Global animal wound care market was worth USD 963 million in 2020. It is projected to grow at 6.4% compound annual growth rate (CAGR), between 2021 and 2028. Market growth is being driven by the rising adoption of companion animals as well as increasing demand for veterinary services. The market is also growing due to an increase in vet visits. According to IDEXX Laboratories, Inc., there were 315 million visits to the U.S. in 2019.
Due to strict lockdown norms, animals were forced to postpone and cancel elective surgeries, which resulted in a decrease in post-operative wounds. This affected the market growth. The market for animal wound treatment has seen a V-shaped recovery in the third quarter 2020, largely due to the return of pet clinic visits and the ease of norms. According to IDEXX U.S. clinic visits rose by 6% in the fourth quarter 2020 compared to the previous quarter. This is expected to lead to increased revenue growth during the forecast period.
The market is growing due to increased demand for animal protein, and improvements in wound care products. Santa Cruz Animal Health, for example, offers a variety of bovine supplies including topical hydrogels and advanced wound care products for cattle. Spectrum Antimicrobials, Inc. also launched Vetricept skin care and wound care products in December 2020 to expand its product line.
The revenue is also driven by strict government regulations related to pet health and well-being. It is against the law to willfully abandon, harm, injure, or maim an animal as per Canada's criminal code. There are laws in place for the care and treatment to farm animals. This is a support for growth. European federal legislation has mandated that animals be given post-operative care.
Companies are increasing their R&D activities, launching new products, and merging & buying to increase revenue. Sonoma Pharmaceuticals, for example, closed a USD 1.1million asset purchase agreement with MicroSafe Group in February 2020 for certain disinfection, woundcare and other animal health care products in Europe. Klorexivet was launched by Bioiberica in July 2019 for dogs and cats with superficial wounds.
In 2020, the surgical wound care products market dominated the animal wound care market and held the largest revenue share at 40.6%. Tissue adhesives and sutures are surgical wound care products. Skin staplers are becoming more popular due to their simplicity, affordability, ease of use, and ability to be removed quickly. Depending on the purpose, you can use either absorbable or non-absorbable stitches. Suture cassettes and surgical sutures are used in a variety of veterinary surgeries including neurological, orthopedic, and cardiovascular. They provide temporary support for wound healing. STERIS Corporation and DRE Veterinary are some of the major players who offer these devices.
Due to an increase in veterinary surgeries and the growing use of surgical wound products, the skin glue/tissue adhesives category held a significant revenue share for 2020. Tissue adhesives are used to bind tissues together, sometimes eliminating the need for stitches in veterinary procedures. This is driving segment growth. A few products that are not included in this list include Vetbond by 3M and Vetbond by 3M as well as GLUture by Zoetis and SwiftSet by Medtronic.
In 2020, the market for animal wound treatment was dominated by the companion animal segment. It held the largest revenue share at 64.0%. These segments hold the dominant share due to growing pet healthcare spending in developed regions. One of the main factors driving the market in animal wound care is the increasing demand for non-invasive surgery. Modern surgery has many advantages, including smaller surgical wounds and fewer stitches. This gives pet owners confidence in opting for minimally invasive procedures.
Further growth is expected to be fueled by the rising incidence of chronic diseases in pets. Due to increasing osteoarthritis prevalence and dental conditions, there is an increased demand for surgery. According to APPA, the U.S. spent USD 32.3 billion on veterinary care in 2020. Due to growing awareness of high-quality products and increased demand for animal protein, the livestock animal segment will also see significant growth. According to Greenpeace NGO, in 2019, the EU provided subsidies ranging from USD 30.68 billion to USD 35.0 trillion to support large animals such as horses and livestock animals.
Due to their faster diagnosis and ability to provide treatment as soon as possible, veterinary clinics and hospitals dominated the animal wound care market. This segment is driven by the wide variety of treatment options and better wound care options available in veterinary clinics and hospitals. The number of guidelines and standards issued by various government animal welfare agencies for veterinary clinics and hospitals has increased the potential for segment growth in recent years.
Home care is expected to experience the greatest growth during the forecast period. Pet parents were more informed and trained about their pets' health thanks to the nation-wide lockdowns. This helped propel growth. Pet parents are able to manage minor injuries and wounds for their pets. Social isolation also contributed to an increase in pet adoption after COVID-19. In the U.S., shelters and private breeders reported high consumer demand post COVID-19. This helps to propel segment growth.
Due to its accessibility and affordability, the veterinary hospitals and clinics market dominated animal wound care. They accounted for 51.2% of the total revenue in 2020. The spread of COVID-19 will likely limit growth in this segment. Pet owners can limit the number of non-emergency visits to the vet, which could help prevent the virus from spreading. This will also reduce the likelihood that the segment will grow.
E-commerce is expected to experience the fastest growth during the forecast period. This is due to several advantages, such as the convenience of e-commerce for patients who are not willing to buy wound care products at retail pharmacies or hospitals. The increasing penetration of smartphones across the globe is a positive sign. It allows for a better customer experience and bolsters the smartphone user population. E-commerce has seen a rise in popularity due to the increasing number of single-touch purchase options, smartphone adaptability, and user-friendly websites.
North America was the dominant market for animal wound care products in 2020, accounting for 32.0% of the total revenue. Major players are expected to increase their product ranges and ensure high-quality standards to drive demand for wound care products. Elanco Animal Health, for instance, introduced a new flea treatment ointment in June 2020 to expand its product line.
The Asia Pacific region is expected to see a lucrative growth in the market for animal wound treatment over the forecast period. The availability of farm animals will be a major factor in the country's growth, as most countries are dependent on agriculture for their exports and production. The market growth is further fueled by increased awareness of livestock diseases. The probability of more people adopting companion animals increases with an increase in disposable income. This is increasing future growth opportunities. Market growth prospects are high due to regular updates of the healthcare infrastructure.
To gain a competitive edge in the animal wound care market, market players invest in strategies such as regional expansion, product launches and partnerships. To expand its geographic footprints, B. Braun Melsungen purchased STAVMED LLC Russia in June 2019 and added six dialysis centres to its provider offering.
To expand its product line in advanced wound care, and specialty surgical applications, 3M purchased Acelity, Inc. in October 2019. This acquisition was made under the KCI brand. The following are some of the most prominent players in animal wound care:
B. Braun Melsungen AG
Medtronic
3M Company
Johnson & Johnson (Ethicon).
Virbac
Advancis Veterinary Ltd
Innovacyn, Inc.
Robinson Healthcare
NEOGEN Corporation
KeriCure, Inc.
Sonoma Pharmaceuticals, Inc.
Up Market Research published a new report titled “Animal Wound Care Market research report which is segmented by Product (Advanced, Surgical), by Animal Type (Livestock, Companion), By Players/Companies Virbac, Robinson Healthcare, B Braun Melsungen AG, NEOGEN Corporation, 3M Company, KeriCure Inc, Johnson & Johnson (Ethicon), Innovacyn Inc, Medtronic, Advancis Veterinary Ltd, Sonoma Pharmaceuticals Inc”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | Animal Wound Care Market Research Report |
By Product | Advanced, Surgical |
By Animal Type | Livestock, Companion |
By Companies | Virbac, Robinson Healthcare, B Braun Melsungen AG, NEOGEN Corporation, 3M Company, KeriCure Inc, Johnson & Johnson (Ethicon), Innovacyn Inc, Medtronic, Advancis Veterinary Ltd, Sonoma Pharmaceuticals Inc |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 209 |
Number of Tables & Figures | 147 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Product (Advanced, Surgical), by Animal Type (Livestock, Companion).
Animal Wound Care Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Animal Wound Care Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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