Chicago, Feb. 27, 2024 (GLOBE NEWSWIRE) -- Animal Wound Care market in terms of revenue was estimated to be worth $1.3 billion in 2023 and is poised to reach $2.0 billion by 2028, growing at a CAGR of 7.4% from 2023 to 2028 according to a latest report published by MarketsandMarkets™. The animal wound care market is poised for sustained growth by factors such as growing awareness of animal health, rising cost of veterinary care, rising pet ownership, and technological advancements in wound care treatments. Additionally, with continuous innovation and a focus on animal healthcare and well-being, the animal wound care market holds great potential for established market players and emerging players.
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Animal Wound Care Market Scope:
| Report Coverage | Details |
| Market Revenue in 2023 | $1.3 billion |
| Estimated Value by 2028 | $2.0 billion |
| Growth Rate | Poised to grow at a CAGR of 7.4% |
| Market Size Available for | 2021–2029 |
| Forecast Period | 2023–2029 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By product, animal type, end user, and region |
| Geographies Covered |
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| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunity | Growing focus on newer technologies such as telehealth |
| Key Market Driver | Sharp increase in the number of older people and the prevalence of chronic illnesses |
Based on product, the animal wound care market is broadly classified into surgical wound care products, advanced wound care products, traditional wound care products, and therapy devices. In 2022, the surgical wound care products segment accounted for the largest share of the global animal wound care market. This surge in demand for surgical wound care products is driven by several factors, including increasing adoption of companion animals, growing awareness of animal health, and technological advancement in the field of animal wound care. Innovative solutions such as biodegradable sutures which dissolve naturally in advanced dressings are improving outcomes and are identified as cutting-edge solutions in the surgical wound care segment. Additionally, sutures, tissue adhesives, staplers, sealants, and glues are some of the surgical wound care products that have gained popularity due to their easy removal, reduced surgical procedure time, and ease of application. Moreover, the surging animal healthcare expenditure and prevailing veterinary conditions fuel the need for surgical wound care products.
Based on the animal type, the animal wound care market is segmented into companion animals and livestock animals. The animal wound care market for companion animals is experiencing a remarkable boom, driven by the increasing prevalence of chronic diseases in pet animals and the increase in overall spending on companion animal health. Moreover, companion animals dominate the animal wound care market due to the increasing population of pets, coupled with a growing awareness and concern among pet owners for the health and well-being of their animals. As the number of companion animals, such as dogs and cats, continues to rise, the demand for specialized wound care products and services tailored to their unique needs has experienced a significant surge. This trend contributes to companion animals securing a substantial share of the overall animal wound care market.
Based on the end user, the market is segmented into hospitals & clinics and homecare settings. In 2022, the hospitals & clinics segment accounted for the largest share of the animal wound care market. The dominance of the hospitals and clinics segment in the animal wound care market can be attributed to the growing awareness of pet health and the increasing emphasis on professional veterinary care. Pet owners completely rely on facilities provided by the hospitals and clinics, to address the specific needs of their animals, especially when it comes to wound care. Hospitals and clinics offer a range of services, from advanced medical treatments to surgical interventions, contributing to their significant share in the market. Additionally, the larger market share is owing to the specialized veterinary professionals and a wide range of wound care products. Pet owners often turn to hospitals and clinics for expert care and tailored solutions for their animals, contributing significantly to the segment's growth in the animal wound care market.
Based on region, the animal wound care market is further divided into North America, Europe, Asia Pacific, Latin America, the Middle East & Africa and GCC Countries. In 2022, North America accounted for the largest share of the animal wound care market due to the rising pet ownership with a high prevalence of companion animals, including dogs, cats, and other pets. This has led to a growing demand for advanced and specialized wound care solutions. Furthermore, North America comprises a well-established veterinary healthcare infrastructure, including numerous hospitals, clinics, and pet care facilities. The availability of skilled veterinarians, advanced medical technologies, and a wide range of products contributes to the region's dominating position in the animal wound care market.
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Animal Wound Care market major players covered in the report, such as:
- Elanco Animal Health (US)
- 3M Company (US)
- Medtronic PLC (Ireland)
- B. Braun Melsungen AG (Germany)
- Virbac (France)
- Neogen Corporation (US)
- Jorgen Kruuse A/S (Denmark)
- Sonoma Pharmaceuticals Inc. (US)
- Ethicon, Inc. (US)
- Dechra Pharmaceuticals (UK)
- Smith & Nephew PLC (UK)
- Kericure Inc. (US)
- Advancis Veterinary (UK)
- Care-Tech Laboratories, Inc. (US)
- Robinson Healthcare (UK)
- Mila International, Inc (US)
- Sentrx Animal Care (US)
- McCord Research, Inc (US)
- Prima-Vet Inc. (US)
- Innovacyn, Inc (US)
- Indian Immunologicals Ltd (India)
- Silverglide (Australia)
- Vernacare (England)
- Vetoquinol India Animal Health Pvt. Ltd. (India)
- and Among Others
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The research report categorizes the animal wound care market into the following segments and sub-segments:
Global Animal Wound Care Market, by Product
- Surgical Wound Care Products
- Sutures And Staplers
- Tissues Adhesives, Sealants, And Glues
- Advanced Wound Care Products
- Foam Dressings
- Hydrocolloid Dressings
- Film Dressings
- Hydrogel Dressings
- Other Advanced Dressings
- Traditional Wound Care Products
- Tapes
- Dressings
- Bandages
- Absorbents
- Other Traditional Wound Care Products
- Therapy Devices
Global Animal Wound Care Market, by Animal Type
- Companion Animals
- Livestock Animals
Global Animal Wound Care Market, by End User
- Hospitals & Clinics
- Home Care Settings
Global Animal Wound Care Market, by region
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Rest of LATAM
- Middle East and Africa
- GCC Countries
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Key Market Stakeholders:
- Animal wound care products manufacturers
- Animal wound care products distributors
- Animal wound care products associations
- Animal health research & development (R&D) companies
- Pet insurance providers
- Animal hospitals and clinics
- Market research and consulting firms
- Government associations
- Venture capitalists and investors
Report Objectives:
- To define, describe, and forecast the global animal wound care market based on product, animal type, end-user, and region.
- To provide detailed information regarding the major factors influencing the market growth (drivers, restraints, opportunities, and challenges).
- To analyze micro markets with respect to individual growth trends, future prospects, and contributions to the overall market.
- To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders.
- To forecast the size of the animal wound care market with respect to six main regions (along with countries), namely, North America, Europe, Asia Pacific, Latin America, the Middle East and Africa, and GCC countries.
- To profile the key players in the global animal wound care market and comprehensively analyze their core competencies and market shares.
- To track and analyze competitive developments such as acquisitions, product launches, regulatory approvals, and R&D activities of the leading players in the global animal wound care market.
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