Veterinary Endoscopy Market Size, Share, Industry Trends and Forecast to 2030

Veterinary Endoscopy Market Size & CAGR in 2021

The global veterinary endoscopy market is expected to have a growth rate of 5.2% CAGR from 2021 to 2026. As a result, the market is anticipated to reach USD 328.5 million by 2026.

COVID-19 Impact on the Veterinary Endoscopy Market

The COVID-19 pandemic has significantly impacted the veterinary endoscopy market. The initial lockdowns and restrictions led to a decline in routine veterinary procedures, including endoscopic examinations. However, as the situation stabilized, the market started to recover, with increased awareness about the importance of veterinary care.

Veterinary Endoscopy Dynamics

The veterinary endoscopy market is driven by factors such as the increasing prevalence of pet diseases, advancements in endoscopic technology, and the growing adoption of minimally invasive procedures in veterinary medicine. Additionally, the rise in pet ownership and the expanding veterinary healthcare infrastructure are contributing to the market's growth.

Segments and Related Analysis

The veterinary endoscopy market can be segmented based on product type, application, animal type, and end-user. Product types include flexible endoscopes, rigid endoscopes, and others. Applications include diagnostic, therapeutic, and surgical endoscopy. Animal types include companion animals and livestock, while end-users consist of veterinary clinics, hospitals, and others.

By Region Analysis

The veterinary endoscopy market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America currently leads the market due to the high adoption of advanced veterinary technologies and a significant pet population. However, the Asia Pacific region is witnessing rapid growth due to the increasing awareness about veterinary care and the rising disposable income in emerging economies.

Key Market Players and Competitive Landscape

Key players in the veterinary endoscopy market include Karl Storz, Fujifilm Holdings Corporation, Olympus Corporation, STERIS plc, and Eickemeyer Veterinary Equipment, among others. These companies are focusing on product innovation, strategic partnerships, and mergers and acquisitions to gain a competitive edge in the market.

Recent Happenings in the Veterinary Endoscopy Market

- In 2021, Karl Storz launched a new line of veterinary endoscopes with advanced imaging capabilities, enhancing diagnostic accuracy in veterinary medicine.

- Fujifilm Holdings Corporation acquired a leading veterinary endoscopy equipment manufacturer, expanding its presence in the global veterinary market.

- Olympus Corporation introduced a range of minimally invasive endoscopic devices for veterinary surgical procedures, revolutionizing the field of veterinary medicine.

- STERIS plc partnered with veterinary clinics to provide training programs on the effective use of endoscopic equipment, improving patient outcomes in veterinary care.

- Eickemeyer Veterinary Equipment launched a comprehensive line of veterinary endoscopy accessories, catering to the diverse needs of veterinary professionals worldwide.