Press release
Emerging Trends Influencing The Growth Of The Veterinary Eye Care Market: Introduction Of Advanced Ocular Lubricants In Veterinary Eye Care
Veterinary Eye Care
How Big Is the Veterinary Eye Care Market Size Expected to Be by 2034?
The veterinary eye care market is projected to grow from $68.25 billion in 2024 to $71.97 billion in 2025 at a CAGR of 5.4%. The historical growth is attributed to advancements in veterinary medicine, the increasing trend of companion animal ownership, the rise of preventive healthcare, technological innovations, and increasing education and awareness.
The veterinary eye care market is anticipated to experience strong growth in the coming years, reaching $87.63 billion by 2029, with a compound annual growth rate (CAGR) of 5.0%. This growth is expected due to factors like population trends, consumer preferences and spending, access to healthcare, insurance, and emerging diseases. Notable trends include advancements in imaging techniques, minimally invasive surgical methods, and gene therapies.
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What Are the Emerging Segments Within the Veterinary Eye Care Market?
The veterinary eye care market covered in this report is segmented -
1) By Product Type: Ophthalmic Drugs, Ophthalmic Devices, Ophthalmic Surgery
2) By Animal Type: Companion Animal, Livestock Animals
3) By Indication: Eyelid Abnormalities, Cataract, Glaucoma, Retinal Complications, Uveitis, Conjunctivitis, Corneal Complications, Other indications
4) By End User: Veterinary Hospital, Veterinary Clinics, Other End Users
Subsegments:
1) By Ophthalmic Drugs: Anti-Inflammatory Drugs, Antibacterial Drugs, Antifungal Drugs, Lubricating Agents
2) By Ophthalmic Devices: Intraocular Lenses, Tonometers, Ophthalmoscopes, Retina Imaging Systems
3) By Ophthalmic Surgery: Cataract Surgery, Glaucoma Surgery, Retinal Surgery, Corneal Transplantation
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What Long-Term Drivers Are Shaping Veterinary Eye Care Market Trends?
The growing pet population is expected to fuel the growth of the veterinary eye care market. The rise in pet ownership, supported by societal trends and advancements in veterinary care, has increased the demand for eye care services for pets. The American Pet Products Association reported that 66% of US households owned pets in 2023, driving the demand for veterinary eye care.
Who Are the Top Competitors in Key Veterinary Eye Care Market Segments?
Major companies operating in the veterinary eye care market are Boehringer Ingelheim, Zoetis Inc., Merck Animal Health, Bausch & Lomb Incorporated, Virbac, Menicon Co. Ltd., Nutramax Laboratories Inc., Manna Pro Products LLC, Farnam Companies, Bayer Animal Health, Beaphar, Revival Animal Health, MiracleCorp Products, Zymox, Domes Pharma, Epicur Pharma, TVM UK Animal Health Ltd., I-MED Animal Health, an-vision GmbH, Optixcare, MENFORSAN, Nutri-Vet, Boss Pet Products Inc.
What Trends Are Driving Growth in The Veterinary Eye Care Market?
In the veterinary eye care market, companies are focusing on ocular lubricants to improve animal eye health. In April 2024, Millpledge Veterinary launched Oculeze, a new ocular lubricant designed to relieve eye conditions in animals, made with natural ingredients like glycerin, aloe vera, and chamomile, offering hydration and soothing properties.
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Which Regions Are Becoming Hubs for Veterinary Eye Care Market Innovation?
North America was the largest region in the veterinary eye care market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the veterinary eye care market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Veterinary Eye Care Market?
2. What is the CAGR expected in the Veterinary Eye Care Market?
3. What Are the Key Innovations Transforming the Veterinary Eye Care Industry?
4. Which Region Is Leading the Veterinary Eye Care Market?
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