(I-BusinessNews.Com, July 20, 2021 ) According to research report the Veterinary Endoscopy Market is expected to reach USD 219.0 million by 2023 from USD 159.8 million in 2018, at a CAGR of 6.5%.
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The market growth is primarily driven by the growing pet population, increasing number of pet health insurance, and advanced applications of veterinary endoscopes.
North America is expected to lead the market in 2018
Based on region, the veterinary endoscopy market is segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America is expected to dominate the market in 2018. The large share can be attributed to the rising adoption of companion animals, increasing pet healthcare insurance, and improved veterinary healthcare infrastructure.
The companion animals segment is estimated to lead the veterinary endoscopy market in 2018
By animal type, this market is classified into large animals, companion animals, and other animals. The companion animals segment is expected to account for the largest share of the market in 2018. The large share can be attributed to the increasing awareness about animal health among pet owners and growing companion animal population worldwide.
By product type, the flexible endoscopes segment is expected to account for the largest share of the market in 2018
On the basis of product type, this market is classified into rigid endoscopes, flexible endoscopes, and other endoscopes. In 2018, the rigid endoscopes segment is expected to account for the largest share of the market. The large share can be attributed to the increasing requirement of the flexible endoscopes due to their innovative and advanced applications compared to rigid endoscopes.
By end user, the hospitals and academic institutes segment is expected to account for the largest share of the market in 2018
On the basis of end users, the market is segmented into hospitals and academic institutes and clinics. The hospitals and academic institutes segment is expected to account for the largest share of the veterinary endoscopy market in 2018. Most endoscopy procedures are performed in hospital-based settings which is a key factor driving the growth of this segment.
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Key players in the veterinary endoscopy market include KARL STORZ (Germany), Olympus (Japan), Fujifilm (Japan), Eickemeyer (Germany), B. Braun (Germany), STERIS (UK), Endoscopy Support Services (US), Biovision Veterinary Endoscopy (US), Welch Allyn (US), and Dr. Fritz (Germany).
Major industry players adopted geographical expansions, product launches, and acquisitions to maintain and improve their position in the market. KARL STORZ (Germany), Olympus (Japan), and Fujifilm (Japan) have been identified as key players in this market. These companies have a broad product portfolio with comprehensive features and have also expanded their presence geographically. These leaders also have products for all end users in this market, a strong geographical presence, and they focus on continuous product innovations.
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