The global veterinary lasers market size was worth around USD 88.91 Billion in 2022 and is predicted to grow to around USD 160.82 Billion by 2030 with a compound annual growth rate (CAGR) of roughly 7.72% between 2023 and 2030.
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➤ The market demand is being driven by the increasing demand for non-invasive techniques.
The global veterinary lasers market is expected to expand as a result of the growing demand for minimally or non-invasive medical techniques to treat animal-related medical conditions. The utilization of veterinary lasers in treatment plans eliminates the necessity for conventional surgical instruments, which are notorious for inducing pain or distress in animals. The laser beam is directed toward a specific area that necessitates treatment, and these devices are typically powered by light wavelengths.
➤ The market growth is restricted by the high associated cost.
The cost of veterinary lasers and the associated treatment regimens is exorbitant, rendering them unaffordable for a significant portion of pet owners or animal welfare agencies. This is anticipated to restrict the expansion of the global veterinary laser industry during the forecast period. In addition, the fraternity is plagued by a lack of standardization in the application of veterinary lasers, which results in inconsistencies in treatment and subsequent outcomes. Under these circumstances, the efficacy of laser therapy is still uncertain.
➤ The increasing demand for pet care services is expected to generate numerous growth opportunities.
In the past decade, the demand for quality and advanced pet care services has increased significantly due to the increasing number of pet owners worldwide, as well as the escalating activities of global animal welfare organizations, which are further bolstered by favorable government regulations. Pet caretakers and animal care units are increasingly prepared to manage the medical expenses that are associated with pet care. In addition, they are more likely to receive government support, which results in an increase in demand and a larger global veterinary lasers market.
➤ Deficiency of proficient professionals to impede market expansion
The global market is expected to encounter a number of challenges during the forecast period, one of which is the scarcity of qualified professionals who possess the necessary experience to operate advanced laser systems effectively. Furthermore, the infrastructure required for the training of new professionals is lacking in several countries, and there are concerns regarding the investment in the construction of state-of-the-art animal care centers. Veterinary lasers industry participants are currently confronted with an additional obstacle: the increasing competition from alternative therapies.
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The Global Veterinary Lasers Market is segmented based on product, application and region
Global Veterinary Lasers Market: Product Segment Analysis
● Surgical Lasers
● Therapeutic Lasers
Global Veterinary Lasers Market: Application Segment Analysis
● Regenerative & Tissue Repair
● Pain & Inflammation Management
● Others
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The global Veterinary Lasers market profiles key players such as:
● Aesculight LLC
● Laserex Technologies Pty Ltd.
● Biolase Inc.
● Summus Medical Laser
● Cutting Edge Laser Technologies
● LightScalpel LLC
● VetLaser
● Erchonia Corporation
● MedArt A/S
● K-Laser USA
● Sciton Inc.
● MARS Bio-Med Processes Inc.
● LiteCure LLC
● Wuhan HNC Technology Co. Ltd.
● Multi Radiance Medical
???? Recent Developments:
• The Horizon Veterinary Laser System was introduced by Summus Laser, a prominent participant in the industry, in October 2020. It is a class 4 laser system that is specifically engineered for use in the veterinary sector. The laser system is one of the most advanced on the market, operating on a combination of four wavelengths and consuming 28 watts of power.
• Multi Radiance Veterinary (MRV) declared its partnership with Digatherm Thermal Imaging in January 2023. The former successfully acquired the distributorship rights for Digatherm’s innovative thermography products, particularly the infrared cameras.
➤ North America is expected to maintain its position as the dominant region throughout the forecast period.
North America is anticipated to experience the most significant growth in the global veterinary lasers market, with the United States occupying the largest share of the regional market. The availability of a competent labor force, a robust medical infrastructure, including veterinary care centers, and a higher availability of animal welfare agencies and individual pet owners to spend on animal medical care are all contributing factors. Additionally, the rate of pet adoption is on the rise.
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