Veterinary Electrosurgery Devices Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032

Veterinary Electrosurgery Devices Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032

The Global Veterinary Electrosurgery Devices Market was valued at USD 471.6 million in 2023. Projections estimate a growth rate of 6.3% CAGR from 2024 to 2032, attributed to a surge in global pet ownership and an escalating demand for animal healthcare services.

As pet ownership rises, so does the demand for sophisticated veterinary services and surgical interventions. The People’s Dispensary for Sick Animals (PDSA) released its Animal Wellbeing (PAW) report in May 2023, highlighting that the UK had around 11 million dogs, 11 million cats, and 1.1 million rabbits as pets. Furthermore, the report noted that approximately 53% of UK adults are pet owners. This uptick will fuel the need for advanced medical tools and procedures, notably veterinary electrosurgery devices.

Pet insurance plays a pivotal role in covering veterinary costs, surgeries, and procedures. As pet health insurance gains traction, it will elevate surgical volumes, amplifying the demand for veterinary electrosurgery devices. For example, a report from the North American Pet Association in May 2023 highlighted that in 2022, insured dogs made up 87% of the total gross written premium in the U.S., a slight dip from 88.4% in 2021. This broadened access, especially to elective procedures like electrosurgery, will bolster the demand for veterinary electrosurgery devices, equipment, and services in the coming years.

The overall veterinary electrosurgery devices industry is classified based on animal type, product, modality, application, end-user, and region.

In 2023, the small animal segment led the market with a revenue of USD 298.1 million and is projected to maintain a 6.2% CAGR dominance through the forecast period. Electrosurgery finds extensive application in small animal procedures, spanning soft tissue surgeries, tumor removals, dental interventions, and wound management. As veterinarians increasingly appreciate the benefits and adaptability of electrosurgery, the demand for related devices is on the rise. Furthermore, the segment's growth is fueled by the global uptick in companion animal adoption, heightened focus on their healthcare, and a rising prevalence of conditions like cancer.

In 2023, electrosurgical units (ESUs) segment commanded a 37.1% share of the market. The ESUs' dominance stems from their adaptability, accuracy, and effectiveness across diverse surgical tasks. These units play a crucial role in cutting, coagulating, and drying tissues, equipping veterinarians with advanced tools for surgeries that ensure reduced blood loss and quicker recovery. Their prevalent use in soft tissue surgeries, tumor removals, and dental procedures—coupled with the growing trend of companion animal adoption and a rising demand for premium veterinary care—solidifies the ESUs' significant market share in the veterinary domain.

Germany showcased notable growth potential in Europe veterinary electrosurgery devices market, as it boasts a robust healthcare framework and cutting-edge technological advancements. The nation is renowned veterinary hospitals and research institutions, which frequently employ advanced electrosurgical tools. Germany's commitment to precision medicine and top-tier veterinary care further accelerates the embrace of modern electrosurgical technologies. The presence of leading veterinary device manufacturers and suppliers amplifies Germany's market influence. Moreover, the favorable regulatory environment ensures timely access to the latest electrosurgical innovations, meeting the rising demand for efficient and minimally invasive surgical methods in veterinary care.