#veterinaryendoscopes

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Veterinary Endoscopes Market: Helping pets get a better life

The outlook for the veterinary endoscopes market is quite strong, thanks to the increasing numbers of pets, enhanced spending on animal health, and betterment in veterinary healthcare. This technology deals with minimally invasive diagnostic and treatment purposes; therefore, veterinarians cannot do without this tool.

The large population of pets and the presence of a well-developed healthcare infrastructure make the US a potential market for veterinary endoscopes. According to APPA, the number of pets owned in the US has risen constantly, thus driving the demand for advanced services related to pets. This has been coupled with increased disposable incomes that drive spending on pet healthcare.

Market Size and Growth

The US veterinary endoscopes market is projected to reach US$ 0.63 billion by 2031, at a CAGR of 6.7% during the forecast period of 2023-2031. This growth is attributed to an increased incidence of chronic diseases in pets, the growing adoption of endoscopic procedures for early disease detection, and the development of more technologically superior endoscopes.

Key Market Drivers

Various factors are boosting growth in the US veterinary endoscopes market. Key among these include:

Rise in Pet Ownership: An increasing number of pet owners within the US region presents the primary driving force. As pet owners become more invested in the welfare of their animals, they are willing to spend on advanced diagnostic tools like endoscopes.

Increasing Cases of Diseases in Companion Animals: Kidney, diabetes, and gastrointestinal diseases are becoming increasingly prevalent in companion animals. As a result, endoscopy, as a diagnostic modality for the diagnosis and management of related diseases, is also going to become more significant

Improving Technology in Endoscopy: Development in high-definition cameras, flexible endoscopes, and advanced imaging software used in conducting an endoscopy is further enhancing the potential of diagnosis and hence, augmenting the market.

Rising Awareness of Preventive Healthcare: Increasing awareness among pet owners about preventive healthcare may help to boost the market. Regular checkups and the possibility of early detection of diseases by endoscopy are going to add to the growth.

Market Segmentation

The US veterinary endoscopes market can be segmented based on the following criteria: by product type - rigid endoscopes, flexible endoscopes, by application – digestive system, respiratory system, urology, gynecology, by end-user – veterinary clinics, animal hospitals, and research institutes.

Future Outlook

The outlook for the US veterinary endoscopes market seems to be optimistic, with a continuing rising trend in the foreseeable future. The rise in the percentage of the geriatric pet population, growth in adoption of minimally invasive procedures, and improving technology are some major factors driving the market expansion. Besides, increasing penetration of endoscopic procedures in rural areas offers vast growth opportunities.

Knowing the market dynamics, trends, and competitive landscape, industry participants can capture tremendous growth opportunities in the US veterinary endoscopes market.

Author Bio -

Akshay Thakur

Senior Market Research Expert at The Insight Partners

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