rising pet ownership is driving the Veterinary Eye Care Market
Technavio analyzes that the Veterinary Eye Care Market is expected to grow at a CAGR of 5.62% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 1.05 billion.There are various factors that contribute to the growth of the market. The veterinary eye care market is experiencing significant growth due to the increasing trend of pet ownership worldwide. With more households welcoming pets into their homes, the demand for specialized eye care services for animals has risen. Veterinarians and ophthalmologists specializing in animal eye care are in high demand, providing essential services for diagnosing and treating various eye conditions in pets. This market segment is expected to continue expanding as pet owners prioritize their animals' health and wellbeing.
In the veterinary eye care market, advanced technologies such as Endoscopic CPC, Cataract Phacoemulsification, Lens Replacement, and Automated Vitrectomy are utilized for diagnosing and treating various eye conditions in animals. Indications for veterinary eye care include ocular surface disorders, glaucoma, cataract, anterior uveitis, retinal diseases, and corneal disease. These conditions can be caused by bacterial, viral, or fungal infections, which require accurate identification and appropriate medication. For instance, Pfizer's Vfend, a triazole antifungal medicine, is used to treat serious fungal infections in dogs, including invasive candidiasis, invasive aspergillosis, and other emerging fungal infections. Conjunctivitis, an inflammation of the conjunctiva, is a common condition in dogs, and treatment may involve topical medications, cleansing solutions, or ointments to alleviate symptoms.
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Veterinary Eye Care Market Segmentation
As per our research findings, here are some of the key competitors that are leading the industry
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The Veterinary Eye Care Market encompasses various eye disorders in cats and dogs, including early aging signs, diabetes, poor vision, cataracts, eye lid abnormalities, uveitis, conjunctivitis, corneal complications, and retinal complications. Pet owners seek veterinary medicine for the treatment of these ocular disorders, which can also affect companion animals like horses and farm animals. Infectious diseases such as Feline Herpesvirus 1 and Feline Infectious Peritonitis are common causes of eye problems. Eye Care Services offer ophthalmologic cures through insurance coverage, telehealth services like Ingeneus, and specialized treatments for conditions such as cataracts and uveitis.
The Veterinary Eye Care Market is a significant segment of the global Pharmaceuticals industry, encompassing companies and research institutions focused on the development and production of veterinary drugs. According to Technavio, the global Pharmaceuticals market, which includes the revenue generated from manufacturers and providers of equipment, supplies, pharmaceuticals, biotechnology, and life sciences tools and services, is projected to expand due to several key drivers. One such factor is the increasing aging population of cats and dogs, leading to a rise in eye disorders such as cataracts and diabetes-related complications. As pet owners become more proactive in addressing their pets' health concerns, there is a growing demand for veterinary eye care solutions, including eye drops, ointments, and clinical trials for new treatments. This trend is expected to fuel the growth of the Veterinary Eye Care Market within the broader Pharmaceuticals industry.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
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