Veterinary Ophthalmology Equipment Market worth $697 million in 2029
The report "Veterinary Ophthalmology Equipment Market by Product-Diagnostic Device (Ophthalmoscope, Tonometer), Surgical (Microscope, Implant, Shunt, bandage Lens), Application (Glaucoma, Cataract), Animal (Equine, Canine, Feline), End User - Global Forecast to 2029 ", is projected to reach 697 million in 2029 from USD 485 million in 2024, at a CAGR of 7.5% between 2024 and 2029.
Browse 336 market data Tables and 66 Figures spread through 319 Pages and in-depth TOC on "Veterinary Ophthalmology Equipment Market by Product-Diagnostic Device (Ophthalmoscope, Tonometer), Surgical (Microscope, Implant, Shunt, bandage Lens), Application (Glaucoma, Cataract), Animal (Equine, Canine, Feline), End User - Global Forecast to 2029"
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The veterinary ophthalmology equipment market is driven by the growing demand for specialized eye care for pets, advancements in technology, and rising pet healthcare expenditure. However, factors like the high cost of equipment, limited access to specialists, and regional variations in pet healthcare awareness can restrain market growth.
This report divides veterinary ophthalmology equipment into five segments – product, application, animal type, end user and region.
“Based on diagnostic devices by product, the Electroretinography (ERG) Device segment is expected to grow at the highest CAGR during the forecast period.”
Under diagnostic devices of by product, Electroretinography (ERG) Device segment is forecasted to grow at the highest CAGR from 2024 to 2029. the non-invasive nature, comprehensive assessment of retinal function, versatility, and potential for early disease detection make ERG devices a valuable tool in veterinary ophthalmology. This, coupled with growing awareness of retinal diseases and advancements in ERG technology, likely contributes to the ERG devices segment growing at the highest CAGR during the forecast period.
“Based on indication by treatment, the cataract segment is expected to grow at the highest CAGR during the forecast period.”
Under indication of by treatment, cataract segment is forecasted to grow at the highest CAGR from 2024 to 2029. the high prevalence of cataracts in animals, the impact of cataracts on vision and quality of life, advancements in cataract surgery techniques, increasing pet ownership and humanization, specialized expertise, and technological innovations have led to the cataract segment to grow at the highest CAGR during the forecast period.
“The equine segment is expected to grow at the highest CAGR, by animal during the forecast period.”
By animal type segment, equine segment is expected to grow at the highest CAGR. Horses are susceptible to various ophthalmic conditions such as conjunctivitis, corneal ulcers, and uveitis. The prevalence of these conditions necessitates regular ophthalmic examinations and treatments, contributing to the demand for ophthalmology equipment in the equine segment. Overall, high prevalence of ocular conditions in horses, increasing pet ownership, growing awareness about equine health, specialized equine ophthalmology services, technological advancements, performance and competitive factors, and the presence of large animal veterinary practices have led to the equine segment growing at the highest CAGR during the forecast period.
“The specialty clinics segment is expected to grow at the highest CAGR, by end user during the forecast period.”
By end user segment, the specialty clinic segment is expected to grow at the highest CAGR. General veterinary practices often refer cases requiring specialized ophthalmic care to specialty clinics. As the number of general practices continues to grow, so does the volume of referrals to specialty clinics. Increased awareness, advanced equipment needs, specialized expertise, referrals, and growing pet ownership contribute to the high growth rate of the specialty clinic segment in the veterinary ophthalmology equipment market.
“In 2023, Europe was the region with the second largest market share in veterinary ophthalmology equipment market. “
Veterinary ophthalmology equipment is segmented into five major regions, namely, North America, Europe, Asia Pacific (APAC), Latin America, and the Middle East and Africa.
Europe accounted for the second-largest share of veterinary ophthalmology equipment in 2023. Europe's strong veterinary infrastructure, favorable economic conditions, growing pet ownership, and focus on animal welfare position it as a strong contender with the second-largest market share in the veterinary ophthalmology equipment market.
The market players profiled in the global veterinary ophthalmology equipment market include Bausch + Lomb Corporation (Canada), Revenio Group Oyj (Finland), AN-VISION (Germany), Eidolon Optical LLC (US), Yuesen Med (China), Ocuscience (US), GerVetUSA (US), Kowa American Corporation (US), Halma Plc (Keeler, a wholly owned subsidiary of Halma Plc) (UK), Baxter International, Inc. (Hill-Rom, a wholly owned subsidiary of Baxter International, Inc.) (US), AJL Ophthalmology S.A. (Spain), AMETEK, Inc. (Reichert, Inc., a wholly owned subsidiary of AMETEK, Inc.)(US), HEINE Optotechnik GmbH & Co. KG (Germany), LKC Technologies, Inc. (US), IRIDEX Corporation (US), I-MED Animal Health (Canada), Freedom Ophthalmic Pvt. Ltd. (France), New World Medical (US), Optomed Plc (Finland), Ocularvision, Inc. (US), Optibrand Ltd. (US), Alcon Inc. (Switzerland), USIOL, Inc. (US), Nova Eye Medical (Australia) and CorNeat Vision (Israel).
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