Veterinary lasers speed up the tissue repair and cure the inflammation with the elimination of pain. Rising demand for advanced veterinary leasers due to its non-surgical alternative from pet owners is driving growth of the global veterinary lasers market. The market is primarily driven by growing trend of pet ownership and growing awareness about the availability of the surgeries and therapeutics.
The growth of the veterinary lasers market is gaining traction due to increased adoption of pets by numerous people. Additionally, the veterinary lasers market is fuelled by the availability of the safe treatment which treats within less time and offers other benefits.
Rising awareness about pet care and development of the veterinary lasers are non-invasive and secure option of surgeries are fuelling growth of the global veterinary lasers market. The other advantages of the surgeries with veterinary lasers such as reduction of the recovery time and risks associated with surgery. Thanks to these advantages the adoption of the veterinary lasers which is likely to fuel growth of the global veterinary lasers market.
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However, the 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. Nevertheless, improving the implementation of pet insurance and favorable reimbursement policies are offering lucrative opportunities for key players in the next few years.
On the basis of region, the veterinary lasers market could be segmented into North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa. Among these regions, in terms of value, North America is expected to dominate the global veterinary lasers market followed by Latin America. Growth in North America is attributable to the increased ownership and growing awareness about the health of pets. The higher demand from the developing countries such as the US is the region is a key factor that the region is accounting for the higher share. The growth of the Latin America region is attributable to the substantial rise in the demand for the veterinary lasers.
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Some of the prominent players operating in the veterinary lasers market are BIOLASE, Inc., Aesculight Llc, LiteCure LLC, ERCHONIA CORPORATION, and Laserex Technologies Pty Ltd. These key players are increasingly taking part into strategies such as acquisition, mergers, and partnerships for improving their product portfolio and expansion of their reach globally. These players are also investing in the research and development activities for product improvement. These strategies of key players are helping them to acquire a substantial share in the overall market.