Rising animal population, new product launches, and strategic collaboration are key factors contributing to the high CAGR of the Veterinary Electrosurgery market during the forecast period.
According to current reports and data analysis, the global Veterinary Electrosurgery Market was valued at USD 54.42 Million in 2019 and is projected to reach USD 104.71 Million by 2027, growing at a CAGR of 8.4% . Electrosurgery is a method of treatment where electric currents are used to cut, coagulate tissue and control bleeding with greater convenience, especially in hard to reach areas, the procedure is also carried out in animal surgery as it ensures increased accuracy and is a minimally invasive treatment. Electrosurgery is an effective treatment option for animals with tumors. The increase in demand for pet health insurance especially in developed countries, the availability of qualified and experienced doctors for treatment, the awareness of people to provide better medical facilities for the pet and the Accessibility to animal care centers and hospitals are driving the market growth. Rising pet population and increasing disposable income of people for their pets is further driving the growth of the market. However, high cost of expenditure for pet care and treatment and lack of people’s awareness about veterinary electrosurgery are the major factors hampering the growth of the market.
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The report provides a comprehensive assessment of the market covering key elements such as revenue estimates, cost analysis, import/export, production and consumption trends, CAGR, gross margin, and supply patterns and request. It also highlights recent technological developments, product advancements, and research and development activities in the region.
The report examines the major players operating in the market along with their market position, market share, revenue, gross margin, and business strategies. SWOT analysis and Porter’s five forces analysis are used to examine and assess the market and its players. It also covers recent mergers and acquisitions, joint ventures, collaborations, agreements, partnerships, product launches and brand promotions.
Key companies profiled in the report include:
Symmetry Surgical Inc. (USA), Covetrus Inc. (USA), DRE Veterinary (USA), B. Braun Melsungen AG (Germany), Medtronic (Ireland), Eickmeyer (USA), Summit Hill Laboratories (USA), Kwanza Veterinary (India), Burtons Medical Equipment Ltd. (UK), Integra Lifesciences Corporation (USA), LED SpA and Keebovet Veterinary (USA)
Market segmentation by types:
Product Outlook (Revenue in USD Million; 2017-2027)
- Bipolar electrosurgery instruments
- Monopolar electrosurgery instruments
Market segmentation by applications:
Application Outlook (Revenue USD Million; 2017-2027)
- General surgery
- Dental surgery
- Gynecological surgery
- Urological surgery
- Ophthalmic surgery
- Orthopedic surgery
- Other Apps
End-Use Outlook (Revenue USD Million; 2017-2027)
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The regional analysis covers an in-depth analysis of the revenue analysis, market share and growth rate of the global veterinary electrosurgery market in each region for the forecast period 2021-2028. The report covers production and consumption rate, current and emerging trends, import/export, supply and demand, and the presence of key players in each region.
- North America
- The rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- South Africa
- Rest of MEA
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Other key findings from the report suggest
- Symmetry Surgical acquired in January 2020, the OR company, the company is involved in the development, manufacturing and production of high quality, innovative surgical devices. This acquisition would help Symmetry Surgical expand its product portfolio in the minimally invasive surgical instrument. This acquisition would strengthen Symmetry Surgical to provide cost-effective solutions for patient care, particularly in gynecological and laparoscopic procedures.
- B. Braun Melsungen AG, in 2018, signed an agreement to acquire the blood lines business of (NxStage). This acquisition was made to expand the B. Braun product portfolio in dialysis.
- Asia-Pacific in the regional segment had the highest CAGR of 9.5% during the forecast period owing to the upsurge in pet adoption in the region and the increase veterinary practices.
- North America held the largest share of 35.1% in 2018 in the regional segment owing to the increased demand for pet insurance in the region
- Medtronic, in February 2020, acquired the company Digital Surgery. The company is based on surgical artificial intelligence; this acquisition was intended to strengthen Medtronic in a robot-assisted surgery platform and expand the company’s product portfolio.
- In 2016, Bovie renewed its Bovie 1250S-V, Specialist | PRO, 120 watt electrosurgical generator with the combination of Smoke Shark; it is a smoke evacuator. It provides a complete and accurate energy system as well as safe and efficient smoke particle capture capabilities. Smoke Shark consists of four-stage filters to effectively capture smoke and particulates within the surgical site and offers 99.99% efficiency.
- Medtronic announced in January 2020 the acquisition of Stimgenics, LLC, Stimgenics is involved in a new waveform of spinal cord stimulation (SCS) known as Multiplexed Target Differential Spinal Cord Stimulation (DTM). This acquisition was made to enhance Medtronics’ product portfolio in the treatment of chronic pain.
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