Dublin, May 17, 2024 (GLOBE NEWSWIRE) -- The "Global Veterinary Eye Care Market Size, Share & Trends Analysis Report by Animal Type (Canine, Feline), Type, Route of Administration, Indication, Sales Channel, Region, and Segment Forecasts, 2024-2030" report has been added to ResearchAndMarkets.com's offering.
The global veterinary eye care market size is expected to reach USD 6.57 billion by 2030, registering a compound annual growth rate (CAGR) of 5.45%
Rising prevalence of ocular diseases supported by advancement in diagnostic & treatment technologies are key growth drivers for this market. Moreover, rising pet population, increasing insurance coverage, and supportive government regulations are anticipated to boost market growth.
Veterinarians are currently capable to diagnose and treat ocular diseases in animals with improved precision and efficacy due to technological developments in the field. The introduction of optical coherence tomography (OCT), a non-invasive imaging technique that offers high-resolution, cross-sectional images of ocular tissues, is one instance of such advancements. 
Veterinarians can see remarkably detailed images of the layers of the retina, optic nerve, and other ocular structures due to OCT. When it comes to diagnosing diseases like macular edema, retinal degeneration, and abnormalities of the optic nerve in animals, this technology is especially helpful. A further instance involves electroretinography (ERG), a diagnostic technique that assesses how well the retina functions in response to light stimulation.
ERG provides important information about retinal function and health by measuring the electrical activity of retinal cells. ERG is used by veterinarians to diagnose diseases like hereditary retinal disorders, retinal degeneration, and retinal toxicity brought on by drugs or environmental exposure. Veterinarians can precisely diagnose and track the development of these conditions by evaluating the electrical responses of the retina. This enables them to make apprised treatment decisions and provide the most effective treatment.
Technological developments have resulted in novel treatment approaches for ocular diseases in animals in addition to diagnostic tools. For instance, laser therapy is gaining popularity as a treatment for several eye disorders, such as corneal ulcers, retinal detachment, and glaucoma. With laser therapy, damaged tissues can be precisely and specifically treated, reducing collateral damage to surrounding structures and accelerating the healing process. Furthermore, improvements in surgical methods, like microsurgery and minimally invasive procedures, have decreased postoperative complications and enhanced surgical results in animals undergoing ophthalmic surgery. In broad terms, the ability of veterinarians to detect, treat, and manage ocular diseases in animals has been improved by technological innovations like OCT, ERG, laser therapy, and complex surgical techniques.
To further develop the industry and meet the needs of animals with ocular conditions, market participants are taking an active role in a variety of initiatives. To increase the efficacy and efficiency of ophthalmic treatments, these activities include the development and acquisition of innovative products and technologies, such as patented crosslinked hyaluronic acid technology.
Furthermore, targeted DNA tests for the early detection and prevention of inherited eye diseases in particular breeds are being developed as a result of cooperative efforts between academic institutions, veterinary professionals, and research organizations to identify genetic variations responsible for these conditions. The advancement of veterinary eye care and the enhancement of animal ocular health outcomes the combined impact of these initiatives.
For example, SentrX Animal Care, using its proprietary BioHance technology, was taken over by Domes Pharma in August 2023. Through fewer applications, BioHance, a patented crosslinked Hyaluronic Acid technology, improves and speeds up the body's natural healing, hydration, and lubricating processes. Aiming to eliminate an eye disease that affects Old English Sheepdogs, the University of Cambridge, Veterinary Vision, and the Cambridgeshire Animal Hospital are working together to achieve this goal. Scientists studying genetics and veterinary medicine have discovered the genetic variation responsible for this breed's inherited eye disease syndrome. Dog breeders can use the test that has been developed to check whether their dogs carry the mutation.
Veterinary Eye Care Market Report Highlights
- By type, the treatment segment dominated the market with a share of over 56.51% in 2023 and is expected to grow at a CAGR of 6.07% from 2024 to 2030 due to advancements in veterinary ophthalmology have led to a wider range of effective treatment options, addressing various ocular conditions in animals, and improving their quality of life
- In terms of animal type, the canine segment attributed to the largest market share in 2023, and the feline segment is projected to grow at the fastest growth rate from 2024 to 2030 owing to a high incidence of common ocular diseases in animals
- In terms of route of administration, the topical segment accounted for the highest market share in 2023. Topical medications like eye drops & ointments offer convenience & effectiveness in treating various ocular conditions in animals, minimizing stress, and reducing the need for frequent veterinary visits. Their targeted application ensures precise dosing and maximum therapeutic results, making them a preferred choice for both acute and chronic eye conditions among veterinarians
- By indication, conjunctivitis will register the highest CAGR from 2024 to 2030. The high prevalence of conjunctivitis across various animal species, driven by factors, such as allergies, infections, and underlying health conditions, sustains consistent demand for veterinary eye care products and treatments
- By sale channel, the veterinary hospitals/clinics segment held the highest share in 2023 due to their accessibility and the specialized training of staff, facilitating efficient procurement for pet owners following diagnoses or prescriptions
- North America held the largest share of about 38.23% in 2023. On the other hand, Asia Pacific is anticipated to register the fastest CAGR of 8.05% from 2024 to 2030
- Rise in ophthalmic expression of veterinary disorders, advancements in technologies for veterinary ophthalmic diseases, and growing pet insurance coverage for ophthalmic surgeries are expected to drive market growth
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 180 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $4.5 Billion |
| Forecasted Market Value (USD) by 2030 | $6.57 Billion |
| Compound Annual Growth Rate | 5.4% |
| Regions Covered | Global |
Market Dynamics
Market Driver Analysis
- Ophthalmic Expression Of Veterinary Disorders
- Advancements In Technologies For Veterinary Ophthalmic Diseases
- Rise in Veterinary Patient Volume
- Growing Pet Insurance Coverage For Ophthalmic Surgeries
Market Restraint Analysis
- High Cost of Veterinary Eye Care
- Availability of Substitutes
Veterinary Eye Care Market Analysis Tools
- Industry Analysis - Porter's
- PESTEL Analysis
- Porters Analysis
- COVID-19 Impact Analysis
Competitive Landscape
- Reichert Inc.
- Boehringer Ingelheim
- Merck & Co., Inc.
- Zoetis Services Llc
- Dechra Pharmaceuticals
- Ceva Sante Animale
- Bausch & Lomb Incorporated
- Alcon Laboratories
- Baxter (Welch Allyn)
- Iridex Corporation
- Accutome Inc.
- Oehm und Rehbein GmbH
- An-Vision GmbH
- I-Med Animal Health
- Jorgensen Laboratories
- LKC Technologies Inc.
- OptoMed
- Neuronix
- Occuity
For more information about this report visit https://www.researchandmarkets.com/r/qii15t
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