Veterinary electrosurgery to pass $100M
by Katie Pfaff
The global market for veterinary electrosurgery was expected to grow to $112 million by 2027, according to a market report by MarketsandMarkets. The sector was valued at $77 million in 2022. Projected growth across the market would amount to a CAGR of 7.7%.
Growth is pinned on the higher degree of spending on animal health and increased utilization of veterinary care all due to the increased rate of pet adoption and ownership. This growth has filtered out to an increase in the demand for veterinary electrosurgical instruments.
When viewed by product segments, the market was divided into bipolar electrosurgery instruments, monopolar electrosurgery instruments, and consumables along with accessories. Within the segments, bipolar electrosurgery instruments were found to make up the greatest share of the 2021 market. The result was based in part on the low number of uses of monopolar electrosurgery devices as a treatment for damaged tissue.
Based on a segment for type of animal, the market was led by small animals in 2021 compared to large animals. The difference was based on the large number of companion animals and desire to spend on their health maintenance. In that same concept, the sector of end users was led by veterinary clinics as they typically manage the bulk of animal companion veterinary visits.
By region, North America led the market in 2021 as the demand for companion animal care was high in this area, and the amount of spending in companion animal health was also high, including enrolment in pet insurance coverage.
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