Market Trends of Global Veterinary Endoscopy Industry
This section covers the major market trends shaping the Veterinary Endoscopy Market according to our research experts:
Flexible Endoscopes is Expected to Witness Significant Growth Over the Forecast Period
Flexible endoscopes are mostly used for upper gastrointestinal (GI) endoscopy, colonoscopy, bronchoscopy, rhinoscopy, and tracheoscopy. These endoscopes can be manually rotated in various directions to allow for better access and maneuverability, which makes it easy to view the inside of the stomach and the bowel.
Esophagogastroduodenoscopy (EGD) and colonoscopies are performed primarily with a flexible endoscope instead of a rigid endoscope. The most common flexible endoscopic procedures performed both in specialty and general practices are upper and lower GI endoscopy for direct examination and biopsy of selected areas of the GI tract. When the endoscopic image is displayed on a video monitor, the endoscopist can work more comfortably and share information during a procedure.
The early diagnoses of gastrointestinal disorders in companion animals are beneficial, owing to the increasing number of animals with varied symptom patterns that require a biopsy of the GI tract in identifying the underlying condition. A standard endoscope for upper and lower GI endoscopy used in dogs and cats should comprise at least 100cm of length and possess a distal tip with almost a 180-degree upward deflection, along with features such as water flushing, air insufflation, and suction capabilities.
The studied market is expected to witness significant growth over the forecast period due to the factors mentioned above.
North America is Expected to Hold a Significant Market Share Over the Forecast Period
The major factors driving the veterinary endoscopy market's growth include an increase in the adoption of companion animals, the increasing prevalence of diseases such as zoonosis, the availability of advanced veterinary healthcare infrastructure available in the region, and the presence of key market players, leading to developments in veterinary endoscopes. According to the 2021-2022 National Pet Owners Survey conducted by the American Pet Products Association (APPA), around 70% of United States households own a pet, which equates to 90.5 million homes, including 45.3 million cats and 69 million dogs. The same source also reports that the annual expenditure on routine visits for dogs accounts for USD 242 million, whereas it is 178 million for cats in the country. With increased ownership of pets and livestock, United States citizens have also become more considerate toward the health of these animals. According to the American Pet Products Association, the expenditure on pets in the United States is also rising, which may propel the market growth.
Moreover, the growing animal healthcare spending in the United States is expected to propel the growth of the market. For instance. according to the American Pet Product Association Updated in 2022, the United States spent USD 123.6 billion on pets in 2021. Hence, the studied market is expected to witness significant growth due to rising pet adoption and animal spending in North America over the forecast period due to the aforementioned factors.
