Veterinary Electrosurgery Market Analysis, By Products (Bipolar Electrosurgery Instruments, Monopolar Electrosurgery Instruments), By Applications (General Surgery, Dental Surgery), By End use (Veterinary Hospitals, Veterinary Clinics) Forecasts To 2030

The global Veterinary Electrosurgery Market was valued at USD 54.42 Million in 2019 and is expected to reach USD 104.71 million by the year 2030, at a CAGR of 8.4%. Electrosurgery is a treatment method, used to cut, coagulate the tissues and control the bleeding by the use of electric current as it offers more convenience in the treatment, especially in the hard-to-reach areas; it is also done in animal surgery as it provides increased precision and requires minimal incision for conducting the procedure.

Electrosurgery is an effective treatment option for animals with tumors. The increase in the demand for Pet health insurance, especially in the developed economies, awareness among people for providing better medical facilities to the animal, availability of skilled physicians for treatment, and animal care centers and hospitals are boosting the growth of the market. The rise in the disposable income among the people for their Pets and the rising companion animal population is further enhancing the market growth. However, the lack of awareness among people for veterinary electrosurgery and high expenditure cost for pet care and treatment, and are the primary factors hindering the growth of the market.

In the year 2019, the North American Pet Health Insurance Association (NAPHIA) had reported that the pet health insurance sector of the U.S. and Canada would reach USD 2.43 million by 2018.  Dogs had represented 88.9 % of in-force gross written premium in 2018.

Covid-19 Impact on the market:

The recent outbreak of COVID-19 disease caused by a novel strain of coronavirus has created certain unique upheavals in the veterinary market. According to the surveys and interviews which we conduct regularly, many manufacturers are pointing out a muted demand for products in the coming months, on account of the global economy stalling and massive disruptions in the supply chain. Due to the impending lockdown in many countries, pet and livestock owners are expected to take their animals to veterinarians for getting treated. However, the recent case of a tiger at Bronx Zoo in New York City testing positive for COVID-19 (reported by New York Times on 6^th April 2020) is changing our understanding of this disease. COVID-19 could also be transmitted from humans to animals, as was evidenced by this case where the tiger was infected by a zookeeper. Now whether the symptoms are likely to develop in an aggravated manner, more than in humans is yet to emerge. Also, if this trend continues, surgeries might be required due to which demand for electrosurgery equipment might increase. Also, the lockdown has created a huge shortage of equipment because of supply chain disruptions due to which the electrosurgery market might see a negative impact in the short run. While China is slowly bringing facilities back online, the focus is shifting from an issue of supply (production) to demand as the broader, structural impact of the coronavirus outbreak widens. The key markets which are expected to face sales tanking include Greater China, Europe and North America, although virtually every territory faces the prospect of some degree of demand distortion in the coming months.

Key Coverage of the Report

• Region and country-wise assessment from the period 2019–2030. For the study, 2019-2018 has been utilized as historical data, 2019 as the base year, and 2020-2030, has been derived as forecasts
• Regional Competitors clinical pipeline analysis
• Demand and Supply GAP Analysis
• Market share analysis of the key industry players    
• Strategic recommendations for the new entrants
• Market forecasts for a minimum of 6 years of all the mentioned segments, and the regional markets
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments

Salient Trends of the Veterinary Electrosurgery Market

• In the year 2018, Symmetry Surgical agreed to buy Bovie Medicals for USD 97 million in cash. This acquisition would provide Symmetry Surgical the ownership of the Bovie brand and devices for electrosurgical procedures; Symmetry will now be responsible for selling the generators and line of accessories of Bovie for electrosurgical procedures.
• Symmetry Surgical, in the year 2019, expanded its product portfolio for electrosurgery procedures, by including Olsen and recently acquired Bovie. Bovie generators conduct electrosurgery with electrosurgical power at up to 72% less VPeak; this reduced the thermal spread and offered better outcomes for patients. The clinical benefit of less Vpeak was coupled with the Olsen line of energy delivery devices; this resulted in reduced tissue damage caused by thermal spread, eschar buildup, and the production of noxious smoke.
• B. Braun Melsungen AG in the year 2019 taken over business operations of Nephtec GmbH this acquisition was done to strengthen B. Braun's product portfolio in the area of the central preparation of dialysis concentrates due to the increase in the demand for dialysis due to the rise in the incidences of kidney failure.

Companies considered and profiled in this market study

Symmetry Surgical Inc. (U.S.), Covetrus Inc. (U.S.), DRE Veterinary (U.S.), B. Braun Melsungen AG (Germany), Medtronic (Ireland), Eickmeyer (U.S.), Summit Hill Laboratories (U.S.), Kwanza Veterinary (India), Burtons Medical Equipment Ltd. (U.K.), Integra Lifesciences Corporation (U.S.), LED SpA, and Keebovet Veterinary (U.S.), are the key players in the Veterinary Electrosurgery Market.

Market-O-Nomics:

• Based on the product segment, the Bipolar Electrosurgery instruments are widely used as compared with monopolar instrument and accessories as it offers better control in targeting the tissue it also prevents damage to the tissue and also controls burns associated with other electrosurgery instruments. It had held the largest market share of about 38.2% in the year 2018.
• Based on the application segment, it was found that veterinary electrosurgery is widely done for performing general surgery due to the rise in the incidences of burns, tumors, sterilization procedures and soft-tissue surgeries in animals it had obtained the largest market value in the year 2018 of about USD 18.1 million in the year 2018 and is expected to rise with CAGR of 8.7% in the forecast period.
• Based on the end use segment electrosurgery is widely conducted in veterinary hospitals due to the availability of better healthcare infrastructure, and better treatment facilities as compared with veterinary clinics
• Accessories in the product segment have obtained significant growth and is expected to rise with a CAGR of 8.1% in the forecast period.
• North America had held a significant market share of 35.1% in the year 2018 due to an increase in the demand for Pet insurance, the awareness among people about the availability of various treatments the region, and is expected to rise with a CAGR of 8.2% in the forecast period.

Segments covered in the report

This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the market trends in each of the sub-segments from 2019-2026 For the purpose of this study, Reports and Data have segmented the Veterinary Electrosurgery Market on the basis of products, applications end use, and region.

Products Outlook (Revenue in Million USD; 2019–2030)

• Bipolar Electrosurgery Instruments
• Monopolar Electrosurgery Instruments
• Consumables
• Accessories

Applications Outlook (Revenue in Million USD; 2019–2030)

• General Surgery
• Dental Surgery
• Gynecological Surgery
• Urological Surgery
• Ophthalmic Surgery
• Orthopedic Surgery
• Others

End Use Outlook (Revenue in Million USD; 2019–2030)

• Veterinary Hospitals
• Veterinary Clinics
• Others

Regional Outlook (Revenue in Million USD; 2019–2030)

• North America
• U.S
• Canada
• Europe
• Germany
• France
• UK
• Spain
• Italy
• Rest of the Europe
• Asia Pacific
• China
• India
• Japan
• Rest of Asia-Pacific
• Middle East & Africa
• Latin America
• Brazil