Veterinary Electrosurgery Market: Introduction
- Veterinary electrosurgical devices are used for surgical cutting or controlling the bleeding by causing coagulation at the surgical site. Electrosurgery devices such as electrodes, probes, coagulators, and other devices use high-frequency alternating current to perform their respective functions.
- There are two type electrosurgeries: electrocautery and high frequency electrosurgery. Electrosurgery instruments are available in two forms: monopolar and bipolar.
Key Drivers and Restraints of Global Veterinary Electrosurgery Market
- Increase in pet ownership and growth of the pet industry are driving the global veterinary electrosurgery market during the forecast period. According to the National Pet Owners Survey conducted by the American Pet Products Association (APPA) in 2017, around 68% of households own a companion animal or a pet in the U.S.
- According to a report published by the Federal Trade Commission (FTC), the U.S. government spent around US$ 69.5 Bn in 2017 on the pet industry, which includes food, veterinary care, prescription and OTC medications, and other pet services and products
- Increase in the number of veterinary practitioners and rise in demand for pet insurance are likely to propel the growth of the global veterinary elctrosurgery market
- Pet care cost and lack of awareness about veterinary electrosurgery is restraining the veterinary elctrosurgery market
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Bipolar Electrosurgical Instruments Segment to Witness High Demand
- Based on product, the global veterinary electrosurgery market can be segmented into bipolar electrosurgery instruments, monopolar electrosurgery instruments, and consumables & accessories
- Bipolar electrosurgical instruments product segment accounted for the highest share of the global veterinary electrosurgery market in 2018. This segment is expected to remain dominant during the forecast period. This dominance of the segment can be ascribed to high adoption rate of these instruments in animal surgeries and price as compared to monopolar electrosurgical instruments.
General Surgery Segment to Witness Significant Growth
- In terms of application, the global veterinary electrosurgery market can be divided into general surgery, dental surgery, gynecological & urological surgery, ophthalmic surgery, orthopedic surgery, and other applications
- General surgery segment generated the highest revenue in 2018 and is anticipated to witness growth during the forecast period. This can be attributed to the increase in the number of general surgeries, such as sterilization procedures and soft-tissue surgeries, performed on animals.
Veterinary Hospitals Segment to Dominate Global Veterinary Electrosurgery Market
- Based on end-user, the global veterinary electrosurgery market can be categorized into veterinary hospitals, veterinary clinics, and others
- Veterinary hospitals end-user segment dominated the global veterinary electrosurgery market in 2018. The large share of this end-user segment can be attributed to the high adoption rate of veterinary elctrosurgical instruments in veterinary hospitals, increase in demand for these instruments in veterinary hospitals, and rise in the number of surgeries performed in veterinary hospitals.
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North America to Dominate Global Veterinary Electrosurgery Market
- In terms of region, the global veterinary electrosurgery market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America dominated the global veterinary electrosurgery market in 2018 and is expected to maintain its leading position during the forecast period. This dominance of the region can be attributed to the growing pet insurance industry and rising veterinary health care expenditure.
- Veterinary Elctrosurgery Market in Asia Pacific is projected to register the highest growth during the forecast period, owing to increasing adoption of pets and growing veterinary practices
Key Manufacturers Operating in Global Veterinary Electrosurgery Market
The global veterinary electrosurgery market was highly fragmented in 2018. Key manufacturers operating in the global market are:
- Symmetry Surgical Inc.
- Covetrus Inc.
- Medtronic plc
- DRE Veterinary
- B.Braun Melsungen AG
- Eickemeyer Veterinary Equipment Inc.
- Integra Lifesciences Corporation
- Summit Hill Laboratories
- Burtons Medical Equipment Ltd
Global Veterinary Electrosurgery Market: Research Scope
Global Veterinary Electrosurgery Market, by Product
- Bipolar Electrosurgery Instruments
- Monopolar Electrosurgery Instruments
- Consumables & Accessories
Global Veterinary Electrosurgery Market, by Application
- General Surgery
- Gynecological & Urological Surgery
- Dental Surgery
- Ophthalmic Surgery
- Orthopedic Surgery
Global Veterinary Electrosurgery Market, by End-user
- Veterinary Hospitals
- Veterinary Clinics
Global Veterinary Electrosurgery Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.