Market Size of Veterinary Procedure Lights Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 3.50 % |
| 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 Procedure Lights Market Analysis
The veterinary procedure lights market is expected to register a CAGR of 3.5% during the forecast period.
The COVID-19 pandemic had a significant impact on the veterinary procedure lights market due to the lockdown and travel restrictions imposed by the different countries around the world and partial or fully closure of veterinary services. For instance, as per the article published in September 2022 in Frontiers, spay-neuter clinics performed a sharp and significant decline in the number of procedures in March and April 2020 as a result of the COVID-19 pandemic. This adversely affected the utilization of procedure lights, which impacted the market growth. However, surgeries began to rebound in in the post pandemic coinciding with the development of safety measures such as masking, physical distancing, testing, and curbside veterinary reception. The market is expected to witness a significant growth in the coming years due to the increase in veterinary surgeries and rise in pet care managements across the globe.
Factors such as increase in number of pet adoption, rising pet humanization and the rising rate of pet injuries coupled with surgery cases are expected to drive the market growth over the forecast period. For instance, as per the 2022 statistics by HealthforAnimals, the estimated total worldwide companion animal diagnostics spending was 4.6 billion in 2022. Thus, the focus on monitoring animals is expected to utilize the examination lights in the veterinary clinics, thereby driving the market growth over the forecast period. Furthermore, an increasing number of hospitals performing surgeries in animals are driving the market growth. Surgery is commonly used in the management of solid tumors (i.e. tumors that are 'lumps' rather than tumors such as leukaemia that are not just in one place) in dogs and cats. Mostly these cancer cells are removed through surgery. Moreover, as per the article published in February 2022 in Wiley, cancer is also the leading cause of disease-related death for older companion and working dogs in the developed world. Hence to demolish the disease, surgery is the main option provided and as cancer in dogs becomes more prevalent surgical procedures were more adopted and thereby utilizing the surgical lights which leads to the market growth.
Thus, due to the surge in pet adoption and increase in veterinary surgeries, the market studied is likely to witness a significant market growth over the forecast period. However, high cost of the veterinary procedures are expected to restrain the market growth over the forecast period.
