-cellular fluid), or fulguration (tissue destruction by sparking) of tissue using a high-frequency electrical current. Veterinary electrosurgical instruments are used to treat injury and deformity in animals.
Key Stakeholders
- Veterinary electrosurgical instruments manufacturers and distributors
- Veterinary hospitals and clinics
- Veterinary institutes
- Research institutes
- Government associations
- Research & consulting firms
- Market research & consulting firms
- Animal health research and development (R&D) companies
- Business Research and Consulting Service Providers
- Venture Capitalists
Report Objectives
- To define, describe, and forecast the global veterinary electrosurgery market on the basis of product, application, animal type end user and region.
- To provide detailed information regarding the major factors influencing the market growth (drivers, restraints, opportunities, and challenges)
- To analyze micro markets with respect to individual growth trends, future prospects, and contributions to the overall market
- To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
- To forecast the size of the veterinary electrosurgery market with respect to six main regions (along with countries), namely, North America, Europe, Asia Pacific, Latin America and The Middle East and Africa
- To profile the key players in the global veterinary electrosurgery market and comprehensively analyze their core competencies and market shares
- To track and analyze competitive developments such as acquisitions, product launches, regulatory approvals, and R&D activities of the leading players in the global veterinary electrosurgery market
Available customizations
With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:
Geographic Analysis
- Further breakdown of the Rest of Europe veterinary electrosurgery market into the Netherlands, Austria, Belgium, and others
- Further breakdown of the Rest of Asia Pacific veterinary electrosurgery market into Singapore, Malaysia, and others
Company Information
- Detailed analysis and profiling of additional market players
Growth opportunities and latent adjacency in Veterinary Electrosurgery Market