Veterinary Lasers Market Size Worth $160.8 Million By 2030: Grand View Research, Inc.

SAN FRANCISCO, July 18, 2022 /PRNewswire/ -- The global veterinary lasers market size is expected to reach USD 160.8 million by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.7% from 2022 to 2030. The key factors driving the market include rising pet adoption, initiatives by market stakeholders, new market entrants, and rising income in emerging nations. For instance, BIOLASE, Inc., specializing in laser technology, has started to enter new markets including veterinary, pain management, and otolaryngology to address the unmet needs in these promising markets. Aesculight, on the other hand, is the only company manufacturing veterinary CO2 surgical lasers in North America.

Key Industry Insights & Findings from the report:

• The dogs animal type segment held the largest revenue share of more than 40.0% in 2021 and is expected to grow at a significant rate over the forecast period owing to the increasing popularity of dogs as pets across the globe.
• The pain and inflammation management application segment dominated the market in 2021. The regeneration/ tissue repair segment is projected to expand at the fastest CAGR over the forecast period.
• By class type, the class 3 lasers segment held the largest revenue share in 2021 due to the additional benefits of these lasers over other types.
• The therapeutic lasers product segment is expected to exhibit a lucrative growth rate over the forecast period.
• The veterinary hospitals and clinics' end-use segment held the largest revenue share in 2021 owing to the increasing number of veterinarians and veterinary hospitals.
• North America is expected to dominate the market over the forecast period due to favorable pet insurance policies and the growing availability of laser systems and services for veterinary applications.

Read 150 page market research report, 'Veterinary Lasers Market Size, Share & Trends Analysis Report By Product (Therapeutic Lasers, Surgical Lasers), By Animal Type, By Application, By Class Type, By End Use, By Region, And Segment Forecasts, 2022 - 2030', published by Grand View Research.

Veterinary Lasers Market Growth & Trends

Due to the limited access to veterinary care and dampened demand during the COVID-19 outbreak, the market for veterinary lasers was negatively impacted in 2020. Additionally, the market was impacted by the shift in healthcare priorities, a decrease in the number of surgeries, and reduced pet visits in adherence to social distancing norms. The market recovered gradually during 2021 as movement restrictions were eased and vet visits increased. The market is also anticipated to expand considerably over the forecast period as all economies open up and people adjust to the new normal.

Furthermore, the market for veterinary lasers is driven by the rise in the incidence of disorders including osteoarthritis, sprains, strains, otitis, and other chronic ailments. The prevalence of chronic diseases is also increasing due to the increasing number of risk factors such as obesity in pets. For instance, as per a study published in the Frontiers in Veterinary Science Journal in August 2020, Mesenchymal stem cells (MSC) were estimated to be beneficial in reducing lameness in arthritic dogs. The study also suggested that MSC treatment could be used as a safe, effective, and long-term therapy for canine osteoarthritis.

Veterinary Lasers Market Segmentation

Grand View Research has segmented the global veterinary lasers market based on animal type, product, application, class type, end-use, and region:

Veterinary Lasers Market - Animal Type Outlook (Revenue, USD Million, 2017 - 2030)

• Dogs
• Cats
• Others

Veterinary Lasers Market - Product Outlook (Revenue, USD Million, 2017 - 2030)

• Therapeutic Lasers
• Surgical Lasers

Veterinary Lasers Market - Application Outlook (Revenue, USD Million, 2017 - 2030)

• Pain & Inflammation Management
• Regeneration/Tissue Repair
• Others

Veterinary Lasers Market - Class Type Outlook (Revenue, USD Million, 2017 - 2030)

• Class 2
• Class 3
• Class 4

Veterinary Lasers Market - End-use Outlook (Revenue, USD Million, 2017 - 2030)

• Veterinary Hospitals & Clinics
• Others

Veterinary Lasers Market - Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• Latin America
• Brazil
• Mexico
• MEA
• South Africa
• Saudi Arabia

List of Key Players in the Veterinary Lasers Market

• SpectraVET
• Aesculight
• Excel Lasers Limited
• IRIDEX Corporation
• SOUND
• Multi Radiance Medical
• ASALaser
• BIOLASE, Inc.
• Cutting Edge Laser Technologies
• Summus Medical Laser, LLC

Check out more related studies published by Grand View Research:

• Veterinary Endoscopes Market - The global veterinary endoscopes market size is anticipated to reach USD 314.2 million by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a significant CAGR of 6.6% from 2021 to 2028. The key factors driving the growth include rising diagnostic and interventional procedures in companion as well as livestock animals and technological advancements.
• Veterinary Surgical Instrument Market - The global veterinary surgical instrument market size is expected to reach USD 1.5 billion by 2027, according to a new report by Grand View Research, Inc., registering a CAGR of 7.0% from 2020 to 2027. Growing demand for pet adoption is expected to drive the market over the forecast period. Increasing income in developing countries is another driving factor. For instance, according to a report by the American Veterinary Medical Association (AVMA) in 2017, around 46.0% of households had multiple types of pets in the U.S. Furthermore, key players are implementing newer strategies to sustain in this competitive market. For instance, in March 2019, Bruhat Bengaluru Mahanagara Palike (BBMP) in India planned to introduce a rescue ambulance to rescue injured animals for faster treatment. The ambulance will be equipped with all the necessary tools such as surgical instruments and sterilizers.
• Veterinary Prosthetics & Orthotics Market - The global veterinary prosthetics & orthotics market size is anticipated to reach USD 68.6 million by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a significant CAGR of 8.9% from 2022 to 2030. Some of the drivers attributing to the market growth include rising pet dog ownership, the number of veterinary surgeries across the globe, initiatives by key companies, and orthopedic disorders in pet dogs. For injured animals, the use of orthoses (braces) and prostheses is becoming more widespread. Any medical device that is fastened to the body to provision, position, immobilize, prevent or correct deformity, help weak muscles, or increase function is referred to as an orthosis. Prosthetics are also medical devices that are used to replace a missing or severed leg section.

Browse through Grand View Research's  Animal Health Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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