Global Veterinary Lasers Market Segmentation, By Type (Portable, Bench-Top, Compact), Product (Surgical Laser, Therapeutic Laser), Application (Soft Tissue Surgery, Pain Therapy), Laser Type (Class 2, Class 3, Class 4), End Users (Veterinary Clinics, Veterinary Hospitals, Others) – Industry Trends and Forecast to 2031.
Veterinary Lasers Market Analysis
Over the years, the huge increase in the percentage of pet owners and increased spending on pets by owners have been crucial factors driving demand for veterinary lasers. Consequently, the presence of various growth determinants has projected to show substantial growth over the forecasted period.
Veterinary Lasers Market Size
Global veterinary lasers market size was valued at USD 211.22 million in 2023 and is projected to reach USD 466.11 million by 2031, with a CAGR of 10.4% during the forecast period of 2024 to 2031.
Report Scope and Market Segmentation
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Attributes
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Veterinary Lasers Key Market Insights
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Segmentation
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Countries Covered
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U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East and Africa
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Key Market Players
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CELasers (U.S.), Aesculight (U.S.), Respond Systems (U.S.), Pivotal Health Solutions (U.S.), Laserex (South Africa), ERCHONIA CORPORATION (U.S.), BIOLASE, Inc. (U.S.), VBS Direct Limited (U.K), SpectraVET (U.S.), Aspen Laser Systems, LLC (Utah), Siemens (Germany), FUJIFILM Holdings Corporation (Japan), Wuhan Dimed Laser Technology Co., Ltd (China), DMC U.S.A. (U.S.), Excel Lasers (U.K), Bluecore (U.S.), EICKEMEYER (Germany) and K-LASER USA, (U.S.),
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Market Opportunities
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Veterinary Lasers Market Definition
Veterinary lasers are basically used to decrease pain, inflammation, soreness, and injuries for medicinal and clinical applications. These lasers are also utilized for treating osteoarthritis, pain management and even bone repair. One of the major reason driving demand for veterinary lasers is the rising frequency of severe chronic disorders in animals. Furthermore, advances in veterinary hospitals and clinics greatly impact the overall market picture.
Veterinary lasers Market Dynamics
This section deals with understanding the market drivers, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Increased Pet Ownership To Boost The Growth Of Market
The surging pet ownership across the globe is the most significant factor driving the growth for this market. In addition to this, growing numbers of pet owners and rising spending on pets are also expected to accelerate the market's overall growth.
- Advantages of Surgeries to Increase the Adoption
Furthermore, the advantages of the surgeries with veterinary lasers, such as reducing the recovery time and risks associated with surgery, which further leads to increased adoption of the veterinary lasers, are also expected to fuel market growth.
Moreover, the non-invasive and secure option of surgeries and increasing number of healthcare facilities also cushions the market's growth within the forecasted period. The surging awareness about pet care and development of the veterinary lasers and the growing awareness about the availability of the surgeries and therapeutics are also projected to bolster the market's growth.
Opportunities
- Increased Advancements and Partnership
Moreover, the advances in veterinary hospitals and clinics along with the expanded government and private partnerships for providing customized care to pets are estimated to generate lucrative opportunities for the market. The improving the implementation of pet insurance and favorable reimbursement policies, which will further offer numerous growth opportunities for the market.
Restraints/Challenges
- High Costs Associated with Surgery and Lasers
The overall cost of the surgery and the veterinary lasers is very high, which is expected to obstruct market growth.
Also, the shortage of skilled professionals and the unavailability of reimbursement policies are projected to challenge the veterinary lasers market.
This veterinary lasers market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the veterinary lasers market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Post COVID-19 Impact on Veterinary Lasers Market
The veterinary lasers market was critically impacted by the outbreak of COVID-19. The negative growth was attributed due to the imposition of the lockdown and social distancing restrictions. The restrictions led to emergence of challenges for the market such as, irregularities in supply of raw materials, halt of various operations, supply chain disruptions, stifling business growth, technology event cancellations, suspensions of new developments and has affected the overall production and sales, limiting the industry's expansion. Furthermore, consumer demand has decreased as people are now more focused on removing non-essential expenses from their budgets since the general economic situation of most people has been badly impacted by the outbreak. These aforementioned factors are likely to weigh on the veterinary lasers market's revenue trajectory.
On the brighter side, the market is predicted to revive as respective governing bodies begin to lift these enforced lockdowns, and the market will recover the same pace of growth post COVID.
Veterinary Lasers Market Scope
The veterinary lasers market is segmented on the basis of type, product, application and end users. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Portable
- Bench-Top
- Compact
Product
- Surgical Laser
- Therapeutic Laser
Application
- Soft Tissue Surgery
- Pain Therapy
Laser Type
- Class 2
- Class 3
- Class 4
End Users
- Veterinary Clinics
- Veterinary Hospitals
- Others
Veterinary Lasers Market Regional Analysis
The veterinary lasers market is analyzed and market size insights and trends are provided by country, type, product, application and end users as referenced above.
The countries covered in the veterinary lasers market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the veterinary lasers market because of the high demand for better healthcare facilities along with the major revenue share by top companies operating within the region.
Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the product developments, increasing number of local manufacturers and the rise in the adoption of the treatment methods that are non-invasive within the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Veterinary Lasers Market Share
The veterinary lasers market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to veterinary lasers market.
Veterinary Lasers Market Leaders Operating in the Market Are:
- CELasers (U.S.)
- Aesculight (U.S.)
- Respond Systems (U.S.)
- Pivotal Health Solutions (U.S.)
- Laserex (South Africa)
- ERCHONIA CORPORATION (U.S.)
- BIOLASE, Inc. (U.S.)
- VBS Direct Limited (U.K)
- SpectraVET (U.S.)
- Aspen Laser Systems, LLC (Utah)
- Siemens (Germany)
- FUJIFILM Holdings Corporation (Japan)
- Wuhan Dimed Laser Technology Co., Ltd (China)
- DMC U.S.A. (U.S.)
- Excel Lasers (U.K)
- Bluecore (U.S.)
- EICKEMEYER (Germany)
- K-LASER USA, (U.S.)
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