The rising in the animal population, new product launches, and strategic collaboration, are key factors contributing to the high CAGR of the Veterinary Electrosurgery market during the forecast period.
According to the current analysis of Reports and Data, the global Veterinary Electrosurgery Market valued at USD 54.42 million in 2019 and is expected to reach USD 104.71 million by the year 2027, at a CAGR of 8.4%. Electrosurgery is a method of treatment where electric currents are used to cut, coagulate the tissues and control the bleeding with more convenience, especially in the hard-to-reach areas, the procedure is also conducted in animal surgery as it ensures increased precision and is a minimally invasive treatment. Electrosurgery is an effective treatment option for animals with tumors. The rise in the demand for Pet health insurance, especially in the developed countries, availability of skilled and experienced physicians for treatment, awareness among people for providing better medical facilities to the animal, and the accessibility to the animal care centers and hospitals are boosting the growth of the market. The rise in companion animal population and the rise in the disposable income among the people for their Pets is further promoting market growth. However, the high cost of expenditure for pet care and treatment and the lack of awareness among people for veterinary electrosurgery is the primary factors hindering the growth of the market.
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The report provides comprehensive assessment of the market covering key elements such as revenue estimations, cost analysis, import/export, production and consumption trends, CAGR, gross margin, and supply & demand patterns. It also sheds light on recent technological developments, product advancements, and research and development activities in the region.
The report examines the key players operating in the market along with their market position, market share, revenue, gross margin, and business strategies. SWOT analysis and Porter’s Five Forces Analysis are used to examine and assess the market and its players. It also covers recent mergers and acquisitions, joint ventures, collaborations, agreements, partnerships, and product launches and brand promotions.
Key companies profiled in the report include:
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.)
Market Segmentation by Types:
Products Outlook (Revenue in Million USD; 2017–2027)
- Bipolar Electrosurgery Instruments
- Monopolar Electrosurgery Instruments
- Consumables
- Accessories
Market Segmentation by Applications:
Applications Outlook (Revenue in Million USD; 2017–2027)
- General Surgery
- Dental Surgery
- Gynecological Surgery
- Urological Surgery
- Ophthalmic Surgery
- Orthopedic Surgery
- Other Applications
End Use Outlook (Revenue in Million USD; 2017–2027)
- Veterinary Hospitals
- Veterinary Clinics
- Others
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Regional analysis covers in-depth analysis of analysis of the revenue, market share, and growth rate of the global Veterinary Electrosurgery market in each region for the forecast period of 2021-2028. The report covers production and consumption rate, current and emerging trends, import/export, supply and demand, and presence of key players in each region.
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- Italy
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Rest of MEA
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Further key findings from the report suggest
- Symmetry Surgical in January 2020 acquired, the O.R. Company the company is involved in developing, manufacturing, and produces high quality of innovative surgical devices this acquisition would help Symmetry Surgical to expand its product portfolio in the minimally invasive surgical instrument. This acquisition would strengthen Symmetry Surgical to deliver cost-effective solutions for patient care, especially in gynecological and laparoscopic procedures.
- B. Braun Melsungen AG, in the year 2018, signed an agreement to acquire the bloodlines business of (NxStage). This acquisition was done to expand the B. Braun product portfolio in dialysis.
- Asia Pacific in the regional segment has obtained the highest CAGR of 9.5% in the forecast period due to the upsurge in the adoption of pets in the region and increase veterinary practices.
- North America has held the largest share of 35.1% in the year 2018 in the regional segment due to the increase in demand for Pet insurance in the region
- Medtronic, in February 2020, acquired Digital Surgery company. The company is based on surgical artificial intelligence; this acquisition was to strengthen Medtronic in a robotic-assisted surgery platform and to expand the company’s product portfolio.
- In the year 2016, Bovie renewed its Bovie 1250S-V, Specialist | PRO, 120-watt electrosurgical generator with the combination of Smoke Shark; it is a smoke evacuator. It provides a complete and precise energy system along with safe and effective smoke particle capture capabilities. Smoke Shark consists of four-stage filters to effectively capture the smoke and particle in the surgical site and offers 99.99 %efficiency.
- Medtronic in January 2020 announced the acquisition of Stimgenics, LLC, Stimgenics are involved in novel spinal cord stimulation (SCS) waveform known as Differential Target Multiplexed (DTM) Spinal Cord Stimulation. This acquisition was done to improve the Medtronics product portfolio in the treatment of chronic pain.
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