Animal Wound Care Market Worth $1.5 Billion By 2028 | CAGR: 6.4%
Animal Wound Care Industry Overview
The global animal wound care market size is expected to reach USD 1.82 billion by 2030, according to a new report by Grand View Research, Inc. 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 Segmentation
Grand View Research has segmented the global animal wound care market on the basis of product, animal type, end-use, distribution channel, and region:
Based on the Product Insights, the market is segmented into Surgical Wound Care Products, Advanced Wound Care Products, Traditional Wound Care Products, and Therapy Devices.
- The surgical wound care products segment dominated the industry and accounted for the maximum share of more than 40.40% of the overall revenue. Sutures, staplers, tissue adhesives, sealants, and glues are examples of products used in surgical wound care. Skin staplers have become increasingly common due to their benefits including ease of use, shorter surgical times, and simplicity of removal.
- Wet-to-dry dressings are recommended as the first step in traditional therapy. On the other hand, the therapy devices segment is projected to grow at the fastest CAGR from 2023 to 2030. For the treatment of various acute and chronic wounds, negative pressure wound therapy(NPWT) has gained more popularity.
Based on the Type Insights, the market is segmented into Companion Animals, and Livestock Animals.
- The companion animal segment dominated the global industry and accounted for the maximum share of more than63.85% of the overall revenue. Rising pet healthcare costs, especially in developed regions, are among the key factors driving the growth of this segment.
- The livestock animal segment is also expected to witness a significant growth rate from 2023 to 2030 owing to the increased demand for animal protein and growing consumer awareness about high-quality products. Domestic animals may develop wounds from accidents, attacks, animal or insect bites, barbed wire injuries when grazing, and wounds from fighting. The complications that arise with wounds are caused by infection as the bacteria at the site release toxins that may cause an abscess, necrosis, and slough. Therefore, wound careis immediately required before the infection spreads to the nearby tissues or bloodstream.
Based on the End-use Insights, the market is segmented into Veterinary Hospitals/Clinics, Homecare, and Research Institutes.
- The veterinary hospitals and clinics segment dominated the industry in 2022 and accounted for the maximum share of more than 40.00% of the overall revenue owing to faster diagnosis and easy availability of & access to treatments in vet hospitals & clinics.
- The homecare segment is projected to register the fastest growth rate over the forecast period. Nationwide lockdowns helped pet parents be more aware and get trained about their pet’s health. Minor pet wounds can be treated at home as not every scratch or injury requires emergency care.
Based on the Distribution Channel Insights, the market is segmented into Retail, E-commerce, and Veterinary Hospitals/Clinics.
- Due to high accessibility and affordability, the veterinary hospitals and clinics segment dominated the global industry in 2022 and accounted for the highest share of more than 45.00% of the overall revenue. Veterinary hospitals are the primary healthcare facility, with their main objective to provide urgent medical treatment to patients.
- Veterinarians are committed to providing patients with better primary care services for a speedy recovery. The staff at clinics advises pet owners regarding pet food and the benefits of medicine in addition to providing veterinarian treatment. This enables more efficient animal wound care management and control. The e-commercesegment is expected to register the fastest growth rate during the forecast period.
Animal Wound Care Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
The market is highly competitive and fragmented. Key players are offering the right balance of affordability and quality products to customers, thereby increasing their net sales. Companies are also constantly undertaking numerous strategic initiatives, such as acquisitions, collaborations, product launches, R&D, and partnerships, to increase their market share. For instance, in September 2021, Neogen Corp. acquired CAPInnoVet, Inc., an Atlanta-based companion animal health business that offers pet medications. This acquisition offered the company an opportunity to enter the retail market. Some of the prominent players in the global animal wound care market include:
- Braun Melsungen AG
- Medtronic
- 3M
- Johnson & Johnson (Ethicon)
- Virbac
- Advancis Veterinary Ltd.
- INNOVACYN, Inc.
- Vernacare (Robinson Healthcare)
- NEOGEN Corp.
- KeriCure, Inc.
Order a free sample PDF of the Animal Wound Care Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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