The market for medical laser equipment specifically created and utilised in veterinary care is referred to as the “Veterinary Lasers Market” Veterinarians use these lasers for a variety of medicinal and surgical procedures when treating animals.
Compared to conventional surgical techniques, veterinary lasers have fewer side effects, lessen tissue damage, hasten recovery, and improve precision. They can be utilised for a variety of treatments, including wound care, dental work, tumour removal, ophthalmology surgery, and therapy for rehabilitation.
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By 2033, the Veterinary Lasers Market is projected to be worth US$ 505.4 million, up from a value of US$205.8 million in 2023. The veterinary lasers market will expand at a CAGR of 9.4% from 2023 to 2033.
The increase in pet ownership is a major factor in the market expansion for veterinary lasers. Due to increased pet ownership and spending, the market for veterinary lasers is expected to witness a strong industry growth. Rising demand for therapeutic lasers, technological developments, astute business decisions, and greater use of laser systems by veterinary healthcare professionals are some of the significant factors driving market expansion.
Rising Popularity of Non-Invasive Methods Boosts Market Growth
The market for veterinary lasers could grow since there is a greater need for minimally invasive or non-invasive medical treatments for illnesses that affect animals. Using veterinary lasers in treatment methods is growing in popularity. Lasers do not cause pain or suffering in animals, in contrast to conventional surgical instruments.
These devices function by using specific light wavelengths to aim a laser beam at a therapeutic location. By using lasers, the healthy tissue surrounding the area that has to be treated is protected from any harm. Veterinary lasers are gaining popularity among pet owners as a result of their shown ability to reduce pain, speed up healing, and almost eliminate scarring.
Unleashing Opportunities: The Rising Demand for Pet Care Services Fuels Expansion Potential
The demand for high-quality and cutting-edge pet care services has increased over the past ten years as pet ownership rates rise and animal welfare organisations throughout the world step up their efforts with the support of supportive governmental regulations.
Pet owners and animal care facilities are becoming more equipped to handle the costs associated with caring for animals. They typically receive government aid, which expands the need for and size of the market for veterinary lasers.
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North America: Leading the Way in Innovation and Economic Power
The United States holds the lion’s share of the regional market, suggesting that North America will likely have the fastest growth. Rising pet adoption rates, a skilled labour force, and a strong medical infrastructure that supports veterinary care facilities are some of the factors propelling this rise. The number of animal welfare organisations is expanding, and more people are willing to pay for their pets’ medical treatment.
The regional industry may gain from the growing partnerships among producers of veterinary lasers to expand the reach of their goods and services as well as from the increased funding for R&D to propel technological advancements. Due to a strong emphasis on animal care, increased animal adoption rates, and advantageous medical legislation, Europe may produce tremendous cash.
Key Takeaways:
- The United States might increase its veterinary lasers market share by 19.6% between 2023 and 2033.
- North America to grab a market share of 28.2% between 2023 and 2033.
- European veterinary lasers industry to acquire a share of 23.7% from 2023 to 2033.
- Between 2023 and 2033, India to develop at a CAGR of 8.3% of the veterinary lasers industry.
- Japan’s market share of the veterinary lasers industry to be 8.4% between 2023 and 2033.
- During the forecast period, Chinese veterinary lasers business to expand at a CAGR of 8.5%.
- From 2023 to 2033, the United Kingdom veterinary lasers industry to register a 9.7% CAGR.
- The therapeutic and surgical lasers segment of the product category is predicted to acquire a market share of 43.17% by 2033.
- The Class 3 type laser segment to hold a market share of 45.64% in the laser type category between 2023 and 2033.
- The veterinary hospitals segment to acquire a substantial veterinary lasers market share of 40.9% in the end user category between 2023 and 2033.
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Competitive Landscape:
The veterinary lasers business is developing and consolidating. Competitive price strategies, alliances, product expansion, sales and marketing initiatives, and mergers and acquisitions are just a few of the strategic initiatives used by veterinary lasers manufacturers.
Latest Innovations:
- Multi Radiance Veterinary Partners with Digatherm Thermal Imaging to Expand Veterinary Diagnostic Capabilities
Multi Radiance Veterinary (MRV) announced its cooperation with Digatherm Thermal Imaging in January 2023 after acquiring the distributorship rights to Digatherm’s breakthrough thermography equipment, particularly the infrared cameras.
- Introducing Picosure Pro: Cynosure’s Next-Gen Laser Device for Wrinkles, Acne Scars, and Hyperpigmentation
In June 2022, Cynosure introduced the Picosure Pro, a next-generation aesthetic laser device with an improved platinum focus lens array that boosts collagen and elastin to help attack wrinkles, acne scars, and pores. With the addition of a flat lens, as FDA cleared for treating pigment in melasma and other hyperpigmentation disorders such as Tsa’s nevus and Hori’s nevus.
Key Players:
- Cutting Edge Laser Technologies
- BIOLASE, Inc.
- Aesculight Llc
- LiteCure LLC
- ERCHONIA CORPORATION
- Laserex Technologies Pty Ltd
- Respond Systems, Inc.
- Technological Medical Advancements, Inc.
- Pivotal Health Solutions
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Key Segments
By Product:
- Therapeutic Veterinary Lasers
- Surgical Veterinary Lasers
- Therapeutic And Surgical Veterinary Lasers
By Laser Type:
- Class 2 Veterinary Lasers
- Class 3 Veterinary Lasers
- Class 4 Veterinary Lasers
By End user:
- Vet Hospitals
- Vet Clinics
- Others
By Region:
- North America
- Western Europe
- Latin America
- Eastern Europe
- APECJ
- China
- Japan
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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