Veterinary Electrosurgery Market Expected to Reach $866.3 Million by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Veterinary Electrosurgery Market," The Veterinary Electrosurgery Market size was valued at $463.60 million in 2021, and is estimated to reach $866.3 million by 2031, growing at a CAGR of 6.4% from 2022 to 2031.

Veterinary electrosurgery is a procedure of treating animals in which a high-frequency electrical current is applied during electrosurgery to the animal's body or tissue. Resistance occurs when an electrical current is sent through tissue. Localized heat is brought on by this resistance. These devices are used commonly as they allow faster and more efficient procedures and provide some unique capabilities for veterinarians. These capabilities include the ability to cut, coagulate, ablate, and dissect tissue with a single device, which can reduce operative times, blood loss, and time under anesthesia both intra- and post-operatively.

High-frequency energy is generated in the electrosurgical unit and runs electricity through the animal’s tissue. Depending on the frequency generated, the electrosurgical instrument can either coagulate the tissue or cut the tissue with precision. Depending on the waveforms produced, the electrosurgical unit can be used in bipolar electrosurgery for "wet field cautery" in which both active electrode and return electrode functions are performed at the surgery site, or monopolar electrosurgery, which requires the animal to be placed on a grounding plate to provide an electrical circuit.

The key factors that drive the Veterinary Electrosurgery Market growth are a rise in awareness regarding treatment options for animals, an increase in the number of adoptions of companion animals and a rise in the prevalence of animal-related disorders such as obesity, cardiovascular diseases, neurological diseases, osteoarthritis, and dental diseases in companion animals.

Moreover, the rise in demand for animal health insurance is the major factor that contributes to the growth of the market. For instance, according to a report published by Trupanion, approximately 800,000 pets were covered by the company's insurance in 2020, spanning important markets in the U.S., Canada, and Australia. The employment of veterinarians is projected to increase by 16% between 2019 and 2029. According to information provided by the American Veterinary Medical Association (AVMA), there were 126,138 veterinarians in the U.S. as of 2020, with an increase of more than 4% from 2017.

However, the high cost of medical devices and lack of skilled professionals hinders the growth of the market. Furthermore, the rapid increase in the number of pet adoptions, surge in healthcare facilities, and the rising economies of developing countries provide lucrative opportunities for the growth of the market.

The Veterinary Electrosurgery Industry is segmented on the basis of product, application, end-user, and region. By product, the market is segregated into bipolar electrosurgery instruments, monopolar electrosurgery instruments and consumables & accessories. By application, the market is classified into general surgery, gynecological & urological surgery, dental surgery, ophthalmic surgery, orthopedic surgery, and others. By end user, the market is divided into veterinary hospitals, veterinary clinics, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

On the basis of bipolar electrosurgery instruments, the market is further sub-segmented into bipolar electrosurgical pencils, bipolar laparoscopy instruments, bipolar forceps, and others. On the basis of monopolar electrosurgical instruments, it is further sub-segmented into monopolar electrosurgical pencils, monopolar laparoscopy instruments, monopolar forceps, and others.

In 2021, the bipolar electrosurgery segment accounted for the largest share of the market. The dominance of this segment can be attributed to the rise in the prevalence of skin cancer in animals & other related disorders. The upsurge in the adoption of companion animals increases the demand for bipolar electrosurgery instruments such as electrosurgery pencils, laparoscopy tools, and forceps.

On the basis of application, the market is segmented into general surgery, gynecological & urological surgery, dental surgery, ophthalmic surgery, orthopedic surgery, and others. The general surgery segment exhibited the highest growth in 2021 and is anticipated to lead during the forecast period, owing to an increase in demand for soft tissue surgical procedures, which is the key factor that is anticipated to drive the growth of the market during the forecast period.

By end user, the market is categorized into veterinary hospitals, veterinary clinics, and others. The veterinary hospital's segment exhibited the highest growth in 2021 and is anticipated to lead during the forecast period, owing to a rise in awareness among pet owners regarding animal healthcare and the increase in the number of veterinary hospitals visited by pet owners due to rise in the prevalence of skin cancer & various other diseases among companion animals.

North America accounted for a majority of the veterinary electrosurgery market share in 2021 and is anticipated to remain dominant during the forecast period owing to the growth in veterinary practices, rise in veterinary healthcare expenditure, availability of advanced electrosurgical instruments, increase in pet ownership, and upsurge in pet insurance coverage.

Asia-Pacific was the second largest contributor to the market in 2021, and is expected to register the fastest CAGR during the forecast period, owing to rise in prevalence of animal-related diseases and increase in the number of companion animal pet adoptions.

The key players that operate in the veterinary electrosurgery market are Avante animal health, B.Braun Vet Care GmbH, Burtons Medical Equipment Ltd., ByRL Medical India Pvt. Ltd., Deltronix Medical Device, Integra Lifesciences, Kwanaza Veterinary, Medtronic PLC, Olympus Corporation, Symmetry Surgical, KLS Martin, and Eickemeyer GmbH. Key findings of the study

• • By product, the bipolar electrosurgery instrument segment was the highest contributor to the market in 2021.
  • By application, the general surgery segment was the highest contributor in 2021.
  • By end user, the veterinary hospital dominated the market in 2021 and is expected to continue this trend during the forecast period.
  • By region, North America garnered the largest revenue share in 2021, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.