Veterinary Eye Care Market to Grow by USD 1.05 Billion(2024-2028), Boosted by Rising Pet Ownership & Market Transformation Driven by AI - Technavio

NEW YORK, Feb. 7, 2025 /PRNewswire/ -- Report with the AI impact on market trends - The global veterinary eye care market size is estimated to grow by USD 1.05 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  5.62%  during the forecast period. Rising pet ownership is driving market growth, with a trend towards rising awareness about pet insurance. However, stringent regulatory approval process for drugs  poses a challenge. Key market players include AVENTIX, Bausch Lomb Corp., Boehringer Ingelheim International GmbH, BrightPet Nutrition Group LLC, Ceva Sante Animale, Compana Pet Brands LLC, Covetrus Inc., Dechra Pharmaceuticals Plc, Elanco Animal Health Inc., GoodVets Veterinary Services LLC, I MED Animal Health, Innovacyn Inc., Mars Inc., Merck and Co. Inc., Neogen Corp., NexGen Pharmaceuticals LLC, Norbrook Laboratories Ltd., Pfizer Inc., Senju Pharmaceutical Co. Ltd., Stokes Healthcare, Vetoquinol SA, Virbac Group, and Zoetis Inc..

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Market Driver

The veterinary eye care market is experiencing significant growth due to the increasing prevalence of eye disorders in cats and dogs. Early aging signs, diabetes, and poor vision are common reasons for pet owners seeking medical treatment for their furry friends. Cataracts are a major concern, leading to the use of veterinary drugs like Cyclosporine, Tacrolimus, and Corticosteroids for treatment. Clinical trials are ongoing for new eye drops and ointments, as well as advanced surgical procedures such as Diode Laser Surgery, Retinopexies, Retino Reattachment, Endoscopic CPC, Cataract Phacoemulsification, Lens Replacement, and Automated Vitrectomy. Indications include Ocular Surface Disorders, Glaucoma, Cataract, Anterior Uveitis, Retinal Diseases, Corneal Disease, and Retinal complications. Retail Pharmacies, Drug Stores, and Online Pharmacy provide access to necessary eye care products. Pet insurance coverage is essential for managing the costs of veterinary care. Eye lid abnormalities, Uveitis, Conjunctivitis, and Corneal complications are common infectious and systemic conditions. Livestock populations, including horses, cattle, swine, and companion animals, also require ophthalmologic care for various infectious diseases like Feline Herpesvirus 1, Feline infectious peritonitis, Toxoplasmosis, Feline immunodeficiency virus, Feline leukemia virus, Hyperthyroidism, Chronic renal failure, Systemic hypertension, Leptospirosis, Lyme disease, Equine influenza, Strangles, Rhodococcus equi, Salmonellosis, Hydrocephalus, Bovine viral diarrhea, Bluetongue virus, Vitamin A deficiency, Night blindness, Mydriasis, Ocular nerve atrophy, Retinal degeneration, Papilledema, and Genetic conditions. Ingeneus and Telehealth services offer innovative solutions for veterinary eye care. 

Pet insurance plays a crucial role in supporting pet owners with unexpected veterinary expenses, particularly in eye care. The increasing popularity of pet insurance is attributed to favorable policies, leading to market growth. Countries like the US, Australia, and Canada are implementing pet health insurance, covering over 2.68 million pets in the US alone (NAPHIA, 2020). This trend is projected to expand significantly during the forecast period. 

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 Market Challenges

• The Veterinary Eye Care Market faces several challenges in treating various eye disorders in cats, dogs, horses, and other companion and farm animals. Early aging signs, diabetes, and poor vision are common issues among pets. Eye disorders include cataracts, uveitis, conjunctivitis, corneal complications, and retinal complications. Veterinary hospitals, clinics, retail pharmacies, drug stores, and online pharmacies provide medical treatment through veterinary drugs such as Cyclosporine, Tacrolimus, and Corticosteroids. Clinical trials test the effectiveness of eye drops, ointments, injections, and surgeries like Diode Laser Surgery, Retinopexies, Retino Reattachment, Endoscopic CPC, Cataract Phacoemulsification, Lens Replacement, and Automated Vitrectomy. Indications include Ocular Surface Disorders, Glaucoma, Cataract, Anterior Uveitis, Retinal Diseases, Corneal Disease, and systemic conditions like Hyperthyroidism, Chronic renal failure, and Leptospirosis. Livestock population includes horses, cattle, swine, and others. Eye Care Products and Services cater to a wide range of infectious diseases, including Feline Herpesvirus 1, Feline infectious peritonitis, Toxoplasmosis, Feline immunodeficiency virus, and Feline leukemia virus. Pet insurance coverage is essential for managing the costs of veterinary eye care.
• The Veterinary Eye Care Market is subject to rigorous regulatory oversight from various international and national authorities. The US Food and Drug Administration (FDA), Canadian Food Agency, European Medicines Agency, Ministry of Agriculture, Forestry, and Fisheries (MAFF), and Australian Pesticides and Veterinary Medicines Authority (APVMA) are some of the key regulatory bodies that approve veterinary medicines, including those used in veterinary eye care. The Veterinary International Committee for Harmonization (VICH) also plays a crucial role in aligning regulatory agencies from the US, Europe, and Japan, and harmonizing guidelines and technical standards for veterinary product registration. Regulatory requirements for the authorization of novel veterinary pharmaceutical products, such as eye drops, antibiotics, vaccines, and other pharmaceutical products, are stringent in countries like Australia, Japan, and China.

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Segment Overview 

This veterinary eye care market report extensively covers market segmentation by 

• Application
• Dogs
• Cats
• Horses
• Type
• Eye Care Products
• Eye Care Services
• Geography
• North America
• Europe
• Asia
• Rest Of World (ROW)
• Route of Administration
• Oral
• Topical
•  
• Injectable
• Sale Channel
• Veterinary Hospitals & Clinics
• Pet Specialty Stores
• E-Commerce
• Others

1.1 Dogs-  Veterinary eye care is an essential aspect of canine health, addressing various eye conditions in dogs. Common issues include bacterial, viral, or fungal eye infections, which require identifying the cause and prescribing appropriate treatments. For instance, Vfend, a triazole antifungal medicine from Pfizer, is used to treat serious fungal infections. Conjunctivitis, or inflammation of the conjunctiva, is common and may be treated with topical medications like Tiacil from Virbac. Dogs are also prone to corneal injuries and ulcers, necessitating thorough examinations, foreign body removal, and medication application. Products like Optixcare Eye EMS from AVENTIX promote healing and comfort. With pet adoption on the rise and dogs used in security roles, the veterinary eye care market is poised for growth, catering to a wide range of eye conditions in dogs.

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Research Analysis

The Veterinary Eye Care Market encompasses a wide range of conditions and services related to the diagnosis and treatment of eye disorders in companion animals, horses, and farm animals. Early aging signs, such as poor vision, eye lid abnormalities, and cataracts, are common in cats and dogs, leading pet owners to seek veterinary eye care services. Diabetes can also cause ocular complications, including uveitis, conjunctivitis, corneal complications, and retinal complications. Veterinary medicine has made significant strides in the diagnosis and treatment of these ophthalmologic conditions, with advancements in telehealth services and innovative companies like Ingeneus providing remote consultations. Infectious diseases, such as Feline Herpesvirus 1 and Feline Infectious Peritonitis, are also prevalent in the veterinary eye care market. The market for eye care services in veterinary medicine continues to grow, with pet insurance coverage playing an increasingly important role in making these necessary treatments more accessible to pet owners. Horses and farm animals also require specialized eye care services to maintain their health and productivity. Overall, the veterinary eye care market is dedicated to improving the quality of life for animals by addressing a wide range of ocular disorders.

Market Research Overview

The Veterinary Eye Care Market encompasses a wide range of products and services designed to diagnose and treat various eye disorders in cats, dogs, and other companion animals, as well as livestock such as horses, cattle, and swine. Early aging signs, diabetes, and poor vision are common reasons for veterinary eye care, with conditions including cataracts, glaucoma, anterior uveitis, retinal diseases, corneal disease, and eye lid abnormalities. Veterinary hospitals, clinics, and telehealth services offer medical treatment through veterinary drugs like Cyclosporine, Tacrolimus, and Corticosteroids, as well as eye drops, ointments, injections, and surgery. Conditions like feline herpesvirus 1, toxoplasmosis, and leptospirosis can also impact eye health. Livestock populations are also affected by conditions like hydrocephalus, bovine viral diarrhea, and vitamin A deficiency. Eye care products and services include automated vitrectomy, cyclophotocoagulation, and cataract phacoemulsification. Indications for veterinary eye care include ocular surface disorders, ocular nerve atrophy, retinal degeneration, and papilledema. Veterinary medicine continues to advance with innovations like diode laser surgery, retinopexies, and retino reattachment. Pet insurance coverage is increasingly important for pet owners to ensure their animals receive necessary eye care. Retail pharmacies, drug stores, and online pharmacies offer access to veterinary eye care products.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Application
• Dogs
• Cats
• Horses
• Type
• Eye Care Products
• Eye Care Services
• Geography
• North America
• Europe
• Asia
• Rest Of World (ROW)
• Route of Administration
• Oral
• Topical
•  
• Injectable
• Sale Channel
• Veterinary Hospitals & Clinics
• Pet Specialty Stores
• E-Commerce
• Others

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

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SOURCE Technavio