In 2023, the veterinary lasers market had a value of USD 205.8 million; by 2033, it is anticipated to have grown to USD 505.4 million. From 2023 to 2033, the veterinary lasers business is expected to grow at a CAGR of 9.4%.
Future Market Insights foresees a comparison and review analysis of the dynamics of the veterinary lasers industry, primarily influenced by some industry aspects and a few distinct influences on therapeutic views that promote industry innovation.
A few recent developments in the industry are the growth of veterinary informatics, which includes the dissemination and application of veterinary medical electronic health records, and improvements in digital imaging and communications in veterinary medicine.
The slow market adoption during the first half of the forecast period is mainly attributable to the emerging use of Natural Language Processing (NLP) and machine learning in biomedical informatics, which has an impact on the advancements in veterinary informatics and translational research, as well as the developments in zoonotic disease surveillance and reporting systems. These factors together account for the change in growth rate.
Despite these opportunities, the industry is still likely to face some obstacles, such as the absence of structural guidelines in veterinary medical practices and formal, structured support for intensive training in informatics and methods development from national veterinary organizations.
| Attributes | Details |
|---|---|
| Veterinary Lasers Market CAGR (2023 to 2033) | 9.4% |
| Veterinary Lasers Market HCAGR (2018 to 2022) | 8.9% |
| Veterinary Lasers Market Size - 2023 | USD 205.8 million |
| Veterinary Lasers Market Size - 2033 | USD 505.4 million |
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Due to the rising need for therapeutic lasers in line with the development of laser technologies, the global market has grown. With more clinical applications, veterinary practices are adopting therapeutic lasers more and more.
Laser medicine has grown in popularity in conjunction with pharmacological therapy in recent years. Veterinarian lasers are great for lowering musculoskeletal discomfort, post-operative pain, inflammation, and wound healing, among other things. Photobiomodulation therapy has grown significantly in popularity due to the widespread acceptance of these non-invasive treatments in veterinary medicine for treating companion animals as opposed to farm animals.
In 2023, the global market may account for just under 0.4% of the USD 45.4 billion animal health market. Due to its inherent benefits, laser treatment is becoming more and more popular. For instance, new research in veterinary medicine suggests that utilizing laser therapy to treat wounds may speed up the healing process.
Due to an increase in the number of laser-assisted procedures performed in clinical settings, the veterinary lasers market is expected to experience substantial growth between 2023 and 2033.
The market is projected to increase significantly over the following six years at a CAGR of almost 9.4%, with an additional potential of USD 145.7 million from 2023 to 2033. Throughout the projection period, demand for therapeutic lasers may remain at its highest level.
With increased public awareness of emerging technologies, laser surgical technology is widely acknowledged to improve clinical results, provide a more straightforward, convenient process, and have a generally cheap treatment cost. All of these elements are causing the veterinary lasers market to expand.
There has been ongoing development of new items and expansion of their product line to fulfill the rising demand.
For instance, the USA Food and Drug Administration (FDA) approved the Erchonia Corporation's FX 635 low-level laser for marketing in July 2019 to treat all-over musculoskeletal pain.
Numerous significant obstacles to the veterinary lasers industry prevent it from expanding and developing. Along with exclusionary clauses in private health insurance plans, there is a significant lack of insurance coverage for veterinary care in many nations. This lack of funding restricts pet owners' access to veterinary laser treatments, which has an effect on market growth.
The veterinary lasers industry is lacking in highly qualified specialists and professionals. The widespread use and efficient use of veterinary lasers are constrained by the lack of qualified staff, which limits the market's potential for growth.
A big barrier is the insufficient infrastructure for veterinary healthcare in developing countries. These areas frequently lack the essential veterinary laser support infrastructure as well as basic animal health care facilities. This discrepancy hinders market growth and restricts the application of veterinary laser technology in underserved regions.
In general, overcoming these obstacles through legislative changes, educational and training initiatives, and enhanced healthcare infrastructure may be essential for promoting the market expansion and wide acceptance of veterinary lasers.
North America Outlook:
| Attributes | Details |
|---|---|
| North America Market Share - 2023 | 28.2% |
| United States Market Share - 2023 | 19.6% |
The United States the leading country of the North American region with a significant market share in 2023 and projected to continue commanding the high growth during the coming years from 2023 to 2033 in veterinary lasers market. The growing populace of pets mainly drives the market growth and their humanization and increasing pets disorder owing to rise in disease incidence.
Asia Pacific Outlook:
| Attributes | Details |
|---|---|
| Japan Market Share (2023) | 8.4% |
| India Market CAGR (2023 to 2023) | 8.3% |
| China Market CAGR (2023 to 2023) | 8.5% |
Japan holds over 8.4% share in the global market in the year 2023, and projected to expand at a CAGR of 8.5%. The rising number of chronic wound surgeries in the country leads to enhance the demand of veterinary lasers.
In 2023, China is expected to hold considerable share in the Global veterinary lasers industry with more than 9.3% share and is projected to expand at a CAGR of 8.5% from 2023 to 2033. This is predominantly due to the rising number of pet hospitals, for instance, as per the recent estimates, currently, there are 12,000 pet hospitals in China and more than 10% are chains from established brands.
The increasing populace of pet per households along with growing awareness for pet health among pet owners to enhance the veterinary lasers market by 2033.
Europe Outlook:
| Attributes | Details |
|---|---|
| France Market Share (2023) | 23.7% |
| France Market CAGR (2023 to 2023) | 10.4% |
| United Kingdom Market CAGR (2023 to 2023) | 9.7% |
France and United Kingdom to remain the most lucrative countries in veterinary lasers market, expected to grow with a CAGR of 10.4% and 9.7% respectively throughout the forecast period. This is due to high adoption of companion animal’s per-house across these countries. The per-capita veterinary spending is for United Kingdom was around USD 93 in 2019 and while France was around USD 87. This has resulted in a significant shift towards pets visits in healthcare settings for pain management and chronic wound healing.
With significant demand from healthcare settings on usage of veterinary lasers may pave ways for more opportunity during the forecast period.
Product Outlook
| Segment | Therapeutic And Surgical Lasers |
|---|---|
| Segment Share | 43.17% |
By product, the therapeutic and surgical lasers is expected to expand at a CAGR of 9.5% during the forecast period from 2023 to 2033.
With the success of laser therapy among humans, there has been a significant inclination of veterinarians towards usage of therapeutic and surgical lasers for rehabilitation purposes as well as for comfortable procedures. These lasers have a unique ability to vaporize or expunge the tissue and are also utilized to make incisions, as well as to erase unhealthy tissue.
Not only does the laser kill any bacteria during the procedure, but it also seals the lymphatics, hence reports a much less swelling post-operatively. This enables the pet to resume its normal activities sooner.
Owing to the technological benefits of the laser therapy, the veterinary lasers market is experiencing its faster adoption and hence the growth is reflected. Therefore it’s driving the demand for veterinary lasers during the forecast period from 2023 to 2033.
Laser Type Outlook
| Segment | Class 3 Type Laser |
|---|---|
| Segment Share | 45.64% |
The Class 3 type laser dominated the veterinary lasers market in laser type segment, contributing an around 45.64%of the revenue share in 2023. This trend is expected to continue to grow during the study period. The high share of this segment is attributed to its inherited safety and increased usage in pet surgeries and related treatment as compared to other devices.
| Segment | Veterinary Hospitals |
|---|---|
| Segment Share | 40.9% |
Based on the end user, Veterinary hospitals remains the leading segment, with more than 40.9% market share in 2023. Growing number of pet visits for surgical treatments in these hospitals may provide lucrative opportunities for market growth for veterinary lasers.
Technological advancements and increasing development of new product lines to provide cost effective devices are the key strategies adopted by manufacturers and integrators for technology transfer and to increase consumer base in different geographies.
Key players are focusing on expansion of their brands and technology in emerging regions by strategic partnerships, and collaborations by key manufacturers to strengthen their market presence.
Key Players
Novel Breakthroughs and Advancements:
| Company | Cutting Edge Laser technologies |
|---|---|
| Strategy | Cutting Edge Laser Technologies Forms Partnership with Patterson Veterinary for Laser Distribution |
| Details | In Oct 2017, Cutting Edge Laser technologies entered into a strategic partnership with Patterson Veterinary. Patterson Veterinary may distribute multiwave locked system (MLS) therapy lasers and surgical lasers nationwide |
| Company | LiteCure |
|---|---|
| Strategy | Laser Therapy Powerhouse: LiteCure Teams Up with FYZICAL to Expand Reach |
| Details | In May 2017, LiteCure owned LightForce Therapy Lasers, expanded therapeutic reach by partnering with physical therapy franchise, FYZICAL, as exclusive laser therapy partner to bring their unique rehabilitative and revenue solutions to physical therapists across the country |
The veterinary hospitals segment holds high revenue potential.
Japan, the United States and China are estimated to dominate the global market.
The market is forecast to register a CAGR of 9.4% through 2033.
During 2018 to 2022, the market registered a CAGR of 8.9%.
The growing awareness towards laser therapy is the current market trends.
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