MARKET OVERVIEW - UNITED STATES ANIMAL WOUND CARE MARKET
Animal wound care is the term used to describe the care given to animals after operations, accidents, or when they get ill or infected. Only after the animals have recovered from the shock produced by it are they treated. Animal wounds can be treated with a variety of materials, including dressings, bandages, sprays and more. In order to hasten healing and recovery, wound care product manufacturers are also introducing cutting-edge goods including hydrogel dressing, foam dressings, film dressings, etc. Furthermore, increasing demand for animal food products and rising veterinary healthcare expenditure are one of the major factors boosting the animal wound care market in the United States. For instance, according to IDEXX Laboratories, Inc., in 2019, there were an estimated 315 million total visits in the U.S.
MARKET DRIVERS
Increasing awareness regarding the care of pets and the humanization of animals is increasing pet adoption rates. The adoption of companion animals, especially dogs and cats, has led to significant growth of the United States animal wound care market. Also, animal diseases are becoming more prevalent very quickly. Anthrax, block quarter, rabies, ringworm, and other common infectious diseases are growing fatally among animals. This is the reason why there is a growing market for treatment and equipment for treating animal wounds. Additionally, dogs in particular are prone to bit wounds, pressure sores, and cuts, which is propelling the expansion of the market for animal wound care.
MARKET OPPORTUNITY
The surge in the companion and livestock animal population, the growing demand for veterinary services from the livestock industry, and rising animal health expenditure, and a growing market across United States are expected to offer significant growth opportunities. Also, rising animal healthcare and increasing awareness of animal health in the country is expected to provide ample growth opportunity for the U.S. animal wound care market.
MARKET RESTRAINT
However, the rise in pet care costs is expected to hinder market growth. For instance, the US spent over USD 31.4 billion in 2020 and 34.3 billion in 2021 on veterinary care and related product sales. These factors are expected to hamper market growth. Also, the average range of diagnostic and therapeutic revenue per clinical visit in the U.S was approximately USD 85-95 in 2020. This is mainly due to the availability of advanced monitoring, diagnostic, and therapeutic procedures in veterinary practices, which come with high price tags. All these factors restrain the animal wound care market in the United States.
MARKET GROWTH CHALLENGES
The Covid-19 pandemic hampered the growth of the market to a major extent, which has created a major challenge for market growth. Also, the rising pet care expenditure is challenging the growth of the market. Furthermore, strict government norms regarding animal and environmental safety increase the economic burden on pet owners.
CUMULATIVE GROWTH ANALYSIS
The report provides in-depth analysis of animal wound care market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. With rising demand for pet insurance and growing animal health expenditure is fuelling the growth of the market and is expected to witness the growth at a CAGR at specific CAGR from 2021-2028.
UNITED STATES ANIMAL WOUND CARE MARKET SEGMENTAL OVERVIEW
The animal wound care market comprises of different market segment like product, animal, end-user and geography.
UNITED STATES ANIMAL WOUND CARE MARKET BY PRODUCT
By product, the animal wound care includes key segment of
- Surgical wound care product
- Advanced wound care products
- Traditional wound care products
- Therapy device
Surgical wound care products are expected to dominate the market over the forecast period. Surgical wound care products are sub-segmented into sutures and staplers and tissue adhesive, sealants, and glues. Staplers have gained popularity due to advantages such as simplicity and increased affordability of these products. Surgical sutures are used in various veterinary surgeries, including orthopaedic, cardiovascular, and neurological. The advanced wound care products segment is growing in the market.
UNITED STATES ANIMAL WOUND CARE MARKET BY ANIMAL
By animal, the animal wound care includes key segment of
- Companion Animal
- Livestock
On the basis of animal type, the animal wound care market is segmented into companion animals and livestock animals. The companion animal segment accounted for the largest share in the market. Further, the companion animals are sub-segmented into dogs, cats, horses and others, and livestock animals are sub-segmented into cattle, pigs and others. The growing adoption of companion animals in the country, along with the increasing awareness among pet owners for animal diagnostics are some major factors fuelling the animal wound care market.
UNITED STATES ANIMAL WOUND CARE MARKET BY END-USERS
By end-users, the animal wound care includes key segment of
- Hospital & Clinics
- Homecare
Hospital & clinics is anticipated to lead the market, gaining the majority of the market share in 2021, and is expected to maintain its dominance over the estimated time period, owing to the faster diagnosis, helping patients get treatment at the earliest. Furthermore, the availability of a wide range of treatment as well as better wound care treatment options in hospitals and clinics are fuelling the segment growth. Moreover, the government animal welfare organization has issued guidelines for safety practices and standards to be implemented in veterinary hospitals and clinics. These are factors driving segment growth.
UNITED STATES ANIMAL WOUND CARE MARKET BY GEOGRAPHY
The rising pet adoption rates, increasing the prevalence of animal diseases and infection, increasing spending on animal health, a growing pool of veterinarians are the major factors boosting the animal wound care market growth in the United States. Furthermore, increasing animal health awareness and a large number of hospitals and clinics is expected to boost the market growth in the United States. Additionally, rising government initiatives are anticipated to contribute to the market growth.
COVID-19 IMPACT ANALYSIS ON UNITED STATES ANIMAL WOUND CARE MARKET
The outbreak of the COVID-19 virus has become a global healthcare emergency that has been spread worldwide, affecting worldwide social and economic development. The COVID-19 pandemic shut-down the production of products in various industries, mainly owing to the lockdown in major countries. The COVID-19 impact analysis report by Axiom MRC provided a 360 degree analysis of micro and macro-economic factors in the animal wound care market. Due to the COVID-19, the animal wound care market observe a setback in the growth, owing to the disruption of the supply chain. Also, the postponement and cancellation of surgeries in animals due to stringent lockdown norms resulted in a decline of postoperative wound cases, thus impacted the market growth.
COMPETITIVE LANDSCAPE ANALYSIS
The competitive landscape analysis of animal wound care market is majorly focused on expanding the global growth of animal wound care with new product innovation, business expansion, increasing presence of range of manufacturer operating in the market has led the growing demand for the market. Besides, the market offers range of products to fulfil the required demand of consumer which is further contributing healthy growth in the market.
The key players studied in market are
- Pharmaceuticals, Inc.
- Elanco Animal Health
- 3m Company
- Medtronic Plc
- B. Braun Melsungen Ag
- Virbac
- Neogen Corporation
- Jørgen Kruuse A/S
- Sonoma Ethicon (a Subsidiary of Johnson & Johnson)
- Dechra Pharmaceuticals
- Jazz Medical, Llc
- Smith & Nephew Plc
- Kericure Inc.
- Advancis Veterinary
- Care-Tech Laboratories, Inc.
- Robinson Healthcare
- Mila International, Inc.
- Sentrx Animal Care
- Mccord Research, Inc.
- Primavet, Inc.
- Innovacyn, Inc.
- Indian Immunologicals Ltd.
- Silverglide
- Vernacare
- Vetoquinol India animal health Pvt. Ltd.
