Veterinary Lasers Market Size Worth $160.8 Million By 2030

[sara James]

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.

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.

Related Press Release@ Veterinary Lasers Market Report

Veterinary Lasers Market Report Highlights

• 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