The exclusive COVID-19 impact analysis report by Axiom MRC provides a 360 degree analysis of micro and macro-economic factors on the global veterinary lasers market. In addition, complete analysis of changes on the global veterinary lasers market expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on global economies, international trade, business investments, GDP and marketing strategies of key players present in the market. During COVID-19 pandemic, global veterinary lasers market was more or less affected due to supply chain distribution, declining demand for veterinary lasers from various application like health management, home health management, financial health management, social and behavioral management, which has certainly affected the market growth to major extend. However, post COVID-19 the market has witnessed the rising new growth opportunities and is expected to have emerging demand in upcoming years.
The key factor driving the market growth are increasing demand of therapeutic lasers in accordance with the advancement in laser technologies. Adoption of therapeutic lasers in veterinary practice growing significantly with expanding clinical application. Laser medicine has gain popularity in recent years and are used in conjunction with drug therapy. Veterinary lasers are very effective in reducing musculoskeletal pain, post-surgical pain, and inflammation & accelerates wound healing. Furthermore, advantages of the surgeries with veterinary lasers such as reduction of the recovery time and risks associated with surgery. Due to the various advantages, the adoption of the veterinary lasers which is likely to fuel growth of the global veterinary lasers market.
The global veterinary rising awareness of new technologies, innovation in pet health, laser surgical technology are widely accepted to improve clinical outcomes and provide easier and more convenient procedure with an overall low treatment cost. All these factors are contributing to the growth of the veterinary lasers market. This factors are expected to increase the market opportunity across the globe..
The major restraining factor for the global veterinary lasers market is high costs and the unavailability of reimbursement policies are limiting growth of the global veterinary lasers market. Additionally, the factors such as high cost of surgeries and lack of the proper technician are hampering growth of the global veterinary lasers market. These factor is expected to restrain the global veterinary lasers market.
The COVID-19 pandemic has disrupted global supply chain networks in an unprecedented way. Supply-demand imbalances have pushed manufacturers across sectors to grapple with multiple challenges there is an absence of insurance coverage along with the exclusionary provision of private health insurance schemes. Furthermore, the lack of proper veterinary healthcare infrastructure in under developed nations with basic treatment facilities for animal health, also poses yet another greater challenge for the veterinary lasers market to grow. These are the factors which is challenging for global veterinary lasers market
The report provides in-depth analysis of global veterinary lasers market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. With increasing demand for various veterinary lasers in various applications has led the increasing demand for market and is expected to witness the growth at a specific CAGR from 2022-2028.
The global veterinary lasers market comprises of different market segment like type, product, laser type, application, end user.
The component studied in the global veterinary lasers market portable, bench-top, compact. The compact laser is easy to used and powered by power bank. It has wireless bluethooth which is controlled by a smartphone and greater power, with 0.01mm accurate precision engraving, and including engraving range 10*10CM.Increasing innovation and research and development in the product is expected to increase the demand for these type.
The global veterinary lasers market by deployment mode is surgical laser, and therapeutic laser. A increasing used 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. Therapeutic lasers is expected to dominate the market shares as it acts specifically on wounded or damaged area and speeds up the recovery process. Moreover, it also strengthens muscle and bone, increases strength, and instantly enhances the overall quality of life.
The global veterinary lasers market by laser type is Class 2, Class 3, Class 4. Class 3 laser type is expected to dominate the market during the forecast 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. Class 4 lasers have more than 500 mW and are referred to as ‘hot’ lasers. Surgical and industrial lasers are in this class, which has the precautions of ‘fire hazard and fire danger. This factors are contributing to the veterinary lasers market.
The global veterinary lasers market finds its major application in soft tissue surgery, pain therapy. Amongst these, soft tissue surgery is expected to lead the market shares as surgery is considered to be an important part of treating animals in order to remove tumors. In most cases, surgery provides the best way to enhance the standard of living for pets. Effective soft tissue surgical laser should be able to vaporize and coagulate soft tissue simultaneously, thus simplifying procedures performed with this technology
The global veterinary lasers market finds its major end users in veterinary clinics, veterinary hospitals, others. Growing number of pet visits for surgical treatments in the hospitals and due to skilled practitioner and availability of all veterinary facilities in the clinics and hospital.
The global veterinary lasers market is studied for the following region North America, Europe, Asia-Pacific and Rest of the world (RoW). North America is likely to witness rising demand for veterinary lasers market. North America dominates the veterinary lasers market due to The growing populace of pets mainly drives the growth of this market & their humanization and increasing pets disorder owing to rise in disease incidence. For instance, as per American Pet Products Association noted that as of 2016, 70 million to 80 million dogs and 74 million to 96 million cats were owned in the U.S. The high prevalence of infectious diseases, and increasing awareness about the infectious pet disease and causes in this North America region.
The competitive landscape analysis of veterinary lasers market is certainly based range of market players operating in the healthcare market with increasing demand for production of veterinary lasers. Besides, number of market players offered wide range of products for different application in various geographic locations. The market has major competitive analysis based on new product launches as well as other developments.
The key players studied in market BIOLASE, Inc., Aesculight Llc, LiteCure LLC, ERCHONIA CORPORATION, CELasers, Respond Systems, VBS Direct Limited, SpectraVET, Aspen Laser Systems, LLC, Wuhan Dimed, Laser Technology Co., Ltd. Among Others
The veterinary lasers have been proven to be highly effective for drug-free and pain-free treatment, and provide accelerated healing, which has led to their large-scale adoption in veterinary medicine and surgical procedures. Veterinary lasers are widely being used for the treatment of chronic conditions including gingivitis, stomatitis, neurological, musculoskeletal, and dermatological disorders. Vendors in veterinary lasers market are constantly developing advanced and affordable surgery lasers for various ailments. Keeping up with this trend, some of the key market players have developed veterinary laser systems that utilize the most effective wavelengths for higher efficacy and better depth of penetration.
The global veterinary lasers market comprises of different market segment. The different type studied in the global veterinary lasers market are type, product, laser type, application, end user. The global veterinary lasers market by type includes various segment like portable, bench-top, compact. By product surgical laser, and therapeutic laser. The global veterinary lasers market by laser type includes various segment like Class 2, Class 3, Class 4. Class 3. By application, it is segmented into soft tissue surgery, pain therapy. The global veterinary lasers market finds various end user including veterinary clinics, veterinary hospitals, others. The global veterinary lasers market is studied for the following region North America, Europe, Asia-Pacific and Rest of the world (RoW). North America is likely to gain major market share and maintain its dominance over the estimated time period.
1) What are the drivers for veterinary lasers market?
The key driving factors of the market are advances in veterinary hospitals and clinics.
2) Which is the leading application segment for veterinary lasers market?
Soft tissue surgery has accounted the major market share, and is expected to witness the growth at highest pace during the forecast period.
3) Which region is gaining majority of market share during the forecast period (2022-2028)?
North America is expected to gain major market share during the forecast period (2022-2028).