The veterinary electrosurgery industry is poised for significant growth, with revenue expected to soar from $85 million in 2023 to $120 million by 2028, at a remarkable CAGR of 7.3%, according to a recent report by MarketsandMarkets™. This surge in demand is attributed to several factors, including a growing global pet population, heightened awareness of preventive care, and the increased disposable incomes of pet owners.
Innovations in electrosurgical instruments and techniques, combined with a burgeoning understanding of their benefits in reducing post-operative pain and expediting recovery in animals, are propelling the industry’s expansion. Moreover, the development of portable and user-friendly electrosurgical devices tailored to veterinary practices is making these tools more accessible to a broader range of veterinary professionals.
Bipolar instruments leading the way
The veterinary electrosurgery market is categorized into monopolar instruments, bipolar instruments, and consumables & accessories. In 2022, bipolar instruments dominated the market, favored for their minimally invasive approach that causes less damage to surrounding tissue and results in shorter patient recovery times. This technique is ideal for various veterinary surgical procedures, including spaying, neutering, tumor removal, and wound repair.
General surgery segment on the rise
General surgery is expected to experience the highest growth rate during the forecast period. The demand for precise, minimally invasive surgical procedures in this field is driving this growth. Technological advancements, such as AI integration and enhanced safety features, are further boosting the efficiency and safety of electrosurgical procedures in general surgery.
Veterinary clinics take the lead
In terms of end-users, veterinary clinics are expected to claim the highest share of the veterinary electrosurgery market. The growing implementation of veterinary electrosurgery technology in pet clinics, combined with technological improvements, plays a significant role in this market segment’s dominance.
North America leads the way
North America is set to maintain its dominance in the veterinary electrosurgery market in 2028. This region benefits from an advanced healthcare system, high public and private healthcare spending, a growing companion animal population, and the significant presence of prominent industry players. Meanwhile, the Asia Pacific region is poised to experience the highest growth rate, driven by increasing R&D activities and substantial growth in the veterinary healthcare industry.
With the veterinary electrosurgery industry on an upward trajectory, fueled by technological advancements and a growing awareness of its benefits, the future looks promising for both veterinarians and the animals they care for.