The global veterinary endoscopes market is expected to reach US$ 478.84 Mn in 2027 from US$ 268.82 Mn in 2018. The market is estimated to grow with a CAGR of 6.7% from 2019-2027.
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The key factors that are driving the growth of veterinary endoscopes market are increasing pet animal’s population, growing training programs for endoscopic diagnosis and rising incidences of zoonotic diseases over the forecasted years. Also, the growth opportunities in the developing nations are likely to have a positive impact on the growth of the market in the coming years.
Zoonotic diseases are an infectious disease which is transmitted to humans through vertebrate animals. The zoonotic diseases further three major types, such as endemic zoonoses, epidemic zoonoses, and emerging and re-emerging zoonoses. Among these types of emerging and re-emerging zoonoses are emerging and showing increasing incidences in various geographic areas.
For instance, according to the World Health Organization (WHO), it is stated that nearly 61% of the human pathogens are zoonotic. Diseases such as Rift Valley fever, SARS, pandemic influenza H1N1 2009, Yellow fever, Avian Influenza (H5N1), and (H7N9), West Nile virus are zoonotic. In addition, the Middle East respiratory syndrome coronavirus (MERS-CoV), which was increased rapidly in recent years, was caused by a zoonotic pathogen.
Moreover, according to the Centers for Disease Control and Prevention, it is stated that approximately ten thousand Americans are estimated to get affected by zoonotic diseases. The major source for transmission of diseases is animals consumed, such as goat meat, beef, pork, chicken, and others. According to the CDC, it is stated that six out of ten infectious diseases in people are zoonotic diseases. Thus, owing to the rising incidences and risk of the zoonotic diseases are likely to drive the growth of veterinary endoscopes during the forecast period.
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The veterinary endoscopes market is segmented on the basis of product type, application, procedures and end user. The market based on product type segment is classified as capsule endoscopes, flexible endoscopes and rigid endoscopes. On the basis application the market is segmented as diagnostic and surgical. Based on the procedure the market is classified as bronchoscopy, cystoscopy, gastrointestinal, laparoscopy, otoscopy, and other procedure types. And on the basis of end user the market is divided into veterinary clinic, veterinary hospitals and other end users.
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