Key players are focusing on launching new product lines in addition to agreements and partnerships with other producers to expand product sales.
ROCKVILLE, MD / ACCESSWIRE / November 17, 2020 / Fact.MR: The veterinary ophthalmic equipment market is projected to record a steady growth rate throughout the forecast period, 2020-2030. Growing veterinary healthcare expenditure and research & development investments, and increment in the manufacturing of veterinary medical devices are some of the aspects propelling the expansion of the veterinary ophthalmic equipment market.
"Increase in pet's adoption and the growing willingness of the consumer to spending on veterinary care are projected to favor the growth of the market." says the Fact.MR report.
Veterinary Ophthalmic Equipment Market- Key Takeaways
- The diagnostic devices category holds over half of the global market, due to an increase in demand from veterinary hospitals.
- Veterinary clinics are the fastest-growing category among other end users over the forecast period.
- Europe remains a key beneficiary that occupies more than 45% of the global market share, followed by East Asia.
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Veterinary Ophthalmic Equipment Market - Driving Factors
- An increase in demand for veterinary care across the world is boosting demand for the market.
- The rise in the prevalence of ailments such as glaucoma, cataract, etc. will fuel demand for innovative diagnostic techniques.
- Increased adoption of pets and humanization in developed nations and the growing influx of medical information over the Internet are aspects encouraging the veterinary diagnosis market worldwide.
Veterinary Ophthalmic Equipment Market - Constraints
- The higher cost associated with these instruments impacts their adoption amid end users, which restrains their growth.
- Lack of awareness and limited access to advanced ophthalmic equipment particularly in developed regions challenges market growth.
Anticipated Market Impact by COVID-19 Outbreak
The Covid-19 pandemic has negatively impacted the global veterinary ophthalmic equipment market due to the short-term closure of manufacturing plants in addition to veterinary medical facilities across the globe. Furthermore, due to the pandemic, there has been a significant drop in the demand for these products in veterinary hospitals for ophthalmic diseases and especially affected portable veterinary ophthalmic equipment.
Explore the global veterinary ophthalmic equipment market with 160 figures, 48 data tables, along with the table of contents of the report. You can also find detailed segmentation on https://www.factmr.com/report/5241/veterinary-ophthalmic-equipment-market
Competition Landscape
Major market players identified in the global market are AMETEK, Inc. (Reichert, Inc.), Icare Finland Oy, Nanjing Redsun Optical Co., Ltd., HAAG-STREIT GROUP, Welch Allyn, LKC Technologies, Inc, HEINE Optotechnik GmbH & Co. KG, and Bausch & Lomb Incorporated. Key players are adopting strategies for instance collaboration with healthcare institutes for the r&d of products, and furthering advanced technologies in the market.
More on the Report
The Fact.MR's market research report provides in-depth insights into the veterinary ophthalmic equipment market. The market is scrutinized based on product type (diagnostic devices [tonometers, fundus cameras, portable ERG devices, ophthalmoscopes, and slit lamps] and surgical equipment [operating microscopes, phacoemulsification devices, opthalmic surgical instruments, bandage contact lenses, viscoelastics, and intraocular lenses]) and end user (veterinary medical centers and colleges, veterinary hospitals, and veterinary clinics) across five major regions (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA)).
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SOURCE: FactMR