The rising in the animal population, new product launches, and strategic collaboration
NEW YORK, NEW YORK, UNITED STATES, October 8, 2021 /EINPresswire.com/ — A new report titled Global Veterinary Electrosurgery Market research report has been recently published by Reports and Data that offers radically insightful information about the Veterinary Electrosurgery market with 2021 as the base year and a forecast period of 2027. The report offers key statistical data such as market value, market share, sales network and distribution channels, and revenue generation. The report further classifies the Veterinary Electrosurgery market into various segments and analyzes them on global and regional scale and offers details about the key factors that positively influence their revenue growth. The report also offers country-wise segmentation and growth analysis to offer a better understanding of the regional scope of the market.
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According to the current analysis of Reports and Data, The global Veterinary Electrosurgery Market was valued at USD 54.42 Million in 2019 and is expected to reach USD 104.71 million by the year 2027, at a CAGR of 8.4%.
Electrosurgery is a method of treatment where electric currents are used to cut, coagulate the tissues and control the bleeding with more convenience, especially in the hard-to-reach areas, the procedure is also conducted in animal surgery as it ensures increased precision and is a minimally invasive treatment. Electrosurgery is an effective treatment option for animals with tumors. The rise in the demand for Pet health insurance, especially in the developed countries, availability of skilled and experienced physicians for treatment, awareness among people for providing better medical facilities to the animal, and the accessibility to the animal care centers and hospitals are boosting the growth of the market. The rise in companion animal population and the rise in the disposable income among the people for their Pets is further promoting market growth. However, the high cost of expenditure for pet care and treatment and the lack of awareness among people for veterinary electrosurgery is the primary factors hindering the growth of the market.
The report is formulated through exhaustive primary and secondary research which is verified and validated by industry experts, research analysts, and professionals. The report aims to help readers and users improve their business performances by providing insightful data about business sphere such as recent technological development, product advancements, and adoption of strategic business steps. The report also offers extensive analysis of the competitive landscape along with business overviews, expansion plans, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, product and brand promotions, government and corporate deals, and partnerships among others.
Top Companies in the Market Include:
Symmetry Surgical Inc. (U.S.), Covetrus Inc. (U.S.), DRE Veterinary (U.S.), B. Braun Melsungen AG (Germany), Medtronic (Ireland), Eickmeyer (U.S.), Summit Hill Laboratories (U.S.), Kwanza Veterinary (India), Burtons Medical Equipment Ltd. (U.K.), Integra Lifesciences Corporation (U.S.), LED SpA, and Keebovet Veterinary (U.S.) are the key players in the Veterinary Electrosurgery Market.
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Covid-19 Impact on the market:
The recent outbreak of COVID-19 disease caused by a novel strain of coronavirus has created certain unique upheavals in the veterinary market. According to the surveys and interviews which we conduct regularly, many manufacturers are pointing out a muted demand for products in the coming months, on account of the global economy stalling and massive disruptions in the supply chain. Due to the impending lockdown in many countries, pet and livestock owners are expected to take their animals to veterinarians for getting treated. However, the recent case of a tiger at Bronx Zoo in New York City testing positive for COVID-19 (reported by New York Times on 6th April 2021) is changing our understanding of this disease. COVID-19 could also be transmitted from humans to animals, as was evidenced by this case where the tiger was infected by a zookeeper. Now whether the symptoms are likely to develop in an aggravated manner, more than in humans is yet to emerge. Also, if this trend continues, surgeries might be required due to which demand for electrosurgery equipment might increase. Also, the lockdown has created a huge shortage of equipment because of supply chain disruptions due to which the electrosurgery market might see a negative impact in the short run. While China is slowly bringing facilities back online, the focus is shifting from an issue of supply (production) to demand as the broader, structural impact of the coronavirus outbreak widens. The key markets which are expected to face sales tanking include Greater China, Europe and North America, although virtually every territory faces the prospect of some degree of demand distortion in the coming months.
Increasing focus on development of vaccines to combat COVID-19 pandemic and focus on preventive medicine to mitigate future epidemics and pandemics, rising number of product approvals for drugs and therapeutics, and rapid digital transformation in the pharmaceutical and healthcare industry are some key factors expected to drive revenue growth over the forecast period. With the social distancing norms in place and growing focus on telemedicine, digital technologies were adopted at an accelerated rate allowing healthcare professionals to efficiently manage health of the patients. One of the most crucial drivers of the pharma & healthcare industry is the rapid integration of artificial intelligence in key areas such as R&D, patient care, commercialization, and drug discovery and development. It has also led to a reduction in healthcare expenditure and improved efficiency of the systems which is expected to further contribute to revenue growth of the market going ahead.
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Furthermore, to offer a better understanding of the competitive landscape, an extensive SWOT analysis and Porter’s Five Forces analysis are included in the report. Along with this, feasibility analysis and investment return analysis are also covered. The report is segmented on the basis of product types offered in the market, application spectrum, and key regions of the Veterinary Electrosurgery market.
Products Outlook (Revenue in Million USD; 2017–2027)
• Bipolar Electrosurgery Instruments
• Monopolar Electrosurgery Instruments
Applications Outlook (Revenue in Million USD; 2017–2027)
• General Surgery
• Dental Surgery
• Gynecological Surgery
• Urological Surgery
• Ophthalmic Surgery
• Orthopedic Surgery
• Other Applications
End Use Outlook (Revenue in Million USD; 2017–2027)
• Veterinary Hospitals
• Veterinary Clinics
Key Regions Studied in the Report:
• North America (U.S., Canada, Mexico)
• Europe (U.K., Italy, Germany, France, Rest of Europe)
• Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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