The market for veterinary lasers was estimated to be worth USD 88.91 billion in 2022 and is anticipated to reach USD 160.82 billion by 2030, with a CAGR of around 7.72% between 2023 and 2030.
The report analyzes the global veterinary lasers market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the veterinary lasers market.
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Veterinary Lasers Market: Overview
The production and distribution of lasers intended specifically for veterinary applications is the focus of the smaller veterinary lasers market, which is a subsegment of the larger medical lasers market. Using particular light wavelengths, these devices are used to treat various medical conditions in animals.
Simple dermatological issues to complicated surgical procedures may be present. In recent years, as the veterinary sector has grown, so has the demand for corresponding lasers, as pet owners have become more knowledgeable and have demonstrated a higher level of awareness regarding various veterinarian-related medical conditions. Due to the industry’s participants’ continued supply of laser mechanisms, the community is predicted to experience a high CAGR during the projection period.
Key Findings:
• According to the data provided by our research analyst, the global market for veterinary lasers is anticipated to expand at a CAGR of roughly 7.72% from 2023 to 2030.
• The market for veterinary lasers was estimated to be worth USD 88.91 billion in 2022 and is anticipated to grow to USD 160.82 billion by 2030.
• The market for veterinary lasers is anticipated to expand significantly over the coming years as a result of the rising demand for non-invasive medical procedures.
Increasing demand for minimally invasive procedures will drive market demand
The growing need for minimally invasive or non-invasive medical procedures to cure ailments in animals is expected to fuel the growth of the global market for veterinary lasers. Plans for treating patients utilising veterinary lasers do not call for the use of traditional surgical tools, which are known to inflict pain or discomfort on animals. These devices are often driven by laser beams that focus on a specific area that has to be treated.
By using lasers, the healthy tissue surrounding the area that needs to be treated is protected from any harm. Due to the fact that medical procedures carried out with light equipment are known to have reduced pain, offer quicker recovery times, and leave little to no scarring, pet owners are becoming more interested in veterinary lasers. Additionally, compared to their counterparts, veterinary lasers have fewer side effects associated with their use.
High related costs to impede market expansion
Due to the high cost of associated treatment plans and the price of veterinary lasers themselves, many pet owners and animal welfare organisations cannot afford to use them. During the forecast period, this is anticipated to restrain the growth of the worldwide veterinary laser market. Additionally, the fraternity experiences inconsistent treatment and subsequent results due to a lack of standardisation in veterinary laser applications. The effectiveness of laser therapy remains questionable under these circumstances.
Growing demand for pet care services may provide several growth opportunities
As the number of pet owners across the world is on the rise along with surging activities undertaken by global animal welfare agencies further supported by favorable government regulations, the demand for quality and advanced pet care services has risen multifold in the last decade. Pet owners and animal care units are becoming increasingly ready to tackle medical expenses linked with pet care. In addition to this, they also tend to receive government support leading to more demand and an increase in the global veterinary lasers market size.
Lack of skilled professionals to hamper market growth
The shortage of skilled workers with the necessary experience to effectively use the sophisticated laser systems is one of the issues the global market is predicted to face during the forecast period. Additionally, a few of nations lack the infrastructure required to train new specialists and are wary of investing in the construction of extremely sophisticated animal care facilities. The increased competition from alternative medicines is an added hurdle that the veterinary lasers market operators are currently confronting.
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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
Recently Occurring Events :
• The Horizon Veterinary Laser System will go on sale in October 2020, according to a well-known company in the sector called Summus Laser. It is a class 4 laser system that was created especially for use in the veterinary field. The system runs on 28 watts of electricity and works on a combination of 4 wavelengths making it one of the most advanced lasers available in the market
• Digatherm Thermal Imaging and Multi Radiance Veterinary (MRV) announced their partnership in January 2023 after the former was able to secure the distributorship rights for Digatherm’s ground-breaking thermography products, particularly the infrared cameras.
• Eltech K-LASER and INDIBA, a well-known supplier of radiofrequency health solutions, established a cooperation in November 2020 with a focus on the US and Canadian markets.
The global veterinary lasers market is projected to be driven with the aid of players like:
● 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
North America to continue its supremacy during the predicted period
The global veterinary lasers market is expected to grow the fastest in North America, with the United States accounting for the largest share of the regional market. Factors such as rising pet adoption rates, a competent labour force, and a robust medical infrastructure including veterinary care centres, as well as increased availability of animal welfare organisations and individual pet owners to spend on animal medical care.
Furthermore, increased collaboration among market players to improve product and service reach, as well as increased investments in research and development to drive technical breakthroughs, are likely to benefit the regional industry. Europe is expected to generate large revenue as a result of a strong emphasis on animal care, higher animal adoption rates, and favourable medical legislation.
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