Animal Wound Care Market Growth & Trends
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.
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Animal Wound Care Market Report Highlights
The companion animal segment held a dominant revenue share in 2022 owing to the high pet adoption & humanization trends and growing pet healthcare expenditure
The surgical wound care product segment is expected to dominate the industry over the forecast period due to rising usage of skin staplers due to their benefits including ease of use, shorter surgical times, and simplicity of removal
The veterinary hospitals & clinics segment held the largest revenue share in 2022 owing to the benefits, such as faster diagnosis and easy access & availability of various treatments in these settings
North America is expected to remain dominant throughout the forecast period due to an increase in efforts by major players to advance their product portfolios by guaranteeing high-quality standards
Animal Wound Care Market Report Scope
Report Attribute Details
The market size value in 2023 — USD 1.14 billion
The revenue forecast in 2030 — USD 1.82 billion
Growth rate — CAGR of 6.92% from 2023 to 2030
Base year for estimation — 2022
Historical data — 2018–2021
Forecast period — 2023–2030
Quantitative units — Revenue in USD million/billion and CAGR from 2023 to 2030
Report coverage — Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered — Product, animal type, end-use, distribution channel, and region
Regions covered — North America; Europe; Asia Pacific; Latin America; MEA
Country Scope — U.S.; Canada; U.K.; Germany; Italy; France; Spain; Japan; China; India; Brazil; Mexico; Argentina; South Africa; Saudi Arabia
Key companies profiled — Medtronic; 3M; B. Braun Melsungen AG; Virbac; Johnson & Johnson (Ethicon); Advancis Veterinary Ltd.; Innovacyn, Inc.; Vernacare (Robinson Healthcare); NEOGEN Corp.; KeriCure, Inc.
Customization scope — Free report customization (equivalent to up to 8 analysts’ working days) with purchase. Addition or alteration to country, regional & segment scope
Pricing and purchase options — Avail customized purchase options to meet your exact research needs. Explore purchase options
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