Veterinary arthroscopy is a minimally invasive surgical procedure used to diagnose and treat joint-related disorders in animals. Veterinary arthroscopy devices are specialized medical instruments used during the procedure to visualize and treat the joint. The global veterinary arthroscopy devices market is expected to witness significant growth during the forecast period due to the increasing incidence of joint-related disorders in animals, rising pet ownership, and the availability of advanced veterinary arthroscopy devices. This report provides a detailed analysis of the veterinary arthroscopy devices market including market size, growth rate, trends, drivers, and challenges.
Market Size and Growth Rate:
The global veterinary arthroscopy devices market is set to experience steady growth at 5.6% CAGR from 2021 to 2031, with a market value of around US$ 343.4 Mn as of 2021.
Veterinary arthroscopy device sales accounted for nearly 6.5% share of the global arthroscopic devices market in 2020. As per Persistence Market Research’s detailed analysis, in 2020, arthroscope and arthroscopic systems held a substantial share of over 43% in the global veterinary arthroscopy devices market.
Get Free Sample Copy of this Report@ https://www.persistencemarketresearch.com/samples/22909
Market Trends:
The veterinary arthroscopy devices market is witnessing several trends such as the development of specialized devices for specific animal species, increasing adoption of minimally invasive procedures, and the integration of artificial intelligence in veterinary arthroscopy devices. The demand for advanced veterinary arthroscopy devices is also increasing due to the rising demand for quality veterinary care.
Market Drivers:
The increasing incidence of joint-related disorders in animals is the major driver for the veterinary arthroscopy devices market. According to the American College of Veterinary Surgeons (ACVS), joint-related disorders are among the most common health issues in animals, with up to 25% of all dogs affected by osteoarthritis. The rising pet ownership and the increasing demand for quality veterinary care are also contributing to market growth.
Market Challenges:
The lack of skilled professionals and high costs associated with veterinary arthroscopy devices are the major challenges faced by the veterinary arthroscopy devices market. The limited availability of veterinary arthroscopy devices in emerging markets is also hindering the market growth.
Regional Analysis:
The veterinary arthroscopy devices market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America holds the largest share of the market due to the high prevalence of joint-related disorders in animals and the availability of advanced veterinary arthroscopy devices. Europe is the second-largest market due to the increasing pet ownership and the demand for quality veterinary care.
Competitive Landscape:
The veterinary arthroscopy devices market is highly fragmented with the presence of several key players. Some of the major players in the market are Karl Storz GmbH & Co. KG, Arthrex Inc., Olympus Corporation, B. Braun Melsungen AG, Richard Wolf GmbH, and others. These players are focusing on product innovation and development, strategic partnerships, and mergers and acquisitions to expand their market presence.
Conclusion:
The veterinary arthroscopy devices market is expected to witness significant growth during the forecast period due to the increasing incidence of joint-related disorders in animals, rising pet ownership, and the availability of advanced veterinary arthroscopy devices. The market is witnessing several trends such as the development of specialized devices for specific animal species and the integration of artificial intelligence in veterinary arthroscopy devices. However, the lack of skilled professionals and high costs associated with veterinary arthroscopy devices are the major challenges faced by the market.