The Veterinary Arthroscopy Devices Market is slated to grow at a gracious rate of 5.6%, reaching US$ 593.8 Mn by the year 2031. With value-oriented approach being the need of the hour, the healthcare vertical is likely to go the technologically advanced way in the next 10 years. With Big Data, AI comprising these advancements, the healthcare vertical is bound to create greater strides going forward.
With current developments in instrumentation and technological procedures, arthroscopy is fast attaining recognition in joint surgery of animals. Arthroscopy is a typical method of carrying out most joint surgeries in humans and also in animals. The global veterinary arthroscopy devices market recorded value of US$ 324.7 Mn in 2020, and is predicted to expand at a CAGR of 5.6% over the forecast period of 2021-2031.
In the previous years, arthroscopy in small animals has been a swift development. Improvements over conventional arthrotomy consist of better-quality access to joint configuration, enlargement of lesions, therapeutic flushing, and quicker recovery of animals.
Arthroscopic surgeries have numerous advantages as compared to open surgery procedures, as these surgeries lean toward providing less postoperative discomfort and quicker recovery. Arthroscopy bids supreme imaging of the joints, permits for preceding intermediation and analysis, and can be used for diagnosis and treatment.
The field of non-invasive orthopedic surgeries is highly proliferating and countless innovative systems and tools are used for humans and animals. Furthermore, pet owners are progressively ardent on ensuring that the management and surgical procedure for their animals is achieved through the adoption of cutting-edge technological tools. Arthroscopy is swiftly achieving recognition amid veterinary surgeons for both, diagnosis and surgical procedures in animals, specifically in dogs undergoing joint soreness, chronic lameness, swelling, etc.
In the previous few decades, veterinary practices have witnessed quite a few important modifications as the number of surgeries performed on pets has been progressively rising, which, in turn, is projected to enhance the demand for veterinary arthroscopy devices.
Arthroscope and arthroscopic systems, which can be used for various diagnostic as well as surgical procedures, lead the veterinary arthroscopy devices market by capturing more than 43% share.
Small animals such as felines and canines are now increasingly undergoing arthroscopy procedures and these methods are more popular than the arthroscopy procedures on large animals; the segment holds more than half of the total market share.
Diagnostic procedures are more popular over therapeutic procedures owing to the effectiveness of providing concise resolution to the physician on the area of abnormality. The segment holds a market share of over 80%.
Veterinary hospitals are preferred more than veterinary clinics and specialty veterinary centers due to the limited number of skilled professional veterinary surgeons globally. However, growth of the veterinary clinics segment is expected to gain traction at a CAGR of 5.1%.
Nearly 50% of the global market share is accounted for by North America and Europe.
“Increased applications of veterinary arthroscopy devices for diagnostic purposes will propel market growth over the next few years,” says an analyst of Persistence Market Research.
Key manufacturers of veterinary arthroscopy devices are entering into partnerships for the marketing of their products, gaining approvals from regulatory authorities, and expanding their product portfolios.
In June 2019, KARL STORZ expanded its production sites in Tuttlingen and Neuhausen ob Eck for manufacturing endoscopes, instruments, and devices.
Key companies manufacturing veterinary arthroscopy devices are Arthrex, Inc., Karl Storz SE & Co. KG, Biovision Veterinary Endoscopy, LLC, Eickemeyer, vetOvation, KYON Veterinary Surgical Products, Trice Medical, GerVetUSA, Dr. Fritz Endoscopes, Depuy Synthes, Integra LifeSciences Corporation, IMEX Veterinary, Inc., ConMed Linvatec, and Novetech Surgery.
What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the veterinary arthroscopy devices market in its latest study, presenting historical demand assessment of 2016 – 2020 and projections for 2021 – 2031.
The research study is based on the product (arthroscope and arthroscopic systems, arthroscopy starter kits, arthroscopic handheld instruments consumables, and arthroscopy cleaning & sterilization trays), animal (large animals and small animals), procedure (diagnostic procedures and therapeutic procedures), and end user (veterinary hospitals, specialty veterinary centers, and veterinary clinics), across seven key regions of the world.
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