PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1490260
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1490260
Animal Wound Care Market size was valued at USD 1,398.01 Million in 2023, expanding at a CAGR of 7.91% from 2024 to 2032.
The rise in pet ownership globally, particularly in emerging markets, and the increasing expenditure on pet healthcare are major drivers. Owners are more willing to spend on advanced wound care products and treatments for their pets. Increased awareness about animal health and wellness among pet owners, farmers, and animal care organizations is leading to a higher demand for effective wound care solutions. The high cost of advanced wound care products and treatments can be a significant barrier, particularly in developing regions with prevalent economic constraints. The growth of e-commerce and online pharmacies provides a platform for selling and distributing animal wound care products, making them more accessible to a wider audience.
Animal Wound Care Market- Market Dynamics
Increasing awareness of Animal Health Driving the Animal Wound Care Market
There has been a notable increase in pet ownership globally, with more people considering pets as part of their families. This has increased spending on pet health and wellness, including wound care products and services. According to Federal Highway Administration Research and Technology, indicate that there are between one and two million automobile-large animal collisions in the US each year. Both the survival of animals and human safety are seriously threatened by this. The goals of state and local transportation departments are to satisfy the demands of the traveling public while preserving human safety and protecting wildlife. Moreover, The Veterinary Wound Healing Association was established to promote education and research into the scientific basis and the clinical management of wounds of whatever etiology in the veterinary sciences. Various organizations and veterinary institutions are conducting awareness campaigns to educate pet owners about the importance of wound care.
Animal Wound Care Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 7.91% over the forecast period (2024-2032)
Based on animal type segmentation, Livestock Animals was predicted to show maximum market share in the year 2023
Based on end-user segmentation, Veterinary Hospitals & Clinics was the leading type in 2023
Based on distribution channel segmentation, Veterinary Hospitals/Clinics was the leading type in 2023
Based on region, North America was the leading revenue generator in 2023
The Global Animal Wound Care Market is segmented based on Animal Type, Product, Distribution Channel, End-user, and Region.
The market is divided into three categories based on animal type: Livestock Animals and companion Animals. Because of the growing consumer awareness of high-quality products and the increased need for animal protein, the livestock animal market is also anticipated to experience significant growth. Wound complications are mostly brought on by infection, as bacteria secrete toxins that can lead to necrosis, sloughing, and abscesses. To prevent the infection from spreading to adjacent tissues or the circulation, wound care is therefore urgently needed. The expansion of this segment is facilitated by several factors.
The market is divided into two categories based on end-user: Veterinary Hospitals & Clinics, and Home Care Settings. Due to quicker diagnosis times and easier availability and access to treatments in veterinary hospitals and clinics, this area of the market dominated and had the largest share. Additionally, a high-impact selling driver for the industry is that these settings provide superior wound care procedures together with a broad range of treatments.
Animal Wound Care Market- Geographical Insights
North America dominates the market with significant expenditure on pet health care and strong veterinary infrastructure. The region boasts a well-developed veterinary healthcare infrastructure, with numerous veterinary clinics, hospitals, and research institutions. This facilitates the adoption of advanced wound care products and techniques. Global pet ownership is increasing, especially in industrialized nations, which is fueling demand for cutting-edge wound care products. As an illustration, 70% of American homes own a companion animal. The market for animal wound care is dominated by North America due to the region's high veterinary costs, widespread pet ownership, and numerous association and governmental initiatives to support animal health. The regulatory framework in North America supports the approval and commercialization of new veterinary products.
Major companies operating in this market include Advancis Veterinary Ltd., Elanco Animal Health Incorporated, Innovacyn Inc., Johnson & Johnson, B. Braun Melsungen AG, Jorgen Kruuse A/S (part of Covetrus Inc.), Medtronic plc, etc. To improve their market position, these businesses are taking part in a range of strategic initiatives, including collaborations, product launches, and mergers and acquisitions. In September 2022, Provectus Biopharmaceuticals Established a Research Collaboration with the University of Texas Medical Branch at Galveston to Investigate Pharmaceutical-Grade Small Molecule Immunotherapy Rose Bengal for Wound Healing. Many leading companies in the animal wound care market are based in North America. Their presence drives market growth through innovation, extensive distribution networks, and robust marketing strategies.
In June 2021, Bactiguard expanded its business and launched infection deterrence for pets through a partnership with the Nordic pet vendor Musti Group. The corporation evolves round a novel range of wound care goods (Aniocyn) for pets.
In January 2024, In partnership with the Wound Care Collaborative Community (WCCC), HMP Global, the leading healthcare events and education company, hosted the inaugural Driving Innovation in Wound Care Summit co-located with the symposium on advanced Wound Care (sawc) spring.
GLOBAL ANIMAL WOUND CARE MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Medtronic PLC
Elanco Animal Health
B. Braun Melsungen AG
Virbac
Jorgen Kruuse A/S
Dechra Pharmaceuticals
Neogen Corporation
Ethicon, Inc.
Sonoma Pharmaceuticals Inc.
Jazz Medical LLC
Prima-Vet Inc.
Others