Veterinary Eye Care Market: Overview
The veterinary eye care market may take a leap of growth during the forecast period of 2020-2030 due to an increase in the global adoption of pets and the rising cases of eye diseases among pets. Awareness about veterinary care is also an important factor that will bring good growth opportunities for the veterinary eye care market. Diabetes in pets leads to poor vision. The growing cases of diabetes among pets may also serve as an affluent growth generator for the veterinary eye care market.
Based on treatment, the veterinary eye care market can be segmented into medical treatment and surgery. Medical treatments include ointments, injections, drugs, and eye drops. Surgery includes diode laser surgery, cataract phacoemulsification and lens replacement, glaucoma drainage implant surgery, automated vitrectomy, and others.
This report on the veterinary eye care market conducts thorough research on various parameters for analyzing the ideal growth generating factors. This aspect proves to be of great help to the market stakeholder and helps them to design their business strategies accordingly. This report also covers the rapidly changing veterinary eye care market scenario. The report also sheds light on the effects of COVID-19 on the veterinary eye care market through the forecast period of 2020-2030.
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Veterinary Eye Care Market: Competitive Landscape
The veterinary eye care market is highly fragmented. The players of the veterinary eye care market are involved in neck-to-neck competition in the race of producing effective veterinary eye care mechanisms and drugs. Key players are always involved in mergers and acquisitions for maintaining their influence on the veterinary eye care market. Diverse players in the veterinary eye care market are also concentrating on developing eye drops and ointments that give temporary relief to minor eye disorders as home treatment gains traction over the forecast period.
The production of customized equipment for various canine-related eye procedures such as eyelid surgery, dislocated lens surgery, dry eye surgery, and others may gain substantial traction. Some well-entrenched players in the veterinary eye care market are I-Med Animal Health, Akorn Inc., Bausch & Lomb Inc., and Animal Eye Care LLC.
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Veterinary Eye Care Market: COVID-19 Assessment
The COVID-19 pandemic has led to disruptions in the economic scenario of the globe and the veterinary eye care market is no stranger to the negative development. However, veterinary eye care, being market under the essential services is better-placed as compared to other sectors to weather the storm. As operations related to veterinary eye care are in full force even during the lockdown period, the market may suffer minimum losses.
Due to the COVID-19 outbreak, home care has gained preference due to the stay-at-home orders. As a result, eye drops and ointments for providing relief to minor eye disorders may serve as growth multipliers for the veterinary eye care market.
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Veterinary Eye Care Market: Growth Restraints
Advanced veterinary eye treatment infrastructure is not affordable and requires high investment. This factor can hinder the growth of the veterinary eye care market. The people in developing economies do not have much awareness about pet eye care. This aspect may also prove to be a growth dampener for the veterinary eye care market.
Veterinary Eye Care Market: Geographical Outlook
The veterinary eye care market is spread across Asia Pacific, the Middle East and Africa, Europe, North America, and Latin America. North America may serve as a prominent growth generating region throughout the forecast period. According to the American Pet Products Association (APPA), 67% or 85 million families own a pet. These statistics highlight the future course of the veterinary eye care market. Europe may also gain considerable growth across the forecast period due to efficient pet policies and escalating pet adoption statistics.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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