Global Animal Wound Care Market Showing Steady Growth: Projected to Grow at a CAGR of 5.9% During the Forecast Period
Published | 18 August 2021
A recent study conducted by the strategic consulting and market research firm BlueWeave Consulting revealed that the global animal wound care market was worth USD 1.1 billion in the year 2020 and is estimated to grow at a CAGR of 5.9%, earning revenue of around USD 1.7 billion by the end of 2027. The growing pet adoption rate, especially in developed countries, is one of the major factors propelling the market for animal wound care. Additionally, the increasing consumption of meat and other animal products has also influenced the market, as livestock must be free from infection for consumption by humans.
High Pet Adoption Rates Will Propel the Global Animal Wound Care Market Growth
Increasing awareness regarding the care of pets and the humanization of animals is increasing pet adoption rates. The adoption of companion animals, especially dogs and cats, has led to significant growth of the global animal wound care market. As people are getting more sensitive towards animals, they are increasingly adopting pets from animal and rescue centers. Because of these factors, the demand for animal wound care products is increasing rapidly. The cases of infections in pet animals increase the risk of health issues in humans as well. As a result, pet owners regularly consult their veterinarians to take care of their pets, which in turn contributes to the growth of the market.
Strict Government Regulations Regarding Animals Health Will Boost the Global Animal Wound Care Market DuringThe Forecast Period
In response to rising pet adoption rates, governments of different countries are developing certain regulations aimed at ensuring the health and safety of animals. It is mandatory in some US states, like Alabama, to sterilize a pet before it is adopted. In several other states, including Connecticut, pets are also subject to medical examinations if they are adopted or put up for sale. In Florida, it is mandatory for dogs and cats to be checked for infectious diseases before they can be adopted. All of these rules and regulations have increased the global demand for animal wound care products.
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Global Animal Wound Care Market - By Product
Based on products, the global animal wound care market is segmented into surgical wound care products, advanced wound care products, traditional wound care products, and therapy devices. Among these, the surgical wound care products segment holds the largest market share. There are many different types of surgical wound care products available, including sutures, staplers, skin adhesives, sealants, and glues. Since skin staplers are commonly used during surgical procedures, they are in high demand in the market. Furthermore, the ease of use, affordability, and easy removal feature plays a critical role in the growing demand for skin staplers.
Global Animal Wound Care Market - Regional Insights
Geographically, the global animal wound care market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. Among all the regions, North America accounted for the largest market share in the global animal wound care market, followed by Europe. Due to the large number of pets adopted in these regions, as well as the increasing disposable income, a high percentage of spending is spent on the pet's health. However, the Asia-Pacific region is projected to register the highest CAGR during the forecast period due to the high population of livestock animals in this region. The livestock animalsare used to produce milk, meat, agricultural products, and for exporting meat to other countries. As a result, the animal wound care market in this region is flourishing.
Impact of COVID-19 on Global Animal Wound Care Market
In the early phase of COVID-19's pandemic, surgical procedures on animals were either postponed or canceled. The demand for animal wound care products and devices decreased subsequently as a result of this. The overall market is projected to flourish again in the post-COVID-19 environment. The prevalence of animal infections spreading into humans has become a serious concern for countries and individuals.Pet owners, therefore, make sure their pets are regularly examined to ensure they have no infections.As a result, the global animal wound care market is gaining significant traction and is also projected to grow substantially during the forecast period.
The leading market players in the global animal wound care market are Primavet, Inc., Virbac, Robinson Healthcare, Milliken & Company, Medtronic PLC, Advancis Veterinary Ltd, 3M Company, Sentrx Animal Care, Elanco Animal Health, Neogen Corporation, BSN Medical, Kericure Inc., Innovacyn, Inc., Dechra Pharmaceuticals, Smith & Nephew PLC, B. Braun Melsungen AG, Ethicon, Care-Tech Laboratories, Inc., Eli Lilly and Company, and other prominent players
The industry participants spend hefty amounts on research and development activities and are expanding their product portfolio to stay ahead of the curve. Moreover, the global animal wound care market is highly competitive with the presence of several leading market players. Additionally, several regional companies are also making waves and giving stiff competition to giant companies.
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The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the global animal wound care market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of the global animal wound care market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
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- Global Animal Wound Care Market, By Product (Surgical Wound Care Products, Advanced Wound Care Products, Traditional Wound Care Products, Therapy Devices), By Animal Type (Companion Animals, Livestock Animals), By End-User (Hospitals & Clinics, Home Care Settings), By Region (North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle-East & Africa (MEA) Trend Analysis, Competitive Market Share & Forecast, 2017-2027
Publish Date: August 2021
The global animal wound care market is growing with the rising adoption of companion animals like dogs and cats, the demand for veterinary surgeries is increasing at a very high rate, due to which animal wound care products and devices.
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