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Veterinary Ophthalmic Equipment Market

Veterinary Ophthalmic Equipment Market

Veterinary Ophthalmic Equipment Market By Type (Diagnostic Devices, Fundus Cameras, Portable ERG Devices, Ophthalmoscopes, Slit Lamps), By Surgical Equipment and Disposables, By End User, By Region - Global Market Forecast 2020-2030

Veterinary Ophthalmic Equipment Market
FACT5241MR
  • Mar-2022
  • List of Tables : 48
  • List of Figures : 160
  • 170 Pages
  • Healthcare

Global Veterinary Ophthalmic Equipment Market Overview

Increasing urbanization and growing affluence level have been driving the adoption of pets, and, in turn, bolstering the demand for veterinary healthcare.

However, it is interesting to note that, with rising urbanization and aging of pets, there has been increasing prevalence of diseases such as cataract, glaucoma, age-related macular degeneration, and diabetic retinopathy, especially in livestock animals and dogs & cats.

Prevalence of these diseases is expected to drive demand for innovative diagnostic techniques among end-use facilities that offer these products at a reasonable price.

Rising awareness of pet health and increasing incidence of infectious diseases among pets are expected to fuel revenue of the veterinary ophthalmic equipment market. Also, increased humanization and adoption of pets in developed countries and rising influx of medical information over the Internet are factors boosting the veterinary diagnosis market across the globe.

However, the COVID-19 pandemic is having a negative impact on the expansion of the veterinary ophthalmic equipment market size, due to shutdowns, especially affecting portable veterinary ophthalmic equipment, which is hampering the revenue of key players in this space.

Veterinary Ophthalmic Equipment Market Insights by Product

The veterinary ophthalmic equipment market is segmented into two product types - diagnostic devices and surgical equipment and disposables. The diagnostic devices segment accounts for more than 50% of the global market, owing to rise in demand from veterinary hospitals.

On the other hand, the surgical equipment and disposables segment is forecast to experience higher growth due to increasing awareness in pet owners about surgical procedures.

Furthermore, advancements in technology in portable veterinary ophthalmic equipment are fueling growth of the segment, making this a valuable pocket in the veterinary ophthalmic equipment market.

veterinary ophthalmic equipment market product

Veterinary Ophthalmic Equipment Market Insights by End User

Veterinary ophthalmic equipment has various end users such as veterinary hospitals, veterinary clinics, and veterinary medical centers and colleges. Veterinary clinics account for a leading position (over 50%) in the market when it comes to demand, due to increasing need of veterinary ophthalmic disease diagnosis and surgeries.

This is also the fastest-growing segment in the veterinary ophthalmic equipment market. Based on recent interests in research & development related to veterinary ophthalmic equipment, research institutes also comprise a considerable position in the veterinary ophthalmic equipment market space.

Regional Outlook of Veterinary Ophthalmic Equipment Market

The veterinary ophthalmic equipment is segmented into the following regions - North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa.

Europe is a dominant region that occupies over 45% of the global veterinary ophthalmic equipment market share, based on factors such as cost effective diagnosis, favorable reimbursement policies, and rising incidence of diseases such as cataract, glaucoma, and others.

These factors act as strong drivers for the market in this region. East Asia occupies most of the market after Europe, with a 20% share. The veterinary ophthalmic equipment market in the North American region is likely to witness significant growth due to increase in population and rising number of cases in the region.

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Veterinary Ophthalmic Equipment Market: Key Players

The veterinary ophthalmic equipment market is moderately consolidated in nature. It has several key players operating in the market, out of which, leading companies are Icare Finland Oy, AMETEK, Inc. (Reichert, Inc.), and HAAG-STREIT GROUP. Tier 2 players in the market are Nanjing Redsun Optical Co., Ltd., Welch Allyn, HEINE Optotechnik GmbH & Co. KG, LKC Technologies, Inc, and Bausch & Lomb Incorporated.

These key players have adopted various strategies such as collaboration with healthcare institutes for the research & development of products, facilitating advanced technologies and increased competition in the veterinary ophthalmic equipment market.

veterinary ophthalmic equipment market competition

The Analyst’s Viewpoint

“Key players need more R&D investments in order to come up with advanced technologies, which could prove to be a crucial driver for the market, besides allowing them to gain more profits.”

An Adaptive Approach to Modern-day Research Needs

COVID-19 Impact on Veterinary Ophthalmic Equipment Market

The COVID-19 pandemic has had a significant negative impact on the veterinary ophthalmic equipment market, globally, from a business standpoint. However, the market has also been hampered due to short-term shut downs of manufacturing plants as well as veterinary medical facilities across the world.

Furthermore, due to the threat caused by the pandemic, there has been considerable decrease in the demand for these products, especially for use in opthalmic diseases at veterinary hospitals, worldwide. Veterinary clinics have also shown significant decrease in demand for veterinary ophthalmic equipment.

Veterinary Ophthalmic Equipment Market: About the Report

Fact.MR published an exclusive forecast report on the veterinary ophthalmic equipment market for 2020 and 2030. The foremost objective of this report on the veterinary ophthalmic equipment market is to pitch spearhead insights on the market scenario, demand generators, and technological advancements in the veterinary ophthalmic equipment market. Also, the study addresses key dynamics that are expected to diversify the sales and future prominence of veterinary ophthalmic equipment.

The report on the veterinary ophthalmic equipment market begins with an executive overview, in which, product definition has been provided. The report further proceeds with the taxonomy of the veterinary ophthalmic equipment market, elaborating on key segments. Also, the report outlines visionary insights on the dynamics of the veterinary ophthalmic equipment market, including the drivers, restraints, opportunities, trends, and pricing analysis, along with the key buying factors for veterinary ophthalmic equipment.

Supply chain analysis and pricing analysis of the veterinary ophthalmic equipment market, along with the difference between veterinary ophthalmic equipment used as per application have also been included in the report, to help readers clearly understand the product framework map in the global veterinary ophthalmic equipment market.

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Key Segments of Veterinary Ophthalmic Equipment Market

Fact.MR’s study on the veterinary ophthalmic equipment market offers information divided into three important segments— product, end user, and region. This report offers comprehensive data and information about the important market dynamics and growth parameters associated with these categories.

Product

  • Diagnostic Devices
    • Tonometers
      • Applanation Tonometers
      • Rebound Tonometers
    • Fundus Cameras
    • Portable ERG Devices
    • Ophthalmoscopes
    • Slit Lamps
  • Surgical Equipment and Disposables
    • Operating Microscopes
    • Phacoemulsification Devices
    • Opthalmic Surgical Instruments
    • Bandage Contact Lenses
    • Viscoelastics
    • Intraocular Lenses

End User

  • Veterinary Medical Centers and Collages
  • Veterinary Hospitals
  • Veterinary Clinics
    • Small Animal Clinics
    • Large Animal Clinics
    • Exotic Animal Clinics

Region

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East & Africa

- FAQs -

The global veterinary ophthalmic equipment market is expected to reach a valuation of US$ 785 Mn by 2030.
The diagnostic devices segment accounts for more than 50% of the global market.
Key players are Icare Finland Oy, AMETEK, Inc. (Reichert, Inc.), HAAG-STREIT GROUP, and Nanjing Redsun Optical Co., Ltd.

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