Dublin, Feb. 28, 2023 (GLOBE NEWSWIRE) -- The "Animal Wound Care Market Size, Share & Trends Analysis Report By Product (Surgical, Therapy Devices), By Animal Type (Companion, Livestock), By Distribution Channel, By End-use, By Region And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global animal wound care market size is expected to reach USD 1.82 billion by 2030. The market is expected to expand at a lucrative CAGR of 6.92% from 2023 to 2030. Key factors driving the industry growth include the rising adoption of companion animals, increasing pet population, increasing demand for veterinary surgeries, and rising animal injury cases.
The global population of companion animals has also increased. In November 2021, the American Veterinary Medical Association (AVMA) reported that the companion animal population increased significantly from 2016 to 2020. As per the article, there were an estimated 76.8 million dogs in 2016 in the U.S., which increased to 83.7 million in 2020.
There was a similar increase in the pet cat population, from 58.4 million in 2016 to 60 million in 2020. As per the European FEDIAF, in 2021, there were nearly 113.5 million cats and 92.9 million dogs in Europe. Thus, the constantly rising pet population and respective adoption rates of dogs & cats are driving the industry. In addition, animals like dogs are more likely to sustain minor or major injuries. Accidental trauma to dogs is one of the more frequent types of injury incidents that are documented.
Major trauma, such as bone fractures, internal & external injuries, hemorrhage & organ trauma, joint dislocations, brain trauma, and skin wounds including rashes, are frequently caused by car accidents. In the United States, each year, over 10,000 accidents, involving dogs, are reported, some of which result in damage or even the death of animals.
The U.S. Department of Transportation estimates that each year, over 1 million animals pass away on roads. On the other hand, dog fights or attacks can cause severe wounds in the skin and soft tissues, as the teeth can puncture deep into the underlying tissues, muscles, and organ walls. Untrained pets are more likely to get cuts, scrapes, and minor wounds frequently.
Animals get injured in various scenarios, which can be severe and require immediate veterinary wound care for stitches, infection prevention, etc. Thus, with the increasing pet adoption and animal population globally, the demand for veterinary wound care & surgeries is also rising. This is expected to boost industrial development. Moreover, rising disposable income is expected to fuel the market growth during the forecast period.
For instance, a 2021 report by FEDIAF estimated that Europe's annual pet product sales were about USD 28.1 billion, which grew by 3.1% from 2020. The animal health industry directly contributes to the global economy via wages, exports, jobs, and taxes. High-level R&D investments in various countries have led to the development of novel wound care medications for veterinary purposes. Macro-level economic factors, such as government agreements to improve supply chains and political issues including conflicts between countries are significantly impacting the industry. The pandemic has financially impacted as well as put other implications on most of the veterinary fields, including the animal wound care sector.
Governments all over the world responded to the COVID-19 pandemic with essential measures, such as countrywide lockdowns, following social distancing norms, large-scale quarantines, and travel restrictions. These were anticipated to negatively impact the animal healthcare businesses as well as veterinary services. Moreover, during the initial stages of the pandemic, cancellation & postponement of veterinary elective surgeries resulted in a decline in postoperative wound cases. Moreover, COVID-19 caused supply chain disruptions and decreased veterinary clinic visits & admission rates.
Animal Wound Care Market Report Highlights
- The companion animal segment held a dominant revenue share in 2022 owing to the high pet adoption & humanization trends and growing pet healthcare expenditure
- The surgical wound care product segment is expected to dominate the industry over the forecast period due to rising usage of skin staplers due to their benefits including ease of use, shorter surgical times, and simplicity of removal
- The veterinary hospitals & clinics segment held the largest revenue share in 2022 owing to the benefits, such as faster diagnosis and easy access & availability of various treatments in these settings
- North America is expected to remain dominant throughout the forecast period due to an increase in efforts by major players to advance their product portfolios by guaranteeing high-quality standards
Market Dynamics
Market Drivers
- Growing Pet Population & Adoption Rates
- Increasing Adoption Of Pet Insurance
- Rising Animal Injury Cases
Market Restraints
- High Cost Associated With Veterinary Wound Care
- Shortage Of Skilled Veterinarians
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Animal Wound Care Market Variables, Trends & Scope
Chapter 4 Animal Wound Care Market: COVID-19 Impact Analysis
Chapter 5 Product Estimates & Trend Analysis, 2018 - 2030 (USD Million)
5.1 Product Movement Analysis, 2018-2030 (USD Million)
5.2 Animal Wound Care Market Share Analysis, 2022 & 2030
5.3 Surgical Wound Care Products
5.4 Advanced Wound Care Products
5.5 Traditional Wound Care Products
5.6 Therapy Devices
Chapter 6 Animal Type Estimates & Trend Analysis, 2018 - 2030 (USD Million)
6.1 Animal Type Movement Analysis, 2018-2030 (USD Million)
6.2 Animal Wound Care Market Share Analysis, 2022 & 2030
6.3 Companion Animals
6.4 Livestock Animals
Chapter 7 End-use Estimates & Trend Analysis, 2018 - 2030 (USD Million)
7.1 End-Use Movement Analysis, 2018-2030 (USD Million)
7.2 Animal Wound Care Market Share Analysis, 2022 & 2030
7.3 Veterinary Hospitals & Clinics
7.4 Homecare
7.5 Research Institutes
Chapter 8 Distribution Channel Estimates & Trend Analysis, 2018 - 2030 (USD Million)
8.1 Distribution Channel Movement Analysis, 2018-2030 (USD Million)
8.2 Animal Wound Care Market Share Analysis, 2022 & 2030
8.3 Retail
8.4 E-Commerce
8.5 Veterinary Hospitals & Clinics
Chapter 9 Regional Estimates & Trend Analysis, 2018 - 2030 (USD Million)
Chapter 10 Competitive Landscape
Chapter 11 Animal Wound Care Market - Company Profiles
Companies Mentioned
- B. Braun Melsungen AG
- Medtronic
- 3M
- Johnson & Johnson (Ethicon)
- Virbac
- Advancis Veterinary Ltd.
- Innovacyn, Inc
- Vernacare (Robinson Healthcare)
- Neogen Corporation
- Kericure, Inc.
- Sonoma Pharmaceuticals, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/rylkkh-wound-care?w=12
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