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This report explores the state of the current veterinary electrosurgery market and offers insight into what it will take to grow this market. This also explains that there are different species that require different doses of energy and some that may not even be amenable to surgery. The information provided in this report provides a brief overview of the current and future Veterinary Electrosurgery market.
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The global veterinary electrosurgery market is expected to reach $5.1 billion by 2020 from $2.5 billion in 2014 at a CAGR of 11.21% between 2014 and 2020. This is according to the latest published report by Transparency Market Research titled “Veterinary Electrosurgery Market – Size, Growth, Strategies.
The veterinary electrosurgery market is expected to grow from $2.5 billion in 2014 to $3.8 billion by 2020. Market growth can be attributed to increasing adoption of this technology and increased awareness from health to the benefits of electrosurgery for different procedures. This increase in demand is also due to a shift from invasive surgery to less invasive surgery techniques such as endoscopy and electroanesthesia.
Primary market segmentation
The global veterinary electrosurgery market is expected to grow at a CAGR of 13.6% during the period 2016-2020.
Currently, North America dominates the global electrosurgery market. However, Europe is the fastest growing region and Asia is expected to grow at a compound annual growth rate of 10% over the next six years. Strategies supported by surveyed veterinarians include building markets organically, integrating medical and surgical services, and exploring opportunities with other healthcare providers.
Veterinarians are increasingly turning to electrosurgery as a treatment option. As the number of procedures that can be performed with this technology increases, so does its adoption by veterinarians. This is due to its low cost and high efficiency in some cases.
The global veterinary electrosurgery market is expected to reach $2.1 billion by 2024, according to a new report from Grand View Research Inc., growing at a CAGR of 7.7% from 2019 to 2024.
Pricing and the value chain
Electrosurgery is a term that refers to the administration of an electric current to an animal for a surgical procedure (endoscopic or laparoscopic). It includes cauterization, electrode ablation and electrocoagulation.
The global veterinary electrosurgery market is expected to grow at a CAGR of 14.39% during the forecast period 2018-2022. There is a huge opportunity for manufacturers in this market as electrosurgery has become a favorable treatment option in veterinary clinics around the world. Vetmedica Inc., Microlin Optoelectronics GmbH and Hocoma AG are among the companies specializing in this market segment.
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Porter’s Value Chain Analysis
To understand the market, you need to understand how supply and demand work. Supply and demand work hand in hand to create a cascading effect that impacts prices in the market. To begin with, the first level of the value chain is that of the animal producers. Producers are responsible for determining a price at which they will sell their animal product, which creates an opportunity for intermediary actors to buy from the producer. These midstream players provide the primary services that make up this market, such as the slaughtering or processing of animals into raw meat and the extraction or measurement of blood taurine concentration for food manufacturers. This is important because it shows where each participant group fits into the value chain of that industry.
The global electrosurgery market size is expected to reach approximately $4.2 billion by 2024, with Western Europe dominating the revenue share owing to the high prevalence of veterinary practice and high-end nature of therapies involved.