Wilmington, Delaware, Aug. 23, 2023 (GLOBE NEWSWIRE) -- Global Veterinary Eye Care Therapeutics Market is valued at US$ 780 million in 2022 and is expected to grow at a significant CAGR of over 3.7% over the forecast period of 2023-2030, market report by RationalStat
Market Scope and Report Overview
Pet owners are more inclined to seek specialized treatments, such as eye care, for their animals as they become more aware of their animals' health and well-being. Improved diagnosis, treatment approaches, and therapies for numerous eye problems in animals have resulted from technological advances in veterinary medicine. Drug delivery technologies, surgical techniques, and diagnostic instruments have all advanced, increasing the efficacy and simplicity of veterinary eye care treatments.
According to a deep-dive market assessment by RationalStat, the global veterinary eye care therapeutics market has been analyzed on the basis of market segments, including treatment, indication, animal type, end user, and geography/regions (incl. North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
Market intelligence for the global veterinary eye care therapeutics market covers market sizes on the basis of market value (US$/EUR Million) and volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
In addition, the long-term sector and products/services 10-year outlook and its implications on the global Veterinary Eye Care Therapeutics market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Global Veterinary Eye Care Therapeutics Market: Segmental and Market Share Analysis
- On the basis of treatment, the eye drops segment is dominating the global veterinary eye care therapeutics market. Eye drops are recommended by veterinarians and pet owners because they are reasonably simple to administer. Comparing the application process to surgical or injective methods, it is less invasive.
- On the basis of indication, the anterior uveitis segment is anticipated to dominate the global veterinary eye care therapeutics market. This segment has received more attention as a result of veterinarians and veterinary ophthalmologists frequent focus on the diagnosis and treatment of eye disorders, such as anterior uveitis.
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Period Covered include data for 2019-2030 along with year-wise demand estimations
The veterinary eye care therapeutics market report analyzes the market on the basis of global economic situations, regional geopolitics, import-export scenarios, trade duties, market developments, organic and inorganic strategies, mergers and acquisitions, product launches, government policies, new capacity addition, technological advancements, R&D investments, and new market entry, replacement rates, penetration rates, installed base/fleet size, global and regional production capacity, among others.
RationalStat offers market analysis and consulting studies on the basis of dedicated and robust desk/secondary research supported by a strong in-house data repository. In addition, the research leverages data based on the real-time insights gathered from primary interviews. Market estimations and insights are based on primary research (covering more than 240 entities) and secondary research by leveraging international benchmarking.
The global veterinary eye care therapeutics market report also covers value chain and supply chain analysis that provides in-depth information about the value chain margins and the role of various stakeholders across the value chain. Market dynamics provided in the market study include market drivers, restraints/challenges, trends, and their impact on the market throughout the analysis period.
In the competition analysis section, the global veterinary eye care therapeutics market provides a detailed competition benchmarking analysis based on the market share of the leading companies/ brands/producers/suppliers, a market structure overview with detailed company profiles of more than 25 players with their financials, product/service offerings, major developments, business models, etc. This enables, clients and report buyers to make strong, precise, and timely decisions.
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Macroeconomic Scenario and the Impact of COVID-19 on Regional Economic Sentiment
In the latest RationalStat analysis, geopolitical conflicts and inflation are the cited economic risks, while concerns about the volatility across energy sectors prevail in Europe and other parts of the world. Some of the potential risks to the economic growth in the leading regions, including Asia Pacific, Europe, North America, the Middle East & Africa, and other developing regions, are inflation, volatile energy prices, supply chain disruptions, geopolitical instability, labor shortages, rising interest rates, and COVID-19 pandemic.
The global economy experienced heavy headwinds, throughout 2019-2021, as some countries witnessed subdued growth, while other countries continued to grapple with economic slowdowns. The COVID-19 pandemic has levied undue pressure across the majority of industries globally and has caused a major economic crisis in the US, India, Italy, the UK, Germany, India, Japan, South Korea, the UK, and many others. Besides, the exit of the UK from the European Union earlier in 2020 and the Russo-Ukraine war in 2022 exacerbated the ever-heightened global uncertainty.
In addition to this, the global economic growth slowed in 2022 to 3.3%, weaker than expected at the end of 2021, mainly weighed down by Russia’s war in Ukraine and the associated cost-of-living crisis in many countries. However, improvement in economic activities during the forecast period is expected. Growth is projected to remain at lower rates in 2023 and 2024, at 2.6% and 2.9% respectively.
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Competition Analysis and Market Structure
These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global veterinary eye care therapeutics market include,
- In April 2021, Ingeneus announced the addition of the IOPvet to the eyeTelemed product line, a device capable of assessing the intraocular pressure (IOP) of animals with ease and accuracy.
- In March 2020, The World Small Animal Veterinary Association (WSAVA) released a list of essential medicines for dogs and cats developed by the association's Therapeutics Guidelines Group (TGG) to address the challenges that companion animal veterinarians face in obtaining essential veterinary medicines.
Some of the prominent players that contribute significantly to the global veterinary eye care therapeutics market growth include I-MED Animal Health, Akorn Operating Company LLC, Boehringer Ingelheim International GmbH, Bausch & Lomb Incorporated, Zoetis Inc., Innovacyn, Inc., MiracleCorp, Nutri-Vet, Epicur Pharma, Menicon Co. Ltd., and AnimalEye Care LLC, among others.
RationalStat has segmented the global veterinary eye care therapeutics market based on treatment, indication, animal type, end user, and region
- Global Veterinary Eye Care Therapeutics Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Treatment
- Eye Drops
- Ointments
- Injections
- Drugs
- Global Veterinary Eye Care Therapeutics Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Indication
- Ocular Surface Disorders
- Glaucoma
- Cataract
- Anterior Uveitis
- Retinal Diseases
- Corneal Disease
- Others
- Global Veterinary Eye Care Therapeutics Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Animal Type
- Dogs
- Cats
- Others
- Global Veterinary Eye Care Therapeutics Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by End User
- Veterinary Hospitals
- Veterinary Clinics
- Others
- Global Veterinary Eye Care Therapeutics Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Region
- North America Veterinary Eye Care Therapeutics Market
- US
- Canada
- Latin America Veterinary Eye Care Therapeutics Market
- Brazil
- Mexico
- Rest of Latin America
- Western Europe Veterinary Eye Care Therapeutics Market
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe Veterinary Eye Care Therapeutics Market
- Russia
- Poland
- Hungary
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific Veterinary Eye Care Therapeutics Market
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Indonesia
- Thailand
- Philippines
- Vietnam
- Malaysia
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa Veterinary Eye Care Therapeutics Market
- GCC
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Nigeria
- Turkey
- Rest of the Middle East & Africa
- GCC
- North America Veterinary Eye Care Therapeutics Market
- Leading Companies and Market Players
- I-MED Animal Health
- Akorn Operating Company LLC
- Boehringer Ingelheim International GmbH
- Bausch & Lomb Incorporated
- Zoetis Inc.
- Innovacyn, Inc.
- MiracleCorp
- Nutri-Vet
- Epicur Pharma
- Menicon Co. Ltd.
- AnimalEye Care LLC
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Key Questions Answered in the Veterinary Eye Care Therapeutics Report:
- What will be the market value of the global veterinary eye care therapeutics market by 2030?
- What is the market size of the global veterinary eye care therapeutics market?
- What are the market drivers of the global veterinary eye care therapeutics market?
- What are the key trends in the global veterinary eye care therapeutics market?
- Which is the leading region in the global veterinary eye care therapeutics market?
- What are the major companies operating in the global veterinary eye care therapeutics market?
- What are the market shares by key segments in the global veterinary eye care therapeutics market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
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