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(Medical-NewsWire.com, May 14, 2019 ) According to research report the Veterinary Endoscopy Market is expected to reach USD 219.0 million by 2023 from USD 159.8 million in 2018, at a CAGR of 6.5%.
The increasing number of pet insurance, growing pet population, rising number of veterinary practitioners and advanced applications of veterinary endoscopes are some of the major factors driving the growth of this market.
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By product type, the flexible endoscopes segment is expected to account for the largest share of the market in 2018
On the basis of product type, this market is classified into rigid endoscopes, flexible endoscopes, and other endoscopes. In 2018, the rigid endoscopes segment is expected to account for the largest share of the veterinary endoscopy market. The large share can be attributed to the increasing requirement of the flexible endoscopes due to their innovative and advanced applications compared to rigid endoscopes.
The companion animals segment is estimated to lead the veterinary endoscopy market in 2018
By animal type, this market is classified into large animals, companion animals, and other animals. The companion animals segment is expected to account for the largest share of the veterinary endoscopy market in 2018. The large share can be attributed to the increasing awareness about animal health among pet owners and growing companion animal population worldwide.
By end user, the hospitals and academic institutes segment is expected to account for the largest share of the market in 2018
On the basis of end user, the veterinary endoscopy market is segmented into clinics; and hospitals and academic institutes. The hospitals and academic institutes segment is estimated to account for the largest share of the veterinary endoscopy market in 2018. The large share can be attributed to the increasing number of veterinary procedures performed in hospital-based settings across the world.
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North America is expected to lead the market in 2018
Based on region, the veterinary endoscopy market is segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America is expected to dominate the market in 2018. The large share can be attributed to the rising adoption of companion animals, increasing pet healthcare insurance, and improved veterinary healthcare infrastructure.
Key players in the veterinary endoscopy market include KARL STORZ (Germany), Olympus (Japan), Fujifilm (Japan), Eickemeyer (Germany), B. Braun (Germany), STERIS (UK), Endoscopy Support Services (US), Biovision Veterinary Endoscopy (US), Welch Allyn (US), and Dr. Fritz (Germany).
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