Albany, NY -- (SBWIRE) -- 02/11/2020 -- Veterinary Electrosurgery Market: Introduction
Veterinary electrosurgical devices are used for surgical cutting or controlling the bleeding by causing coagulation at the surgical site. Electrosurgery devices such as electrodes, probes, coagulators, and other devices use high-frequency alternating current to perform their respective functions.
There are two type electrosurgeries: electrocautery and high frequency electrosurgery. Electrosurgery instruments are available in two forms: monopolar and bipolar.
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Key Drivers and Restraints of Global Veterinary Electrosurgery Market
Increase in pet ownership and growth of the pet industry are driving the global veterinary electrosurgery market during the forecast period. According to the National Pet Owners Survey conducted by the American Pet Products Association (APPA) in 2017, around 68% of households own a companion animal or a pet in the U.S.
According to a report published by the Federal Trade Commission (FTC), the U.S. government spent around US$ 69.5 Bn in 2017 on the pet industry, which includes food, veterinary care, prescription and OTC medications, and other pet services and products
Increase in the number of veterinary practitioners and rise in demand for pet insurance are likely to propel the growth of the global veterinary elctrosurgery market
Pet care cost and lack of awareness about veterinary electrosurgery is restraining the veterinary elctrosurgery market
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Bipolar Electrosurgical Instruments Segment to Witness High Demand
Based on product, the global veterinary electrosurgery market can be segmented into bipolar electrosurgery instruments, monopolar electrosurgery instruments, and consumables & accessories
Bipolar electrosurgical instruments product segment accounted for the highest share of the global veterinary electrosurgery market in 2018. This segment is expected to remain dominant during the forecast period. This dominance of the segment can be ascribed to high adoption rate of these instruments in animal surgeries and price as compared to monopolar electrosurgical instruments.
General Surgery Segment to Witness Significant Growth
In terms of application, the global veterinary electrosurgery market can be divided into general surgery, dental surgery, gynecological & urological surgery, ophthalmic surgery, orthopedic surgery, and other applications
General surgery segment generated the highest revenue in 2018 and is anticipated to witness growth during the forecast period. This can be attributed to the increase in the number of general surgeries, such as sterilization procedures and soft-tissue surgeries, performed on animals.
Veterinary Hospitals Segment to Dominate Global Veterinary Electrosurgery Market
Based on end-user, the global veterinary electrosurgery market can be categorized into veterinary hospitals, veterinary clinics, and others
Veterinary hospitals end-user segment dominated the global veterinary electrosurgery market in 2018. The large share of this end-user segment can be attributed to the high adoption rate of veterinary elctrosurgical instruments in veterinary hospitals, increase in demand for these instruments in veterinary hospitals, and rise in the number of surgeries performed in veterinary hospitals.
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North America to Dominate Global Veterinary Electrosurgery Market
In terms of region, the global veterinary electrosurgery market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
North America dominated the global veterinary electrosurgery market in 2018 and is expected to maintain its leading position during the forecast period. This dominance of the region can be attributed to the growing pet insurance industry and rising veterinary health care expenditure.
Veterinary Elctrosurgery Market in Asia Pacific is projected to register the highest growth during the forecast period, owing to increasing adoption of pets and growing veterinary practices
Key Manufacturers Operating in Global Veterinary Electrosurgery Market
The global veterinary electrosurgery market was highly fragmented in 2018. Key manufacturers operating in the global market are:
Symmetry Surgical Inc.
Covetrus Inc.
Medtronic plc
DRE Veterinary
B.Braun Melsungen AG
Eickemeyer Veterinary Equipment Inc.
Integra Lifesciences Corporation
Summit Hill Laboratories
Burtons Medical Equipment Ltd