Animal Wound Care Market - Growth, Trends, COVID-19 Impact, and Forecast (2021 - 2026)

Market Overview

The animal wound care market is expected to register a CAGR of nearly 6.1% during the forecast period 2021-2026.

Due to the outbreak of COVID-19, there was a significant impact on the animal wound care market. The animal wound care market observed a setback in the growth due to the disruption of the supply chain in the market studied. However, some of the companies, such as Innovacyn, Inc., took the necessary measures to keep up with the production of Vetricyn in animal wellness. Such instances are expected to support the market growth in the pandemic scenario.

The major factors attributing to the growth of the animal wound care market are the increasing initiatives by the governments and animal welfare associations and increased animal adoption and animal healthcare expenditure.

The World Organization for Animal Health (OIE) is committed to ensuring that all animal welfare standards, including veterinary healthcare, are science-based. It also recognizes that other factors must also be taken into account. The International Coalition for Farm Animal Welfare (ICFAW) was formed to represent the interests of non-governmental animal welfare organizations globally. In the European Union (EU), farmers must confirm with legislation that applies to protect all farm animals and species-specific provisions, which apply to pigs, calves, and poultry. The EU Strategy of Animal Welfare targets upkeep farmers in meeting the welfare standards, as required by the EU law, and provides benefits to the consumers by ensuring increased transparency and presenting better information. Hence, the increasing government initiatives and rising animal welfare worldwide are helping in the growth of the market studied, as these initiatives are making people consider their pet’s health as important.

Furthermore, as per the report ‘’Pets in Australia: A national survey of pets and people’’ in 2019, the expenditure on pets increased tremendously, owing to the increasing pet adoption. The report estimated that people spend over AUD 13 billion per year to keep the pets fed, healthy, and well-accessorized, with food and veterinary services accounting for half of all ongoing expenditures. Out of this, nearly 2.6 billion was spent on veterinary services in the country. Therefore, the rise in disposable income is another major factor influencing animal health expenditure, further accelerating the market growth.

However, the high cost of veterinary services is expected to restrict the market growth. For instance, Banfield Pet Hospitals charges nearly between USD 44.95 to USD 59.95 for a visit. This number varies as per the region. The lack of well-designed comparative studies of wound healing products in cats and dogs is obstructing market growth.

Scope of the Report

Animal wound care refers to the specific types of treatment to cure various kinds of wounds in animals. General wound care begins only after the animal gets stabilized after the trauma or shock that it has had, and it involves certain medical instruments and materials. The animal wound care market is segmented by products (surgical, advanced, traditional, and other products), animal type (companion and livestock), and geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The report offers the value (in USD million) for the above-mentioned segments.

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Key Market Trends

Companion Animal Wound Care Market is Expected to Observe Good Growth Over the Forecast Period

With the outbreak of COVID-19, a significant increase in the adoption of pets was observed, which is likely to influence the market studied positively. As per the Last Chance Animal Rescue, a nonprofit animal shelter, there was an increase in pet adoption of 30% to 40% in the year 2020 compared to 2019, which is expected to have a positive impact on the market growth.

Moreover, the number of pets is increasing globally. For example, as per a 2019 report by the People's Dispensary for Sick Animals, the pet dog population increased over the years. The report observed the pet dog population increase from 7.8 million in 2013 to 9.4 million in 2016 to 9.9 million in 2019. According to the annual report of the European Pet Food Industry Association (FEDIAF) for 2020, dogs and cats are the major pets adopted in Europe. Moreover, approximately 85 million European households own at least one pet animal. Thus, the pet care market is expected to grow, which will boost the animal wound care market.

Companies are developing new products for companion animals, which are expected to accelerate the market studied in this segment. For instance, in March 2021, Healers PetCare introduced a combination kit offerings for pet health. This kit includes Skin and Coat Health Chews, Hot Spot Relief cream, and Conditioning Tea Tree Oil Shampoo for pet health and wellness. Thus, the aforementioned factors are expected to positively impact the market studied.

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