Northbrook, IL 60062 -- (SBWIRE) -- 12/04/2023 -- 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 according to a new report by MarketsandMarkets™. The demand for veterinary electrosurgery is increasing due to a number of factors, including the growing pet population, the increasing awareness of the importance of preventive care, and the rising disposable incomes of pet owners. There have been a number of technological advancements in veterinary electrosurgery in recent years, such as the development of bipolar electrosurgery generators and computer-controlled electrosurgery generators. These advancements have made electrosurgery a more versatile and effective surgical technique. In addition to this, the growing demand for minimally invasive surgical procedures in veterinary medicine is also driving the growth of the veterinary electrosurgery market.

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The bipolar electrosurgical instruments devices segment holds the largest market share during the forecast period.

The veterinary electrosurgery market can be generally divided into monopolar instruments, bipolar instruments, and consumables & accessories. The veterinary electrosurgery market by product will be significantly dominated by the segment of bipolar instruments in 2022. Bipolar electrosurgery is a minimally invasive surgical technique that causes less damage to surrounding tissue and results in shorter recovery times for patients. This makes it an ideal choice for a variety of veterinary surgical procedures, such as spaying and neutering, tumor removal, and wound repair.

The general surgery segment is expected to grow at the highest rate during the forecast period.

General surgery, gynecological & urological surgery, dental surgery, orthopedic surgery, ophthalmic surgery, and other applications are the major application segments in which the veterinary electrosurgery market is widely categorized in this study. The veterinary electrosurgery market for general surgery is primarily driven by the increasing demand for precise, minimally invasive surgical procedures in general surgery. Furthermore, technological advancements, such as AI integration and improved safety features, enhance the efficiency and safety of electrosurgical procedures in general surgery.

In the end-user segment, veterinary clinics are expected to grow at the highest share in the veterinary electrosurgery market.

According to end users, the veterinary electrosurgery market can be classified into three categories: veterinary hospitals, veterinary clinics and other end users. The end users market in 2022 was dominated by the veterinary clinics. The growing implementation of veterinary electrosurgery technology in pet clinics, in addition to rising technological improvements, are factors contributing to the significant share of the market.

North America will continue to dominate the veterinary electrosurgery market in 2028.

On the basis of region, the veterinary electrosurgery market is segmented into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. North America has various advantages—an advanced healthcare system, high public and private healthcare spending, rise in the companion animal population, and the significant presence of prominent players in the region are the major factors contributing to the growth of North America and the largest share of the veterinary electrosurgery market APAC is known to grow at the highest rate. The growth in the market can be attributed to increasing R&D activities, and high growth in the veterinary healthcare industries.

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Veterinary Electrosurgery Market Dynamics:

Drivers:

1. Rising number of veterinary practitioners in developed economies

Restraints:

1. High cost of veterinary electrosurgery equipment

Opportunities:

1. Untapped emerging markets

Challenge:

1. Low awareness of animal health in emerging markets

Key Market Players of Antibody Drug Conjugates Industry:

The veterinary electrosurgery market is a consolidated market, the prominent players in the global 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).

Recent Developments:

- 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.

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