Veterinary Eye Care Market - Global Industry Analysis, Size, Trends, Growth, Forecast 2019 - 2029

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Veterinary Eye Care Market - Global Industry Analysis, Size, Trends, Growth, Forecast 2019 - 2029

Status : May, 2021 | Medical Devices

Report Digest

Global Veterinary Eye Care Market: Overview

The global veterinary eye care market is set to witness growth over the period of 2019 to 2029, owing to more and more people gaining in interest in keeping animals as companions or as guides through life, as per TMRR.

It is pertinent to note here that animals are not only kept as pets, but also as beasts of burden by farmers. For efficient work, it is essential that the animals be in good health. Eye injuries are a major cause of debilitation in such settings, requiring special care. A host of medical and surgical techniques - from as basic as an eye ointment to complex surgical procedures - provide this care and are a part of the veterinary eye care market.

Global Veterinary Eye Care Market: Competitive Landscape

The global veterinary eye care market is witnessing some notable development – a result of proactive measures deployed by players to capture higher market share. Some of these are:

In April 2018, Mars Petcare acquired OptiGen LLC to enhance DNA testing among mixed breed dogs, which shall forewarn of any diseases among them. This led to better market penetration for the former and a consolidated market position.

In 2017, Pathway acquired the Eye Care for Animals (ECFA) facility to boost productivity in the eye care market. This has raised the level of competition in the market and helped Pathway grow its market share.

This market is fragmented owing to presence of a large number of manufactures of eye care products. Some of these players are:

  • Zoetis
  • Boehringer Ingelheim
  • Bayer
  • Merck
  • TVM
  • Akorn
  • Nutri-Vet
  • MiracleCorp
  • Farnam
  • I-Med Animal Health
  • Beaphar
  • Vetericyn

Global Veterinary Eye Care Market: Key Trends and Drivers

  • More and more people today keep pets. A registered dog population of 470 million in 2018 is due to increase in the future as people increasingly look for animal companionship. 29% of elderly people in the U.S. are staying alone today and they need pets not just for companionship but also as guides through the daily functions of life.
  • As pets are kept as family, they are cared for in the same manner. The average life expectancy of a dog has risen from 10.5 to 11.8 years in 10 years due to this increased level of care, especially in old age. Such care often involves therapies to combat age related diseases, like diabetes mellitus or age related macular degeneration of the eyes. 
  • Livestock valuation currently stands at about 800 billion dollars globally. Some of these are also used by farmers as an economic helping hand and a social prize. And this is not just true for developing countries. In the U.S., the importance of farm ranches as centers of social and cultural experience is resurging. This is leading to increased care for farm animals and demand for innovative products to increase their standard of living and lifetime.

Global Veterinary Eye Care Market: Regional Analysis

North America and Europe currently dominate the global veterinary eye care market owing to a robust veterinary healthcare infrastructure and an increased adoption of pets by the regional population. 

The Asia Pacific region (APAC) is expected to witness moderate growth in the market over the forecast period. This growth rate can be attributed to less penetration of pet adoption in large areas of this region and absence of robust infrastructure for veterinary care. However, an increasing interest in the appeal of animal companions is set to provide tailwinds to regional growth. 

The global veterinary eye care market can be segmented on the basis of treatment, indication, end users and geography.

Based on treatment:

  • Medical Treatment
    • Eye Drops
    • Ointments
    • Injections
    • Drugs
      • Cyclosporine
      • Tacrolimus
      • Corticosteroids
      • Others
  • Surgery
    • Diode Laser Surgery
      • Retinopexies
      • Retino Reattachment
      • Endoscopic CPC
    • Cataract Phacoemulsification & Lens Replacement
    • Automated Vitrectomy
    • Glaucoma Drainage Implant Surgery

Based on indications:

  • Ocular Surface Disorders
  • Glaucoma
  • Cataract
  • Anterior Uveitis
  • Retinal Diseases
  • Corneal Disease
  • Others

Based on distribution channel:

  • Veterinary Hospitals
  • Veterinary Clinics
  • Retail Pharmacies
  • Drug Stores
  • Online Pharmacy
  • Others

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?