Veterinary Electrosurgery Market Size, Share & Trends Analysis Report By Product (Bipolar Electrosurgery Instruments, Monopolar Electrosurgery Instruments, Consumables, Accessories), By Application (General Surgery, Dental Surgery, Gynecological Surgery, Urological Surgery, Ophthalmic Surgery, Orthopedic Surgery, Others), By End-User (Veterinary Hospitals, Veterinary Clinics, Others) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2024-2032

Market Overview

The global veterinary electrosurgery market size was valued at USD 83.50 million in 2023 and is expected to reach USD 160.09 million by 2032, growing at a CAGR of 7.50% during the forecast year 2024-2032. Factors such as Increasing Number of Veterinary Practitioners and Animal Health Insurance, significantly drives the veterinary electrosurgery market demand by 2032.

Electrosurgery is a type of treatment involving electric current to cut, coagulate the tissues and manage the bleeding as it offers more simplicity in the treatment, particularly in hard-to-reach areas; it is also used in animal surgery as it provides improved precision and involves minimal incision to perform the procedure. Product from the veterinary electrosurgery market provides an effective treatment option for animals with tumors.

The market has seen significant growth that is fueled by the increase in the demand for pet health insurance in developed economies. The rise in awareness pertaining to various animal health issues and conditions that are faced among companion and livestock animal owners is one of the crucial factors leading to Global veterinary electrosurgery market growth. 

Market Dynamics

Increasing number of veterinary practitioners and animal health insurance

The growth of the market for veterinary electrosurgical instruments is primarily driven by growth in the number of veterinary practitioners in developing economies as well as growth in the population of accompanying animals. With more volume veterinary doctors and staff that are present, more surgical procedures are happening as well as new infrastructures are set, leading to market growth. The increasing demands for pet insurance by owners of companion animals further boost the veterinary electrosurgery market growth. According to a report published by the North American Pet Health Insurance Association (NAPHIA), more than 2.5 million pets in the U.S. and Canada were under an insurance plan as of 2018.

Affordability of owning a pet is driving the pet industry

In light of the rise in the socioeconomic status of people, the affordability of pets and pet ownership rates have skyrocketed. For the record, according to the National Pet Owners Survey conducted by the American Pet Products Association (APPA), in the U.S., around 68% of households own a companion animal or a pet. Therefore, with more people adopting pets, there has been a rising demand in the global market for pet healthcare, veterinary services, pet health insurance, and other associated services. This has also driven the global market for Veterinary Electrosurgery attributed to more demand, higher investments, and government initiatives supported by many NGOs. For instance, according to a report published by the Federal Trade Commission (FTC), the U.S. has spent around USD 69.5 Bn in 2017 on the pet industry, which includes domains of food, veterinary care, surgical treatments, prescription and OTC medications, and other pet services and products.

Regional Analysis

The regional analysis has been made considering the trends of the veterinary electrosurgery market, in the regions of North America, Europe, Asia Pacific, South America, Middle East, and Africa.

North america’s growing pet insurance industry

During the research period, North America is foreseen to hold the largest share of the veterinary electrosurgery market on account of the increasing adoption of companion animals due to rising standard of living, growing pet insurance industry, rising veterinary healthcare expenditure, and the growing number of veterinary practices. For instance, according to a report by the Humane Society of the United States, around 60.2 million U.S. households had at least one dog as of 2018. Thus, owing to the presence of a huge market, many key players have invested to improve their product portfolio and ensure high-quality standards for their products to cope with the regional competition. Thus, such investments and business strategies improvised by companies to gain penetration in such lucrative markets are expected to boost the demand for veterinary surgical instruments in the region further. For instance, in August 2018, U.S. based company, Symmetry Surgical Inc. acquired Bovie Medical in order to improve its portfolio of veterinary electrosurgical instruments.

Further, the increase in activities of local and global organizations is expected to boost the market even further during the forecast period. For example, the World Health Organization (WHO) is engaging in various activities to address health threats at the human-animal-ecosystem interface, including treatments, setting up veterinary facilities, pet vaccinations, and others. This is expected to drive the need for better treatment facilities equipped with veterinary surgical instruments for companion animals.

Asia-pacific’s awareness toward animal welfare

Significant factors such as increasing consumption of meat and dairy products, the growing population of livestock animals as well as companion animals, and rising per capita income in these countries leading to higher adoption of pets are supporting the growth of the veterinary electrosurgery instruments market. Also, the increasing number of cases of chronic disorders in animals over the last few years is fueling the demand as people continuously seek surgical intervention as treatment.

In addition, pet humanization and increased awareness of animal welfare among the people are expected to fuel the Asia-Pacific market during the forecast period. For instance, Japan can be is anticipated to hold a significant share of the regional market. This is due to the rapid adoption of new techniques such as advanced diagnostic services and the increasing geriatric pet population that need these products and services from the veterinary electrosurgery market. As a result, numerous dogs and cats are living a long and healthy life taking to a mean age of 12 to 13 years in Japan.

Segmental Analysis

Consumables and accessories segment to register the highest growth during the forecast period

Based on the product segment, the bipolar electrosurgery instruments hold the biggest share in the global market within the segment. The technique has certain scientific advantages as compared to other available electrosurgical instruments as it offers better control in targeting the tissue, it also prevents tissue damage, and also controls burns associated with other instruments of electrosurgery.

However, the consumables and accessories segments are expected to grow rapidly and hold a significant volume of shares in the veterinary electrosurgical instruments market during the forecast period. This can be attributed to the increasing demand for monopolar and bipolar electrosurgical instruments that are essential in different applications. For instance, soft-tissue surgeries, treating tumors through surgical means, and other problems that develop in animals with minimum damage. The segments of consumables and accessories that include blades, instruments, medications, surgical PPE will be driven by the requirements and demand of the aforementioned surgical requisites.

Veterinary hospitals segment to dominate the global veterinary electrosurgery market

Based on end-user, the global veterinary electrosurgery market can be categorized into veterinary hospitals, veterinary clinics, and others. By end-user, the veterinary hospital segment dominates the global market for veterinary electrosurgery and is expected to continue the same trend during the forecast period. The large share of this end-user segment can be attributed to the high adoption rate of veterinary electrosurgical instruments in veterinary hospitals and the rise in the number of surgeries performed in veterinary hospitals. This is due to the fact that among the components in the segment, electrosurgery is widely conducted in veterinary hospitals due to the availability of better healthcare infrastructure, the presence of a greater number of qualified personnel, and better treatment facilities as compared with veterinary clinics. The higher adoption in veterinary hospitals of veterinary electrosurgical instruments can also be attributed to the higher purchasing capital available and the higher volume of surgeries performed in these hospitals. An increase in demand for these instruments in veterinary hospitals has generated high revenues and thus has contributed significantly to the market growth.

Recent Developments

• In 2019, B. Braun Melsungen AG took over the operations of Nephtec GmbH. This acquisition strengthened the company’s product portfolio in the area of the central preparation of dialysis concentrates.