Veterinary Laser Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 8.30 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Veterinary Laser Market Analysis
Over the next few years, the veterinary laser market is expected to register an annual rate of 8.3%.
The COVID-19 pandemic had a substantial impact on the veterinary laser market. The implementation of lockdowns in several nations, as well as the corresponding limited access to and closure of veterinary facilities, led to a decline in the use of veterinary services, in turn affecting market growth. Due to the forced cancellation and reduction of veterinarian appointments, it was difficult for pet owners to avail proper veterinary treatment for their pets. For instance, as per an article published by NCBI in June 2021, the number of veterinary services in Romania was reduced by 18% during the pandemic as compared to the year 2019. It also stated that working hours were reduced in more than half of the veterinary workplaces among the surveyed population, and 18% of veterinarians received only emergency cases. This indicates that the COVID-19 pandemic was noted to have slightly slowed veterinary laser market growth.
The advancement in veterinary lasers, along with an increase in the number of pet owners, are major factors driving the demand for veterinary lasers. According to a survey published by the American Veterinary Medical Association (AVMA) in November 2021, both dog and cat populations have increased in recent years, as have the percentages of households owning dogs or cats. According to the Pet Food Manufacturers Association, as of 2021, 3.2 million households in the UK had acquired a pet since the start of the pandemic. There are now 34 million pets in the UK, including 12 million cats, 12 million dogs, 3.2 million small mammals like guinea pigs and hamsters, 3 million birds, and 1.5 million reptiles.
For instance, according to an article published in Veterinary Science in January 2021, low-level laser (light) therapy can be used in the treatment of veterinary-related orthopedics, neurology, and wound care. Furthermore, these lasers can be used to treat dermatological disorders such as hot spots, otitis externa, and non-inflammatory alopecia, among others. Thus, low-level laser therapy treatments are gaining popularity in veterinary medicine and have evolved significantly over the past decade. The laser ablates sensory nerve endings, which helps to reduce postoperative pain, according to an article published by the NCBI in March 2022 on developments in veterinary otology.Due to the growing research and development activities, the veterinary laser market is estimated to grow steadily during the forecast period.
Therefore, owing to the aforementioned factors, it is anticipated that the studied market will witness growth over the analysis period.
Veterinary Laser Market Trends
This section covers the major market trends shaping the Veterinary Laser Market according to our research experts:
The Therapeutic Lasers Segment Witnessed Dominant Segment Over the Forecast Period in the Veterinary Laser Market.
The therapeutic lasers segment holds a significant revenue share in the veterinary laser market. Cold laser therapy is what therapeutic lasers are.It uses laser light set to wavelengths between 600 and 980 nanometers. It is used to perform minor surgeries and promote regeneration of tissue. Factors such as the growing number of severe chronic diseases in animals and increasing animal welfare and productivity are expected to boost market growth in the region. For example, in June 2022, NCBI published an article stating that osteoarthritis affects approximately 90% of dogs in the United States, resulting in a reduced range of motion, difficulty climbing and jumping, decreased physical activity, and a lower quality of life.
Therapeutic lasers with advancements in laser technology are a major factor driving the market. For example, in February 2021, Medical Plus introduced M-VET, MLS LASER therapy laser, which aids in the inhibition of pro-inflammatory molecules, produces short and long-term analgesic effects, allowing for a significant and progressive function recovery, improves the quality of newly formed tissue, and speeds up healing times.
Therefore, the therapeutic laser segment is expected to witness significant growth over the forecast period due to the above-mentioned factors.
North America is Expected to Dominate the Veterinary Laser Market
North America held a notable market share of the veterinary laser market in 2021. The high share of the region is due to the significant presence of key players such as Aspen Laser Systems LLC and Biolase Inc., the adoption of various strategies initiated by key companies to increase market penetration, rising research activities, rising diagnostic rates, and increasing animal population and vet care expenditure. growing demand for therapeutic lasers.
According to the American Pet Products Association (APPA), in 2021, about 70% of United States households will have a minimum of one pet. The country has witnessed an increase in overall and per capita spending on pet care in the past few decades. Additionally, according to the North American Pet Health Insurance Association (NAPHIA), the 2020 results show total premium volume in the U.S. amounted to $1.99 billion USD, a 27.5% annual increase over 2019. and had more than USD 1.99 billion in gross written premiums in 2020. Pet insurance enables pet owners to efficiently spend on quality care services for their pets and provide them with optimal treatment options.
The increasing number of launches of veterinary lasers by the market's players is also propelling the market's growth. For example, in May 2021, RWD Life Science will launch a new product, the RLT-24 veterinary laser, in laser technologies designed to provide reliable, effective treatment such as pain relief, faster healing, and recovery from injuries for your pet patients, and this product is widely used for the diagnosis, treatment, and surgery of pet patients, as well as relevant basic clinical research.The advanced strategies initiated by animal health key players to identify novel laser technology indicators are further enhancing the opportunity for segment growth.
Therefore, owing to the presence of major players, an increase in pet adoption will propel the growth of the market in the North American region.
Veterinary Laser Industry Overview
The market for veterinary lasers is emerging and consolidated. Leading players deploy numerous strategic initiatives that include competitive pricing strategies, partnerships, product expansion, sales and marketing initiatives, and mergers and acquisitions. VBS Direct Limited, Spectra Vet Inc., Aspen Laser Systems LLC, Aesculight, Cutting Edge Laser Technologies, Excel Lasers Limited, Biolase Inc., k-Laser LLC, Erchonia Corporation, and Respond Systems are some of the key players in the markets.
Veterinary Laser Market Leaders
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Aspen Laser Systems LLC
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Aesculight
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Cutting Edge Laser Technologies
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Excel Lasers Limited
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Biolase Inc
*Disclaimer: Major Players sorted in no particular order
Veterinary Laser Market News
- June 2022: Cynosure launched a next-generation aesthetic laser device (the Picosure Pro device) designed with an advanced platinum focus lens array to increase collagen and elastin to help combat wrinkles, acne scars, and pores. with the addition of a flat lens, as FDA cleared for treating pigment in melasma and other hyperpigmentation issues like the nevus of Tsa and Hori's nevus.
- February 2021: Medical Plus launched M-VET, which helps inhibit proinflammatory molecules in animals.
Veterinary Laser Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Growing Demand for Therapeutic Lasers with Improvements in Laser Technology
- 4.2.2 Reduction of the Recovery Time and Risks Associated with Surgery
- 4.2.3 Growing Number of Severe Chronic Diseases in Animals
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4.3 Market Restraints
- 4.3.1 High Costs Associated with Surgery and Lasers
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4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
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5.1 By Product Type
- 5.1.1 Therapeutic Lasers
- 5.1.2 Surgery Lasers
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5.2 By Animal Type
- 5.2.1 Dogs
- 5.2.2 Cats
- 5.2.3 Others
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5.3 By Application
- 5.3.1 Pain and Inflammation Management
- 5.3.2 Regeneration or Tissue Repair
- 5.3.3 Other Applications
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5.4 By Class
- 5.4.1 Class 2
- 5.4.2 Class 3
- 5.4.3 Class 4
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5.5 Geography
- 5.5.1 North America
- 5.5.1.1 United States
- 5.5.1.2 Canada
- 5.5.1.3 Mexico
- 5.5.2 Europe
- 5.5.2.1 Germany
- 5.5.2.2 United Kingdom
- 5.5.2.3 France
- 5.5.2.4 Italy
- 5.5.2.5 Spain
- 5.5.2.6 Rest of Europe
- 5.5.3 Asia-Pacific
- 5.5.3.1 China
- 5.5.3.2 Japan
- 5.5.3.3 India
- 5.5.3.4 Australia
- 5.5.3.5 South Korea
- 5.5.3.6 Rest of Asia-Pacific
- 5.5.4 Middle-East and Africa
- 5.5.4.1 GCC
- 5.5.4.2 South Africa
- 5.5.4.3 Rest of Middle East and Africa
- 5.5.5 South America
- 5.5.5.1 Brazil
- 5.5.5.2 Argentina
- 5.5.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 VBS Direct Limited
- 6.1.2 SpectraVET Inc
- 6.1.3 Aspen Laser Systems LLC
- 6.1.4 Aesculight
- 6.1.5 Cutting Edge Laser Technologies
- 6.1.6 Excel Lasers Limited
- 6.1.7 Biolase Inc.
- 6.1.8 K-Laser LLC
- 6.1.9 Erchonia Corporation
- 6.1.10 Respond Systems
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityVeterinary Laser Industry Segmentation
As per the scope of the report, veterinary laser therapy is the process of treating an animal with the use of focused light. Unlike most light sources, the light from a laser is tuned to specific wavelengths. The veterinary laser market is segmented by product type (therapeutic lasers and surgery lasers), animal type (dogs, cats, and others), application (pain and inflammation management, regeneration or tissue repair, and others), laser type (class 2, class 3, and class 4), and geography (North America, Europe, Asia-Pacific, the Middle East and Africa, and South America). The report offers the value (in USD million) for the above segments.
| By Product Type | Therapeutic Lasers | |
| Surgery Lasers | ||
| By Animal Type | Dogs | |
| Cats | ||
| Others | ||
| By Application | Pain and Inflammation Management | |
| Regeneration or Tissue Repair | ||
| Other Applications | ||
| By Class | Class 2 | |
| Class 3 | ||
| Class 4 | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | Middle-East and Africa | GCC |
| South Africa | ||
| Rest of Middle East and Africa | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
Veterinary Laser Market Research FAQs
What is the current Veterinary Laser Market size?
The Veterinary Laser Market is projected to register a CAGR of 8.30% during the forecast period (2024-2029)
Who are the key players in Veterinary Laser Market?
Aspen Laser Systems LLC, Aesculight, Cutting Edge Laser Technologies, Excel Lasers Limited and Biolase Inc are the major companies operating in the Veterinary Laser Market.
Which is the fastest growing region in Veterinary Laser Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Veterinary Laser Market?
In 2024, the North America accounts for the largest market share in Veterinary Laser Market.
What years does this Veterinary Laser Market cover?
The report covers the Veterinary Laser Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Veterinary Laser Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Veterinary Laser Industry Report
Statistics for the 2024 Veterinary Laser market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Veterinary Laser analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
