[228 Pages Report] The global animal wound care market is projected to reach USD 1.5 billion by 2025 from USD 1.0 billion in 2020, at a CAGR of 7.4% during the forecast period. The rising demand for animal food products, increasing concerns over animal diseases, growing companion animal market, and surging veterinary healthcare expenditure are the major factors driving the growth of this market. However, an increase in pet care costs, low adoption of advanced animal wound care products in emerging markets, and shortage of vet practitioners in developing markets are hindering the market�s growth.

To know about the assumptions considered for the study, Request for Free Sample Report

COVID-19 Impact on the Animal wound care Market

Coronavirus has spread across 215 countries and territories and affected more than 4.4 million people, with close to 300 thousand deaths. Many key players in the market have observed severe impact on its revenue due to the pandemic situation. For instance, Elanco reduced its inventory of about USD 60 million in Q1 2020 and is expected to reduce more in Q2 2020. This also prompted Elanco to implement changes with its commercial distribution partners. Patient visits to veterinarian clinics in Q1 2020 decreased by 10%, and, with it, the revenue.

Animal wound care Market Dynamics

Drivers: Growing prevalence of animal diseases

Globally, the prevalence of several chronic conditions has increased in companion as well as livestock animals over the last decade. According to Banfield Pet Hospital�s 2017 State of Pet Health report, one in three pets in the US is overweight. The report estimated that between 2007 and 2016, the number of overweight dogs and cats in the US increased by 158% and 169%, respectively.

Owing to the increasing prevalence of diseases, which result in wounds in animals, the demand for early and effective wound care products is expected to increase during the forecast period.

Restrains: Rising pet care costs

From 2011 to 2019, pet care costs have increased significantly. According to the APPA 2019 report, veterinary care remains the second-highest source of spending in the pet care community. The US, for example, spent over USD 18.11 billion on veterinary care in 2018, a growth of 6.1% over the previous year. This is expected to reach USD 19.98 billion. animal owners generally bear most of the cost of treatments. In addition, according to the Society for Practicing Veterinary Surgeons, along with the increasing pet insurance, the cost of veterinary treatment is rising by about 12% a year. High pet care costs have a direct impact on the number of visits by pet owners to veterinary facilities, thereby restraining the growth of this market.

Opportunities: Untapped emerging markets.

Companion animal ownership has grown significantly across the world. This is particularly evident in emerging markets, in the APAC and Latin American countries, due to urbanization and an increase in disposable incomes�which have expanded access to animal healthcare and enabled owners to spend more on pet care. Emerging countries such as India and China have robust livestock markets. According to the Livestock Production Statistics of India 2018, India is one of the largest producers of milk (registering 20.17% of the global production), followed by the US, China, Brazil, and Pakistan. China, according to the USDA Foreign Agricultural Service in 2017, is the fourth-largest beef producer in the world.

Challenges: Shortage of skilled veterinarians

A shortage of skilled veterinarians marks the global animal healthcare market. This is particularly evident in the emerging markets across APAC and Latin America, which show a huge gap in the demand and supply of veterinary professionals. According to the World Animal Health Information Database (2017), there were 180,821 veterinary professionals in India.

Growing pet population and rising pet expenditure to drive the demand for surgical wound care products.

Based on product, the animal wound care market is segmented into surgical wound care products, advanced wound care products, traditional wound care products, and therapy devices. Surgical wound care products accounted for the largest share in 2019. The large share of this segment can primarily be attributed to the increasing number of animal conditions requiring surgeries, rising adoption of surgical wound care products in veterinary practices and increasing pet adoption and pet care expenditure.

Increasing adoption of companion animal is expected to drive its market growth.

Based on animal type, animal wound care market is segmented into companion animal and livestock animals. In 2019, companion animals accounted for the largest share of the global animal wound care market. The growth of this segment can be attributed to the growing companion animal population, increasing pet care expenditure, rising number of sports horses, and surging demand for pet insurance across the world.

The hospitals segment accounted for the largest market share in 2019

Based on end user, the animal wound care market is segmented into veterinary hospitals & clinics, and home care settings. Veterinary hospitals & clinics accounted for the largest share of the animal wound care market in 2019. The large share of this segment can be attributed to growing awareness about animal health, increasing companion animal population, and rising pet care expenditure in emerging regions.

Asia Pacific market to witness the highest growth during the forecast period

The animal wound care is divided into five regions�North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. These regions are further analyzed at the country levels. North America held the largest share of the animal wound care market in 2019, followed by Europe and the Asia Pacific. The Asia Pacific market is projected to grow at the highest CAGR during the forecast period. This can be attributed to the rising population of livestock animals, increasing consumption of animal-derived food products, and growing adoption of pets.

To know about the assumptions considered for the study, download the pdf brochure

Key Market Players

The products and services market is dominated by a few globally established players such as Elanco Animal Health (US), Medtronic PLC (Ireland), B. Braun Melsungen AG (Germany), Virbac (France), Jorgen Kruuse A/S (Denmark), Dechra Pharmaceuticals (UK).

Report Metric Details Market size available for years 2018-2025 Base year considered 2019 Forecast period 2020�2025 Forecast units Value (USD) Segments covered By Products, By Animal and By End User Geographies covered North America, Europe, Asia Pacific, Latin America, Middle East and Africa Companies covered The major market players include Elanco Animal Health (US), Medtronic PLC (Ireland), B. Braun Melsungen AG (Germany), Virbac (France), Jorgen Kruuse A/S (Denmark), Dechra Pharmaceuticals (UK), Neogen Corporation (US), Ethicon, Inc. (US), Sonoma Pharmaceuticals Inc. (US), Jazz Medical, LLC (Ireland), Prima-Vet Inc. (US), Smith & Nephew PLC (UK), Kericure Inc. (US), Advancis Veterinary (UK), Care-Tech Laboratories, Inc. (US), Robinson Healthcare (UK), Mila International, Inc (US), Sentrx Animal Care (US), McCord Research, Inc (US), Andover Healthcare Inc. (US), Assisi Animal Health (US), Precision Equine Solutions (US), Addison Biological Laboratory, Inc. (US), and Cut-Heal Animal Care Products, Inc. (US).

The study categorizes the animal wound care market based on product, animal, and end user at the regional and global level.

BY PRODUCT

SURGICAL WOUND CARE PRODUCTS SUTURES AND STAPLERS TISSUE ADHESIVE, SEALANTS, AND GLUES

ADVANCED WOUND CARE PRODUCTS FOAM DRESSINGS HYDROCOLLOID DRESSINGS FILM DRESSINGS HYDROGEL DRESSINGS OTHER ADVANCED DRESSINGS

TRADITIOANAL WOUND CARE PRODUCTS TAPES DRESSINGS BANDAGES ABSORBENTS OTHER TRADITIONAL WOUND CARE PRODUCTS

THERAPY DEVICES NEGATIVE WOUND PRESSURE THERAPY (NPWT) OR VACUUM ASSISTED CLOSURE (VAC) Other therapy devices



BY ANIMAL

COMPANION ANIMAL CATS DOGS HORSES OTHER COMPANION ANIMAL

LIVESTOCK CATTLE PIGS OTHER LIVESTOCK ANIMALS



By End Users

HOSPITALS & CLINICS

HOMECARE

Recent Developments

In April 2020, Elanco animal health (US) and VetNOW (US) collaborated.

In February 2020, Elanco Animal Health (US) announced an alliance with Purdue University and Purdue Research Foundation to improve animal health.

In December 2019, Ethicon (US) acquired Verily (US).

In June 2020, Elanco Animal Health (US) launched a new flea control ointment which is used for dog�s neck.

In October 2019, Virbac (France) opened a laboratory at Alderley Park�s Mereside Campus in the UK

Frequently Asked Questions (FAQ):

Which type of products is leading the by products segment? Based on product, the animal wound care market is segmented into surgical wound care products, advanced wound care products, traditional wound care products, and therapy devices. Surgical wound care products accounted for the largest share in 2019. Which is the leading end user for animal wound care market? Based on end user, the animal wound care market is segmented into veterinary hospitals & clinics, and home care settings. Veterinary hospitals & clinics accounted for the largest share of the animal wound care market in 2019. Which is the leading animal type segment of animal wound care market? Based on animal type, animal wound care market is segmented into companion animal and livestock animals. In 2019, companion animals accounted for the largest share of the global animal wound care market. Who are the key players operating in the animal wound care market? The animal wound care market is highly competitive and fragmented. The prominent players operating in this market include Elanco Animal Health (US), Medtronic PLC (Ireland), B Braun Melsungen AG (Germany), Virbac (France), Jorgen Kruuse A/S (Denmark), Dechra Pharmaceuticals (UK), Neogen Corporation (US), and Ethicon, Inc. (US). Which geographical region is dominating in animal wound care market? The animal wound care market is segmented into North America, Europe, the Asia Pacific, Latin America and Middle East and Africa. In 2019, North America dominated the animal wound care market, followed by Europe. However, the Asia Pacific market is estimated to register the highest CAGR during the forecast period. The growth of this market can be attributed to the growing animal population, increasing prevalence of animal diseases. .

To speak to our analyst for a discussion on the above findings, click Speak to Analyst