The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Veterinary Eye Care Global Market Report 2023, the veterinary eye care market is expected to show significant growth in the forecast period.

Strong Market Growth in Recent Years

• Market Expansion: The veterinary eye care market grew from $65.03 billion in 2023 to $68.25 billion in 2024, with a 5.0% CAGR.
• Key Growth Factors: This growth is driven by advancements in veterinary medicine, rising trends in pet ownership, emphasis on preventive healthcare, technological innovations, and increased education and awareness.

Projected Growth Through 2028

• Future Projections: The market is expected to reach $83.51 billion by 2028, growing at a 5.2% CAGR.
• Growth Catalysts: Factors such as population trends, regulatory environments, consumer preferences, improved healthcare access, and emerging diseases will drive future growth.

Expanding Pet Ownership Spurs Market Growth

• Pet Population Impact: The rising pet population is a key driver for the veterinary eye care market.
• Healthcare Importance: As more people own pets, the demand for veterinary eye care increases, ensuring pets’ ocular health and overall well-being.
• Statistics: In 2023, 66% of U.S. households owned a pet, accounting for 86.9 million pet-owning homes, including 65.1 million dogs and 46.5 million cats.

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Innovations in Veterinary Eye Care

• Advanced Ocular Lubricants: Companies are introducing innovative ocular lubricants to enhance eye health in animals.
• Product Example: In April 2024, Millpledge Veterinary launched “Oculeze,” a new ocular lubricant with natural ingredients like glycerin, aloe vera, and chamomile, designed to support eye health across various animal species.

Strategic Acquisitions Strengthening Market Position

• Dômes Pharma’s Expansion: In August 2023, Dômes Pharma acquired Sentrx Animal Care to expand its presence in North America and enhance its leadership in veterinary ophthalmology.
• Impact: This acquisition allows Dômes Pharma to broaden its product offerings and strengthen its global position in the veterinary eye care market.

Market Segmentation

• By Product Type: The market includes ophthalmic drugs, devices, and surgery.
• By Animal Type: Products cater to both companion animals and livestock.
• By Indication: Treatment areas include eyelid abnormalities, cataracts, glaucoma, retinal complications, uveitis, conjunctivitis, and corneal complications.
• By End User: The market serves veterinary hospitals, clinics, and other end users.

Regional Insights

• North America: The largest market region in 2023.
• Europe: Expected to be the fastest-growing region through 2028, driven by advancements in veterinary healthcare and increased pet ownership.

Conclusion
The veterinary eye care market is experiencing strong growth, fueled by rising pet ownership, innovations in treatment, and strategic acquisitions. As companies continue to introduce advanced products and expand their reach, the market is poised for significant expansion, ensuring better eye care for animals worldwide.

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