Animal Wound Care Industry Overview

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

Regional Insights:

North America Region Market Overview (2022):

• North America dominated the global industry in 2022, accounting for over 32.30% of the overall revenue.
• The dominance is attributed to the continuous efforts by major players to enhance their product portfolios and ensure high-quality standards, driving regional market growth.
• However, the COVID-19 pandemic led to a decline in postoperative wound cases, as many government authorities recommended avoiding elective surgeries for animals.
  • For example, the CDC recommended veterinarians focus only on emergency visits and procedures during the early stages of the pandemic, which hindered market growth in 2020.
• Despite this setback, the North American market is expected to rebound as elective procedures resume, and industry players continue to innovate in their offerings.

Asia Pacific Region Market Outlook:

• The Asia Pacific region is projected to register the fastest growth rate during the forecast period.
• Growing disposable income levels in countries across the region are driving increased adoption of companion animals, which significantly expands the potential customer base for veterinary products and services.
• The adoption of pets is expected to continue to rise, contributing to a growing market demand for veterinary care and related products.
• Additionally, the popularity of pet insurance is increasing, helping to alleviate veterinary healthcare expenses for pet owners.
• Increased awareness about livestock diseases is also propelling market growth, as consumers seek better solutions to maintain animal health and prevent outbreaks.

Browse through Grand View Research's  Animal Health Industry Research Reports.

• The global wound care market size was estimated at USD 22.25 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 4.17% from 2024 to 2030.
• The global negative pressure wound therapy market size was estimated at USD 2.49 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 6.64% from 2024 to 2030.

Key Animal Wound Care Company Insights

The market is highly competitive and fragmented. Key players are offering the right balance of affordability and quality products to customers, thereby increasing their net sales. Companies are also constantly undertaking numerous strategic initiatives, such as acquisitions, collaborations, product launches, R&D, and partnerships, to increase their market share. For instance, in September 2021, Neogen Corp. acquired CAPInnoVet, Inc., an Atlanta-based companion animal health business that offers pet medications. This acquisition offered the company an opportunity to enter the retail market. Some of the prominent players in the global animal wound care market include:

• Braun Melsungen AG
• Medtronic
• 3M
• Johnson & Johnson (Ethicon)
• Virbac
• Advancis Veterinary Ltd.
• INNOVACYN, Inc.
• Vernacare (Robinson Healthcare)
• NEOGEN Corp.
• KeriCure, Inc.

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