Veterinary Endoscopy System Market Forecast (2024-2031)
The Veterinary endoscopes market size is projected to reach US$ 0.63 billion by 2031 from US$ 0.36 billion in 2023. The market is expected to register a CAGR of 7.0% during 2023–2031. Using capsule endoscopes for diagnosing gastrointestinal diseases in animals is likely to remain a key trends in the market.
Veterinary Endoscopes Market Analysis
Over the forecast period, the market is anticipated to develop faster due to the rising prevalence of gastrointestinal disorders in animals, including diarrhea, coccidiosis, melena, indigestion, and bowel blockage. The Bovine Viral Diarrhea Virus (BVDV) had a mean weighted prevalence of 39.5%, 45.2%, 49.9%, and 21.6% in Sub-Saharan Africa, South America, the Middle East, and Asia, respectively, according to a study published in Frontiers in Veterinary Science in August 2022.
Veterinary Endoscopes Market Overview
Diagnosis and treatment through endoscopy are an emerging field in the veterinary sector. Veterinary endoscopes are devices widely used for diagnosing gastrointestinal diseases in animals. Therefore, various education and training programs are being conducted to upgrade the knowledge of veterinary professionals with the latest technologies. Various companies, such as Karl Storz SE & Co. KG and Biovision Veterinary Endoscopy, LLC, also offer training programs for using veterinary endoscopic devices for diagnosis and treatment. Thus, owing to the rising number of training programs is likely to drive the growth of the veterinary endoscopes market during the forecast period
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Veterinary Endoscopes Market: Strategic Insights
Market Size Value in US$ 268.82 Million in 2018 Market Size Value by US$ 478.84 Million by 2027 Growth rate CAGR of 6.7% from 2019-2027 Forecast Period 2019-2027 Base Year 2019
Mrinal
Have a question?
Mrinal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Veterinary Endoscopes Market: Strategic Insights
| Market Size Value in | US$ 268.82 Million in 2018 |
| Market Size Value by | US$ 478.84 Million by 2027 |
| Growth rate | CAGR of 6.7% from 2019-2027 |
| Forecast Period | 2019-2027 |
| Base Year | 2019 |
Mrinal
Have a question?
Mrinal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Veterinary Endoscopes Market Drivers and Opportunities
Rising Incidences of Zoonotic Diseases to Favor Market
Zoonotic diseases are infectious diseases that are transmitted to humans through vertebrate animals. Zoonotic diseases are divided into three major types: endemic, epidemic, and emerging and re-emerging zoonoses. Among these types of emerging and re-emerging, zoonoses are emerging and showing increasing incidences in various geographic areas.
For instance, the World Health Organization (WHO) shows nearly 61% of human pathogens are zoonotic. Diseases such as Rift Valley fever, pandemic influenza H1N1 2009, SARS Yellow fever, Avian Influenza (H5N1), and (H7N9), West Nile virus are zoonotic. In addition, the Middle East respiratory syndrome coronavirus (MERS-CoV), which has increased rapidly in recent years, was caused by a zoonotic pathogen.
Growth Opportunities in the Developing Nations
The global veterinary endoscopes market is expected to grow faster in the Asia Pacific region. The countries in the Asia Pacific region are rapidly developing their techniques in the healthcare industry. Countries such as China, India, Japan, and Australia are experiencing significantly rising numbers of veterinary clinics, hospitals, and professionals.
The country is also experiencing growth in the animal-related business. The countries such as Australia, India, and China have the most significant livestock industry. The countries also have exponential growth in the dairy industry; therefore, the region is expected to serve growth opportunities for the veterinary endoscopes market. The rise in the veterinary industry is estimated to raise the demand for better health of animals to yield maximum productivity. Also, adopting advanced technology will likely create growth opportunities during the forecast period. Also, the market's growth is projected due to the rising investments in the veterinary industry.
Veterinary Endoscopes Market Report Segmentation Analysis
Key segments that contributed to the derivation of the veterinary endoscopes market analysis are product and application.
- Based on product type, the veterinary endoscopes market is divided capsule endoscopes, flexible endoscopes, rigid endoscopes. The rigid endoscopes segment held the largest market share in 2023.
- By application, the market is bifurcated into diagnostic, surgical. The diagnostic segment held a larger share of the market in 2023.
- By procedure, the market is segmented into bronchoscopy, cystoscopy, gastrointestinal, laparoscopy, otoscopy, other procedure types. The gastrointestinal segment held the largest share of the market in 2023.
- Based on end user, the veterinary endoscopes market is segmented veterinary clinic, veterinary hospitals, other end users. The veterinary clinic segment dominated market share in 2023.
Veterinary Endoscopes Market Share Analysis by Geography
The geographic scope of the veterinary endoscopes market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
The veterinary endoscopes market in the US is expected to grow significantly during the forecast period owing to the rising developments for animal welfare, rising animal-related business, and rising concern about animal health across the country. The country is the largest dairy industry, animal husbandry, and pet animal-related business market. These factors are likely to support the growth of the veterinary endoscopes market. For instance, the US is the largest producer of milk. In every state of the country, milk is produced. Also, America is the largest meat producer, supplying various countries. It is also a supplier of beef, primarily high-quality, grain-fed beef, for domestic and export use. This makes the United States a fed cattle industry in the world. Therefore, animal health is also an important concern for the US government. Hence, various animal welfare and health programs are being conducted nationwide. For instance, the Federal Register published the Final Rule on March 25, 2019, and the rule is to eradicate scrapie through a program known as National Scrapie Eradication Program Standards (NSEPS).
Veterinary Endoscopes Market Report Scope
Veterinary Endoscopes Market News and Recent Developments
The Veterinary Endoscopes Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the veterinary endoscopes market are listed below:
- OMNIVISION, launched OH02B image sensor – the first square 2 megapixel (MP) (1500 x 1500) resolution CMOS image sensor for gastrointestinal, ENT, orthopedic, surgical, dental, and veterinarian reusable and disposable endoscopes, catheters, and guide wires. It is available for disposable designs in the smallest form factor of 2.5 x 2.5 mm CameraCubeChip package (OCH2B). It features OMNIVISION’s AntLinx proprietary technology, which provides the thinnest 4-meter interface connection directly from the endoscope camera to the camera control unit (CCU) tower. The OH02B imager and OCH2B camera will be demonstrated at COMPAMED Germany, November 14-17, 2022, Hall 8a/P13. (Source: OMNIVISION, Company Website, November 2022)
- FUJIFILM India, launched a new compact ultrasonic probe system PB2020-M2 at the 3rd Annual Conference on Interventional Pulmonology – “BRONCHUS 2023”. The two-day conference at Hyderabad was attended by all leading Pulmonologists from 18 countries, where FUJIFILM India showcased its comprehensive range of Pulmonology solutions through one of its kind “Experience Center” at the trade exhibition. (Source: FUJIFILM, Company Website, January 2023)
Veterinary Endoscopes Market Report Coverage and Deliverables
The “Veterinary Endoscopes Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Veterinary endoscopes market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Veterinary endoscopes market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Veterinary endoscopes market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments.
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the XYZ market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product Type ; Application ; Procedure ; End User , and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Frequently Asked Questions
North America dominated the veterinary endoscopes market in 2023
Increasing pet animal population, growing training programs for endoscopic diagnosis, and rising incidences of zoonotic diseases.
Using capsule endoscopes to diagnose animal gastrointestinal diseases will likely remain a key market trend.
Karl Storz SE & Co. KG , Olympus Corporation, Fujifilm Holdings Corporation, Eickemeyer Veterinary Equipment Inc., HOYA Corporation, Infiniti Medical, LLC, Steris plc, Biovision Veterinary Endoscopy LLC, Endoscopy Support Services, Inc., and Welch Allyn, Inc.
The Veterinary endoscopes market size is projected to reach US$ 0.63 billion by 2031.
The market is expected to register a CAGR of 7.0% during 2023–2031.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
Get Free Sample For