Animal Wound Care Market Is Expected To Expand At A CAGR Of 6.4% From 2021 To 2028
Animal Wound Care Industry Overview
The global animal wound care market size was valued at USD 960.3 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.4% from 2021 to 2028. The rising adoption of companion animals and increasing demand for veterinary surgeries are propelling the market. Moreover, the increasing number of vet visits is further propelling the market growth. According to IDEXX Laboratories, Inc., in 2019, there were an estimated 315 million total visits in the U.S.
During the COVID-19 pandemic, postponement and cancellation of elective surgeries in animals due to stringent lockdown norms consequently resulted in a decline of postoperative wounds cases, thus impacting the market growth. However, the market for animal wound care has shown V-shaped recovery during the 3rd quarter of 2020 due to the resumption of pet clinic visits and ease of norms. According to IDEXX, U.S. clinic visits increased by 6% in Q4 2020 from the last quarter which is expected to increase the revenue growth over the forecast period.
Gather more insights about the market drivers, restraints and growth of the Global Animal Wound Care market
Increasing demand for animal protein and advancement in their wound care product is boosting the growth of the market. For instance, Santa Cruz Animal Health offers a wide range of bovine supplies such as topical hydrogel and advanced wound care products in cattle. In addition, in December 2020, Spectrum Antimicrobials, Inc., launched Vetricept skin and wound care cleanser products to enhance its portfolio.
Moreover, stringent government regulation related to pet well-being is propelling the revenue. For instance, it is illegal to willfully neglect, wound, injure or maim an animal under the criminal code of Canada. Provinces and territories also have laws regarding the care and treatment of farm animals which is supporting growth. Federal legislations of Europe have mandated the use of post-operative treatment/care in animals.
Companies are implementing strategies such as increased R&D activity, new product launches, and mergers & acquisitions which are further bolstering revenue. For instance, in February 2020, Sonoma Pharmaceuticals closed an asset purchase agreement for USD 1.1 million with MicroSafe Group for certain disinfection, wound care, and animal health care products in Europe. In July 2019, Bioiberica launched Klorexivet for cats and dogs with superficial injuries as a result of wounds.
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- Wound Care Market - The global wound care market size was valued at USD 20.6 billion in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 4.1% from 2022 to 2030.
- Animal Health Market - The global animal health market size was valued at USD 39.9 billion in 2021 and is expected to witness a compound annual growth rate (CAGR) of 10.0% from 2022 to 2030.
Animal Wound Care Industry Segmentation
Grand View Research has segmented the global animal wound care market on the basis of product, animal type, end-user, distribution channel, and region:
Animal Wound Care Product Outlook (Revenue, USD Million, 2016 - 2028)
- Surgical Wound Care Products
- Advanced Wound Care Products
- Traditional Wound Care Products
- Therapy Devices
Animal Wound Care Animal Type Outlook (Revenue, USD Million, 2016 - 2028)
- Companion Animal
- Livestock Animal
Animal Wound Care End-user Outlook (Revenue, USD Million, 2016 - 2028)
- Veterinary Hospitals & Clinics
- Homecare
- Research Institutes
Animal Wound Care Distribution Channel Outlook (Revenue, USD Million, 2016 - 2028)
- Retail
- E-commerce
- Veterinary Hospitals & Clinics
Animal Wound Care Regional Outlook (Revenue, USD Million, 2016 - 2028)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Market Share Insights:
- October 2019: 3M acquired Acelity, Inc. to enhance its portfolio in advanced wound care and specialty surgical applications marketed under the KCI brand.
- June 2019: Braun Melsungen acquired STAVMED LLC in Russia to expand its geographical footprints and added six dialysis centers to its provider offerings.
Key Companies profiled:
Some prominent players in the global Animal Wound Care Industry include
- Braun Melsungen AG
- Medtronic
- 3M Company
- Johnson & Johnson (Ethicon)
- Virbac
- Advancis Veterinary Ltd
- Innovacyn, Inc.
- Robinson Healthcare
- NEOGEN Corporation
- KeriCure, Inc.
- Sonoma Pharmaceuticals, Inc.
Order a free sample PDF of the Animal Wound Care Market Intelligence Study, published by Grand View Research.
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