Global Animal Wound Care Market - 2023-2030

Global Animal Wound Care Market - 2023-2030

Market Overview

The global animal wound care market size was valued at US$ 185 million in 2022 and is estimated to reach US$ 685 million by 2030, growing at a CAGR of 6.3% during the forecast period (2023-2030).

If an animal has had trauma or is in shock, general wound care starts once the animal has been stabilized. First aid procedures like applying pressure to stop bleeding and simple bandaging are typically completed fast. Lavage, or irrigation of the wound, removes both microscopic and visible material. By doing this, infection risk is decreased. To clean the wound, a solution is sprayed onto or into it using a syringe.

Cleaning the wound, also known as debridement, helps reduce bacterial contamination and infection risk by removing dead tissue and foreign objects. A sample can be taken from an infection-ridden wound for culture. Bacterial infections are treated with antibiotics. Additionally, it is typical to administer painkillers.

Market Dynamics

The major factors driving the global animal wound care market the market will expand as the number of companion animals rises, demand for veterinary procedures and wound treatment is increasing at the same time and the prevalence of various diseases, including rabies, foot-and-mouth disease, and black quarter (also known as ""black leg""), is on the rise.

The market will expand as the number of companion animals rises is expected to drive the market’s growth.

The overall number of companion animals and the adoption rate has risen globally. Numerous studies have demonstrated the benefits of having a companion animal, including reduced risk of cardiac arrhythmia, normal blood pressure, less anxiety, and improved psychological stability. Expanding urbanization is mostly to blame for the increased per capita expense of animal health. Increasing pet owners' desire to spend more money on animal health, growing public awareness of animal health issues, and veterinarians' ability to provide high-tech services for animal health are some of the current factors driving the market for various animal wound care products.

For instance, the highest dog and cat population worldwide, according to Petpedia.co 2021's dog adoption facts and statistics, is found in the United States of America. The U.S. has 69.9 million dogs, with China and Russia coming in second and third, with 27.4 and 12.5 million, respectively. The numbers are closer when it comes to cats. There are more than 94 million domestic cats in the U.S., 53.1 million in China, and 17.8 million in Russia. The statistics on pet adoption from research. It turns out that 90% of people who have acquired a pet in the United States say that their pet is a family member.

Expensive cost is expected to hamper the market’s growth.

However, the market expansion is constrained by the absence of well-designed comparative studies of wound healing treatments for cats and dogs and the high expenses of veterinary healthcare.

COVID-19 Impact Analysis

Elective procedures on animals were delayed or avoided due to the COVID-19 pandemic's severe lockdown requirements. The incidence of postoperative wounds decreased as a result, which had a detrimental effect on the market's growth. But once pet clinic visits resumed, and regulations were loosened, the market for animal wound treatment showed a V-shaped rebound in the third quarter of 2020. According to IDEXX, U.S. clinic visits increased by 6% in Q4 2020 compared to the prior quarter, which is expected to speed up revenue growth during the projected year.

Additionally, a substantial increase in pet adoption was observed in the wake of the COVID-19 epidemic, which is projected to benefit the industry in question. The nonprofit animal shelter Last Chance Animal Rescue reports that pet adoption increased by 30% to 40% in 2020 compared to 2019, which is expected to benefit market growth.

Segment Analysis

The companion animal segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)

The animal type segment is the highest market holder in the global animal wound care market. Pet ownership is rising worldwide. According to the National Pet Owners Survey conducted in 2021–2022, 70% of U.S. households own a pet. According to recent studies, owning a pet is linked to reduced blood pressure, less stress, a lower risk of heart disease, and lower overall healthcare costs. In conclusion, having pets nearby enhances one's quality of life. As a result, pet owners ensure that their animals' injuries and issues are properly addressed. This benefits the industry and encourages market expansion during the predicted period. In addition, dogs and cats are the most popular pets acquired in Europe, according to the European Pet Food Industry Association (FEDIAF) annual report for 2020.

Additionally, the fact that 85 million European homes own at least one companion animal will undoubtedly increase demand for animal wound treatment. Additionally, many studies highlight improvements in companion animals' ability to recover wounds. For instance, the topical application of Platelet-Rich Plasma (PRP) in the treatment of open wounds in laboratory cats and results from the research found to be promising, indicating that the PRP group saw more rapid recovery. This is according to the article published in August 2022 titled ""Locally Injected Autologous Platelet-Rich Plasma Improves Cutaneous Wound Healing in Cats."" Therefore, such research projects in pet wound care promote market expansion.

Geographical Analysis

North America holds the largest market share in the global Animal Wound Care market.

North America dominates the global animal wound care market primarily due to factors like rising government and animal welfare association activities, rising adoption and veterinary care costs, and increasing government and animal welfare association initiatives; North America is anticipated to lead the global market throughout the forecast period. The American Pet Products Association (APPA) reported that overall pet sector spending in the United States reached USD 123.6 billion in 2021–2022, an increase of 19% from USD 103.6 billion in 2020.

Additionally, the State of the Industry Report 2022 Highlights from the North American Pet Health Insurance Association (NAPHIA) reported that the overall premium volume for pet insurance in the United States was close to USD 2.6 billion. At the end of 2021, there were 3.9 million insured pets nationwide, a 28% increase over 2020. Dogs had an average annual accident and illness premium of USD 583 or USD 49 per month. Most insured pets reside in Florida, New York, and California. Dogs had 82% more insured pets than cats, who had 18% more. In Canada, dogs made up 77.5% of insured pets compared to cats' 22.5%.

Competitive Landscape

The Animal Wound Care market is moderately competitive with local and global companies’ presence. Innovacyn Inc, B Braun Melsungen AG, KeriCure Inc, Acelity L.P. Inc., Advancis Veterinary Ltd, Virbac, Neogen Corporation, Robinson Healthcare Ltd, Ethicon, Inc. (Johnson & Johnson), Medtronic PLC and more. The key players are adopting various growth strategies such as product launches, mergers & acquisitions, partnerships, and collaborations, contributing to the market’s growth. For instance, in March 2021, with the SureKlot line of medicines, Axio Biosolutions hopes to enter the veterinary wound management market. For many sorts of wounds, Sureklot is available as a patch, gauze, powder, and spray..

Advancis Veterinary Ltd.

Overview: With a well-known name in the field of advanced wound care on a global scale, Advancis Veterinary is able to supply high-quality dressings to the veterinary market. The British firm Advancis Veterinary manufactures a variety of cutting-edge wound care solutions that take a targeted approach throughout the wound healing process to assure the optimum outcomes.

Product Portfolio

Manuka Honey dressings: Aids in the reduction of bioburden, Osmotic effect, drawing harmful tissue away from the wound be and maintains the ideal moist wound healing environment.

The global animal wound care market report would provide access to approx.: 45+market data table, 40+figures and 200 (approximate) pages.