Animal Wound Care Industry
The global animal wound care market was valued at USD 1.08 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 6.92% during the forecast period. This growth is primarily driven by several key factors, including the rising adoption of companion animals, an increasing demand for veterinary surgeries, and the growing frequency of animal injuries. For example, according to the U.S. Department of Transportation, more than 1 million animals die annually due to road accidents, with millions more being injured. This high incidence of injuries significantly contributes to the demand for animal wound care products. Additionally, the growing number of veterinary visits and the rising trend of pet insurance adoption further stimulate market growth. As of June 2022, Trupanion, a leading pet insurance company, reported 1.3 million enrollments, with a 32% growth in the second quarter of 2021, highlighting the increasing focus on ensuring the health and care of companion animals.
The COVID-19 pandemic had a notable impact on the animal wound care market, as it affected millions of people and businesses globally, including the veterinary field. The pandemic led to financial strains, and many veterinary services experienced delays or cancellations. Elective surgeries for animals were postponed due to lockdown restrictions, leading to a temporary reduction in the number of postoperative wound care cases. The Federation of Veterinarians of Europe (FVE) reported in March 2020 that many small- and medium-sized veterinary practices faced significant financial difficulties during the early stages of the pandemic, and the veterinary healthcare industry saw a 50% revenue decline in various European countries. However, the market demonstrated a quick recovery by the last quarter of 2020 and continued to rebound in 2021 as veterinary clinics resumed normal operations and COVID-19 restrictions eased.
Furthermore, the demand for animal protein and advancements in livestock wound care products have further accelerated industry growth. Companies such as Santa Cruz Animal Health have been pivotal in driving this expansion, offering a wide range of innovative bovine supplies, including topical hydrogel and other advanced wound care products specifically designed for cattle. These developments indicate that the animal wound care market will continue to grow in response to the evolving needs of companion and livestock animals, as well as advancements in veterinary care.
Gather more insights about the market drivers, restrains and growth of the Animal Wound Care Market
Animal Type Insights
Companion Animal Segment:
In 2022, the companion animal segment led the global animal wound care market, capturing more than 63.85% of the overall revenue. The growth of this segment can be attributed to several key factors:
- Rising Pet Healthcare Costs: The increasing expenses associated with pet healthcare, particularly in developed regions, are driving the demand for animal wound care products. For example, the American Pet Products Association (APPA) reported that U.S. pet owners spent around USD 34.3 billion on veterinary care in 2021. This surge in healthcare spending highlights the growing prioritization of pet health and the need for advanced care solutions.
- Minimally Invasive Surgeries: The rising demand for minimally invasive surgical procedures is another significant driver. These modern surgeries offer benefits such as smaller incisions, fewer stitches, and quicker recovery times. As pet owners increasingly opt for these advanced technologies, the demand for associated wound care solutions grows, further contributing to the market’s expansion.
Livestock Animal Segment:
The livestock animal segment is projected to experience a significant growth rate from 2023 to 2030, driven by:
- Increased Demand for Animal Protein: As global consumption of animal protein rises, especially in developing economies, the demand for high-quality livestock products is expanding. This, in turn, boosts the need for effective wound care in livestock to ensure optimal health and productivity.
- Increased Consumer Awareness: Growing awareness among consumers about the importance of high-quality livestock products is also influencing the segment’s growth. Consumers are becoming more conscious of the health and welfare of farm animals, prompting the adoption of better care and treatment methods, including wound management.
- Injury Prevention and Wound Management: Domestic livestock, including cattle, sheep, and pigs, often sustain injuries from accidents, fights, animal or insect bites, barbed wire, or grazing-related wounds. These injuries can lead to complications such as infections, abscesses, necrosis, and sloughing if not treated promptly. Wound care is essential to prevent these issues from escalating and spreading to surrounding tissues or the bloodstream. This need for immediate wound management is a key factor driving the growth of the segment.
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