Veterinary Video Endoscopy Market size was valued at USD 213.82 million in 2024 and is likely to exceed USD 554.13 million by the end of 2037, expanding at over 7.6% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of veterinary video endoscopy is evaluated at USD 226.82 million. The reason behind the growth is due to the rising pet population. An endoscope is a flexible tube with a video camera attachment that is used in companion animals to help veterinarians diagnose your pets more accurately and is suitable for the examination and surgery of the urinary tract and bladder. According to estimates, in 2021, there will be more than 80 million pets in the entire planet.
The growing awareness regarding zoonotic diseases is believed to fuel the market growth. This has reduced the risk of infections in animals by placing a stronger emphasis on early diagnosis and disease monitoring, leading to a higher demand for veterinary video endoscopy.
Growth Drivers
For instance, more than 65% of people on the planet will own smartphones by the end of 2022.
Challenges
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
7.6% |
|
Base Year Market Size (2024) |
USD 213.82 million |
|
Forecast Year Market Size (2037) |
USD 554.13 million |
|
Regional Scope |
|
Application (Diagnostic Applications, Interventional Applications)
The diagnostic applications segment in the veterinary video endoscopy market is estimated to gain a robust revenue share of 74% in the coming years. Veterinary video endoscopy is a flexible technology that offers a non-surgical alternative to surgery and is usually used for diagnostic purposes and treatment for evaluating gastrointestinal (GI) lesions in dogs to observe abnormalities and clinical symptoms in your pet, such as nausea, vomiting, diarrhea, loss of appetite, and weight loss. Moreover, a computer chip (image sensor) at the endoscope's tip first detects the picture, which is then electronically sent to a video processor before being projected onto the viewing monitor that gives crucial knowledge about the gastrointestinal tract's healthy operation.
Product Type (Flexible Endoscopes, Rigid Endoscopes, Capsule Endoscopes, Robot-assisted Endoscopes)
Veterinary video endoscopy market from the rigid endoscopes segment is set to garner a notable share of 46% shortly. The rigid endoscope, which has a fixed length and fixed geometry, is the best tool for non-surgically seeing the inside surfaces of small animals such as rats, mice, and other tiny animals where the inside surface's image is communicated via video technology. Moreover, rigid endoscopes open up a vast new range of minimally invasive diagnostic and treatment possibilities and give a great deal of flexibility when used for laparoscopy, which is a great way to examine and biopsy the liver, pancreas, and kidneys in cats and small dogs.
Solutions (Equipment, Accessories/Consumables, PACS)
The equipment segment is expected to account for 51% share of the global veterinary video endoscopy market by 2037. There are numerous equipment available that useful for both biopsies and the removal of foreign substances comprising sheaths, portable light handles, and flexible and rigid endoscopes, with camera attachments. These equipments are surgical instruments that can be applied to a range of veterinary health issues. Moreover, flexible endoscopes are a common piece of diagnostic equipment that includes the equipment tower, flat-screen monitors, flexible instrument storage unit, and wall suction units made by developing the most recent technologies for more precise and sophisticated treatment methods, in large animal medicine.
Animal Type (Big Animals, Small Animals, Companion Animals, Livestock Animals)
The small animals segment is set to garner a significant share during the forecast timeframe on the account of growing availability of advanced veterinary video endoscopes. For instance, numerous veterinary practices and animal hospitals across the world have started using the DE551 Veterinary Wireless Digital Video Otoscope a specialized digital video camera that transmits high-definition live video to a computer or TV to allow the user to watch and capture clear images and videos of ear mites inside their pet's ears, and also to show owners which chronic ear infections have responded well to the treatment.
Our in-depth analysis of the global market includes the following segments:
|
Solutions |
|
|
Product Type |
|
|
Animal Type |
|
|
Application |
|
|
Procedure |
|
|
End-User |
|
North American Market Forecast
Veterinary video endoscopy market in North America is predicted to account for the largest share of 36% by 2037 impelled by the rising pet insurance coverage. Plans for pet insurance include medical care and services from any US-licensed veterinarian has provided many pet owners in the region a way to reduce the amount of vet bills, and has also increased accessibility of video endoscopy, knowledgeable veterinarians, and compliance with pet insurance
According to estimates, in 2022, there were more than 4 million insured dogs in the US, around a 20% increase over 2021.
APAC Market Statistics
The APAC veterinary video endoscopy market is estimated to be the second largest, during the forecast timeframe led by rising personal disposable income. It is expected that factors including tax laws, pay increases, and social welfare programs all have an impact on disposable income levels, which in turn affects consumer spending on non-essential items like pet-related goods and services. As a result, the region has seen a multifold surge in pet ownership during the previous ten years which is expected to serve as the primary driver for the demand for advanced veterinary diagnostics including video endoscopy to treat various conditions in pets. In urban India, over 24% of the more than 1,000 respondents reported net increases in their discretionary income.
Author Credits: Radhika Pawar
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?