London, March 21, 2024 (GLOBE NEWSWIRE) -- Global veterinary intraocular lenses market is expected to value at US$69.3 Million by the end of 2030. The market growth is projected at a CAGR of 5% from 2023 to 2030, highlights the significant increase in pet ownership, especially among the urban population and Innovative and affordable intraocular lens solutions offered by manufacturers.
The veterinary intraocular lenses market paints a promising picture, with significant growth anticipated in the coming years. One of the primary factors driving this growth is the increased awareness and demand for ophthalmic care in animals. Pet owners are increasingly recognising the importance of eye health in their beloved animals, leading to a surge in demand for specialised treatments, including intraocular lens implants.
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REPORT SCOPE
| Report Attributes | Details | |
| Base Year | 2022 | |
| Forecast Year | 2023 – 2030 | |
| Market Size in 2022 | US$44.7 Mn | |
| Estimated Market Size in 2030 | US$69.3 Mn | |
| CAGR | 5% | |
| Growth Drivers |
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| Segmentation |
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| Regional Coverage |
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The field of veterinary ophthalmology has experienced remarkable growth and specialisation, reflecting a notable demand-side trend in the veterinary intraocular lenses market. Highly trained veterinary ophthalmologists now offer a wide range of advanced treatments, including intraocular lens implants, contributing to the growing demand for such procedures.
A key factor driving the veterinary intraocular lenses market is heightened awareness and demand for ophthalmic care in animals, particularly driven by specialised veterinary ophthalmologists. North America leads the market due to a culture of high pet ownership, while Asia Pacific sees growing integration of advanced health systems.
The advancements in veterinary ophthalmology, including the availability of tailored intraocular lens options for different animal species. Veterinary ophthalmologists are increasingly extending their services beyond common pets like dogs and cats to include exotic animals, large animals, and birds. This diverse patient base necessitates a wide range of intraocular lens options tailored to the unique needs of different species.
" North America's dominance in the market is sustained by a culture of high pet ownership and advancements in veterinary medicine, while Asia Pacific presents lucrative opportunities for market expansion,” says the analyst.
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Key Takeaways
- Monofocal lenses dominate the market, offering a simple and cost-effective solution for vision problems like cataracts.
- North America is anticipated to account for the largest share.
- Cataract indication holds a significant share due to the prevalence of cataracts in animals and the necessity for surgical intervention.
- Veterinary hospitals are key demand generators, equipped with advanced facilities for complex eye surgeries.
Insights into Segmentation Analysis
Monofocal Lenses Emerge as the Leading Segment Based on Lens Type
- Monofocal lenses emerge as the dominant segment in terms of lens type, owing to their simplicity, reliability, and cost-effectiveness.
- Monofocal lenses provide a single focal point, making them suitable for addressing specific vision problems such as cataracts. Their affordability makes them a preferred choice for many veterinarians and pet owners.
Cataract Indicaation Witnesses Significant Share of the Market
- Cataract indication holds a significant share of the market, driven by the positive surgical outcomes and high prevalence of cataracts in animals.
- Unlike some other eye conditions that might be managed through medication or lifestyle changes, cataracts often require surgical intervention to restore vision. This necessity creates a substantial demand for intraocular lenses, further propelling market growth.
Veterinary Hospitals Play Vital Role in Driving Intraocular Lenses Demand
- Veterinary hospitals play a crucial role in driving demand generation for intraocular lenses. Equipped with advanced medical equipment and facilities, these hospitals are capable of performing intricate procedures such as cataract surgery and intraocular lens implantation.
- Pet owners seeking specialised care for their animals often prefer veterinary hospitals due to their reputation for advanced services and access to specialised veterinary ophthalmologists.
Key Report Highlights
- The field of veterinary ophthalmology has experienced remarkable growth and specialisation, reflecting a notable demand-side trend in the veterinary intraocular lenses market.
- Veterinary ophthalmologists are no longer limited to treating common pets like dogs and cats. They are increasingly extending their services to exotic animals, large animals, and birds.
- The field benefits from the availability of advanced diagnostic tools and equipment, allowing for precise and comprehensive assessments of eye conditions in animals.
Insights into Regional Analysis
Growing Demand for Advanced Veterinary Care in Asia Pacific
- The growing integration of advanced health systems in Asia Pacific region presents significant opportunities for market expansion.
- With a significant increase in pet ownership, especially among the urban population, there is a growing demand for advanced veterinary care, including eye treatments like cataract surgeries and intraocular lens implants.
- Manufacturers have the opportunity to penetrate this growing market by offering innovative and affordable intraocular lens solutions tailored to the specific needs of different animal species in the region.
North America Emerges as the Leading Regional Players in the Global Market
- North America emerges as the dominant region in the global veterinary intraocular lenses market, driven by a culture of high pet ownership and a willingness to invest in advanced medical treatments for pets.
- The region boasts a substantial population of pet owners who prioritise their pets' healthcare needs, contributing to the demand for specialised eye care, including intraocular lens procedures.
- North America leads in technological advancements in veterinary medicine, with innovations in intraocular lens technology originating or gaining early adoption in the region.
Key Companies Profiled in the Global the Veterinary Intraocular Lenses Market
- I-Med Animal Health
- Bausch & Lomb Incorporated
- Ocularvision Inc.
- AJL Ophthalmic S.A.
- Excellent Hi-Care Pvt Ltd
- An-Vision
- FREEDOM OPHTHALMIC PVT LTD
- Global Ophthalmic Private Limited
Global Veterinary Intraocular Lenses Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - By Lens Type, By Disease Indication, By End User Coverage, By Geographic Coverage and By Company): https://www.fairfieldmarketresearch.com/report/veterinary-intraocular-lenses-market
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