Soaring Demand Set to Propel Veterinary Eye Care Market to $85.98 Billion by 2029

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What Is the Expected CAGR for the Veterinary Eye Care Market Through 2025?
The market size for veterinary eye care has robustly expanded in the past few years. It is set to increase from $68.25 billion in 2024 to $71.8 billion in 2025, reflecting a compound annual growth rate (CAGR) of 5.2%. The growth seen in the historic period is due to factors such as developments in veterinary medicine, changes in pet ownership patterns, preventive health care, technological advancements, and increased education and awareness.

What's the Projected Size of the Global Veterinary Eye Care Market by 2029?
The market for veterinary eye care is expected to experience moderate growth in the coming years, with predictions suggesting it will reach a size of $85.98 billion in 2029, growing at a compound annual growth rate (CAGR) of 4.6%. Factors contributing to this predicted growth during the forecast period include population trends, regulatory conditions, consumer behavior and spending, healthcare accessibility and insurance, and the emergence of new diseases and conditions. The forecast period is also expected to see significant trends such as the development of cutting-edge imaging techniques, the prevalence of minimally invasive surgical procedures, and advancements in gene therapies.

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Top Growth Drivers in the Veterinary Eye Care Industry: What's Accelerating the Market?
The flourishing population of domesticated animals is anticipated to boost the expansion of the market for veterinary eye care. The concept of pet population pertains to the sum total of household animals that humans nurture for companionability, emotional aid, leisure activities, or for any other purposes not of utilitarian nature. The escalating number of pets is the result of societal trends that advocate pet ownership, advancements in the field of veterinary medication, and the growing cognizance about the essence of healthcare for pets. Veterinary eye care plays a significant role in identifying and addressing vision-related ailments in pets, thereby enhancing their overall visual well-being and quality of life. For example, as per the National Pet Owners survey organized by the American Pet Products Association (APPA), a non-profit entity based in the U.S, 66% of U.S households, approximately 86.9 million homes, had pets in December 2023. This included close to 46.5 million cats, 65.1 million dogs, and 2.2 million horses. Hence, the swelling population of pets is stimulating the progression of the veterinary eye care market.

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What Trends Will Shape the Veterinary Eye Care Market Through 2029 and Beyond?
Firms dominating the veterinary eye care market are zeroing in on the development of innovative products like ocular lubricants with the aim to improve the ocular well-being and comfort of animals, enhance treatment success, and cater to a broad range of eye ailments. Ocular lubricants are uniquely developed products aimed at hydrating and safeguarding the eye surface in animals. Such lubricants are effective in maintaining the optimal moisture levels of the cornea and conjunctiva, thereby mitigating issues such as dryness, discomfort, and irritation. For example, Millpledge Veterinary, a UK veterinary products manufacturer, unveiled a novel ocular lubricant named Oculeze in April 2024. Meant for enhancing eye health in animals, this product can be used for multiple species such as dogs, cats, horses, and rabbits, and is deemed especially useful for conditions warranting added moisture or lubrication for eye health. The ocular lubricant comprises natural active ingredients like glycerin (0.8%), aloe vera, propolis extract, and chamomile, heralded for their hydrating and soothing qualities. Additionally, it's phosphate-free, pH-neutral, and suitable for numerous conditions needing extra moisture or lubrication for preserving eye health.

What Are the Main Segments in 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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Which Top Companies are Driving Growth in the Veterinary Eye Care Market?
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.

Which Regions Will Dominate the Veterinary Eye Care Market Through 2029?
North America was the largest region in the veterinary eye care market in 2024. 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.

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