Excellent Growth of Veterinary Lasers Market Opportunity Assessment (2018 – 2028)
Press Release – 14
Jan 2019
Research
and Development News
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.
Latest
Update
"Veterinary Lasers Market: Attractive Investment Opportunities
Exist in Latin America North America Continues to Dominate: Global
Industry Analysis (2013 - 2017) and Opportunity Assessment (2018 -
2028)"
with Industries Survey | Global Current Growth and Future.
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According to the latest research, the US$ 123.2 Mn
global veterinary lasers market is apprehended to reach beyond US$
336 Mn by the end of 2028. The market for veterinary lasers is
foreseen to witness robust growth over a 10-year projection period
2018-2028, at a CAGR of 9.7%. Primarily driven by growing pet
ownership, the market will also gain traction due to growing demand
for laser therapies in both surgical and therapeutic procedures.
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North
America to Remain at the Forefront; Latin America to Emerge Most
Attractive Market
The regional analysis of the global market for veterinary lasers highlights continued dominance of North America, followed by Latin America. North America registered a market value share of more than 26% in 2017, which is expected to stay dominant throughout the forecast period. In terms of growth, North America's market is anticipated to thrive at the fastest CAGR of 10.8% between 2018 and 2028. Increasing pet ownership and soaring awareness about maintaining pet healthcare will collectively fuel the sales of veterinary lasers in North America. This regional market will continue to be led by the US throughout the forecast period.
Latin America, the second largest market for veterinary lasers, will also remain the second fastest growing region with a robust CAGR of 10.2% over the assessment period. By product type, therapeutic laser segment is expected to stay dominant, while by laser type, class 3 segment is presumed to be dominant. By end-user, clinics are anticipated to account for the largest value share of the total revenues in 2028.
The regional analysis of the global market for veterinary lasers highlights continued dominance of North America, followed by Latin America. North America registered a market value share of more than 26% in 2017, which is expected to stay dominant throughout the forecast period. In terms of growth, North America's market is anticipated to thrive at the fastest CAGR of 10.8% between 2018 and 2028. Increasing pet ownership and soaring awareness about maintaining pet healthcare will collectively fuel the sales of veterinary lasers in North America. This regional market will continue to be led by the US throughout the forecast period.
Latin America, the second largest market for veterinary lasers, will also remain the second fastest growing region with a robust CAGR of 10.2% over the assessment period. By product type, therapeutic laser segment is expected to stay dominant, while by laser type, class 3 segment is presumed to be dominant. By end-user, clinics are anticipated to account for the largest value share of the total revenues in 2028.
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Increasing
prevalence of acute and chronic ailments in animals, followed by
decent rise in adoption of imaging devices and equipment, is likely
to spur the demand for veterinary lasers in the Latin American
region. Owing to earlier and higher penetration of pet care, the pet
care market in Latin America is expected to present the most
attractive investment opportunities to leading animal healthcare
device manufacturers. Moreover, significantly growing demand for
non-invasive procedures, growing number of veterinary healthcare
facilities, and impressively flourishing markets in Brazil and Mexico
will also provide a major thrust to market growth in this
region.
Europe is expected to experience a CAGR of over 9% during 2018-2028, whereas developing regions (other than Latin America) will reportedly see CAGRs of above 8%. In a nutshell, all the regional markets across the globe are likely to witness healthy growth over the forecast period.
Therapeutic Laser to Lead by Product Type, Class 3 Laser to Dominate by Laser Type, and Hospitals to Top by End-user
By product type, therapeutic laser segment registered dominance in the global veterinary lasers market in terms of revenue in 2017, and the trend is projected to continue throughout the forecast period. By 2028 end, therapeutic laser segment is estimated to cross a value worth US$ 140 Mn, followed by surgical laser segment - the second key segment in the veterinary laser market. Therapeutic and surgical (combined) will be the most attractive segment estimated to thrive at 10.5% CAGR over the forecast period. Based on laser type, class 3 segment has been dominant over class 2 and class 4 segments. In terms of volume, consumption of class 3 lasers will possibly exceed 20,000 units by the end of 2028. The assessment period is expected to observe robust growth of class 4 laser segment at a CAGR of over 10%. On the basis of end-user, adoption of veterinary lasers by hospitals has been the highest over the years but the next few years are likely to see maximum adoption of veterinary lasers by clinics, in terms of end-user.
Europe is expected to experience a CAGR of over 9% during 2018-2028, whereas developing regions (other than Latin America) will reportedly see CAGRs of above 8%. In a nutshell, all the regional markets across the globe are likely to witness healthy growth over the forecast period.
Therapeutic Laser to Lead by Product Type, Class 3 Laser to Dominate by Laser Type, and Hospitals to Top by End-user
By product type, therapeutic laser segment registered dominance in the global veterinary lasers market in terms of revenue in 2017, and the trend is projected to continue throughout the forecast period. By 2028 end, therapeutic laser segment is estimated to cross a value worth US$ 140 Mn, followed by surgical laser segment - the second key segment in the veterinary laser market. Therapeutic and surgical (combined) will be the most attractive segment estimated to thrive at 10.5% CAGR over the forecast period. Based on laser type, class 3 segment has been dominant over class 2 and class 4 segments. In terms of volume, consumption of class 3 lasers will possibly exceed 20,000 units by the end of 2028. The assessment period is expected to observe robust growth of class 4 laser segment at a CAGR of over 10%. On the basis of end-user, adoption of veterinary lasers by hospitals has been the highest over the years but the next few years are likely to see maximum adoption of veterinary lasers by clinics, in terms of end-user.
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