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Global Animal Wound Care Market Comprehensive Study: Forecasted Market Size And Growth Rate | B. Braun Melsungen AG, Medtronic plc, 3M Company, Johnson & Johnson, Virbac SA, Advancis Veterinary Ltd
Animal Wound Care Market Characteristics
The Business Research Company offers in-depth market insights through Animal Wound Care Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The animal wound care market size has grown strongly in recent years. It will grow from $1.2 billion in 2023 to $1.3 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period can be attributed to increased pet ownership, awareness and education, rise in pet insurance, regulatory support.
The animal wound care market size is expected to see strong growth in the next few years. It will grow to $1.77 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to growing pet population, increasing veterinary expenditure, focus on preventive healthcare, emerging markets, regulatory emphasis on animal welfare. Major trends in the forecast period include technological advancements, focus on preventive care, natural and organic products, telemedicine in veterinary care, customized treatment plans.
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Market Segmentation:
The animal wound care market covered in this report is segmented -
1) By Product: Surgical Wound Care Products, Advanced Wound Care Products, Traditional Wound Care Products, Therapy Devices
2) By Animal: Companion Animals, Livestock Animals
3) By Distribution Channel: Retail, E-commerce
4) By End-Users: Veterinary Hospitals Or Clinics, Homecare, Other End Users
Major Driver - Pet Adoption Surge Is A Catalyst For Growth In The Animal Wound Care Market
The increasing pet adoption is expected to propel the growth of the animal wound care market going forward. Animal adoption is defined as acquiring animals through rescue groups instead of purchasing them from pet shops or breeders. Pet adopters seek for animal wound care to protect their pets from various wounds and in emergencies, as a result, increasing pet adoption increases the demand for the animal wound care market. For instance, in February 2023, according to Chewy Inc., a US-based online retailer of pet food and other products, there were around 977,202 pets adopted in the US in 2021, which resulted in the highest adoption rate of 61% in the past six years. Additionally, in November 2022, according to a national survey of pets and people published by Animal Medicines Australia (AMA), an Australia-based body representing the leaders of the animal health industry in Australia, about half of Australian households have at least one dog making them the most common pet and approximately 48% of households had dogs in 2022. Therefore, increasing pet adoption drives the animal wound care market.
Competitive Landscape:
Major companies operating in the animal wound care market report are B. Braun Melsungen AG, Medtronic plc, 3M Company, Johnson & Johnson, Virbac SA, Advancis Veterinary Ltd., Innovacyn Inc., Vernacare Limited, Neogen Corporation, KeriCure Inc., Sonoma Pharmaceuticals Inc., Elanco Animal Health Incorporated, Dechra Pharmaceuticals PLC, Jørgen Kruuse A/S, Robinson Healthcare Limited, Sentrx Animal Care Inc., Ethicon Inc., BioNote Inc., Heska Corporation, IDEXX Laboratories Inc., IDvet, Randox Laboratories Ltd., BioCure Inc., VetCare Inc., VetStem Biopharma Inc., VetCell Therapeutics PBC, VetWound Inc., VetMedWound LLC, VetDerm Solutions, VetHeal
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Top Trend - Product Innovations For Unparalleled Healing And Comfort
Product innovation has emerged as a key trend gaining popularity in the animal wound care market. Major market players are concentrating their efforts on creating innovative products to strengthen their position in the market. For instance, in March 2021, Axio Solutions, an India-based, deep-science medical technology company launched SureKlot, an advanced range of wound care products for animals. The company's products are first-of-its-kind and are based on proven technology that stops uncontrollable bleeding, decontaminates wounds, and enhances wound healing in animals. Moreover, this innovative product ensures painless removal, providing a comfortable experience for the animal.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Animal Wound Care Market Characteristics
3. Animal Wound Care Market Trends And Strategies
4. Animal Wound Care Market - Macro Economic Scenario
5. Animal Wound Care Market Size And Growth
…..
27. Animal Wound Care Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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