NEW YORK, United States, April 25, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Veterinary Lasers Market By Application (Regenerative & Tissue Repair, Pain & Inflammation Management, And Others), By Animal Type (Cats, Dogs, And Others), By Class Type (Class 4, Class 3, And Class 2), By Product (Surgical Lasers And Therapeutic Lasers), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.
“According to the latest research study, the demand of global veterinary lasers market size & share in terms of revenue was valued at USD 88.91 billion in 2022 and it is expected to surpass around USD 160.82 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 7.72% during the forecast period 2023 to 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.
What are Veterinary Lasers? How big is the Veterinary Lasers Industry?
Veterinary Lasers Market Overview:
The development and marketing of lasers intended expressly for use in veterinary applications are the focus of the veterinary lasers industry, a subsegment of the larger medical lasers market. These gadgets use particular light wavelengths to treat a variety of medical issues in animals.
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Simple dermatological issues to major surgeries may be involved in the disorders. Due to pet owners' growing awareness of many veterinary-related medical conditions and their increasing expertise, the demand for associated lasers has grown significantly in the last few years as the veterinary sector has flourished. As long as key players in the market keep supplying laser devices used to treat medical conditions using minimally invasive methods, the community is anticipated to have a high CAGR over the forecast period.
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Market Dynamics:
Growth Factors
- Increasing need 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 utilizing veterinary lasers do not call for the use of traditional surgical equipment, 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.
Restraints
- High related costs hinder market expansion
Due to the high expense of accompanying treatment regimens and the price of veterinary lasers themselves, many pet owners and animal welfare organizations 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 standardization in veterinary laser applications. In these conditions, the efficacy of laser therapy is still debatable.
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Report Scope:
| Report Attribute | Report Details |
| Market Size in 2022 | USD 88.91 Billion |
| Market Forecast in 2030 | USD 160.82 Billion |
| Growth Rate | CAGR of 7.72% |
| Base Year | 2022 |
| Forecast Years | 2023- 2030 |
| Key Companies Covered | 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, Spectrum Veterinary Instruments, VBS Direct Ltd., Respond Systems Inc., Thor Photomedicine Ltd., Teleflex Medical OEM, and others. |
| Segments Covered | By Application, Animal Type, Class Type, Product, and Region |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
| Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
Veterinary Lasers Market: Segmentation Analysis
The global veterinary lasers market is segmented based on application, animal type, class type, product, and region.
Based on application, the global market segments are regenerative & tissue repair, pain & inflammation management, and others. Due to more frequent usage of the equipment, the industry saw its largest revenue in the pain and inflammation management segment in 2022. Using veterinary lasers to treat illnesses that need to control pain and inflammation has proven to be quite successful. The use of lasers allows for the treatment of ailments like arthritis, soft tissue injuries, and any related post-surgical discomfort. Additionally, it is believed to hasten wound healing and lessen the development of scar tissue. The segment for tissue repair and regeneration is also anticipated to expand rapidly. The European Pet Food Industry Federation (FEDIAF) estimates that in 2020, Europeans would spend close to €40.5 billion on pet care.
Based on animal type, the veterinary laser industry segments are cats, dogs, and others.
Based on class type, the global market is divided into class 4, class 3, and class 2. Given that class 4 lasers are now one of veterinarians' top laser choices, the industry is projected to experience the highest CAGR in this segment. Compared to class 3 and class 2 lasers, these devices are powerful and deliver a higher energy density. Class 4 is now more adaptable and can be utilized in procedures for managing pain, repairing tissue, and mending wounds. Class 4 veterinary lasers have an energy density that can range from 60 J/cm2 to 500 J/cm2.
The global veterinary lasers market is segmented as follows:
By Application
- Regenerative & Tissue Repair
- Pain & Inflammation Management
- Others
By Animal Type
- Cats
- Dogs
- Others
By Class Type
- Class 4
- Class 3
- Class 2
By Product
- Surgical Lasers
- Therapeutic Lasers
Competitive Landscape
Some of the main competitors dominating the global veterinary lasers market include -
- 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
- Spectrum Veterinary Instruments
- VBS Direct Ltd.
- Respond Systems Inc.
- Thor Photomedicine Ltd.
- Teleflex Medical OEM
Key Insights from Primary Research:
- According to the analysis shared by our research analyst, the veterinary lasers market is likely to expand at a CAGR of around 7.72% during the forecast period (2023-2030).
- In terms of revenue, the veterinary lasers market size was valued at around US$ 88.91 billion in 2022 and is projected to reach US$ 160.82 billion by 2030.
- The veterinary lasers market is projected to grow at a significant rate due to the growing demand for non-invasive medical techniques
- Based on class type segmentation, class 4 was predicted to show maximum market share in the year 2022
- Based on application segmentation, pain & inflammation management was the leading application in 2022
- On the basis of region, North America was the leading revenue generator in 2022
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Key questions answered in this report:
- What is the market size and growth rate forecast for Veterinary Lasers industry?
- What are the main driving factors propelling the Veterinary Lasers Market forward?
- What are the leading companies in the Veterinary Lasers Industry?
- What segments does the Veterinary Lasers Market cover?
- How can I receive a free copy of the Veterinary Lasers Market sample report and company profiles?
Key Offerings:
- Market Size & Forecast by Revenue | 2023−2030
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis by Application, Animal Type, Class Type, Product, and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Regional Analysis:
- North America will remain dominant throughout the predicted period
North America is predicted to experience the strongest growth in the global veterinary lasers market, with the US accounting for the largest part of the regional market. Factors such as rising pet adoption rates, the availability of a competent labour force, a strong medical infrastructure including veterinary care facilities, and increased access to animal welfare organizations and private pet owners with funds for veterinary care.
Additionally, the rising investments in research and development to support technical improvements and the growing collaboration between market participants to improve product and service reach are anticipated to benefit the local industry. Due to a strong emphasis on animal care, a surge in the adoption of animals, and favourable medical legislation, Europe is expected to generate significant revenue.
By Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- France
- UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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Recent Developments
- In October 2020, Summus Laser, a leading player in the industry, announced the launch of the Horizon Veterinary Laser System. It is a class 4 laser system and is specifically designed to be used in the veterinary industry. The system runs on 28 watts of power and works on a combination of 4 wavelengths making it one of the most advanced lasers available in the market
- In January 2023, Multi Radiance Veterinary (MRV) announced its partnership with Digatherm Thermal Imaging as the former managed to gain the distributorship rights of Digatherm’s revolutionary thermography products, especially the infrared cameras
- In November 2020, Eltech K-LASER and INDIBA, a leading distributor of radiofrequency health products, announced a partnership targeting the US and Canadian markets. With this move, clients of K-Laser will now have access to the products and services of INDIBA.
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