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
About Us:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
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Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
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Email: sales@grandviewresearch.com
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