Veterinary Eye Care Market to Witness Increase in Revenues by 2018 to 2028(Medical Treatment Eye Drops Ointments Injections Drugs Cyclosporine Tacrolimus Corticosteroids Others)
With the growing incidents of veterinary care across the globe, it is expected that the healthcare of the pets and companion animals is becoming highly significant. Major healthcare centers and veterinary medical care facilities are seen widening their scope for effective veterinary care. The veterinary eye care market is experiencing various developments that include expansion of existing veterinary eye care with the help of new strategies. The market players in the veterinary eye care market are exceeding their possibilities with expansion strategies. With the growth projected by the I-Med Pharma, a company involved in veterinary eye care, there is a lot of scope in the future for the veterinary eye care market.
Moreover, with the investments gained by the companies involved in pet care are expected to improve the delivery of the right veterinary eye care to in the coming years. With the acquisition strategies that allow gaining competitive edge over the market and provide better veterinary eye care are expected to be major highlights in the growth of the veterinary eye care market. With the increasing need for veterinary eye care, market players in the veterinary eye care market are also seen boosting the sales of veterinary eye care products in promising nations.
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Veterinary eye care is a general practice for the comprehensive ophthalmic examination and medical & surgical treatment of eye disorders majorly in companion animals. Normally, pets are highly susceptible to similar eye diseases as those of humans, such as cataracts, glaucoma, corneal injuries and retinal diseases requiring time to time veterinary eye care. Cataract, which is a common eye disease in senior animals, can also occur in animals suffering from diabetes. Cataract caused by diabetes is likely to result in other serious eye disorders that require immediate diagnosis and treatment. Other than cataract, glaucoma is also one of the prominent pet eye disease in veterinary eye care that causes pain and leads to the swelling of the eye balls. However, corneal ulcers and scars are likely to occur in pets due to infections caused by foreign objects or chronically dry eyes.
Ocular surface disorders majorly comprise distinct eye problems including Keratoconjunctivitis Sicca (KCS) or dry eyes, eye inflammation and gland dysfunction. The standard veterinary eye care treatment recommended for eye diseases broadly includes medical treatment and surgical treatment. Under the medical treatments segment defined for the veterinary eye care market, eye drops followed by drugs account for a significant revenue share in the global veterinary eye care market. Cyclosporine and Tacrolimus are commonly recommended drugs for eye diseases in veterinary eye care. Alternative treatment options in the veterinary eye care market, such as corticosteroid eye drops, ointments and injections, are likely to provide symptomatic pain relief and prevent recurrence, but are recommended along with standard drugs. There are few conditions in veterinary eye care that require an animal to be referred to a veterinary ophthalmologist, which include glaucoma, cataract, vision loss, congenital eye abnormalities (birth defects), lens luxation, uveitis (intraocular inflammation), corneal disease, retinal disease, dry eyes and eyelid abnormalities. Some of the major symptoms for KCS in the veterinary eye care market include red eyes, frequent rubbing of the eyes with paws, watery eyes, evidence of pain or soreness near the animal’s eye and others. Surgical treatment in the veterinary eye care market is likely to be required in case of acute and recurrent eye disease, mostly glaucoma and cataract. Some of the major end users of the veterinary eye care market that conduct eye-related surgeries for animals include veterinary hospitals, veterinary clinics and others. However, drugs, ointments and eye drops can be easily obtained from distributional channels segment of veterinary eye care market such as e-commerce, retail pharmacies, drug stores and others.
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Veterinary Eye Care Market: Drivers and Restraints
The growing prevalence and recurrence of eye diseases in animals, which include cataract and glaucoma, is expected to be a major factor driving the veterinary eye care market over the forecast period. Veterinary ophthalmology services offered by veterinarians provide the most updated veterinary eye care and surgical treatments for animals. The early aging of animals and the high number of undiagnosed eye diseases in animals are contributing to veterinary eye care market growth. The launch & addition of new drugs, topical solutions and therapies is another important factor contributing to the growth of the global veterinary eye care market. However, a variety of drugs are still under clinical trial phases, which is expected to drive revenue generation in the global veterinary eye care market. However, limited awareness about treatments for eye disorders in animals among pet owners is restraining the revenue growth of the global veterinary eye care market.
Veterinary Eye Care Market: Segmentation
The global veterinary eye care market can be segmented on the basis of treatment, indication, end users and geography.
Based on treatment, the global veterinary eye care market has been segmented into:
Diode Laser Surgery
Cataract Phacoemulsification & Lens Replacement
Glaucoma Drainage Implant Surgery
Based on indications, the global veterinary eye care market has been segmented into:
Ocular Surface Disorders
Based on distribution channel, the global veterinary eye care market has been segmented into:
Veterinary Eye Care Market: Overview
The global veterinary eye care market is expected to witness moderate growth over the forecast period. Several veterinary drugs are introduced in the veterinary eye care market. Of these, some are still under clinical trials and thus, there is high competition among local and regional players. Among the two treatment types, the medical treatment segment, which includes eye drops, ointments, and drugs, is expected to lead the global veterinary eye care market over the forecast period. The retail pharmacy distribution channels segment is expected to contribute a high share in the global veterinary eye care market as it is the most accessible channel and outpatient treatment is recommended for most animals. Veterinary hospitals also account for significant revenue generation in veterinary eye care market owing to a large number of eye surgeries performed by veterinarians in these facilities.
Veterinary Eye Care Market: Regional Outlook
Geographically, the global veterinary eye care market is segmented into North America, Latin America, Europe, Asia-Pacific excluding Japan (APEJ), Japan and the Middle East and Africa (MEA). North America is expected to be the dominant market in the global veterinary eye care market owing to high prevalence of eye diseases among animals and high spending on vet care as compared to other regions. The veterinary eye care market in APEJ is expected to grow at a significant CAGR due to an increase in the number of products offered by key domestic players. Europe is expected to register the second-largest share in the global veterinary eye care market throughout the forecast period owing to increased awareness about veterinary eye diseases among pet owners.
Veterinary Eye Care Market: Key Players
The global veterinary eye care market is highly fragmented owing to presence of large number of domestic manufacturers. Some of the key players operating in the global veterinary eye care market are Bausch & Lomb Incorporated; I-Med Animal Health; Menicon Co., Ltd.; Animal Eye Care LLC and Akorn, Inc., among others.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
The report covers exhaustive analysis on:
Supply & Demand
Competition & Companies involved
Regional analysis includes
North America (U.S., Canada)
Latin America (Mexico, Brazil)
Western Europe (Germany, Italy, U.K, Spain, France, Nordic countries, BENELUX)
Eastern Europe (Russia, Poland, Rest Of Eastern Europe)
Asia Pacific Excluding Japan (China, India, Australia & New Zealand)
Middle East and Africa (GCC, S. Africa, Rest Of MEA)
Detailed overview of parent market
Changing market dynamics in the industry
In-depth market segmentation
Historical, current and projected market size in terms of volume and value
Recent industry trends and developments
Strategies of key players and products offered
Potential and niche segments, geographical regions exhibiting promising growth
A neutral perspective on market performance
Must-have information for market players to sustain and enhance their market footprint.
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