Global Veterinary Electrosurgery Market (2023-2028) Competitive Analysis, Impact of Covid-19, Ansoff Analysis

Pet Food Manufacturers Association (United Kingdom) reported that in the year 2021, 17 million (59% of) households in the United Kingdom owned a pet

The Global Veterinary Electrosurgery Market is estimated to be USD 78.24 Bn in 2023 and is expected to reach USD 101.62 Bn by 2028 growing at a CAGR of 5.37%.

Electrosurgery refers to the application of a high-frequency electrical current to biological tissue to cut, coagulate, or desiccate the tissue. To cut, coagulate, or desiccate biological tissue, electrosurgery involves applying a high-frequency electrical current to the tissue. For more than 60 years, hospitals have used it frequently. The US Centers for Disease Control and Prevention estimate that electrosurgical instruments are utilized in approximately 41 million procedures annually, or more than 80% of all surgical procedures performed on humans today. Animal health practitioners are now utilizing these useful time-saving tools worldwide.

The increased use of pet health insurance to pay for veterinarian services in industrialized nations is expected to fuel market expansion. Canada, the UK, and Sweden all have booming pet health insurance industries. The adoption of pet health insurance has rapidly increased in China. The rise in popularity of pets and the expansion of knowledge about pet health are two important aspects that have influenced the creation of pet healthcare insurance, contributing to the growth of the veterinary electrosurgery market.

However, electrosurgery equipment is often expensive, and rising pet healthcare costs may make it difficult for some pet owners to afford elective procedures that require the use of this equipment. This can reduce demand for veterinary electrosurgery services, which can slow the market's growth. In addition, rising pet healthcare costs may increase competition between veterinary practices as pet owners become more price sensitive. This can pressure practices to lower their prices, making it difficult for them to invest in expensive electrosurgery equipment.

Also, the shortage of skilled practitioners and pathologists is challenging the market's growth, particularly in emerging countries. Moreover, most veterinarians globally work as private practitioners dedicated to companion animals, leading to a shortage of resources. Livestock animals such as farm and food-producing animals. Hence, the lack of skilled professionals, especially in developing nations, is a major factor limiting market growth.

• On the contrary, emerging trends in animal health and clinical development, including technological developments, have been seen in recent years. For various surgical applications, veterinary surgery has gone beyond the customary, traditional techniques based on scalpels. Modern energy-based surgical methods, like electrosurgery, have made operations quicker and more effective. With routine and complex veterinary treatments, electrosurgical units are becoming more common. Also, nearly 80% of all surgical procedures, including veterinary procedures, use electrosurgical units. Thus, it aids in market expansion.

Market Segmentations

• The Global Veterinary Electrosurgery Market is segmented based on Product, Animal Type, Application, End-Use, and Geography.
• By Product, the market is classified into Bipolar Electrosurgery Instruments, Monopolar Electrosurgery Instruments, and Consumables & Accessories.
• The bipolar electrosurgery instruments holds the highest market share. Bipolar electrosurgery delivers highly concentrated energy to a relatively small area of tissue. Hence, offers a significant reduction in the danger of patient burns. Bipolar electrosurgery is therefore often used by surgeons when performing procedures as a result of its benefits.
• By Animal Type, the market is classified into Small Animal and Large Animal.
• Small Animal type segment accounts for the highest share due to rising pet healthcare spending especially in developing countries.
• By Application, the market is classified into General Surgery, Dental Surgery, Gynecological & Urological Surgery, Orthopedic Surgery, and Others.
• General Surgery segment dominates the market and holds the largest share. This can be attributed to the rise in number of general surgery, such as soft tissue surgeries and sterilization procedures performed on animals.
• By End-Use, the market is classified into Veterinary Hospitals, and Clinics and Others.
• Veterinary Hospitals and Clinics segment holds the largest market share. The high adoption rate of veterinary electrosurgical instruments in veterinary hospitals, the rise in demand for these instruments in veterinary hospitals, and the increase in the number of operations carried out in veterinary hospitals are all factors that contribute to the large share of this end-user segment.
• By Geography, the market is classified into the Americas, Europe, Middle East & Africa and Asia-Pacific.
• The Americas accounts for the highest market share. The cost of veterinary treatment has significantly increased in the area, which is anticipated to accelerate the market's expansion. Also, the presence of healthcare programmes and an increase in the quantity of activities to enhance animal health are factors that are projected to boost this region's growth potential.

Recent Development

• The new POWERSEAL series of cutting-edge bipolar surgical energy solutions were introduced by Olympus with its first devices. By providing consistent sealing dependability in an ergonomic, multifunctional design that encourages procedural efficiency, the POWERSEAL Curved Jaw Tissue Sealer and Divider, Double-Action devices exceed all the standards of clinical performance for advanced bipolar surgical energy devices - September 2021.
• A new synthetic feline surgical training model has been introduced by SynDaver, an advanced biotechnology company specializing in synthetic educational human and animal simulators. With the help of this innovative tool, veterinary students may learn how to execute feline spay procedures without worrying about risking a live patient - April 2021.

Company Profiles

The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for the publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are Avante Animal Health, Covetrus, Inc., Heal Force, Integra Lifesciences, etc.

Countries Studied

• America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
• Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
• Middle East and Africa (Egypt, Israel, Qatar, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
• Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

Competitive Quadrant

The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Ansoff Analysis

• The report presents a detailed Ansoff matrix analysis for the Global Veterinary Electrosurgery Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
• The publisher analyses the Global Veterinary Electrosurgery Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
• Based on the SWOT analysis conducted on the industry and industry players, the publisher has devised suitable strategies for market growth.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Veterinary Electrosurgery Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The research report also provides a detailed market size analysis and projections in volume and value terms. The projections are calculated using verified research methodologies.
• Excel data sheet for the market size will also be provided with the report.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter’s 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 on the market is also featured in the report.
• The report includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report includes Self-Assessment Form, which helps customers evaluate their position in the market compared to their competitors.
• The report offers customized research - tailored uniquely to our customers with a quick turnaround time. We offer a 15% customization option at no extra charge to all our clients for any of our syndicated reports.

Report Highlights:

• A complete analysis of the market, including the parent industry
• Important market dynamics and trends
• Impact Analysis - a comprehensive assessment to confront risk and make strategic & operational decisions to counter the changes in the market environment.
• Market segmentation
• Competitive Analysis: Comparative analysis of competitor
• Historical, current, and projected size of the market based on value and volume
• Market size of the US states
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market