The global veterinary laser market was estimated USD 83.96 million in 2014, and is expected to reach USD 192.36 million by 2023, registering a compound annual growth rate of 9.65%. Veterinary lasers uses specific wavelength of light to accelerate the tissue repair and to control the swelling, thus provides pain relieving solutions. They are mostly used for the treatment of the pets. Factors such as low treatment cost, less time consuming and safe treatment option is one of the driving factor for the growth of the market. The advancement in veterinary laser techniques, awareness among the consumers about per-care, and surgery availability option are also the driving factor for the growth of the market. The major limiting factor of the veterinary laser market is lack or absence of skilled professionals.
Product Outlook and Trend Analysis:
Based on the product the veterinary market is categorized into surgical lasers and therapeutic lasers. In terms of revenue, the therapeutic lasers segment dominates the global veterinary lasers market. Following this, is the surgical laser segment; it has been predicted that surgical laser segment will constantly dominate the market during the forecast period.
Laser Type Outlook and Trend Analysis:
Base on the types of laser the global veterinary laser market is segregated into class 2, class 3 and class 4. On the basis of laser types, class 3 segment has been dominating class 2 and class 4 segments. On the basis of volume, the class 3 segment has been consumed the most and is predicted to grow past a substantial units by the end of forecast period.
End User Outlook and Trend Analysis:
On the basis of the end users the global veterinary laser market is categorized into hospitals, clinics and others. The hospital segment among the others has acquired the largest share from the overall market and will continue to grow at a significant compound annual growth rate. On the other hand the veterinary clinics segment will witness considerably steady growth in the market.
Regional Outlook and Trend Analysis:
The North-American region has witnessed huge growth in the market. The market size here was estimated USDXX million in 2014 and is expected to grow at a higher compound annual growth rate. Latin-America has been one of the fastest developing and growing region, thus acquires the second largest market. On the other hand regions such as Asia-Pacific and Europe will have a steady growth in the market and is expected to garner maximum market share by 2023.
Competition Outlook and Trend Analysis:
The leading competitors for the global veterinary laser market are SpectraVET Inc., Biolase, Inc., LLC, K-Laser, LLC, Aesculight, Cutting Edge Laser Technologies, BS Direct Limited, Excel Lasers Limited, Aspen Laser Systems, and others.
The Veterinary Laser Market is segmented based on:
By Laser Type:
By End Users:
Rest of Europe
Rest of Asia Pacific
Rest of South America
Middle East and Africa
Rest of MEA
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?