Animal Wound Care Market 2022 – Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Market Size & Forecast 2030

The global animal wound care market is anticipated to reach USD 1,732.3 million by 2030 from USD 1,312.5 million in 2022, at a CAGR of 7.5% during the forecast period.

The prevalence of animal diseases, the frequency of animal injuries, the ubiquity of zoonotic infections (diseases spread from animals to humans), and the rise in pet ownership are the significant factors driving the predicted growth of the global market for animal wound care.

Due to strict lockdown regulations during the COVID-19 pandemic, elective surgeries on animals were postponed or canceled. It led to a decrease in postoperative wound cases and affected the market's growth. However, only a few businesses took the necessary steps to support the market expansion during the pandemic scenario and maintain production levels of Vetericyn in animal wellness.

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SEGMENTATION ANALYSIS

On the basis of animal, the market is bifurcated into companion animal and livestock. The companion animal segment is further categorized into cats, dogs, and others. The livestock segment can be classified into cattle, pigs, and others.

On the basis of product, the market is segmented into surgical, advanced, traditional, and therapy devices. The surgical segment is further classified into sutures & staplers, tissue adhesive & sealants. The advanced segment can be sectioned into foam dressings, hydrocolloid dressings, film dressings, hydrogel dressings, and others. the traditional segment is further divided into tapes & dressings, bandages, absorbents, and others.

On the basis of end-use, the market is bifurcated into veterinary hospitals & clinical, and homecare.

KEY MARKET DRIVERS

The increased adoption rate of companion animals across the globe due to the changing lifestyles and rising disposable money is one of the primary reasons driving the growth of the animal wound care industry.

The increasing expenditure on veterinary care has led to a rise in the standard of animal care. Many animal shelter facilities have further expanded their operations to become full-service hospitals, providing advanced levels of medical care, products, and other services. It is likely to increase the demand for quality animal wound care.

Companies are implementing strategies like increased R&D activity, new product launches, and mergers & acquisitions, further bolstering the market revenue. For instance, in February 2020, Sonoma Pharmaceuticals closed an asset purchase agreement for USD 1.1 million with MicroSafe Group for specific disinfection, wound care, and animal health care products in Europe.

Stringent government regulations on animal well-being is boosting the market revenue. For instance, the penal code of Canada makes it unlawful to knowingly ignore, hurt, damage, or maim an animal. Laws governing the treatment and care of farm animals are also present in the provinces and territories. Federal legislations of Europe require the implementation of post-operative care in animals.

REGIONAL OUTLOOK

The North American animal wound care market held the largest share of the global market in 2021, owing to the rising investments in the countries for the adoption of animal care and the presence of leading market players, and increasing awareness for animal welfare through various programs. The market size of North America is followed by Europe, Asia Pacific, Latin America, and the Middle East & Africa.

The Asia Pacific region is expected to showcase the highest growth rate in the regional market for animal wound care during the forecast period.

The market in the Asia Pacific is primarily driven by the higher disposable income of the population, and also by the region's growing trend of adopting companion animals.